This is an extreme example of a full court redeemable US demand note in which a pawn broker attempt to negotiate a deal holds no real relevance within contract until face value to bearer fully satisfied.
Every time an annual budget no matter where originated can not be balanced a bond must be issued before payment AND YES EACH BOND CARRIES A CONDITION THAT EACH EXTENSION DEFICIT IS TO BE FULLY SATISFIED AND NEXT BUDGET BALANCED.
Simple English: Document is not an accounting tactic to be used as instrument benefiting profiteers nor kick the can politico party agendas at expense of voters and the general tax payers well being.
The casino, originally known as the Trump Taj Mahal, was inaugurated by its then-owner Donald Trump in 1990, and was built at a total cost of nearly one billion dollars. Restaurants at the Taj included Hard Rock Cafe, Dynasty, Il Mulino New York, Moon at Dynasty, and Robert's Steakhouse. It was also the home of Scores, the country's first in-casino strip club.
The Taj Mahal came to the brink of closure in 2014 as its parent company went through bankruptcy, but ultimately remained open under the new ownership of Icahn Enterprises. On August 3, 2016, it was announced that the Trump Taj Mahal would close after Labor Day, because of casino workers on strike.[4] It was closed on October 10, 2016.
On March 1, 2017, the Seminole Tribe of Florida through its Hard Rock International brand, and the Morris and Jingoli families, announced its purchase of the facility and conversion to the Hard Rock Hotel and Casino brand.
Construction of what was originally known as the Taj Mahal commenced in 1983 by Resorts International, owner of the neighboring Resorts Casino Hotel, with an estimated budget of $250 million.[5][6] Resorts head James Crosby said it might be named the United States Hotel, in reference to the city's first major hotel.[7]
After Crosby's death in April 1986, Resorts International became a takeover target.[8] The Taj Mahal had encountered construction problems, and Crosby's heirs, lacking experience in large development projects, doubted their ability to complete it successfully.[9]Donald Trump, who owned two other Atlantic City casinos, beat out several other bidders to purchase a controlling stake in the company for $79 million in July 1987.[10]Trump was appointed chairman of Resorts International, and said he would complete the Taj Mahal in about a year.[10]
Because New Jersey law prohibited anyone from owning more than three casinos, Trump planned to close the original Resorts casino and operate it as a hotel annex to the Taj Mahal.[11][12]
As the total budget had ballooned to $930 million, Resorts sought to raise $550 million to complete the Taj Mahal, but struggled to find the financing.[13] With the company claiming to be near bankruptcy in early 1988, Trump made a tender offer to buy all outstanding stock for $22 a share, stating that he was willing to personally finance the construction, but only if he owned the entire company.[14] Television producer Merv Griffin made an unexpected offer to purchase the company for $35 a share,[15] sparking a highly publicized takeover battle,[16] with Trump and Griffin filing lawsuits against each other.[17] The two ultimately reached a settlement, which was executed in November 1988, with Griffin purchasing the company, and Trump purchasing the Taj Mahal from the company for $273 million.[18]
Trump raised $675 million to finance the purchase and completion of the casino, primarily through junk bondswith a 14 percent interest rate.[19][20]
The casino opened on April 2, 1990.[21] With 120,000 square feet (11,000 m2) of gaming space, it claimed to be the largest casino in the world (though this was disputed by the Riviera),[22] and billed itself as the "eighth wonder of the world."[23] An elaborate grand opening ceremony was held three days later.[24]
In 1991, the Taj Mahal went through a prepackaged bankruptcy, resulting in Trump giving a 50 percent stake in the business to its bondholders in exchange for lowered interest rates and a longer payoff schedule.[25][26]
Trump's new publicly traded company, Trump Hotels & Casino Resorts, purchased the Taj Mahal in 1996, in a transaction that valued the property at $890 million.[27][28] In the 1990s, Trump's Taj Mahal casino was "the world's largest, most flamboyant casino" and Trump took on an "enormous amount of debt" to launch it.[29] During eighteen months after its April 2, 1990 opening,[21] when the Casino was on the verge of bankruptcy, it became the "preferred gambling spot for Russian mobsters living in Brooklyn, according to federal investigators who tracked organized crime in New York City."[29]
The Taj Mahal was the highest grossing casino in the city until the opening of The Borgata in 2003. The Chairman Tower opened in 2008, bringing the complex to over 2,000 rooms.
