Last month I wrote about the Clown Prince of Nepotism Donald Trump Jr.'s grandiose announcement of plans to raise $1 billion to invest in India's booming real estate market.
Now BusinessWeek's HotProperty column is expressing some skepticism. After noting that Trump got the idea back in November after speaking at a real estate conference in Mumbai, Prashant Gopal notes that "The market has changed quite a bit since then. Inflation and interest rates are climbing and shares of Indian builders, home price appreciation, and demand for land are slowing. [...] Of course, this might be a good time to jump in and pick up land at distressed-sale prices. But he will be competing against established players."
Still: the fact that Trump Jr. appears to have struck upon this idea at the height of the market is indicative of something.
But I wouldn't worry too much: the "announcement" of a $1 billion fund struck me as a more of grandiose publicity ploy/plea for credibility from a reality TV bit-player than a ground floor opportunity to get in with real estate development's next big star. I'll believe otherwise when Trump announces he's raised the money, and I won't be holding my breath.
Donald Trump Jr, the rather uncharismatic son of reality television personality Donald Trump, is looking to set up his own fund to invest in India's until recently red hot real estate market.
The younger Trump told Bloomberg that "The fund will be for acquisitions of real estate in the high end, and across the spectrum. The market place is beginning to understand and appreciate luxury, so there is a great opening for us there, as well as in resorts.''
He's looking to raise $1 billion, but given how cheap investors have become of late, I'm skeptical. What exactly are his credentials? He's 30-years-old, works for daddy, was a judge on his father's reality show, and -- the icing on the cake -- he was ousted from the board of the condo association where he lives.
If this guy can raise a billion bucks, then the economy is considerably stronger than we're giving it credit for ... or investors are considerably dumber.
But for now, these are just "plans" to raise "up to" $1 billion. I wouldn't hold my breath waiting for the money to role in, and frankly, this looks like a publicity ploy designed to create the impression that Trump Jr. is someone to be taken seriously.
The New York Post reports that the NYPD is conducting an internal affairs investigation into assault charges filed against a woman involved in ousting Donald Trump's son from the board for the condo he lived in. The Post reports that NYPD investigation documents say the charges were "beefed up" as a result of pressure from The Trump Orgainzation.
Eugenia Kaye was accused of punching the building's resident manager in the eye. According to a statement filed by a police officer who arrived at the scene, Daniel Gozalez, the assaulted manager, "was pressured by the Trump organization to beef up the complaint against Ms. Kaye to have her arrested, because she had Donald Trump Jr. ousted as a board member of the building."
What does Donald Trump have to say about this? He called Kaye a "terrible person" but added that he knows "nothing about it." If that seems like somewhat of a contradiction to you, it does to me too. There's a juicy tale on condo association intrigue somewhere in here, but there aren't currently enough details available.
This post from Gothamist has some of the reasons Ms. Kaye got Trump Jr. kicked off the board. To many, just having Donald's Trump blood running through your veins should be a good enough reason to get the boot.
Ivanka Trump -- the daughter of comedy icon Donald Trump and a director at his flailing casino company, Trump Entertainment Resorts (NASDAQ: TRMP) -- is back from a trip to Israel where she was scouting out possible investment opportunities.
In an interview with Haaretz.com, she said that it was her first trip to Israel and that she saw tremendous opportunities for investment in Israel. If you care about her opinions on the US market, she feels that "now is the time to buy" and that prices will "go right back up."
It was only a few years ago that the Israeli government established the laws to make real estate investments trusts available there. Excellence Investments' "REIT 1" became the first REIT to trade on the Tel Aviv stock exchange.
Once an Israeli REIT lists its stock on the US market as an ADR, American investors will have an easy opportunity to follow Ivanka into Israel.
Trump Entertainment Resorts, Inc. (NASDAQ: TRMP) has sold its Trump Marina Hotel to New York-based Coastal Marina for $316 million. In a self-congratulatory press release, Trump chairman "Donald J. Trump" said that the hotel "has been an important part of our company with a loyal customer base and a dedicated team."
Well then it's good news that they sold it. In the past year, shares of Trump Entertainment Resorts have gone from $16 to as low as $2.29. The stock is up more than 20% today, but it's still a tiny fraction of its former high. Who knows: maybe if they sell all the important parts of the company the stock will go back over $5. Trump Entertainment Resorts really is that bad, having reported a pre-tax loss of $249 million last year.
But good news for my fellow Donald Trump haters: Coastal Marina is planning to rename the hotel "Margaritaville." Trump Entertainment CEO Mark Juliano commented that "The execution of this transaction will provide us with additional financial flexibility to effectively master-plan the future path of our company in the midst of an overall transformation which has already been marked by many successes."
Reality check: the company has lost $252 million since inception. Whatever its "many successes" are, they have been heavily outweighed by failures.
