Peter


Donald Trump



Early Life and Success
As a child Donald was energetic and aggressive which influenced parents to send him to New York Military School in order for him to channel his energy. Trump graduated from the school, becoming a star athlete and student leader. He entered Fordham University and then transferred to the Wharton School of Finance at the University of Pennsylvania from which he graduated in 1968 with a degree in economics. Later in his life, Donald joined his father’s company, beginning his early success. Donald was influenced by his father’s decisions in financing and real estate, which helped him work along side his father, earning him his trust in handling the future business. One of Donald's first projects, while he was still in college, was the revitalization of the foreclosed Swifton Village apartment complex in Cincinnati, Ohio. His father had purchased it for 5.7 million dollars in 1962. Donald became intimately involved in the project, personally flying in for a few days at a time to carry out landscaping and other low-level tasks. After $500,000 investment, Donald successfully turned a 1200-unit complex with a 66% vacancy rate to 100% occupancy within two years. Once Donald had achieved the higher ranks of the Trump organization, he began working on more projects, working in Manhattan, the location of his new residence in 1971. Manhattan had many economic opportunities, influencing Trump to become involved in many building projects where Trump. The main attraction to Trump was utilizing attractive architectural design to win over the public. In 1978, Trump offered to build a city convention center on the west side of Manhattan. The government selected his location over two other sites.


Personal
In, 1977 Trump married Ivana Zelnickova Winklmayr, a New York fashion model who had been an alternate on the 1968 Czech Olympic Ski Team and later becoming vice president in charge of design in the Trump Organization. A year later, in 1978, they had their first son, Donald John Trump Jr. Trump later left Ivana and married Marla Maples but divorced again and is currently married to Melanie Knauss.

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Donald Trump, left, and his ex-wife, Ivana Trump stand together at a reception prior to the Hotel Industry Annual
Candlelight Gala held at New York's Plaza Hotel,
(AP Photo/Luis Ribeiro)


Financial Troubles

Trump began experiencing the effects of the recession in 1989. He had begun working on his third casino, the $1 billion Taj Mahal, which was primarily financed by high-interest junk bonds. (http://www.biography.com/articles/Donald-Trump-9511238) Loans that Trump was expected to pay were not paid and increasing debt brought Trump close to personal bankruptcy. In order to lower interest rates on debt and more time to pay it off, Trump ceded 50% of the ownership of the casino. The Trump Plaza hotel, another of Trumps projects, was forced to file a pre-packaged Chapter 11 bankruptcy protection plan after being unable to pay its debts. By 1994, Trump had eliminated a large portion of his $900 million personal debt and reduced his nearly $3.5 billion business debt. While being forced to relinquish his Trump Shuttle, he was able to retain Trump Tower in New York City and his three casinos although according to the members of the Trump Organization, he never retained anything but the owners merely promised to give him about 30 percent of the profits once the site was completely developed or sold. The Trump organization finally announced a restructuring of its dept. The plan called for Trump's individual ownership to be reduced from 56 percent to 27 percent, with bondholders receiving stock in exchange for surrendering part of the debt. Since then, Trump Hotels has been forced to seek voluntary bankruptcy protection to stay afloat. After thecompany applied for Chapter 11 Protection in November 2004, Trump relinquished his CEO position but retained a role as Chairman of the Board. In May 2005 the company re-emerged from bankruptcy as Trump Entertainment Resorts Holdings.

Financial Recovery
The Trump organization is now in a recovery state where Trump has projects for their resurgence like the Trump International Hotel and Tower – Honolulu. Construction of the Trump International Hotel and Tower - Chicago seems to be proceeding as planned although 30% of the units remain unsold. The Trump Tower International Hotel has had floor reduction but is still manageable. The 2008 recession has had its affect on Trump, causing him to get into a lawsuit with Deutsche Bank for not pay for his $40m loan with Deutsche Bank saying 'Trump is no stranger to overdue debt' referring to his previous difficulties in handling his business during the previous recession.
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(http://www.allvoices.com/news/8161446-breaking-donald-
trump-begins-not-running-for-president)

2012 Presidential Candidacy
Trumps experience in the business industry has helped him rise up when in a financial situation. Getting caught in a recession and recover when in such drastic situations. Donald is currently still running his Organization and is also a potential candidate for president in 2012 saying, "For the first time in my life, I'm actually thinking about it.” Trump’s known publicity has made him a recognized character in the world. "I hear the
[poll] results are amazing -- I don't know what the results are. It wasn't my poll. I didn't take this poll, I didn't pay for this poll, but I hear the results are amazing," Trump said. Although, in this article (http://tunedin.blogs.time.com/2011/02/11/breaking-donald-trump-begins-not-running-for-president/?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+time%2Ftunedin+%28TIME%3A+Tuned+In%29), Trump has been proven not to be running for president due to “humiliation and being made to look bad publicly” It is unclear weather Trump will be running or not.
(http://www.nypost.com/p/news/local/donald_trump_seriously_considers_HpWRnhtvmQ2UcNKLcCZxvI)




