This was yesterday’s hit piece –DECADE IN THE RED!
This was 1995, when the NY Times were falling all over themselves to describe the miraculous comeback by the business savvy Trump.
Though there are still four years to go in the 90’s, business and government leaders in New York honored Donald J. Trump yesterday for pulling off what they called “the comeback of the decade.”
Mr. Trump, the developer who came to epitomize opulent wealth during the 80’s before tumbling into deep financial trouble, has managed to erase much of his debt and is moving ahead with major projects at a time other developers are idling.
Judging from the attention showered on him yesterday at the Union League Club, some of New York’s civic and business leaders are quite captivated by Mr. Trump, despite the financial uncertainties that still surround some of his properties.
But the operative word at the luncheon was comeback, though Mr. Trump might dispute that he ever went far away. William D. Fugazy, the limousine magnate and chairman of the Forum Club, the group of business and civic leaders that sponsored the luncheon, presented Mr. Trump with a boomerang encased in glass. “You throw it and it always comes back,” he said as he handed it over.
In a flattering speech, Lieut. Gov. Betsy McCaughey called Mr. Trump “the comeback kid.” Charles A. Gargano, who as chairman of the Empire State Development Corporation is himself considered one of the new powers of the state, joked about a Perot-Trump presidential ticket. “He would be the most loved Vice President since Spiro T. Agnew,” he said. Mr. Gargano, who heads the state’s economic development efforts, added, “Thank you for your tax dollars.”
After the collapse of the real estate market of the 1980’s, Mr. Trump’s company was left holding some $8.8 billion in debt, causing his personal net worth to drop to a low of about $1 billion in the red by 1991.
But since then, his fortunes have changed. He continues to pursue the trademark trophy-style projects he is known for, such as a hotel and condominium project on the southwest corner of Central Park that is expected to open by late 1996.
Indeed, about an hour before the luncheon, Mr. Trump and representatives from a Hong Kong development firm huddled over drawings and models for their planned Riverside South development, a 17-building project at the site of the old Pennsylvania Railroad yard on the West Side.
In addition to his real estate ventures, revenues are strong throughout the casino business, where Mr. Trump is one of the most noteworthy operators, owning three gaming establishments in Atlantic City. “The market is quite vibrant,” said N. Bruce Turner, a gaming analyst at Solomon Brothers. “It has lifted Donald Trump’s vibrancy. Has he come back along with the market? No question.”
ht/ c. steven tucker
“I’m shocked, shocked! I say, at the duplicity of the NY Times,” said nobody.
And Shrek was 38.99 too
https://postimg.cc/JD0S5zdv
If you don’t like the bankruptcy laws work to change them. Put up or shut up.
The same NYT that I didn’t read then is the same NYT I don’t read now.
I refuse to pay that much for a crossword puzzle.
Do you suppose the NYT’s also thinks most people would use the paper to wrap compost in? Seems as though they don’t actually expect anyone to remember reading anything from a few years (hours?) ago.
I got a vacuum gauge like that you can use on Liberals that just can’t suck enough!
Trump was a dem back then so of course they have no issue with praising him at the time.
Also, whenever someone starts pointing out negative things about Trump’s past, I remind them that he was a dem when he did this or that.
They promptly change the subject.
The Jew-hating NY Times. What else could we expect from the likes of these warped, deranged fascists.
The Riverside project folks dumped Trump before construction began, he had no capital and couldn’t get a loan, he wanted his name to be his investment. What a tool