- Anonymous1 decade agoFavorite Answer
DONALD TRUMP * 當奴杜林普 *
[ full name : Donald John Trump, Sr ]
Donald John Trump, Sr. (born June 14, 1946 in Queens, New York) is an American business executive, entrepreneur and author. He is the CEO of Trump Organization, an American-based real estate company in the premium real estate market.
When he was thirteen, his parents sent him to the New York Military Academy hoping to direct his energy and assertiveness in a positive manner. It worked reasonably well: while at NYMA, in upstate NY, Trump earned academic honors, played varsity football in 1962.
Trump began his career at his FATHER`s company, the Trump Organization, and initially concentrated on his Father`s preferred field of middle class rental housing. One of his first projects was the revitilisation of the ailing Swifton Village apartment complex in Cincinnati, Ohio - turning a 1200 unit complex with a 66% vacancy rate to 100% occupancy within a year. When the Trump Organization sold Swifton Village for $12 million they cleared $6 million in profit.
By 1990, the effects of recession left him unable to meet loan payments. Although he shored up his businesses with additional loans and postponed interest payments, increasing debt brought Trump to business bankruptcy and the brink of personal bankruptcy. Banks and bond holders had lost hundreds of millions of dollars, but opted to restructure his debt to avoid risking losing even more in a court fight. Things were so bleak for Trump at this time that in the August 21, 1990 edition of the Jersey Record, columnist Mike Kelly wrote [ If we still had DEPTOR`s prisons, Trump would be in the Dungeon. ] Kelly added that [ DONALD Trump is a Third World NATION ! ] Also in 1990, he co-produced the game show Trump Card in syndication.
By 1994, Trump had eliminated a large portion of his $900 million personal debt and reduced significantly his nearly $3.5 billion in business debt. While he was forced to relinquish the Trump Shuttle (which he had bought in 1989), he managed to retain Trump Tower in New York City and control of his three casinos in Atlantic City. Chase Manhattan Bank, (which lent Trump the money he needed to buy the West Side yards, his biggest Manhattan parcel) forced a sale of the parcel to Asian developers. According to former members of the Trump Organization, Trump did not retain any ownership of the site`s real estate - the owners merely promised to give him about 30 percent of the profits once the site was completely developed or sold. Until that time, the owners kept Trump on to do what he did best: build. They gave him a modest construction fee and a management fee to oversee the development. They also allowed him to put his name on the buildings that eventually rose on the yards because his well-known moniker allowed them to charge a premium for their condos.
Problems loomed for TRUMP`s casino resorts. In a May 28, 2004 Wall Street Journal article, Trump said the spectre of bankruptcy bothered him [ from a psychological standpoint. ] but added, [ It really WOULDN`T matter that much ! ] A number of his bondholders disagreed. In the same article, [ Meyer Marvald, a Florida retiree who says he owns about $44,000 of the BONDS. ] said Trump [ has the Sword of Damocles hanging over our HANDS. ] On October 21, 2004, Trump Hotels & Casino Resorts announced a restructuring of its debt. The plan called for Trump's individual ownership to be reduced from 56 percent to 27 percent, with bondholders receiving stock in exchange for surrendering part of the debt. Since then, Trump Hotels has been forced to seek voluntary bankruptcy protection to stay afloat. As a result of his company filing for Chapter 11 Protection, in May of 2005 Trump relinquished his CEO position..........
Trump`s story is long and interesting......
You`d better go visit the following website :Source(s): http://en.wikipedia.org/wiki/Donald_Trump