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Flashback: In Chicago, Trump Hits Headwinds (George Soros bailed out Donald Trump in 2008)
Wall Street Journal ^ | OCTOBER 29, 2008 | ALEX FRANGOS

Posted on 04/17/2011 11:12:28 AM PDT by jimbo123

Donald Trump's tallest construction project ever is facing some tall challenges.

Many real-estate developers are under pressure these days as lenders and investors rush to cut their exposure to the market. But Mr. Trump's 92-story Trump International Hotel & Tower in Chicago, which will be the tallest building constructed in the U.S. since the Sears Tower opened in 1973, may be especially vulnerable because it's getting hit by a triple whammy of colliding forces: the credit crunch, the reversal in the housing market and weak retail sales.

The shiny glass skyscraper is one of the few that the brash Mr. Trump developed without partners. The situation also puts pressure on one of the project's major lenders, Fortress Investment Group LLC.

(Excerpt) Read more at online.wsj.com ...


TOPICS: Business/Economy; Front Page News; News/Current Events
KEYWORDS: georgesoros; soros; sorostrump; trump
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To: jimbo123

You have provided nothing to substantiate any of that!

Again, was the Soros entity’s funds in the form of an upfront investment in the project, or were the funds in the form of some emergency bailout after the project was underway?

If they were upfront funds, you need to have the moderator change the misleading headline.


21 posted on 04/17/2011 11:57:49 AM PDT by Will88
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To: Will88
Ah, so instead of Soros bailing Trump out, he just massively invested in one of his real estate projects. I feel better already.

Not.

22 posted on 04/17/2011 11:58:59 AM PDT by dirtboy
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To: jimbo123

Sorry, I would need to see the loan papers before I believed that. But anything is possible.


23 posted on 04/17/2011 12:01:01 PM PDT by org.whodat
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To: jimbo123

how did a smart guy like the donald think Conservatives, the largest voting block of the republican party, would miss this? i once learned that when dealing in real estate, in inflationary times, even if you make a mistake, the inflation will cover you. the donald’s basically a huge ego that got his initial down payment dollars from his austere pappy. he’s been ridin’ the community redevelopment act for decades. dollars to donuts says his real estate is hurtin’ for certin’ in these times. he’s leveraged to the hilt, and he’s bein’ squeezed like no one has ever been squeezed. why am i thinkin’ what he’s doin’ is a monumental con?


24 posted on 04/17/2011 12:03:35 PM PDT by stickywillie
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To: WhistlingPastTheGraveyard
Grove Capital, the real estate arm of Soros Fund Management, put up a large chunk of the $160 million shortfall for the Trump Tower Chicago project in 2004. But I don’t see any mention of that in this 2008 WSJ piece.

There are several unsupported and very specific assertions in this thread, including yours. I've seen mention that Grove Capital provided financing along with Deutsche Bank and others.

Were all those lenders making up "shortfalls", or just Grove, or were they all actually initial investors? From what I've read, they sound like initial investors.bailout of this Trump project.

Here's a little article. Sounds like an initial investment to me. Not a 'bailout' and not a 'shortfall'

Trump Tower Chicago

25 posted on 04/17/2011 12:09:56 PM PDT by Will88
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To: jimbo123

OK, so I’m dense and dumb. Anything about finance beyond $5 is above my pay grade. Would you be good enough to connect the dots?

This article states that a “Fortress” group bailed out Trump’s Chicago deal. Soros isn’t a Fortress founder or partner, so how does he fit in? Sorry, but I am lost.


26 posted on 04/17/2011 12:10:02 PM PDT by EDINVA (wh)
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To: Alberta's Child
I began to wonder just how stable that guy's real estate empire was from the moment his show first appeared on network television.

Trump has built virtually nothing for a decade. Investors and builders do the project, he sells a license to put his name on the tower, and helps with marketing and sales. Rarely is he financially involved. Smart move on his part, and he lost fortunes as a builder and owner. Trump Entertainment Resorts filed their third Chapter 11 bankruptcy, 2009, and the stock was delisted from the exchange. He's a laughable sideshow to the big casino guys, Wynn, Kirk Kerkorian, and Adelson.

3rd generation life long NY democrat. Part carnival barker, part thug. Insiders figure he's worth maybe 15% of what he claims, and a lot of that was luck; his Dad was a billionaire who cosigned the early loans (Hyatt). First trump bankruptcy, Daddy walked into casino and bought $3 million in chips to stop the locks being put on the doors. You can't believe one word out of his mouth.

But seeing as what wimps the republicans are, I'm all for his shaming Obama. His ego and mouth will keep him from going anywhere, but he is doing a good thing putting issues on the table and being a distraction. I hope he doesn't run.

