Ivanka Trump -- the "executive vice president of development and acquisitions" of her daddy's company -- appeared on CNBC on Friday to talk about New York City real estate and The Trump Organization's plans. Referring to the tough financing situation, she said that "We're waiting for that to open up and then we'll be ready to pounce," she said. "We are very well positioned to take advantage of great opportunities."
She also said that the company had been conservative in its financing over the past few years -- which doesn't exactly explain why Deutsche Bank is suing her father over issues relating to a loan on a building in Chicago. Meanwhile Trump Entertainment Resorts (NASDAQ: TRMP) is missing interest payments and staring down bankruptcy. Oh, by the way, Ms. Trump is on that company's board of directors, but there was no mention of the fact that as she spoke the company's stock was trading at about 26 cents per share. When she joined the stock was trading at more than 20 times that price.
Like her father, Ms. Trump is full of optimism about The Trump Organization and how much better positioned it is than similar companies, no matter how bad the headlines seem to be.
That's her schtick: But it's disappointing that CNBC's anchors didn't hold her feet to the fire a little more.
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Reader Comments (Page 1 of 1)
1-10-2009 @ 10:44PM
long memory said...
Remember when Donald was divorcing Ivanka's mother how he said he was essentially bankrupt?
Then he said he wasn't going to file bankruptcy because of the potential risk of an administrator's decisions.
The banks fell for it then!
And Now?