Another day, another Donald Trump lawsuit.

Bloomberg reports that "Trump and Los Angeles-based Irongate Development allegedly induced buyers with marketing materials touting Trump's involvement when he had merely licensed his name to the project, known as Trump Ocean Resort Baja, according to the complaint filed yesterday on behalf of 69 condo buyers in state court in Los Angeles."

Continue reading Donald Trump gets sued ... again

Donald Trump gets sued ... again originally appeared on BloggingStocks on Mon, 16 Mar 2009 15:35:00 EST. Please see our terms for use of feeds.

The real estate market is as bad as it gets, so lenders are getting cold feet about big projects. Even Donald Trump, who can usually work magic filling his buildings with tenants, is running into problems. (It should be noted he has never been good at the casino business and spends too much time doing TV junk like The Apprentice).

Trump may not have much of an argument. He wants an extension to the loan for his residential tower in Chicago, which means a portion of its has lapsed. Why the banks involved, including Germany's largest bank, Deutsche Bank (NYSE: DB), would do that is unclear.

According to The Wall Street Journal, "The suit demands -- among other things -- that an extension provision in the original loan agreement be triggered because of the unprecedented financial crisis in the credit markets now prevailing, in part due to acts Deutsche Bank itself participated in." In other words, the financial crisis almost rises to the level of being an "act of God." Not quite, but getting close.

Trump's real problem is not the banks. Since everyone in the U.S. is poor, no one wants to buy his expensive Chicago condominiums. A lawsuit won't solve that.

Douglas A. McIntyre is an editor at 24/7 Wall St.

Trump sues lenders originally appeared on BloggingStocks on Sat, 08 Nov 2008 12:40:00 EST. Please see our terms for use of feeds.

The focus of last week's preview was on oil and energy companies, and we saw that big oil had a good week, reporting better-than-expected results and record profits driven by high prices in the third quarter. Energy-related companies are well represented again this week and expectations in general remain high.

Early in the week, analysts surveyed by Thomson Financial anticipate that the big earnings gainers will include EOG Resources Inc. (NYSE: EOG), Anadarko Petroleum Corp. (NYSE: APC), and Cimarex Energy Co. (NYSE: XEC), which are expected to post profits of $2.24 per share (up 64.7% from a year ago), $1.48 per share (up 52.7%) and $2.26 per share (up 61.1%) respectively. All three of them have offered positive surprises in recent quarters, and analysts on average recommend buying EOG and Anadarko. Other expected big earnings gainers early in the week include Forest Oil Corp. (NYSE: FST), Pioneer Natural Resources Co. (NYSE: PXD), Comstock Resources Inc. (NYSE: CRK), and MasterCard Inc. (NYSE: MA). The earnings of phosphates producer Innophos Holdings Inc. (NASDAQ: IPHS) are expected to have risen 92.3% to $3.37 per share. Innophos beat estimates in the previous quarter by a whopping 210%, and analysts have been impressed with Innophos's lack of debt and pricing gains despite the slowing economy, so, on average, they recommend buying IPHS.

Also early in the week, analysts expect Goodyear Tire & Rubber Co. (NYSE: GT), Kaiser Aluminum Corp. (NASDAQ: KALU), and Oshkosh Corp. (NYSE: OSK) to report that their profits fell 52.9% to $0.33 per share, 45.1% to $0.67 per share, and 41.2% to $0.67 per share, respectively. These companies have tended to beat estimates in recent quarters, and the consensus recommendations of analysts are to buy them. However, PMI Group Inc. (NYSE: PMI), one of the largest private mortgage insurance providers in the U.S., is expected to take another hit as the housing slump drags on. The California-based company is expected to have widened its net loss from $1.04 per share a year ago to $2.43 per share in the most recent quarter. Its shares are down 84.5% from a year ago, and have been trading recently near their 52-week low.

Continue reading The week in preview: Expectations remain high for energy and oil

The week in preview: Expectations remain high for energy and oil originally appeared on BloggingStocks on Sun, 02 Nov 2008 12:30:00 EST. Please see our terms for use of feeds.

Does Donald Trump Jr. share his dad's bad timing? originally appeared on BloggingStocks on Wed, 20 Aug 2008 14:08:00 EST. Please see our terms for use of feeds.

Donald Trump's son 'plans' $1 billion India fund originally appeared on BloggingStocks on Wed, 23 Jul 2008 18:06:00 EST. Please see our terms for use of feeds.

Trump Organization embroiled in assault controversy originally appeared on BloggingStocks on Tue, 17 Jun 2008 17:05:00 EST. Please see our terms for use of feeds.