In 2013, the Taj Mahal opened the nation's first casino strip club, featuring scantily clad dancers.[30][31]
On Monday, October 10, 2016, the Trump Taj Mahal Hotel and Casino was shut down. The Hard Rock Cafe remains open.[32]
On March 1, 2017, Hard Rock International announced its purchase of the Trump Taj Mahal property, which will become the Hard Rock Hotel and Casino Atlantic City,[3] in summer 2018.[1]
Bankruptcy
Trump Entertainment Resorts filed for bankruptcy on September 10, 2014,[33] and announced plans to close the Taj Mahal on November 13 if the casino did not get concessions from its unions.[34] A sister property, the Trump Plaza, did close in 2014.[35]
Workers from the casino marched to Mayor Don Guardian's office on the morning of November 3, 2014 to ask him to reconsider granting concessions, which the casino said were necessary to remain open. About 1,000 employees signed a petition calling on the mayor and other officials "to do everything possible" to keep the casino open. At the time, four of twelve casinos in Atlantic City had closed and Trump Taj Mahal would have been the fifth if it were to close.[36]
In filing a revised reorganization plan in Delaware bankruptcy court, Trump Entertainment Resorts said its board had approved a shutdown of the casino by December 12, 2014. The shutdown date was later pushed back to December 20. On December 18, two days before the scheduled closure, UNITE HERE reached a deal with Trump Entertainment Resorts that saved the Taj from closing. The same day, billionaire Carl Icahn committed $20 million in financing for the Taj.[37]
In February 2016, Trump Entertainment Resorts exited bankruptcy and became a subsidiary of Icahn Enterprises. The casino retained the name "Trump Taj Mahal", though Donald Trump no longer held any ownership stake.[38] In April, another Icahn affiliate, Tropicana Entertainment, took over the property under a management agreement.[39][40] Icahn also stated he would withhold a planned $100-million investment into the property if New Jersey approved casinos in the northern region of the state.[41]
On Monday, October 10, 2016, the Trump Taj Mahal Hotel and Casino was shut down.[42] After the closing on that date, one UNITE HERE leader raised the possibility that the casino would remain closed over the winter but will reopen in Spring 2017 as a non-union facility, an attempt that he said would try to prompt a union boycott.[43] On March 1, 2017, Hard Rock International announced plans to spend $300 million to purchase the resort and renovate it for a summer 2018 re-opening as the Hard Rock Hotel & Casino Atlantic City.[44][1] In the meantime, the Hard Rock Cafe within the building, which is located at the boardwalk, remains open, despite the closure of the rest of the building. The company that owns the restaurant has since announced its acquisition of the entire complex.
Labor disputes
On November 14, 2014, Trump Entertainment Resorts announced that the casino would shut down in December unless its main union, UNITE HERE, dropped its appeal of a court-ordered cost-savings package, which had effectively cancelled the workers' health insurance and pension coverage.[45]However, it was revealed that the closing was to happen because it has not received the state and local tax breaks it sought.[46]
Money laundering
Over its years of operation—1990–2016—the Trump Taj Mahal was "repeatedly cited for having inadequate money-laundering controls, not an unusual charge in the gaming business."[47]
In February 2015, the U.S. Department of the Treasury'sFinancial Crimes Enforcement Network settled an investigation of Trump Taj Mahal with the assessment of a $10 million civil fine for "significant and long-standing money laundering violations" which were described as "willful and repeated" contraventions of the record-keeping and reporting requirements of the Bank Secrecy Act.[48][49] The casino agreed to periodic external audits to comply with anti-money laundering statutes,[49] and admitted to multiple violations as part of its settlement.[50] The U.S. Treasury made note of casino violations dating back to 1998, when Trump Taj Mahal paid a $477,700 fine for violating currency transaction requirements,[29] as well as violations in 2003, 2010, and in 2012, for which the company was "repeatedly warned". Trump Taj Mahal was "far from meeting" standards required to protect the U.S. financial system "from exploitation from criminals, terrorists, and other bad actors", the Treasury said in a press release.[49]
In 2017, CNN obtained access to Treasury Department documents under the Freedom of Information Act (FOIA) which included the 1998 and the 2015 settlement.
