Word: plaza
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Dates: during 1990-1999
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...laws-to-be. Betsy's fiance Jake comes from a wealthy family from the East Side of Manhattan. His family is in investment banking--they buy and sell companies, Betsy explains to her chubby Italian aunt--and offer to pay for the whole soiree in high style. ("At the Plaza Hotel, maybe?" they suggest.) Hopper, at the suggestion, says he'd like to finance the wedding himself. He is, of course, again dreaming...
...load by stripping down his empire. Investors who hold more than $1 billion in junk bonds that Trump issued to finance his three casinos have seen the market value of their securities plunge by as much as 50%. Bondholders of two Atlantic City properties, the Trump Castle and Trump Plaza Hotel and Casino, filed a lawsuit last week charging that the tycoon had diverted clientele from his older casinos -- contrary to his assurances -- to his new Taj Mahal...
...fueled his juggernaut have changed sharply. The slumping Northeast economy has undermined real-estate values, so that many of Trump's properties are worth far less than he estimated when he borrowed against them to make other purchases. Real-estate experts believe that if Trump were to sell the Plaza Hotel, which he bought in 1988 for $400 million and spent at least $25 million refurbishing, he could lose millions on the investment...
...casino operations suffered a tragic loss, when three of Trump's top-notch casino executives died in a helicopter crash. Among them was Stephen Hyde, 43, chief executive of Trump's gaming operations. "Steve knew how to force Donald to listen," says Jack O'Donnell, who headed the Plaza Hotel and Casino until he resigned in April. "Once Steve was gone, Donald had to get more involved in the business. He started operating the budget based on his ego, not on reality." As the opening of the Taj came under repeated delays, | Trump grew increasingly abusive toward employees...
SKYSCRAPER (PBS, debuting May 7, 8 p.m. on most stations). The building of Manhattan's 47-story Worldwide Plaza is chronicled in five weekly episodes...