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Article: Donald Trump quits casino company's board
- Article from:
- AP Online
- Article date:
- February 14, 2009
- Author:
CopyrightCopyright 2009 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. (Hide copyright information)
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Donald Trump fired himself Friday from the casino company that bears his name.
Spurned by bond holders who rejected his effort to buy Trump Entertainment Resorts, the real estate mogul and his daughter Ivanka are resigning from its board of directors.
He called the troubled casino company he once controlled "worthless to me now." He is the largest shareholder, owning more than a quarter of its stock, yet stressed that it comprises "substantially less than 1 percent of my net worth."
The company won a fourth extension Wednesday on restructuring $1.25 billion in debt, and some analysts have predicted it will file for bankruptcy protection for a third ...