Word: trumps
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...Icahn's strategy is a so-called prepackaged Chapter 11 agreement under which TWA will shed almost half its $2.4 billion in debts and emerge from its reorganization with $400 million in operating cash. Similar to the arrangement that Donald Trump fashioned with his bankers earlier this summer, such a deal eliminates much of the uncertainty that managers face when they surrender control of a tattered enterprise to a bankruptcy judge. Instead, the owner and creditors present the judge with a solution acceptable to all. If the complex TWA agreement is approved, the carrier may swoop...
...until the de facto deportation policy runs its course, businessmen are leery of replacing lost inventory. The government's inexplicable failure to set a reasonable compensation policy for goods lost during the occupation has aided stagnation as well. Most businessmen are also waiting to see whether the Emir will trump his consumer-debt order by similarly forgiving commercial loans. "Now we have Saad's idiotic statement about Saddam," says the Gulf Bank's Sultan. "Where is business confidence to come from? Who from the outside will invest here if our leaders are trembling? And what interest rates will we have...
...fledged and fractional billionaires. There are the inheritors and the self-made, the legit and the tainted, the inventors and the investors, the generous and the tight. Some shun the spotlight, like 94-year-old shipping billionaire Daniel K. Ludwig. Others crave it, like former self-proclaimed billionaire Donald Trump. Sam Walton, who'd be the richest businessman in the world, Forbes says, if he hadn't divvied his $18.5 billion Wal-Mart stake among his family, is famous for his battered Ford pickup, while the late Bhagwan Rajneesh, who was blessed more richly with followers than cash or good...
...City and Boston, for example, has been served for the past few years by two financially shaky shuttle operations. That is about to change. Delta's purchase of the Pan Am Shuttle gives the Atlanta-based airline 52% of that traffic. Now Northwest is negotiating an agreement with Donald Trump's bankers, who have taken over his shuttle as part of his financial restructuring. In the coming months, travelers in the busy corridor probably will have the best vantage point for a fierce new shuttle shoot-out: the discounted seats aboard the planes...
...else but Donald Trump could come up with a way to attract attention in Palm Beach, Fla., in the midst of the Kennedy rape scandal? The downsized duke of debt wants to subdivide Mar-a-Lago, the historic oceanside estate he bought in 1985. Trump plans to slice the property into nine parcels that could bring him a total of $30 million. But some locals oppose the plan, prompting the town's landmarks commission to postpone for a month its decision on Trump's application. He has warned that if the board turns him down, he will sell the mansion...