Did the hasty Trump Tax settlement contribute to Trump’s ability to refinance his Atlantic City portfolio? Are we to attribute Acting Mayor William Marsh’s speedy and sloppy sign-off on the Trump $34 million pay-off as the reason for Trump’s business re-birth? I look forward to your comments.
(Reading – http://www.commercialpropertynews.com/cpn/content_display/regions/northeast/e3i069cf19291fa5cceb7693f5799b4426c & http://www.pressofatlanticcity.com/news/newjersey/story/7523301p-7423868c.html)
December 30, 2007 at 9:53 pm |
No, the debt restructuring had nothing to do with the AC tax settlement. Look at the numbers. Trump refinanced $500 million. Do you think a paltry $12 million and some more tax credits in the future are going to impact this agreement? Doubt it.
I think the news is that Trump is always able to find a bank to refinance his ridiculous amount of debt. He’s gone through all the major eastern banks and they won’t touch him anymore. Now he’s found a small Nevada bank will learn that his word is NOT his bond. At least when it comes to money.