The union cannot bully Carl Icahn. He is from Queens!
Or that is what he stated, anyway, in an open letter to the Native 54 union, which represents on line casino staff in Atlantic Metropolis, NJ, the place 4 casinos have closed and eight,000 staff misplaced their jobs, simply this 12 months.
“I grew up on the streets of Queens,” wrote Icahn, one of many best-known activist traders. “I realized to battle bullies and that was nice coaching as a result of I later constructed my fortune preventing the institution — largely CEOs and boards that I felt had been making the most of the shareholders.”
Icahn stated he was going to take a position $100 million within the Trump Taj Mahal, and put it aside from changing into the subsequent on line casino to exit of enterprise.
Nonetheless, he stated he would do it provided that the union agreed to surrender well being care advantages.
Thus far, the union has refused.
Icahn stated he would pay every employee an additional $2,000 and they’d be eligible for Obamacare or Medicaid.
(Although Icahn refers to it because the Trump Taj Mahal, the on line casino doesn’t carry Donald Trump’s name any more.)
Icahn stated the union is stalling the deal.
“The Taj Mahal is rapidly operating out of cash and can virtually definitely shut,” he wrote. “Reprehensibly, the union, as an alternative of working with … the corporate to maintain the Taj Mahal alive, is as an alternative doing all the things to destroy the potential of saving the roles of virtually three,000 workers.”
The Taj Mahal on line casino is managed by Trump Leisure Resorts, additionally isn’t owned by The Donald. The corporate additionally owned Trump Plaza On line casino, additionally in Atlantic Metropolis, which went out of enterprise.
Icahn stated the Taj Mahal was dropping $7 million a month.
“I acknowledged that my common rule is to not throw good cash after unhealthy,” Icahn stated. Nonetheless, if the corporate may get the concessions from the union, “I’d think about doing my half,” he wrote.
The union was not instantly accessible for remark.
CNNMoney (New York) First revealed October 24, 2014: 10:40 AM ET
Learn More about Best Forex Signals