Happier Times
Here are Fred and Donald Trump with Mayor Ed Koch of New York City back in July 1982. They looked very happy, although Trump would eventually find out that his attempts to go into the New Jersey casino business were not lucrative. As he bought Atlantic City properties, his financial performances showed him the error of his ways. It was why he had to sell his airline, Trump Shuttle. On top of that, he needed to restructure debt and sell off Trump Princess, his mega-yacht. In 1995, he was able to consolidate his casinos under Trump Hotels & Casino Resorts. It got bankruptcy restructuring from 2004 to 2009.
Happier Times
Football Fan
It turned out that his gamble on the casinos in Atlantic City was not his only failure in New Jersey. He hired Walt Michaels to be the Head Coach for the New Jersey Generals, his United States Football League. He bought the team in 1983 and hoped that they would help the league compete with the more famous National Football League. He made a huge mistake, however. Many teams were already losing money, and Trump wanted to move the schedule to fall/winter so that it can compete with the NFL. While the USFL won its antitrust suit against the NFL, it only got $1. This was a “victory in name only.” Many teams could not afford the costs of the operations, which led to the disbandment of the league.
Football Fan