Word: taj
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Before making his fateful decision to sink $1 billion into the bejeweled Taj Mahal Casino in Atlantic City, Donald Trump should have done his homework on the ill fortune that befell the builder of the original Taj. The cost of constructing the 17th century Indian marvel, which took 20,000 laborers 22 years to complete, eventually exhausted the royal treasury of the Shahjahan and triggered the decline of the Mogul Empire. Nearly 350 years later, the Taj's modern namesake may have unleashed the grandiose downfall of Manhattan's self-styled King of the Deal...
...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...
...planted in 1987, when Trump got tangled in a bruising takeover battle with another tycoon, Merv Griffin, for control of Resorts International. In a deal they both claimed as a victory, the two split up the company, with Griffin taking most of Resorts and Trump getting the uncompleted Taj Mahal. Griffin's older, debt-laden properties went into bankruptcy only two years later. Trump had to borrow an estimated $1 billion to finish the monstrous Taj. Ominously, the city's casino business, which had grown pell-mell during the '80s, abruptly stagnated...
...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...
...TRANSLATED a wedding invitation in Dutch at the Taj Mahal's employment office while looking for a job in Atlantic City last week. The "Human Resources Manager" was grateful and impressed, but in the end, all she could offer me was a job as a bus greeter at $3.80 an hour...