27 posted on 04/17/2011 12:12:53 PM PDT by T. Jefferson (Batton down the hatches, full speed in reverse)
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To: jimbo123

Fear and lothing mean that Donald is on the right track. When every other article is about the criminal empty suit that sits in the white house, then these a-holes can start to throw rocks.


28 posted on 04/17/2011 12:12:59 PM PDT by Steamburg (The contents of your wallet is the only language Politicians understand.)
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To: stickywillie

It’s funny to see all of the Trumpettes excuse his financial dealings with George Soros on multiple real estate deals, and not just the one in Chicago.

Soros has thrown The Kenyan under the bus has told Trump it’s time to pay the piper for all the loans and the Chicago bailout.

The good news is Soros’ plan to use Trump to divide the Tea Party won’t work.

And it’s good to get the birth certificate and college scholarship fraud news out there to a bigger audience via Trump, the stooge.


29 posted on 04/17/2011 12:13:41 PM PDT by jimbo123
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To: dirtboy
Ah, so instead of Soros bailing Trump out, he just massively invested in one of his real estate projects. I feel better already.

Yep, it was an initial investment in a project, back in 2004. But keep your conspiracy theory going. It's always something.

30 posted on 04/17/2011 12:15:46 PM PDT by Will88
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To: T. Jefferson

Just read the article. Appears Donald is the builder on that tower.


31 posted on 04/17/2011 12:16:31 PM PDT by T. Jefferson (Batton down the hatches, full speed in reverse)
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To: Will88

Yeah, why would I worry when one of the most prominent enemies of conservatism has such extensive business dealings with Trump? Silly me.


32 posted on 04/17/2011 12:16:57 PM PDT by dirtboy
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To: WhistlingPastTheGraveyard

Both parties are two sides of the same coin. No doubt the display over the budget we are watching is a play orchestrated by puppeteers such as Soros who are executing their own agenda while we are distracted. Ultimately most of us will be living in crowded public housing, working dull and meaningless jobs and escaping into television and video games in our non working, non sleeping moments. The elites will continue running the show and living the good life as Obama demonstrates through his frequent vacations and parties.


33 posted on 04/17/2011 12:18:21 PM PDT by Soul of the South (When times are tough the tough get going.)
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To: dirtboy

Trump would have had to cough up $40 million or so of his own cash he personally guaranteed to Deutche Bank if he hadn’t gotten the bailout by Soros on the mezzanine financing. Trump isn’t as rich as he lets on.


34 posted on 04/17/2011 12:21:31 PM PDT by jimbo123
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To: dirtboy

Seriously. If The Donald needed a couple hundred million he should have called you or me, right?


35 posted on 04/17/2011 12:22:16 PM PDT by EDINVA (wh)
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To: EDINVA

Nothing like trying to downplay a direct connection between Trump and Soros. You Trumpettes are pretty pathetic in trying to make a case for the Donald.


36 posted on 04/17/2011 12:23:35 PM PDT by dirtboy
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To: jimbo123
The loan from the Soros entity was acquired along with the initial financing back in 2004, before the groundbreaking ceremony even took place. Now just how that a "bailout"?

Oct. 28, 2004 - Donald Trump has lined up three New York hedge funds, including money from billionaire George Soros, to invest $160 million in his Chicago skyscraper, a key piece in perhaps the largest construction financing in the city's history, according to real estate sources and public documents.

Link in #25.

37 posted on 04/17/2011 12:31:27 PM PDT by Will88
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To: Will88

The Soros bailout took place AFTER Deutche Bank foreclosed on the construction loan in 2008.

You Trumpette Soros apologists are pretty funny.


38 posted on 04/17/2011 12:34:13 PM PDT by jimbo123
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To: jimbo123
Trump would have had to cough up $40 million or so of his own cash he personally guaranteed to Deutche Bank if he hadn’t gotten the bailout by Soros on the mezzanine financing. Trump isn’t as rich as he lets on.

I think you're tangling up what happened in 2004, when Trump acquired the mezzanine loan from the Soros entity, and 2008 when the article you linked was written. Now, just how did Trump acquire a loan in 2004 to avoid using personal cash for a payment that came due to Deustch Bank in 2008?

39 posted on 04/17/2011 12:36:43 PM PDT by Will88
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To: jimbo123
The Soros bailout took place AFTER Deutche Bank foreclosed on the construction loan in 2008.

And where are the links for that, or the description of that in the article you posted?

40 posted on 04/17/2011 12:38:25 PM PDT by Will88
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