By: rogerklotz

rogerklotz — Sat, 16 Jul 2016 17:19:00 +0000

In reply to Steve Norton. Didn't you also say that the workers shouldn't threaten a strike at any of the other properties and what they wanted wasn't possible in this current market? Also Icahn has made money off the Taj all the way back to the early 90's in the first bankruptcy, and has made plenty off the property charging double the interest that Trump Ent was paying prior to Icahn coming back involved with the property.

By: Steve Norton

Steve Norton — Sat, 16 Jul 2016 03:25:00 +0000

I don’t understand the quote from union spokesperson Ben Begleiter “Both Trump and Icahn took lots of money out of this property, millions of dollars that could have been used to rebuild it and provide good wages and benefits for workers”. Donald did profit from the bankruptcy, but Mr. Icahn was one of the lenders whose debt was crammed down in the chapter 11 filing. His Company’s choice was to take a big write off of their investment, or to provide more investment capital and bring it out of bankruptcy. The Unite Here workers should be thankful that he did, and that they still have a job. And in spite of a $100 million he indicates needs to be spent to bring the property up to acceptable standards; the Icahn Company had to cover $72 million in 2015 losses, and more in the first quarter of 2016. It seems like the strikers are having fun, rallying outside the Taj, and now in New York City. But I expect reality to hit home, as the 1,000 strikers contemplate sitting at the unemployment lines, and trying to qualify for food stamps and all of the other support programs available to the unemployed.

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By: rogerklotz

By: Steve Norton