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Middleboro Review 2

NEW CONTENT MOVED TO MIDDLEBORO REVIEW 2

Toyota

Since the Dilly, Dally, Delay & Stall Law Firms are adding their billable hours, the Toyota U.S.A. and Route 44 Toyota posts have been separated here:

Route 44 Toyota Sold Me A Lemon



Saturday, February 14, 2009

Gambling is a Gamble These Days

Atlantic City was once held up as a success story of what casino gambling could do for the Commonwealth. It should still be held up for what casino gambling can do for the Commonwealth.
In case you missed the Bloomberg article:

Trump’s departure comes ahead of a Feb. 17 deadline to make a $53 million bond payment first due on Dec. 1. The target has been extended four times since an initial grace period ended Dec. 31. Bondholders are planning to force Trump Entertainment into Chapter 11 bankruptcy early next week, the Wall Street Journal said, citing unidentified people familiar with the matter.

“It’s a disaster and I see what’s happened with so many others, and I don’t want to be a part of it,” Trump said.

The company’s market value has tumbled to $7.3 million from its peak at $842 million in August 2005.

Trump Entertainment’s 8.5 percent notes due June 2015 traded at 14 cents on the dollar yesterday, according to Trace, the bond-pricing system of the Financial Industry Regulatory Authority.

1 comment:

Anonymous said...

Twin Rivers is next. Will the Beacon Hill brain trust notice?