Is Donald Trump's Comb over To Big To Fail?

[Joanne98]

Trouble in Trump town as tycoon's fortune dwindles

By Stephen Foley in New york
Tuesday, 2 December 2008

From Dubai to Chicago, from Atlantic City to Aberdeen, the host of the US version of The Apprentice is scaling back his ambitions for global domination

After years as perhaps the most recognisable face of capitalist success and excess, Donald Trump is suddenly bogged down in a string of legal and financial battles across his property and entertainment empire.

These are grim echoes of the past for a man who, during the recession of the early-Nineties, was forced to put large chunks of his business into bankruptcy, and even teetered on the edge of financial ruin. His re-emergence from that disaster is such a source of personal pride that he even sued the author of a book that estimated his wealth in mere millions, rather than billions, of dollars. The official tally – from Forbes magazine, which is the unofficial arbiter of these things – is that Mr Trump was worth $3bn (£2bn) at the last count, but that was before a string of disasters that was still unfolding yesterday.

It emerged that the Trump Organisation and its partners in Dubai were mothballing work on a 62-storey steel and glass skyscraper on one of the palm tree-shaped artificial islands in the Arabian Gulf. The development was meant to be a hotel and residential complex boasting Norman Foster bathtubs and furniture by the Italian designer Poltrona Frau, and Mr Trump had personally earmarked one of the penthouse suites. But demand has collapsed along with the fortunes of the wealthy that had flocked to Dubai in the boom.

Continued>>>
http://www.independent.co.uk/news/world/americas/trouble-in-trump-town-as-tycoons-fortune-dwindles-1047081.html

[polichick]

1. Who does this guy think he's fooling?? lol

[KharmaTrain]

2. Looks Like The Top Of His Building In Chicago...

Dare I say, it's not a bad looking building, but still incomplete...and I wonder if the Donald is gonna get the 3.5 mil for those still incomplete penthouse suites? Maybe he could use that hair to top off the building...nothing says Trump more than having a dead racoon on your head.

But he's not alone...six months ago, the financial mess didn't affect the high rollers and the big ticket properties were still selling. But when your portfolio or corporation has lost 50% or more of its value, you can't roll as high as you used to. It's gonna take years for the real estate market to sort this mess out and I suspect "The Donald" may not survive the outcome.

The other day I heard Paul Krugman talk about how this real estate bust is almost identical to what happened in the Depression which all but halted major construction for nearly 30 years.

[peekaloo]

3. Next Up on NBC The Apprentice: Hairclub for Men Edition.

or maybe a starring role in the next round of action flicks with Bruce Willis known as Blow Hard.

[lunatica]

4. Honey, It Done Failed a long time ago

LOL

:puffpiece: = Donald Trump.