Links to organized crime
The 1992 U.S. Senate Subcommittee 218-page report entitled "Asian Organized Crime: the New International Criminal", linked Trump's businesses to Asian organized crime.[51]
Specifically the Senate subcommittee named Danny Sau Keung Leung, who had been Trump Taj Mahal's VP Foreign Marketing since 2000, as an associate of the Hong Kong-based organized crime group 14K Triad"[52] linked to "murders, extortions and heroin smuggling".[53] Leung worked at Trump Taj Mahal from 1990 to 1995.[53] He was "known by law enforcement to be linked to organized crime syndicates"[54] and was investigated by the New Jersey Casino Control Commission in 1995 with hearings in Atlantic City regarding his "background and character."[53] "Mentions of Trump businesses" were "sprinkled throughout the 1992 Senate report on "Asian organized crime in the United States."[54] "Crime bosses who ran the Chinatown bus system put together trips to Trump businesses in Atlantic City.[54] "[O]ther people with links to organized crime booked shows at Trump venues and in 1987, one was indicted on a charge of providing kickbacks to executives at Trump Castle."[54] According to an Internal Revenue Service report cited in a 2016 Politifact article by Linda Qui,[52] Trump also worked closely with other members and associates of organized criminal enterprises, including Danny Leung, Felix Sater, Salvatore Testa, and Kenneth Shapiro".[52][55]:5 In 1984, Canadian police had identified Leung as "a major player in Toronto organized crime", yet in 1989, the New Jersey Casino Control Commission granted him the casino "key license reserved for executives"[53] and he began working for Trump Taj Mahal in 1990.[53] At the New Jersey Casino Control Commission hearing in 1994, Trump sent Taj President Dennis Gomes to "testify on Leung's behalf at the hearing New Jersey Casino Control Commission. In spite of an objection of the Division of Gaming Enforcement and the testimony of Canadian police, his casino key license was renewed. "Leung's lawyer, Guy Michael said, that the criminal allegations were "absolutely untrue. In August 2013, Leung requested to be placed on the Casino Key Employee Inactive List in August 2013 "in lieu of complying with the resubmission process".[56]:20
Shooting incidents
On May 27, 2009, Ray Kot, a casino shift manager, was shot and killed by 57-year-old Mark Magee of Norristown, Pennsylvania. Magee claimed that he killed Kot because casino executives at the Trump Taj Mahal had conspired to cheat players by manipulating the outcome of the table games.[57][58] On August 11, 2010, Magee was convicted of murder and was given a minimum 30-year sentence at the New Jersey State Prison in Trenton.[59] He is tentatively scheduled to be released on May 28, 2039, at the age of 87. On October 16, 2010, a small park on the Trump Taj Mahal property was created and dedicated to the memory of Kot.
On September 18, 2011, a man was shot dead and a woman was wounded during an apparent carjacking inside the parking garage of the casino. The man, 28-year-old Sunil Rattu, and the woman, 24-year-old Radha Ghetia, were held up as they left the casino, and then forced to drive to a nearby alley where Rattu was shot dead, while Ghetia was shot in the upper part of her body. Ghetia was treated for her injuries and later recovered.[60]
On March 24, 2016, three teenagers attending a party in a hotel room on the forty-seventh floor were shot. Seven suspects were arrested in connection with the incident.[61]
To Think and act with Integrity requires that we fully experience the tensions of competing thoughts and demands.
It requires that we ask the crucial question: Has anything been left out? It requires us to look beyond our usually 'Simplistic' Illusions and Assumptions to try to discover What is Missing.
It has been said that what is Not Said is more important what he or she does say.
This is an excellent guide to get to what is missing. For instance, during the course of a few tax reform sessions, healthy people talk of their present, past, and future in a well-integrated fashion.
Should a person speak only in the present and future, never mentioning the past, one can be sure that there is at least one unintegrated, unresolved, and important issue that must be brought out into the light for full healing. Simple English: where people never make mention of their future, one might properly be led to suspect that as a body we have a problem with fantasy and hope.
If as body we were to think with integrity, and are willing to bear the pain involved, we will inevitably encounter paradox.
The Greek word 'Para' means "by the side of, alongside, past, beyond. Doxa means opinion.
Thus, a paradox is "a statement" contrary to the common belief, or one that seems contradictory, unbelievable, or absurd but actually may be true in fact."
If a concept is paradoxical, that in itself should suggest that it Smacks of Integrity and has a Ring of Truth.
Conversely, if a concept is not in the least paradoxical, body may suspect that it has failed to integrate some aspect of the whole.
Reality states we do not exist either by or for ourselves. If as body we were to think with integrity at all, as one we would have to recognize immediately that lives are nurtured not only by the earth,the rain and the sun but also by farmers, publishers, book sellers, as well as by our children, wives, friends and teachers as entire fabric is what makes Society healthy over guise'd tax break platforms.
Life is difficult because the process of confronting and solving problems is a painful one. To say that life is difficult without qualifying the statement would be to subscribe to the idea that "Life is difficult then we die."
It is a Simplistic and Nihilistic notion.
It discounts all beauty, goodness, opportunities, for Spiritual Growth, serenity, and other wonderful aspects of living.
Indeed, one of the mysterious and paradoxical realities is that in addition to the pain that life brings, living can be accomplished by an unfathomed joy once we get past the pain.
