Trump Taj Mahal Merchandise Up For Grabs At Liquidation Sale

[demmiblue]

Source: TPM



ATLANTIC CITY, N.J. (AP) — Fans of the Trump Taj Mahal Casino Resort can take home a piece of the former casino before it’s gutted to make way for the Hard Rock Hotel and Casino.

Furniture, poker tables, grand pianos, art and even its famous chandeliers will be among the merchandise up for grabs at a liquidation sale that starts at 10 a.m. Thursday.

National Content Liquidators says the sale will continue until everything’s gone.

President Donald Trump opened the Taj Mahal in 1990, proclaiming it to be “the eighth wonder of the world.” But within a year it had filed for bankruptcy, crippled by choking debt. Trump cut most of his ties with Atlantic City in 2009, having lost control of the casino company he once owned in a bankruptcy.

Billionaire investor Carl Icahn shut the Taj Mahal down in October after a bitter strike with the casino’s main union, and he sold it to Hard Rock International in March for $50 million. That’s about 4 cents on the dollar from the $1.2 billion that Trump spent to open it.

More: http://talkingpointsmemo.com/news/trump-taj-mahal-casino-mechandise-for-sale?utm_content=buffer0ce7c&utm_medium=social&utm_source=twitter.com&utm_campaign=buffer

Good thing we have a businessman as president.

[Vinca]

1. A person could probably make a ton of money selling small stuff on ebay to Trump humpers.

I can only imagine what the "art" is. Probably cheesy motel prints.

[demmiblue]

3. I know, right?

They probably think that the height of refinement is his gaudily gilded home at Trump Tower.

[demmiblue]

2. Trump's gamble: A failed bet in Atlantic City

[DefenseLawyer]

6. Yet someone else is putting a casino in the exact same location

I think Trump's foray into casinos was always more about money laundering than profits.

[BigmanPigman]

4. Are the proceeds going to his re-election campaign?

(just kidding)

[niyad]

5. how clueless does one have to be to go bankrupt owning a casino? that has amused me

for years.

[Jim Lane]

8. This is a common misconception. Trump made money on the Taj.

He financed the construction by selling junk bonds that paid high interest rates. The Taj showed a net operating profit but not enough to cover the interest payments.

The big losers were the people who had bought the bonds because they foolishly thought Trump must know what he was doing. Well, in a way he did know what he was doing -- he was looking out for #1. He collected various payments, such as for the use of his name. At some point he boasted that he had done well in Atlantic City by getting out before things went bad.

[Permanut]

7. Wish I could be there..

and maybe bid on a Time Magazine cover, you know, an authentic memento.