Happier Times
Here is a photo of Donald and Fred Trump with Ed Koch, then the Mayor of New York City. Taken in July 1982, they appear happy in this photo. However, Trump would be devastated to see that his decision to buy casinos in New Jersey was not profitable. As he bought Atlantic City properties, the financial performances of these places started going downhill. Trump was left with no choice but to sell off Trump Shuttle, his airline. On top of that, he needed to restructure debt and bid adieu to Trump Princess, his mega-yacht. In 1995, he consolidated the casino properties under the name Trump Hotels & Casino Resorts. It had to go bankruptcy restructuring in both 2004 and 2009.
Happier Times
Football Fan
Trump had another failed attempt in the Garden State aside from the casinos in Atlantic City. He also hired Walt Michaels to be the Head Coach for the New Jersey Generals, his United States Football League team. He purchased the team in 1983 and hoped to turn the league into a worthy contender against the National Football League. However, he made a huge mistake when he tried to run this league. Many teams were already losing money, and it did not help that Trump wished to move the schedule to fall/winter so that it could compete directly with the NFL. The USFL filed an antitrust suit against the more established league and won, although it only got $1 for it. Since it was a “victory in name only,” many teams could no longer afford the costs associated with running the teams. The league had to disband in the end.
Football Fan