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by leon on December 4, 2008
Things have not been looking good for Donald Trump lately. The credit crunch and the real estate slump have hurt him badly with reports that his a 62-storey skyscraper in Dubai has been put on hold, that Trump Entertainment Resorts is on the edge of bankrutpcy, and his golf course and luxury home complex in Scotland going nowhere.
On top of that, a former employee of his LA golf club is suing him for labor violations. And the Financial Times reports that Deutsche Bank is suing him over a 92-storey Chicago tower development. Meanwhile, Bloomberg reports that Trump Entertainment Resorts is facing a massive restructuring, and being taken out of the Trumpster's control, now that it has failed to meet a a $53 million bond interest payment.
Permalink: Trump and the real estate slump
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