Carl Icahn Ready, Willing To Man The Craps Table At Trump Taj Mahal

Author:
Publish date:

Carl Icahn, his lawyers assure the bankruptcy judge, really will pour $100 million into a casino that’s losing $8 million a month. But only if he gets his way, and that way is $175 million in tax breaks and other state aid and, oh yea, the bankruptcy judge ripping up the casino’s contract with its union. And he’ll do it even if the now-contractless union goes on strike, because, really, can the Trump Taj Mahal really be a worse business without them than with them?

Cutting off the union contract could mean labor action at the Trump Taj Mahal, and Mr. Icahn had said previously he wants quiet on the employee front if he is going to put more money in to the troubled gambling operation….

Mr. Icahn instructed him to tell the judge that “even if the rejection of the contract causes the union to strike and there’s labor strife,” he will move ahead with the investment in reorganizing the company, as long as the government concession also falls into place.

Icahn: Labor Unrest Wouldn’t Disrupt Taj Mahal Takeover [WSJ]
Court to rule Friday on Atlantic City’s Taj Mahal union pact [Reuters]

Related