Donald Trump may not be in Atlantic City any more, yet his lingering presence is still finding a way to negatively impact the people that live there. It seems that this “successful” businessman has yet another failure that can be added to his long list of horrible projects he’d started and abandoned.
Thanks to the financial disaster that the Trump Taj Mahal has become, the casino is shutting down completely after Labor Day, and Trump’s name will finally be wiped out of Atlantic City for good. Unfortunately, when this casino disappears, so will thousands of jobs.
Trump had opened the casino himself 26 years ago before it was recently handed over to his billionaire buddy Carl Icahn, who is worth $17 billion and was responsible for bailing Trump Entertainment Resorts out of bankruptcy. And yet, despite all that, Trump had left the Taj Mahal in such a sorry state of affairs that not even Icahn could save it in the five months he took ownership. Of course, the fact that the unions had gone on strike early last month in protest of Trump’s greed certainly didn’t help the case for keeping it open.
Taj Mahal is run by Tropicana Entertainment, whose president Tony Rodio commented on what a disaster the casino’s finances were in:
Currently the Taj is losing multi-millions a month, and now with this strike, we see no path to profitability. Our directors cannot just allow the Taj to continue burning through tens of millions of dollars when the union has singlehandedly blocked any path to profitability. Unfortunately we’ve reached the point where we will have to close the Taj.
The particular strike that helped to shut the Taj Mahal down was over health insurance and pension benefits, which Icahn offered to restore – by giving the workers less than what the other casinos were offering workers. The union obviously rejected it. In a statement that proves that Icahn fits right in with Trump, union president Bob McDevitt said:
I would never have thought Carl Icahn was so one-dimensional. The great deal-maker would rather burn the Trump Taj Mahal down just so he can control the ashes. For a few million bucks he could have had labor peace and a content workforce, but instead he’d rather slam the door shut on these long-term workers just to punish them and attempt to break their strike.
For someone who claims he will create so many jobs for Americans and help the economy thrive, Trump really doesn’t have much of a believable track record. Mayor Don Guardian expressed sorrow for the thousands of Americans who would be losing their jobs when the Taj Mahal closed down in a statement released on Wednesday:
It’s unfortunate and disappointing that no resolution was found to keep the Taj Mahal open with the hopes of making it profitable again. My thoughts and prayers are with the hard working men and women who will be losing their jobs after Labor Day. Although these are still tough economic times, Atlantic City has been resilient for over 160 years and we will continue to do so, as we rise to meet any challenge ahead of us.
It should be noted that Icahn is the man Trump intends to make Treasury Secretary if he’s elected. Which is terrifying, because we really don’t need a Trump #2.
You can watch a report on the Taj Mahal’s closing below:
Featured image via Mark Wallheiser / Getty Images