It was a thrilling -- and badly needed -- reminder that it's possible to be unsuccessful in business by underestimating the intelligence of the American people.
While wandering through the clearance section at Barnes & Noble (NYSE: BKS), I stumbled on a stack of copies of Think Big and Kick Ass in Business and Life, Donald Trump's newest book published in October of last year. The price? $4.99, a steep discount from the $26.95 listed on the jacket. A look inside shows that this book is a first edition, first printing -- meaning that the publisher -- Collins -- badly overestimated demand.
I opened to a random page and -- no joke -- this is the first line I read: "With Rosie O'Donnell it got a lot worse. Rosie O'Donnell is a total degenerate." We then get to read five pages about how horrible Rosie is and also, of course, how great Donald Trump is.
But wait! In a sign that Trump may actually have some sense of taste, Celebrity Apprentice has turned down O.J. Simpson's request to appear on the next season.
This post is one of several on business heirs apparent. Let us know in the comments whether you think about Ivanka Trump, and be sure to check out the other heir apparent posts.
Ivanka Trump, 26, daughter of Donald Trump, is an heir apparent to her dad's real estate and entertainment holdings. Her business title is the vice president of real estate development and acquisitions at the Trump Organization, which is a holding company for many of Trump's businesses (Trump's casinos are part of Trump Entertainment Resorts (NASDAQ: TRMP).
Ivanka, while arguably the most famous of Trump's children, isn't his only heir apparent. Her siblings Donald, Jr., and Eric are also currently executive vice presidents, according to Wikipedia. But she stands out as the one likely to claim the top job given her love of the limelight -- she is a frequent cover girl and has appeared on the Apprentice -- as well as her oft-proclaimed drive to succeed in business.
However, I for one am getting sick of all the talk about her heir apparent status. Money-losing casinos, licensing deals for everything from hotels to cologne, and a TV show that's been in rapid decline since the end of its first season? That empire? What's second prize, 50 shares of Bear Stearns?
Today's New York Times contains a full-page ad for Donald Trump's The Celebrity Apprentice. Right below a picture of his wildly unattractive visage, we read -- in italics and bold -- that "Once again, Donald Trump's 'The Apprentice' comes out on top," followed by some pretty obscure statistics cherry-picked to show that the show is actually a hit: #1 among 18 to 49-year-old adults on Thursday nights three times, for example.
The ad also brags about the ratings success of the first season of Trump's show -- which was way back in 2004. Taking out full-page ads to rest on your laurels is a pretty interesting marketing strategy.
What's interesting is that, by more objective standards, The Celebrity Apprentice is a flop. PerezHilton reported that the number of viewers watching the show declined a shocking 26% from its premier to its second episode. The 8.2 million viewers the show attracted in its second week was less than half of what the original Apprentice got in its prime.
Here's a tip to NBC and "Mr. Trump": if you have to take out full-page ads with obscure statistics to try to convince people that your show is a hit, your show is a flop.
In a related story, Trump Entertainment Resorts (NASDAQ: TRMP) closed on Tuesday at $3.43 -- a year ago it was trading over $17 a share. Hey Donald, put that in your full-page ad.
New York-based Saks Inc. (NYSE: SKS), the operator of Saks Fifth Avenue department stores, reported that its fourth-quarter profit almost doubled, helped by solid sales, cost controls, and one-time gains.
Earnings came to $39.5 million, or 26 cents per share, during the period that ended February 2, compared with $21.5 million, or 14 cents per share, in the same period of the prior year. Sales rose almost 5% to $999.7 million in the fourth quarter. Analysts had expected EPS of 20 cents on revenue of $993.61 million, according to a survey by Thomson Financial.
For the year, Saks earned $47.5 million, or 31 cents per share, compared with $53.7 million, or 40 cents per share, a year earlier. Sales rose to $3.28 billion, almost 12% higher than the previous year.
"I remain very positive about the long-term prospects for the luxury sector and specifically for our Saks Fifth Avenue business, " said Chief Executive Stephen Sadove. However, privately-held Neiman Marcus Inc., which reported fiscal second-quarter results today, saw only a modest rise of 8% in profits and 6% in revenue.
Ladies and gentlemen, I am officially declaring an end to the comeback of Donald Trump. The signs have been there for awhile: rampant overexposure, a feud with Rosie O'Donnell, declining ratings on "The Apprentice," a falling stock price on Trump Entertainment Resorts (NASDAQ: TRMP), a terrible book with the clown of personal finance, Robert Kiyosaki, and an appearance on World Wrestling Entertainment (NYSE: WWE).
But now it's all over. I stumbled upon Donald Trump's much-hyped cologne "Trump: The Fragrance" at Marshalls -- but it wasn't just at TJMaxx (NYSE: TJX). It was on clearance at Marshalls: $8 a bottle, way, way below its suggested retail price of $48.
