Forced to plan a package of bankruptcy protectionBackground
Trump was born on 14 June 1946 in Queens, New York as the son of Fred Trump, personnel development and marketing Real Estate in New York. He has three brothers, one male and 2 female. Older brother, he is the oldest women Maryanne Trump Barry, a federal judge.
He never attend school at The Kew-Forest School in Forest Hills, Queens, but after the turmoil going on in there at the time he was aged 13 years, Donald parents send them to New York Military Academy in the hope that Donald will be the people who respite. It was running smoothly. Donald awarded academic, play futbol in 1962, football in 1963, and baseball from the year 1962 - 1964 and a baseball team captain in 1964. Ted Tobias, a renowned baseball trainers give Coach's Award to Donald in 1964. Once promoted as a Captain-S4 Perwira senior at the time, Donald and a Perwira Sergeant Jeff Donaldson formed a group of officer-officer.
Trump was in school at Fordham University for 2 years before he moved to the Wharton School at the University of Pennsylvania. After graduation in 1968 with a Bachelor degree Economics, he joined the company in his father's real estate.
In the book, Trump: The Art of the Deal, Donald discusses the life of the university:
"After I graduated from the New York Military Academy in 1964, I never think to go to film school .. but finally I decided that real estate is a business that's much better. I started with the entrance to Fordham University .. but after 2 years at university I think that I'm bound to be a higher level. I was enrolled to the Wharton School at the University of Pennsylvania and received .. and very happy after they graduate. I go home and work with my father. "
Education
When aged 13 years old, her parents send to military school in the hope that New York energy tersalurkan directly and he can be a person who always insist that talk well.
At the time Trump became a student worker on campus honorer NYMA (New York Military Academy).
In the year 1962, Trump joined the football team, and in 1962 until he signed in 1964 to become a team captain and Baseball. Trump never received an award Coachs Award 1964 and was promoted to be Captain Taruna Military S4 (Cadet Battalion Logistics Officer).
Trump Fordhan lecture at the University for two years before moved to the Wharton School at the University of Pennsylvania. After the lecture of 1968 on the direction of economic concentration in finance, he joined the company in the sale of luxury homes owned by his father. When the status is still single.
Career and business
Trump started his career in his father's company, The Trump Organization is concentrating in the areas of middle-class home rental.
One of the first project is renovate Swifton Village apartment complex in Cincinnati, Ohio.
Trump change the 1200 unit apartment complex and raise rates 66% to 100%. When re-sell Swifton Village at U.S. $ 12 million, Trump Organization gain of U.S. $ 6 million.
In the 1970s, Trump benefit of the Government of New York City tax on the payment instead of the financial crisis faced by the Commodore Hotel.
Trump also is developing a successful property for Javits Convention Center. The development Javits Convention Center Trump make the government deal with the New York City. One of the projects worth U.S. $ 110 million was to make New York pay between U.S. $ 750 million to U.S. $ 1 billion. Trump offers to offset the project bid, but declined.
A similar situation occurred when New York tried to renovate Wollman Rink in Central Park. A project in 1980 with a target finish 2.5 years, but until 1986 and U.S. $ 12 million project has been issued has not been completed. Trump offers to handle the project and finish it within 6 months with the fund only $ 750,000. Interestingly, during the early 1980s, Trump took over the business services Roy Cohn, head of the Senate Permanent Committee on Investigations (Senate Permanent Subcommittee on Investigations).
Recession and the bankruptcy
In the year 1990, as the impact of the recession, Trump difficulty paying debt. He faced a problem on the loan payment on the third casino Taj Mahal which is equivalent to 1 billion dollars to the interest rate is very high.
Although it must maintain its business with additional delays in the payment of loans and interest on loans, in 1991 debt business experience make a big setback. Banks have lost hundreds of millions of dollars.
On 2 November 1992, Trump Plaza Hotel were forced to plan a package of protection after the bankruptcy can not afford to pay back the loan. In its plan, Trump is willing to give 49 percent share of the luxury hotel. Citibank and 5 to the other funds. But otherwise, the Trump receive a better position serves as the Chief Executive, although without charge.
In 1994, Trump lost 900 million dollars from the account of personal loss and dramatically in the business sector of 3.5 billion dollars. When he was forced to leave the Trump Shuttle, he was required to manage at Trump Tower in New York City and the 3 pieces in the Atlantic City casino.
Chase Manhattan Bank who have money to lend Trump to buy West Side yards, which is the biggest Manhattan parcel, forced to be sold to developers-developers in Asia.
According to the forming member Trump Organization, Trump did not return all ownership of Real Estate. The owner promised to provide 30 percent of the profits, when buildings are developed or sold finished. Until that time, the owners want what you have to do is build a Trump job. They then provide the model construction and management of funds to speed development.