Ivanka Trump heads to Israel to check out real estate opportunities originally appeared on BloggingStocks on Fri, 30 May 2008 16:19:00 EST. Please see our terms for use of feeds.

Trump Entertainment Resorts, Inc.

Trump sells Marina Hotel Casino for $316 million originally appeared on BloggingStocks on Thu, 29 May 2008 15:58:00 EST. Please see our terms for use of feeds.

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.

Confession: I bought the book. It was only five bucks and I just couldn't help myself. I am thrilled that the Donald seems to be on a heck of a losing streak. Celebrity Apprentice was a flop and his cologne has sold poorly, and yet he's continued to receive big pay for his failing casino company.

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.

Overexposed! Donald Trump's latest book already on sale originally appeared on BloggingStocks on Sun, 27 Apr 2008 17:40:00 EST. Please see our terms for use of feeds.

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?

Continue reading Heir apparent: Ivanka Trump, heir to what exactly?

Heir apparent: Ivanka Trump, heir to what exactly? originally appeared on BloggingStocks on Tue, 18 Mar 2008 22:10:00 EST. Please see our terms for use of feeds.

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.

Donald Trump's Celebrity Apprentice brags in full-page ads originally appeared on BloggingStocks on Wed, 12 Mar 2008 18:30:00 EST. Please see our terms for use of feeds.

Here are a few highlights from this past week's earnings coverage from BloggingStocks:

• BJ's Wholesale Club Inc. (NYSE: BJ) beat fourth-quarter estimates on lower costs and strong sales.
• Ciena Corp. (NASDAQ: CIEN) first-quarter profit doubled on strong sales, lifting the sector.
• Clean Harbors Inc. (NASDAQ: CLHB) trounced expectations as it completes acquisitions.
• Del Monte Foods Co. (NYSE: DLM) beat estimates on cost cutting and raised its guidance.
• HSBC Holdings PLC ADS (NYSE: HBC) profit soared in 2007, beating analysts' expectations.
• Intel Corp. (NASDAQ: INTC) lowered its first quarter earnings forecast, citing weak chip prices.
• LeapFrog Enterprises Inc. (NYSE: LF) narrowed its losses for the fourth quarter and full year.
• LKQ Corp. (NASDAQ: LKQX) beat fourth-quarter estimates and raised its guidance.
• Midway Games Inc. (NYSE: MWY) widened its losses in both the fourth quarter and full year.
• Staples Inc. (NASDAQ: SPLS) reported a solid fourth quarter and increased its annual dividend.
• TiVo Inc. (NASDAQ: TIVO) posted a smaller-than-expected fourth-quarter loss due to licensing deals.
• Trump Entertainment Resorts Inc. (NASDAQ: TRMP) fourth-quarter and full-year losses widened.
• Universal Health Services (NYSE: UHS) beat earnings expectations but matched revenue estimates.

Also, Dell Inc. (NASDAQ: DELL) struggles to maintain profitability against competitor Hewlett-Packard Co. (NYSE: HPQ). See Timothy Sykes's take on Warren Buffett's annual letter to Berkshire Hathaway (NYSE: BRK.A) shareholders. And Zac Bissonnette is interested in where earnings actually come from.

Upcoming results to watch for include Kroger Co. (NYSE: KR), Boston Beer Co. (NYSE: SAM), J. Crew Group Inc. (NYSE: JCG), Jones Soda Co. (NASDAQ: JSDA), Blackstone Group (NYSE: BX), and Men's Wearhouse Inc. (NYSE: MW).

Visit AOL Money & Finance for more earnings coverage.

Earnings highlights: Ciena, Staples, Intel, Tivo, Trump, Del Monte and others originally appeared on BloggingStocks on Sat, 08 Mar 2008 16:10:00 EST. Please see our terms for use of feeds.

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.

Continue reading Saks profit soars, Trump Entertainment tumbles

Saks profit soars, Trump Entertainment tumbles originally appeared on BloggingStocks on Wed, 05 Mar 2008 14:54:00 EST. Please see our terms for use of feeds.

Donald Trump cologne on clearance at TJMaxx -- the end of an era originally appeared on BloggingStocks on Mon, 26 Nov 2007 15:25:00 EST. Please see our terms for use of feeds.

