Donald Trump‘s gambles don’t always go as planned. Especially when that gamble is gambling itself. In February 2009, Trump Entertainment Resorts Inc. filed for Chapter 11 bankruptcy protection for the third time in a row — an extremely rare feat in American business. The casino company, founded in the 1980s, runs the Taj Mahal, the Trump Plaza and the Trump Marina. All three casinos are located in Atlantic City, N.J., where the gambling industry has faced a decline in tourists who prefer gambling in Pennsylvania and Connecticut instead. Trump defended himself by distancing himself from the company, though he owned 28% of its stock. “Other than the fact that it has my name on it — which I’m not thrilled about — I have nothing to do with the company,” he said. He resigned from Trump Entertainment soon after that third filing, and in August of that year he, along with an affiliate of Beal Bank Nevada, agreed to buy the company for $100 million. The company reported it emerged from bankruptcy in July 2010.
Fire fighters evaluate the scene of an apartment building which had the front wall collapse due to Hurricane Sandy on October 29, 2012 in New York, United States. Hurricane Sandy, which threatens 50 million people in the eastern third of the U.S., is expected to bring days of rain, high winds and possibly heavy snow. New York Governor Andrew Cuomo announced the closure of all New York City will bus, subway and commuter rail service as of Sunday evening.
ATLANTIC CITY, N.J. — Superstorm Sandy slammed into the New Jersey coastline and hurled a record-breaking 13-foot surge of seawater at New York City on Monday, roaring ashore after washing away part of the Atlantic City boardwalk and putting the presidential campaign on hold.
Just before its centre reached land, the storm was stripped of hurricane status, but the distinction was purely technical, based on its shape and internal temperature. It still packed hurricane-force wind, and forecasters were careful to say it remained every bit as dangerous to the 50 million people in its path.
The National Hurricane Center announced at 8 p.m. that Sandy had come ashore near Atlantic City. The sea surged a record of nearly 13 feet at the foot of Manhattan.
Lower manhattan. Bye bye wall streetpic.twitter.com/bGGf2oxg
In an attempt to lessen damage from the storm, New York City’s main utility cut power to about 6,500 customers in lower Manhattan. Authorities worried that seawater would seep into the New York subway and cripple it, along with the electrical and communications systems that are vital to the nation’s financial centre.
As it closed in, Sandy knocked out electricity to more than 1.5 million people and figured to upend life for tens of millions more. It smacked the boarded-up big cities of the Northeast corridor, from Washington and Baltimore to Philadelphia, New York and Boston, with stinging rain and gusts of more than 85 mph (135 kph).
As it made its way toward land, it converged with a cold-weather system that turned into a fearsome superstorm, a monstrous hybrid consisting not only of rain and high wind but of snow. Forecasters warned of 20-foot (66-feet) waves bashing into the Chicago lakefront and up to 3 feet of snow in West Virginia.