Social
Political
Economic
- Donald is known to a be a World Wrestling Entertainment (WWE) fan and has been an active participant in several shows. (ESCOhost)
- Trump has contributed to both Republican and Democratic parties. (Jstor)
- Sold Swifton Village for $6.7 million, which he bought for $5.7 million. (EBSCOhost)
- As a way of aiding Jennifer Hudson and several of her other relatives after a family tragedy, Trump let her and her family stay at the Trump International Hotel & Tower Chicago free of charge. (Jstor)
- Atlantic city has millions of people coming in and Trump is optimistic about it. He sees that once the area is improved, there will be a great profit. (Jstor)
- Trump has been in financial troubles back in the 80’s and early 90’s, owing many people a lot of money. He has recovered since then and is now worth near $3 billion. (EBSCOhost)
- In Trump’s show “The Apprentice”, rather than just getting lavish prizes, Trump will try to arrange with project managers to help those who have gotten ‘fired’ to get a start on their career. (EBSCOhost)
- Donald Trump wishes for universal healthcare as a presidential candidate saying “Our people are our greatest asset.” (Jstor)
- Trump proposed a 14.25% one-time tax to erase national debt. (Jstor)
- Donald Trump plans to be one of Comedy Central’s Roasts (2011) where he will be the one ‘roasted’.
- Trump had switched to the Democratic Party from the Republican Party in 2001 and again registered as a Republican in 2009 (Jstor)
- The New York government helped pay for the old Penn Central, which Trump gained the rights to.
- Trump owns Trump International Hotel &Tower Chicago, which was ranked by Forbes as having one of the best spas and pools in the city.
- He is a potential Candidate for 2012 election. (EBSCOhost)
- Trump estimated a project to be finished with $110 million but cost the city $750 million to $1 billion.








Time Line


Quiz

1.) How was Donald Trump as a child?
a. Lazy
b. Energetic
c. Poor
d. Kindhearted


2.) Where did his parents send him when he was young?
a. New York Military School
b. Swifton Village
c. Fordham University
d. Wharton School of Financ


3.) What was one of Trump's first projects and how much did he sell it for?
a. Swifton Village; $5.7 million
b. Trump Tower in Newyork; $6.7 million
c. Swifton Village; $6.7 million
d.Trump International Hotel &Tower ; $5.7 million


4.) Who is Trump's current wife?
a. Ivana Zelnickova Winklmayr
b. Melanie Knauss
c. Marla Maples
d. Mary Anne McLeod


5.) When did Trump first experience the effects of the recession?
a. 1978
b. 1971
c. 1977
d. 1989


6.) Trump will be running for president in 2012.
a. True
b. False
c. It is unclear weather he will be running or not


7.) Trump has never been in any financial crisis'.
a. True
b. False


8.) Trump's International Hotel and Tower in Chicago was ranked as having _ by Forbes
a. the best view of Chicago
b. one of the most elegant places to stay
c. one of the best spas and pools in the city
d. the greatest place to stay


9.) Trump is not a fan of WWE.
a. True
b. False


10.) Trump relinquished his _ position but retained a role as __
a. CEO; Chairman of the Board
b. presidential; CEO
c. Chairman of the Board; CEO
d. CEO; a presidential candidate



ANSWERS

b. Energetic
a. New York Military School
c. Swifton Village; $6.7 million

b. Melanie Knauss
d. 1989

c. It is unclear weather he will be running or not

b. False
c. one of the best spas and pools in the city

b. False
a. CEO; Chairman of the Board





Donald Trump


Cited sources

"Biography: Donald Trump, Entrepreneur - by Justin Manucci - Helium." Helium - Where Knowledge Rules. Web. 08 Mar. 2011. <http://www.helium.com/items/1810499-donald-trump-biography>.
"Donald Trump Aide In Iowa To Gauge Presidential Interest." Google. Web. 08 Mar. 2011. <http://webcache.googleusercontent.com/search?q=cache:P8irQCabB_EJ:www.huffingtonpost.com/2011/03/07/donald-trump-iowa_n_832481.html donald trump social&cd=2&hl=en&ct=clnk&gl=us&client=safari&source=www.google.com>.
"Donald Trump Biography." Biography.com. Web. 08 Mar. 2011. <http://www.biography.com/articles/Donald-Trump-9511238>.
"Jennifer Hudson: Donald Trump Lends A Helping Hand." Entertainment Newswire | Black Voices. Web. 08 Mar. 2011. <http://www.bvnewswire.com/2008/11/12/jennifer-hudson-donald-trump-lends-a-helping-hand/>.
"'The Apprentice': Trump Exploits Economic Crisis By Helping Those Affected by Economic Crisis." BuddyTV - TV News, Videos, Photos, Games and Celebrities. Web. 08 Mar. 2011. <http://www.buddytv.com/articles/the-apprentice/the-apprentice-donald-trump-ex-37572.aspx>.
Slater, Robert. No Such Thing as Over-exposure: inside the Life and Celebrity of Donald Trump. Upper Saddle River, NJ: Prentice Hall, 2005. Print.