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If Donald Trump files for bankruptcy, it certainly won't be the first time. For Trump Entertainment Resorts (NASDAQ: TRMP), the Donald has a deadline of today to renegotiated a $1.25 billion debt.

What's the big deal? It turns out that Trump Entertainment -- which owns the Trump Taj Mahal, Trump Plaza and Trump Marina in Atlantic City, missed a $53.1 million bond payment on December 1, and got a 30-day extension. The holders of 70% of Trump Entertainment's outstanding senior secured notes due in 2015 agreed to wait until today to exercise their rights related to the missed bond payment. And today is the day for coming to terms on another loan as well. The lenders involved in a $490 million loan agreement also agreed to wait until today to exercise their rights.

If Trump Entertainment files for bankruptcy today, it will only be the fourth time it's done so since 1991. The weak economy is not helping Trump Entertainment. In 2008, sales at The Taj Mahal fell 5.1%, those at Trump Plaza dropped 6.4% and Trump Marina sales fell 15.8%. One analyst thinks that Trump will get another extension on his payment.

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Is Trump bankrupt? originally appeared on BloggingStocks on Wed, 21 Jan 2009 16:55:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>donald trumpDonaldTrumptaj mahalTajMahaltrump entertainmenttrump marinatrump plazaTrumpEntertainmentTrumpMarinaTrumpPlazaWed, 21 Jan 2009 16:55:00 EST<![CDATA[Taj Mahal's dollar refusal symbolic of greenback's rough 2007]]>http://www.bloggingstocks.com/2007/12/20/taj-mahals-dollar-refusal-symbolic-of-greenbacks-rough-2007/http://www.bloggingstocks.com/2007/12/20/taj-mahals-dollar-refusal-symbolic-of-greenbacks-rough-2007/http://www.bloggingstocks.com/2007/12/20/taj-mahals-dollar-refusal-symbolic-of-greenbacks-rough-2007/#commentsFiled under: , ,

What international transaction perhaps best symbolizes the U.S. dollar's rough year of 2007?

Giddy British tourists with more money to spend in New York than, seemingly, Donald Trump?

How about an international attraction that won't take dollars? In November 2007, India's Taj Mahal, one of the seven wonders of the ancient world and India's most popular shrine, announced it would no longer accept the dollar, citing the greenback's weak currency status, and accept only rupees, Bloomberg News reported Thursday.

Since January 2001 or during the past six years the dollar has fallen about 55% against the euro, 35% against the British pound, and about 10% against the Japan's yen. On Thursday the dollar was mixed against the world's major currencies. The dollar gained 0.62 cents to $1.4320 against the euro and 1.50 cents to $1.9831 against the British pound, but fell 0.25 yen against Japan's yen.

When a currency, such as the dollar, declines versus another currency, that means the purchasing power of those holding the dollar declines - - a sort of 'non-legislative' tax increase. It goes without saying that most citizens, and institutions, don't like to hold currencies that decline in purchasing power.

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Taj Mahal's dollar refusal symbolic of greenback's rough 2007 originally appeared on BloggingStocks on Thu, 20 Dec 2007 19:19:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>AsiaBritish poundbudget deficitBush Administrationconsumer spendingdollareuroEuropeexportsfeaturedfederal spendingGDPimportsIndiasavings rateTaj Mahaltaxestrade deficitU.S. CongressU.S. dollarU.S. economyyenThu, 20 Dec 2007 19:19:00 EST