I was going to get it for my dad as a gag gift (the one person I know who can stand Trump less than I can), but decided to save the money. When I told my dad about it, his reaction is a pretty good indicator of why the cologne was obviously a huge flop. Here's what he said:
If I want to smell like Donald Trump, I'll save the $8 and go roll around in dog crap.
At IsraelNewsletter, we focus on opportunities to find undiscovered Israeli companies. More than 120 Israeli companies trade on U.S. exchanges and even more trade on global exchanges. Most of these companies are small and mid caps, while a few, like generic pharmaceutical giant, Teva Pharmaceutical (NASDAQ: TEVA) are large caps. This provides diligent investors with ample opportunities to make money.
Warren Buffett knows this, and that's why he made his largest ever international investment by purchasing 80% of Israeli metalworks company, Iscar, for $4 billion last year. Buffett said, on his first visit to Israel, that "Berkshire Hathaway (NYSE:BRK.A) and Israel will be here forever, as Israel and the U.S. will be here forever." The Donald (Trump) signed two huge realty deals in Israel last year: a partnership in purchasing a building in Ramat Gan for USD 44 million, and a contract to erect a luxury hotel bearing his name on a sea-side cliff in Netanya.
Israeli companies are hot and many of them are looking for growth internationally. Bloomberg reported this week about international expansion by a few of the leading Israeli conglomerates. The article describes plans by Israeli billionaire Nochi Danker and his firm, IDB, to partner with fellow Israeli investor, Yitzhak Tshuva to invest as much as $8 billion in constructing a Las Vegas casino.
Following Chrysler's lead to cut costs in relation to slowing sales, Ford Motor Company (NYSE: F) may cut its 2008 spending by 15%, according to the Wall Street Journal (subscription required).
The Writers Guild of America, battling with Hollywood film and TV producers, is expected to call for a strike, reported the Wall Street Journal.
Siemens AG (NYSE: SI) CEO Peter Loscher is getting ready to implement aggressive earnings targets for the company's senior managers, as well as thousands of job cuts, reported the Financial Times (subscription required).
Investors may now be looking at AT&T (NYSE: T) as a "high-quality stock for the long haul," says Justin Hellman of Value Line.
While many investors may be looking at Clinical Data's (NASDAQ: CLDA) possible blockbuster antidepressant drug and genetic test, they are banking on the company's Chairman Randal Kirk, who controls 40% of the stock.
MoneyGram International (NYSE: MGI) may be looking for buyers, and John Bendall, CEO of Hermitage Capital, thinks it is worth $30 a share.
Shares of Trump Entertainment Resorts (NASDAQ: TRMP) are up 17% after the Star Ledger of Newarkreported that the Cordish Co., a Baltimore developer looking to get into the casino industry, is looking a buying the company.
Shares of Trump have plummeted in recent months after the company dismissed an offer from Dennis Gomes as too low.
According to The Ledger, "Analysts have long said finding a buyer for Trump Resorts is a long shot. The company carries a heavy debt load -- $1.25 billion plus a $500 million line of credit -- and would be an expensive proposition. A buyer also would have to pay a premium on the price of the company's bonds. And Trump has veto power over the sale of any of the casinos. If he waives that right, the company would have to pay up to $100 million to cover taxes he would owe in a sale."
The huge jump in the stock price is hard to fathom. Merrill Lynch spent months searching for a buyer with little success even as the stock price tanked which, in theory, should have made it a more attractive target.
Trump is bloated and in terrible shape, lacking the funds to revitalize itself. Oh, and Trump Entertainment Resorts is in a similar situation too.
I'll be shocked if anything comes of this latest rumor.
Last month I wrote about the Clown Prince of Nepotism Donald Trump Jr.'s grandiose announcement of plans to raise $1 billion to invest in India's booming real estate market.
Ivanka Trump -- the daughter of comedy icon Donald Trump and a director at his flailing casino company, 
Trump Entertainment Resorts, Inc.
It was a thrilling -- and badly needed -- reminder that it's possible to be unsuccessful in business by underestimating the intelligence of the American people.
Ivanka Trump, 26, daughter of Donald Trump, is an heir apparent to her dad's real estate and entertainment holdings. Her business title is the vice president of real estate development and acquisitions at the Trump Organization, which is a holding company for many of Trump's businesses (Trump's casinos are part of 
Today's New York Times contains a full-page ad for Donald Trump's The Celebrity Apprentice. Right below a picture of his 
Ladies and gentlemen, I am officially declaring an end to the comeback of Donald Trump. The signs have been there for awhile: rampant overexposure, a feud with Rosie O'Donnell, declining ratings on "The Apprentice," a falling stock price on .gif){kind=logo}
Stocks have their worst week in six years
Why haven't the Republicans said much about the economy?
Chasing Value: Are you watching WaMu?
