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The bankruptcy of Trump Entertainment Resorts (NASDAQ: TRMP) and legal and financial woes surrounding the Trump International Hotel & Tower are causing some to question whether Donald Trump's name as a symbol of luxury will continue to carry value."His brand is associated with success and making money. And every time the word bankruptcy appears next to Trump, that's not good," says Allen Adamson, managing director of Landor, a brand consultancy. "He can take a few chinks in the armor, but I think he's probably at the limit."
Were Trump not already woefully past his prime, these problems might hurt him more. But the ratings of The Apprentice have been declining every season since the show debuted, and Trump's appearances at tack events like The Learning Annex have cemented his status as a blowhard. I've noticed a large quantity of his "high-end" cuff links and colognes deeply discounted at stores like TJMaxx.
Donald Trump's days as a marketable brand of luxury are probably over anyway, with or without his latest setbacks. He is most respected by people who know little about business, and the more knowledgeable followers of the financial world mostly dismiss him as a charlatan. But there are enough naive people who are attracted by Trump's grandiosity that he should be able to "earn" millions with his motivational speeches and Trump University programs for years to come.
The latest installment of The Apprentice debuts on March 1st, and it will be interesting to see how the show resonates in a very different economy from the one it began in.
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Reader Comments (Page 1 of 1)
2-18-2009 @ 3:58PM
Kent said...
Donald Trump has been through this before during the early 90's and was able to extricate himself from financial disaster with these same casino properties. I was impressed with his financial acumen at the time by borrowing several million from his father in exchange for casino chips with the understanding that his father agreed not to cash them in. Now having general partners in the mix, his ability to be creative is somewhat constrained. Donald Trump is more effective at being a sole proprietor and appears not to amenable to work with financial partners.
3-23-2009 @ 1:12PM
Rsaling said...
I think the Donald needs to get back to the basics. What is he really good at - Real Estate. The Apprentice was good when it started, but then it degenerated into having the losers camp out. Now with the celebrities, they don't seem to care about the charities they are competing for, but rather serve their own ego. Especially this season. Andrew Dice Clay won't make brownies... Dennis Rodman doing his own thing, not participating etc.
Donald, Get back to what made you successful. Maybe if the Apprentice went to a format which actually provided jobs, his brand would raise in value again.