egafd.com

"Poised to emerge from Chapter 11 bankruptcy next month, Trump Hotels & Casino Resorts is taking on new board members charged with turning around a company whose Atlantic City casinos have been in bankruptcy twice.
Forced to relinquish majority control, Trump must deal with a reconstituted board of directors dominated by people chosen by bondholders who now control two-thirds of the company. While he remains chairman and the single-largest stockholder, Trump will be sharing decision-making duties with six new board members, five of whom were chosen by bondholders.
Trump Hotels, which owns three Atlantic City casinos and a riverboat casino in Gary, Ind., collapsed under the weight of $1.8 billion in high-interest debt and filed for Chapter 11 last November. "

What a triumphant example of the capitalist system. In spite of debts like that, the arsehole is still hailed as a being a successful businessman.

Mart

A strange place Atlantic City and most of the Jersey Shores for that matter, a sort of sad feel to it and stuck in another time. The casinos have a totally different atmosphere to the ones in Vegas or Reno. There's a faded elegance combined with the tackiness of any seaside resort. After a few days it left me really depressed and I was glad to move on.

If the place makes others feel the same way I did, no wonder the Casinos ran up huge debts, because there's just something says to you to get out of the place. Running luxury Resort Hotels in the middle of poverty makes no sense when they could out them north of NYC in pleasant surroundings.

Donald may rise like a phoenix, but he'll probably fall again - only not before he's managed to salt enough millions away to keep him in luxury for whatever time he's got left. With debts of $1.8bn the banks have nothing to lose by giving him a chance - but it's against the odds he'll take Atlantic city back to what it once was.