Trump's plan would give him a 10% equity stake in the new company, but Icahn says it won't work. According to Icahn's comments in court papers, allowing Trump's plan to sail through would lead to a re-leveraging of the company, and would set it up for a fourth appearance in bankruptcy court.

Continue reading Donald Trump Battles Carl Icahn in the Press

Donald Trump Battles Carl Icahn in the Press originally appeared on BloggingStocks on Mon, 21 Dec 2009 11:00:00 EST. Please see our terms for use of feeds.

"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."

Continue reading Donald Trump's brand takes a hit -- can it survive?

Donald Trump's brand takes a hit -- can it survive? originally appeared on BloggingStocks on Wed, 18 Feb 2009 14:41:00 EST. Please see our terms for use of feeds.

As I predicted, Trump Entertainment Resorts (NASDAQ: TRMP) is filing for bankruptcy in the wake of Donald Trump's firing himself from the company's board. Did Apple's (NASDAQ: AAPL) iPhone have anything to do with the bankruptcy filing? I sincerely doubt it. But that doesn't mean casinos aren't worried about the iPhone showing up at their blackjack tables.

How so? In Nevada, where card counting is legal but card-counting devices are not, gambling regulators are warning casinos about a card-counting program on the iPhone and iPod Touch. The program can help its users predict their odds of winning a hand at blackjack so they can adjust their bets accordingly. In Nevada, it's legal to do what the iPhone program does, as long as you can keep it all in your head. Get a little help from Apple and you could be charged with a felony.

Continue reading Did iPhone bankrupt Trump?

Did iPhone bankrupt Trump? originally appeared on BloggingStocks on Tue, 17 Feb 2009 09:15:00 EST. Please see our terms for use of feeds.

Continue reading Stocks in the news: GM, WMT, TRMP, VZ, SIRI, MSFT, TEVA, AMZN

Stocks in the news: GM, WMT, TRMP, VZ, SIRI, MSFT, TEVA, AMZN originally appeared on BloggingStocks on Tue, 17 Feb 2009 08:20:00 EST. Please see our terms for use of feeds.

Continue reading Trump Entertainment Resorts files for bankruptcy

Trump Entertainment Resorts files for bankruptcy originally appeared on BloggingStocks on Tue, 17 Feb 2009 07:30:00 EST. Please see our terms for use of feeds.

Trump Entertainment Resorts (NASDAQ: TRMP) has been squeaking out forbearance agreements with its lender for months to avoid bankruptcy, but that game could finally be coming to an end.

The Wall Street Journal reports (subscription required) that "Bondholders to Trump Entertainment Resorts are planning to force the real-estate mogul's Atlantic City casino group into involuntary Chapter 11 bankruptcy early in the coming week, say several people familiar with the matter."

Continue reading Trump Entertainment Resorts could finally file for bankruptcy

Trump Entertainment Resorts could finally file for bankruptcy originally appeared on BloggingStocks on Sat, 14 Feb 2009 16:40:00 EST. Please see our terms for use of feeds.

He also had harsh words for Obama's predecessor: "I'm not a fan of George Bush," he said. "I think he has been the worst president maybe we've ever had. He's a total disaster. Frankly, when the economy cratered, that was the end, because the only thing he could say about his administration was that the economy was good. Well, it turned out that it was falsely good, not really good."

Continue reading Donald Trump has kind words for Obama

Donald Trump has kind words for Obama originally appeared on BloggingStocks on Tue, 03 Feb 2009 18:45:00 EST. Please see our terms for use of feeds.

Trump Entertainment Resorts gets a two week reprieve originally appeared on BloggingStocks on Thu, 22 Jan 2009 13:45:00 EST. Please see our terms for use of feeds.

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.

CNBC goes easy on Ivanka Trump originally appeared on BloggingStocks on Sat, 10 Jan 2009 17:40:00 EST. Please see our terms for use of feeds.

Donald Trump hates to appear the loser, at anything. It damages his reputation as a business superman. It may prevent him from getting a fourth wife. He could lose his TV series. Success is Trump's way in the front door and always has been.