Lots more quarterly reports rolled out this past week, and here are some highlights of earnings coverage from BloggingStocks:

• Alcatel-Lucent (NYSE: ALU) reported more losses and more job cuts.
• Alvarion Ltd.'s (NASDAQ: ALVR) record quarter fuels speculation of a Cisco (NYSE: CSCO) buyout.
• Avon Products Inc.'s (NYSE: AVP) profit rose 61%, buoyed by strength in emerging markets.
• Chevron Corp. (NYSE: CVX) fell short of expectations due to tighter margins.
• CIGNA Corp. (NYSE: CI) had a solid quarter but warned about 2008 earnings.
• Clorox Co. (NYSE: CLX) blamed profit loss on materals costs, and announced acquistion of Burt's Bees.
• Colgate-Palmolive Co. (NYSE: CL) beat estimates by a penny and had strong sales overseas.
• Crocs Inc. (NASDAQ: CROX) beat earnings estimates and revised its full-year forecast.
• Dell Inc. (NASDAQ: DELL) announced it would restate revenues, ahead of its November quarterly report.
• Exxon Mobil Corp. (NYSE: XOM) missed expectations, also due to tighter margins.
• Given Imaging Ltd. (NASDAQ: GIVN) cited FDA approval delays for disappointing results.
• Hertz Global Holdings Inc. (NYSE: HTZ) posted record revenues and appointed a new CFO.
• Humana Inc.'s (NYSE: HUM) positive surprise lifted the share price to a new all-time high.

Continue reading Earnings highlights: Crocs, Exxon, Kraft, P&G, Sirius, and others

Earnings highlights: Crocs, Exxon, Kraft, P&G, Sirius, and others originally appeared on BloggingStocks on Sat, 03 Nov 2007 10:10:00 EST. Please see our terms for use of feeds.

Continue reading Smart investors follow Buffett into the Promised Land (that's Israel)

Smart investors follow Buffett into the Promised Land (that's Israel) originally appeared on BloggingStocks on Fri, 02 Nov 2007 15:40:00 EST. Please see our terms for use of feeds.

MAJOR PAPERS:

• 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).

• According to two people familiar with the talks, the latest round of negotiations to buy Trump Entertainment Resorts (NASDAQ: TRMP) have fallen apart, reported the New Jersey Star-Ledger.
• From BusinessWeek's "Inside Wall Street" column:
  
• 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.
  

Newspaper wrap-up: Trump Entertainment sale falls apart originally appeared on BloggingStocks on Fri, 02 Nov 2007 09:15:00 EST. Please see our terms for use of feeds.

Buyout rumors send Trump Entertainment Resorts (TRMP) up 17% originally appeared on BloggingStocks on Fri, 05 Oct 2007 16:40:00 EST. Please see our terms for use of feeds.

This post is part of our Money Face-Offs feature. Let us know who you think comes out ahead in this head-to-head match-up, and check out our other Money Face-Off posts.

How does one go about drawing a comparison between Paris Hilton and Ivanka Trump? In my estimation, although there a some mildly reasonable parallels between the two ladies, they are two significantly different people. It's difficult in this format to strip the comparison down to bare facts and then to build a picture of each woman's character and experience from there. So, what I shall try to do is give you just the basics to help you and then I'll leave you to determine which of these women you'd prefer to spend some time with. I'd be pleased if you would comment about which woman you would choose as a business associate, an employee, a national leader, or a life partner.

Continue reading Money Face-Off: Ivanka Trump vs. Paris Hilton

Money Face-Off: Ivanka Trump vs. Paris Hilton originally appeared on BloggingStocks on Sat, 15 Sep 2007 14:10:00 EST. Please see our terms for use of feeds.

Yesterday morning I reported that shares of Trump Entertainment Resorts (NASDAQ: TRMP) were flat after the company reported a lousy quarter. I suggested that could be the sign of a bottom and, by the end of the day, the stock was up 26.5%. Today's Wall Street Journal takes a look at the company, and it isn't too impressed.

The stock was up ostensibly because investors have some level of confidence in the new CEO Mark Juliano, and his ability to transform the company's casinos from venues for senior citizen day-trippers into higher-end resorts.

The problem is that the company, like Donald Trump's ego, is bloated with debt, and will have difficulty making the investments to compete with better-financed players. The piece quotes analysts Justin Sebastiano: "They don't have the assets to compete on the level that they have to."

That the company failed to find a buyer and saw its stock plummet after that failure is a sign that others agree: There isn't a lot of value to be had here, and the company will be losing money for at least the next 2 years.

The piece also says that "A big part of Wall Street's discomfort with Trump Entertainment is that it is most vulnerable to the downturn in Atlantic City and hasn't successfully diversified away from that market after failing to win a slots operating license in Pennsylvania."

The stock may look cheap, but it isn't. The balance sheet's a mess and it isn't profitable. It may already have bottomed for now, but this looks like a stock investors should take a pass on.

Does Trump Entertainment Resorts (TRMP) have a future? originally appeared on BloggingStocks on Wed, 08 Aug 2007 10:10:00 EST. Please see our terms for use of feeds.