"History is a wonderful thing, if only it was true"

Sunday, March 08, 2009

Third time the charm?

Piece from 2005 on Duh Donald.

We'll likely watch the make believe "Celebrity Apprentice" just to poke fun at the "host"

Will this recession be another series of failures for his "empire"

What's He Really Worth? - New York Times:

"By 1993, with his casinos in hock, most of his real estate holdings either forfeited or stagnant and his father slipping into the fog of Alzheimer's disease, Donald Trump, at the age of 47, had run out of money. There were no funds left to keep him aloft, and as the bare-bones operation he maintained in Manhattan started to grind to a halt, he ordered Nick Ribis, the Trump Organization's president, to call his siblings and ask for a handout from their trusts. Donald needed about $10 million for his living and office expenses, but he had no collateral to provide his brother and sisters, all three of whom wanted a guarantee that he would repay them.

The Trump children's anticipated share of their father's fortune amounted to about $35 million each, and Donald's siblings demanded that he sign a promissory note pledging future distributions from his trust fund against the $10 million he wanted to borrow."

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