One place where Trump has stumbled is his gaming and gambling business. He is not alone. Many casino companies, including MGM Grand (NYSE: MGM), have been hurt by too much debt, over-building and the recession.

Trump Entertainment Resorts (NASDAQ: TRMP) has already missed a $53 billion debt payment. According to the FT, "The group, which operates three properties in Atlantic City, is saddled with $1.7bn of debt, of which about $1.2bn is bond debt." The paper says that one of Trump's options is to take the company private and give creditors stock in the new business. In the midst of a credit crisis they may rather do that then get pennies on a dollar in Chapter 11.

Who gets screwed? Why the common shareholders, of course. Two years ago, Trump shares were above $23. Now they trade at 21 cents.

Trump may get out of this without it costing him a dime to restructure the debt. People who bought the stock, perhaps because his name was attached to the company, will get zilch.

Douglas A. McIntyre is an editor at 247wallst.com

Trump may try to save gaming business originally appeared on BloggingStocks on Fri, 19 Dec 2008 11:11:00 EST. Please see our terms for use of feeds.

Deutsche Bank sues Donald Trump originally appeared on BloggingStocks on Mon, 01 Dec 2008 09:24:00 EST. Please see our terms for use of feeds.

Trump Entertainment Resorts (NASDAQ: TRMP) disclosed on Friday that it would delay making a $53.1 million interest payment on its senior secured notes due 2015 as it looks to restructure.

The company owns and operates the Atlantic City's Trump Taj Mahal Casino Resort, Trump Plaza Hotel and Casino, and the Trump Marina Hotel Casino. The Donald serves as the nonexecutive chairman of the board and his daughter Ivanka is also a director.

The company's results have suffered along with the broader tourism economy, but the Trump properties in Atlantic City have also been hurt by their dated feel and the company's lack of cash that has made necessary updates difficult.

As I wrote back in March, Donald Trump has continued to loot this sinking ship: In 2007 he was paid $2 million for serving as chairman of the board in addition the company's purchases of Donald Trump-branded water and other goodies.

The stock closed at 31 cents per share on Friday.

Trump Entertainment Resorts misses interest payment originally appeared on BloggingStocks on Sat, 29 Nov 2008 15:40:00 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.

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.

Donald Trump wants Spitzer call-girl for new TV show originally appeared on BloggingStocks on Mon, 31 Mar 2008 17:47:00 EST. Please see our terms for use of feeds.

And yet its namesake, Donald J. Trump, has made quite a bit of money as it bleeds red.

Mr. Trump was paid $2 million for serving as chairman in 2007 -- a sum that I would say is completely undeserved, given the company's lack of performance while he devoted his time to sparring with Rosie O'Donnell on daytime talk shows. And then there's this gem:

Continue reading Failing casino company pays off for Donald Trump

Failing casino company pays off for Donald Trump originally appeared on BloggingStocks on Tue, 25 Mar 2008 15:06:00 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.

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.

As you may have noticed, I regularly scan the internet for stories that give me an opportunity to trash one of my least favorite people in the financial world: Donald Trump.

TMZ is reporting that Nights at Vegas, Inc. is suing Trump's royal derriere and combover for $4 billion, alleging that he made it impossible for the company, which leases units at the hotel bearing his name in Las Vegas, to do business by barring them from using the name "Trump" in their advertising.

The company is seeking $1 billion in compensatory damages and $3 billion in punitive, just for fun.

TMZ adds that "Donald Trump is being sued for $4 billion. No big whoop, unless you're only worth around $2 billion."

In his great book, TrumpNation, Timothy L. O'Brien claims that there are reasons to doubt Trump's claims of being a billionaire.

If TMZ and O'Brien are right, maybe the winner of Celebrity Apprentice can donate the money to Trump's legal defense fund -- although that might disappoint the 11 people who watch the show.

Donald Trump sued ... for more money than he has? originally appeared on BloggingStocks on Thu, 31 Jan 2008 15:46:00 EST. Please see our terms for use of feeds.