Trump entertainment seeks bankruptcy

[thewiseguy]

NEW YORK (CNNMoney.com) -- Trump Entertainment Resorts, the casino operating group, filed for Chapter 11 bankruptcy protection, according to court documents filed Tuesday in Camden, N.J.

Real estate mogul Donald Trump said Friday he was quitting his position as chairman of Trump Entertainment Resorts on Friday, according to the Trump Organization. Trump's daughter, Ivanka, also said she was quitting the board on Friday.

Also Tuesday, nine companies associated with Trump Entertainment filed for bankruptcy protection, including Trump Taj Mahal Associates, Trump Marina Associates, and Trump Plaza Associates.

As of Dec. 31, Trump Entertainment and the affiliated companies had total assets of $2.06 billion and total debts of $1.74 billion, according to the court papers.

http://money.cnn.com/2009/02/17/news/companies/trump_entertainment/index.htm?postversion=2009021710

Why would Trump and Ivana quit the board? :shrug:

[Historic NY]

1. Yawn again........"Your fired, Donald"

[Oregone]

2. Does this mean his Apprentice show will be canceled?

Or will it simply have street people vying for the chance to be part of his homeless entourage.

[burythehatchet]

3. His third bankruptcy. This should make him even more prominent.

I want to have the right to fail upwards as well.