Donald Trump<\/a> as the “eighth wonder of the world,” the now-GOP presidential candidate sold his Atlantic City interests in 2009 amid his casino company’s bankruptcy and restructuring.<\/p>\nTrump sold TER to a hedge fund in 2009. After TER once again fell into bankruptcy, Icahn purchased the gaming and hospitality company in 2016.<\/p>\n
A bankruptcy court permitted Icahn to cancel certain benefits for Taj workers when he purchased the bankrupt casino resort in March. He told the union that he needed more time before restoring benefits to their previous levels.<\/p>\n
In addition to the restoration of their medical and pension benefits, Local 54 striking bartenders, wait staff, cooks, and housekeeping service members also demanded increased hourly wages.<\/p>\n
Icahn said it wasn’t feasible. That angered union officials who pointed out that Icahn is worth tens of billions of dollars.<\/p>\n
“For a few million bucks, he could have had labor peace and a content work force,” Unite Here Local 54 President Bob McDevitt said. “But instead he’d rather slam the door shut.”<\/p>\n
Icahn says he stands to lose $100 million on the Trump Taj Mahal.<\/p>\n
“McDevitt has proven over and over that he has no regard for the truth,” Icahn said in late August. “The best thing that could happen for Atlantic City would be for McDevitt to leave, and I’d happily buy him a one-way plane ticket and pay his moving costs.”<\/p>\n","protected":false},"excerpt":{"rendered":"
Carl Icahn wasn’t joking about closing the Trump Taj Mahal casino in Atlantic City. Icahn will be chalking up the “investment” as a $100 million loss. Thousands of jobs will be lost and the livelihoods of many families will be thrust into jeopardy. Members of the Unite Here Local 54 union walked off the job […]<\/p>\n","protected":false},"author":42,"featured_media":39567,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,18],"tags":[],"acf":[],"yoast_head":"\n
Carl Icahn Files Closing Paperwork for Trump Taj Mahal<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n