Trump Taj Mahal Owner Icahn Wins Fight with Casino Union

[Omaha Steve]

Source: WSJ

By PEG BRICKLEY

A federal appeals court in Philadelphia Friday upheld a decision that allowed the Trump Taj Mahal casino in Atlantic City, N.J., to escape its union contracts in bankruptcy.

The decision is a victory for Carl Icahn, the billionaire who controls the last remaining Atlantic Casino to bear the Trump name, after a series of bankruptcies.

A chapter 11 exit plan was confirmed for Trump Entertainment Resorts Inc. that puts Mr. Icahn in sole charge of the company. However, he delayed implementing the plan until the appeals court spoke on the question of the rejected union contracts.

Trump Entertainment filed for chapter 11 protection in 2014, one of several Atlantic City casino companies beaten down by a steep decline in business on the Boardwalk.

FULL story at link.

Read more: http://www.wsj.com/articles/trump-taj-mahal-owner-icahn-wins-fight-with-casino-union-1452877380

[George II]

1. Ironically, I believe one of the members of the U.S. Third Circuit Court of Appeals is......

......Donald Trump's sister!!!

[forest444]

2. "Wins" meaning:

"bribes some flatulent judge."

It how the Icahns of the world usually get their way, you know.

[Capt.Rocky300]

3. He did something similar at TWA....

as I recall. Maybe Trof will confirm or clarify.

[turbinetree]

7. Yes, he did.......................................

and he took the pension funds, he used those funds as a collateral asset.
Just like Lorenzo did with Eastern Airlines and Continental the new name being used as United
This is why he filed for the bankruptcy of the company, the pensions where the only thing that were valuable, this is why these corporate raiders are what they are:

http://billmoyers.com/2013/09/30/matt-taibbi-on-wall-streets-campaign-to-loot-public-pensions/

Honk-------------------for a political revolution Bernie 2016

Its is about getting a progressive President, Congress, and Legislature at the State and Local governments

[elmac]

4. when Icahn invests in a company

you can bet its going belly up.

[houston16revival]

5. The Great Businessman's Casino Went BK?

I suppose with enough lawyers billionaires can escape anything.

[silvershadow]

6. Good God. What a bottom-feeder he is. What a blow to unions from this court. What a sick, sad

shape we are in as a country. We are just a shell of our former selves.

[Judi Lynn]

8. Unbelievable! Great post. n/t

[Midnight Writer]

9. Thank God the owners will be protected from financial loss

If they lose out, where will my trickle down benefits come from?

All hail the Makers!