Trump empire in trouble – where does that leave Balmedie golf course?
published this on 2:38 am, Tuesday, 2nd December, 2008Business| News| Sporting Activities | Comments (rss) | Respond | Ping |
It may well be that Aberdeen Councillor, Martin Ford, lost his Infrastructure Committee chairmanship (and recently left the council) in vain when he used his casting vote to block Donald Trump’s application to build two new golf courses and a golf resort complex ain the sand dunes at Aberdeen’s Menie Estate.
The most powerful obstacle to Trump’s plans for Aberdeen – whether or not you support them – may be about to enter the stage: bankruptcy. The world-wide credit crunch looks as if its hitting the American entrepreneur hard.
Trump Entertainment Resorts announced on 30th November 2008 that it is having to miss the $53.1 Million interest payment due to it’s bondholders yesterday (1st December). It laid the responsibility on a collapse in revenues and a poor economic environment. The company, which operates casinos at Atlantic City in New Jersey, says it doesn’t have the liquidity to make the payment.
In a separate action, Deutsche Bank AG filed suit against Donald Trump for failing to pay $334.2 million interest payments owed to it from it’s financing of Trump International Hotel & Tower.
Trump’s entrepreneurial modus operandi has left him heavily leveraged in property holdings. He has also carried on with new projects while the property market was imploding.
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December 29th, 2008 at 12:05 pm
[...] Trump empire in trouble. Where does that leave Balmedie Golf Course? [...]
April 20th, 2009 at 1:12 am
These are interesting articles. Thank you for taking the time to write them.
June 10th, 2009 at 11:02 pm
Hi there, I found your blog via Google while searching for sites about golf and your post looks very interesting for me.
June 10th, 2009 at 11:37 pm
We’ve done some good stuff on golf from time to time, Tara. Something you might be interested in is the Machrihanish Dunes Golf Course – one of our 2008 ForArgyll Award winners (for Best Sports Facility). It’s the only golf course to be built from the outset in a Site of Special Scientific Interest and it will be ecologically managed. It’s in the wonderful dunes system at Machrihanish beach (surfing’s good there too) on the west wide of the Mull of Kintyre. It’s beside the established Machrihansih Golf Club Course designed by Old Tom Morris and with a fantastic signature hole driving over the mouth of a river. Argyll’s an ace place for Golf. There are also some great and wacky 9 holers on the islands. Give us a shout if you want more inside information.