Is Icahn Getting Ready to Sell the Trump Plaza?

Billionaire investor Carl Icahn appears to be getting ready to sell his remaining Atlantic City property, the Trump Plaza. An Icahn-backed company, IEP AC Plaza, recently paid $3 million for the deed to the long-shuttered casino, according to property documents filed in December. (You can have a look at the docs here and h/t to Reuben Kremer for his ceaseless monitoring of the property records).

Icahn’s conglomerate Icahn Enterprises took control of the Trump Plaza and Trump Taj Mahal when the previous owner, Trump Entertainment Resorts, entered bankruptcy in 2014. Icahn sold the Taj Mahal to a consortium of local investors and Hard Rock International in 2017. But his attempts to sell the Plaza were stymied by the site’s ground lease, which was held by earlier investors and acted as a so-called poison pill to prevent the sale, according to the New York Post.

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Celeste Fernandez Is Trying To Talk About The Economy

Celeste Fernandez, candidate for freeholder at-large in Atlantic County, said she made her decision to run for office on November 9, 2016, which makes it easy to count her among the millions of women moved to action by the ascension of a reality TV star who boasted of sexual assault to the office of President of the United States.

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Prescription Probe Pleas, Trump’s Opioid Commitment – Friday’s Roundup

We are back! Sorry for all the downtime, folks. We had a storage issue that took longer than we would have hoped to fix, but we learned a whole lot along the way about how to manage our site, so hopefully in the long-run it will mean a better user experience as we figure out how to fix everything.

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The Persistence of Donald

The great Trump Taj Mahal liquidation sale opened to the public at 10:00 a.m. on July 6, about eight months after the casino closed and 167 days after Donald J. Trump was sworn in as the president of the United States. History was very much the subtext of the Taj Mahal fire sale, which offered customers a chance at a piece of the Donald, recently assured of his own place in history. But since mid-February, the surname of the president has been scrubbed from the property under the terms of a deal between Donald and his friend and economic adviser, Carl Icahn, who until recently controlled the property. There were no TRUMP-branded artifacts for sale at the Taj.

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In Atlantic City, Kick a Lifeguard, Win a Prize

Socialism for billionaires, free-enterprise for the average Joe

My old friend the fat-cat retired Atlantic City lifeguard pension profiteer is in the news again in this season of “shared sacrifice” here in our fabled Queen of Resorts, this time in the pages of the New York Times, where he’s presented as a symbol, I perceive, of the outrageous greed and excess at the heart of our dilapidated republic. Novice economists might suppose this greed and excess was  concentrated within our citadels of high finance, or among the titans of industry—in this case the casino gambling industry—who so enriched themselves while leaving a string of empty eyesores atop our most important natural resource (the beach and boardwalk). This would be incorrect. Our problems here in Atlantic City—generations in the making—are not the result of a concentration of political power in the hands of financiers or gambling moguls, but rather to the unrestrained avarice of our municipal working class. John Steinbeck, that great chronicler of the American everyman, once wrote that socialism never took root in our native soils because the American proletariat does not identify as an exploited working class.

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