The Times had a long profile of Carl Icahn over the weekend, wondering if the activist investor still has a fight in him, his likes and dislikes (being referred to as “raider,” for one), his early years in the biz (“When he turned 15, he played his own version of the ice futures market as a cabana boy at a beach club, ordering extra ice on hot mornings to sell to visitors who would run out later in the day”) and whether he has any plans to retire (“What else am I going to do?” Mr. Icahn asks. “Play shuffleboard?”). The article also discusses Icahn’s public feud with Donald Trump over three Atlantic City casinos bearing the Don’s name, which Carl was trying to gain control of. Here’s what Donald had to say about the matter:
“He told me he was doing it because he heard I wasn’t involved, but he knew I was involved, that I had a deal with bondholders,” Mr. Trump said. “I was very surprised and also very disappointed that Carl got involved,” Mr. Trump added. He said the two had been friends for years and that Mr. Icahn had sought his advice when he was divorcing his first wife. Mr. Trump said the two had not spoken since the call.
And here’s Ichan’s side the story:
“I should be the one that is surprised he is upset,” Mr. Icahn said. “I might possibly feel bad had I interfered at a time when he was running the business,” but that’s not the case, he added.
But the way more important thing that Uncle Carl wants to clarify? These two are in no way close friends, even using the loosest definition of the term. You wanna know how Carl knows this? Take a look at this picture:
Donald Trump is dueling it up with activist investor Carl Icahn over Atlantic City’s Trump Entertainment Resorts. Specifically, the two are fighting for ownership of the property, which Trump does not currently own. Don’s argument is that the casinos “would be hurt if Icahn won because it would take the Trump name off them.”
Cityfile reports that you now have the opportunity to sit your ass in the Don’s cockpit. Trump put his Boeing 727 up for sale yesterday. No word on the asking price but it’ll probably cost you considering that you’re getting three bathrooms with “gold plated sinks,” “abundant storage for fine china and crystal” and a “circular shower.” Make him an offer. Donald Trump Has An Aging Plane To Sell You [Cityfile]
The son of Donald Trump is also called Donald Trump, and now he is following his father’s footsteps by attaching his name to a financial company that will speculate on real estate. Two years ago, Donald Trump launched a mortgage company that would focus on luxury properties. It failed dramatically when the housing market crashed. Now Bloomberg is reporting that Junior Trump is planning on launching a “hedge fund” that will invest in property in India.
Trump mortgage turned out to be a company that was run by a shifty chief executive and had very little to do with anyone called Trump. The Donald Senior had licensed his name out to the company but had little role in management–a fact that no-one knew until it failed.
So will The Little Donald be running a hedge or just attaching his name to it? It’s not clear right now. What is clear is that he intends for the fund to invest money in the same way that Trump Mortgage did–specializing in high end properties. Others who are looking to invest in real estate in India? Oh, right. Those real estate savvy folks over at Lehman Brothers.
Trump Jr. Plans $1 Billion Fund for Indian Property [Bloomberg]