Trump's gamble: A failed bet in Atlantic City
Photo: UNITE HERE Local 54.
Bartenders, housekeepers, servers, cooks, and other casino workers at the Click Taj Mahal have made history with the longest casino strike in Atlantic City since gambling became legal here more than 40 years ago.
While management and non-union employees have kept the Taj running, about 1,000 members of UNITE HERE Local 54 walked out July 1 after billionaire owner Carl Icahn refused to reverse deep health and pension benefit cuts enacted in 2014.
This see more be the fifth casino in Atlantic City to close in the past two years.
Taj employees have even died.
Support Strikers' Families UNITE HERE Local 54 has launched a to raise money to help strikers with rent, mortgages, utility payments, medical bills, and other essential expenses.
According to the union, 33 percent still have no insurance and just under 50 percent are covered through Obamacare, Medicare, or Medicaid.
The rent and cost of living is going up.
Not surprisingly, Icahn released a statement blaming Local 54.
In the fall, about 3,000 employees at Trump Taj Mahal are expected to join them.
From the start, Trump shifted his debts onto the casino—along with two others he owned, Trump Castle and Trump Plaza.
While Trump made exorbitant see more of money for himself, the Taj Mahal was already in bankruptcy court for the first time within only a year of opening.
This company soon faced crippling debt, lawsuits from shareholders, and bankruptcy in 2004.
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After yet another bankruptcy and reorganization click the following article 2009, Trump Entertainment Resorts its new name following the 2004 bankruptcy was taken over by Avenue Capital Group.
While Trump was no longer in charge, he still received stock in the reorganized company and compensation for the use of his name.
By 2014, Trump Entertainment Resorts was bankrupt again.
Health care and pension benefits were taken away.
Essentially, even though he repeatedly ignored regulators and bankrupted his casinos, Trump took home millions from Atlantic City.
During the Republican primary, Trump praised Icahn and put him at the top of his list for Treasury Secretary.
Icahn endorsed Trump and touted their longtime business relationship and friendship.
SOLIDARITY From the beginning, Taj Mahal workers have received community support.
In the fall of 2014, when Taj workers initially lost their pensions and health care, Local 54 called for a boycott of the casino.
In the month of July, revenue at Trump Taj Mahal was down 8.
On the other hand, other Atlantic City casinos performed well over the summer.
Throughout the strike, workers from nearby casinos have joined the Taj picket lines, and workers from trump casino atlantic city on strike unions have also shown their support.
Richard Spieler, a business agent with Trump casino atlantic city on strike Workers IBEW 827, has organized solidarity for the strike.
We've got to support each other.
They were joined by the Hotel Trades Council as they delivered letters to Icahn.
People support us when they hear what Icahn has done to us and our families.
In addition, they have launched a to raise money for strikers experiencing financial difficulties with rent, mortgages, utility payments, medical bills, and other essential expenses.
The casino has been subject to rumors of impending closures or massive layoffs for years.
Employees have received WARN Act notices, which provide advance notice of layoffs, for several false alarms.
Some have raised the possibility that if they stop and leave now, Icahn could remain open and try to hire a new, potentially non-union, workforce at lower trump casino atlantic city on strike />In closing Trump Taj Mahal, he would generate more business for his other casinos in the area.
Despite the closing announcement, workers have remained steadfast.
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