So let me get this straight. You went to exact same source, found castrated version of very same article "for dummies" thus proving me, pal rochard and NY Times wrong?
I'm no graduate of Trum's University but let take a look.
Here's quick summary
Trump NY Plaza | Trump Plaza Hotel
Long version for those who can read:
http://www.nytimes.com/2016/01/17/bu...house-bid.html
8. The Plaza lost $74 million the first year into Trump?s ownership.
9. In the meantime, Trump racked up some $900 million of debt by personally guaranteeing building loans.
10. Trump signed over nearly all of his properties, including the Plaza, his yacht and his jet, in exchange for more favorable terms on his personal guarantees.
ahahahahahahahahahahahahahaha
So he lost equity, control of plaza and more equity..
Great Success
Under terms of an agreement reached late in 1992, that consortium agreed to forgive overdue interest payments on some $300 million in loans in return for a 49 percent stake in the Plaza.
So he sold 49% of plaza for "interest payments" on 300 mil loans. INTEREST PAYMENTS !!!!!!