To understand paradox ultimately means being able to grasp two contradictory concepts in one's mind without going crazy.
When something is taken for granted as Truth - and only the Truth - comes into question.
It is certainly a Skill of Mental Acrobatics to be able to juggle opposing ideas in one's mind without automatically negating or rejecting the reality of either idea.
But even when the strongest impulse is to want to Deny Something that one Finds Hard to Digest - such as the fact that Evil coexists with Good in the World - the ability to understand paradox is necessary in the process of sorting through Illusions, Half-Truths, and Outright Lies.
Almost all of us have the capacity to think paradoxically.
The extent to which we Neglect or Use this capacity varies greatly.
It is not so much determined by our IQs as by the depth we put into thinking.
To become Keen is paradoxical reasoning. The body must, as the saying goes: Use It or Loose It.
The more we use our capacity for thinking paradoxically, the more likely we will expand this ability.
It is Unquestionable that certain changes are needed to encourage better thinking.
But at the same time, Each Individual is responsible for his or her own thinking on how to meet this challenge.
Ultimately, if we teach people to thing well, we could heal most of the Ills of Individuals and most of the Ills of Society.
In the End, however, the Benefit of Thinking Well are Worth the Effort - and Far Better than the Alternative.
This is ultimately a Hopeful Business in which long ago was once said: "Once a Mind is Truly Stretched, it Never Returns to its Former Dimension.
In America, the damage caused by Political party institutionalization is perhaps more subtle but no less devastating to the social fabric.
Economic conflicts are self interest fought under banners of some party ideology or deeply held belief.
But given the division and the destructive results, are these political party ideologies and beliefs rational, or mere rationalizations for otherwise unreasonable acts?
How often, in fact, does John Q. Public while funding these adversaries do they stop to think about what we believe as majority dictates those agendas?
The major dilemma has a simple English and it is called simplistic thinking - or failure to think responsibly at all.
It isn't just the problem, it is the problem.
Thinking is a process, with a course of direction, a lapse of time, and a series of steps or stages that lead to some result.
Not everyone seeks to achieve the same result under or in God.
In reality, usually neither is done well because politics is either too self-satisfied to 'Examen" their assumptions about thinking or "Too Self-Absorbed to invest the time and energy to do so.
In the Divine Conspiracy Dallas Willard Writes, 'Asking is indeed the great law of the spiritual world through which things are accomplished in cooperation with God and yet in harmony with the freedom and worth of every individual.
Requests anticipate responses.
Willard suggests that even the dog begging at your feet puts you "up against a fundamental force of the universe." Requests have Power to move us.
Some of us have a propensity to say yes because we like to please.
Others immediately say No because we we don't like feeling obligated.
God ask us to ask him for what we need, regardless of our own intuitive responses to requests.
He wants us to know that he's invested in us and concerned about our lives and requests.
The Almighty One wants our prayers. In fact, God will change this world through them.
But it is important to realize that we don't always know what we or others need most.
So 'Listening' in our spirit to God's desire for us and this world is an important part of in - so listening in our spirit to God's desire for us and and this world is an important part of intercession.
God's spirit is always concerned with his Glory and his Kingdom.
And his Spirit can lead us to pray in a different manner the we would pray on our own.
Intercession is one of the ways God invites us into the Heart of the Trinity.
As we keep company though Jesus though intercession, we begin to see the world and the people in it from his perspective and Heart.
Increasingly we long for the same things he longs for.
The Holy Spirit guides are intercessions so they sound more and more like Jesus's own intercessions for this world. "Your Kingdom come; your will be done."
When we intercede, it is important to 'Humbly' trust that the King of all creation can bring in the Kingdom no matter what circumstances look like.
Intercession is not always an easy thing to do.
It can engage us deeply in spiritual battle.
Prayer Warriors know that the point of intercessory prayer is to remain faithful and trusting.
Being involved in intercessory prayer does not necessarily mean you'll feel great strength, power or joy.
The Point is to Pray, Persist and Commit the Battle to The Lord.
At times our trust wavers and we don't know how to pray, can't find words to pray and are too distressed to pray. AT THOSE MOMENTS WE HAVE THE ASSURANCE THAT GOD PREYS.
The Holy Spirit, who inhabits our being, "Personally" tutors us in praying and even Interprets for us when we are unable to articulate our hearts to God.
The spirit Intercedes with "Groans that words cannot Express" (Romans 8:26)
Furthermore, Jesus is seated at the right hand of the Father, interceding for us as well. (Romans 8:34)
WE have all heard about Political parties and their memberships so Self-Centered that they wonder how the World would manage to service without them.
For community, narcissism may not run that deep. But for each of us the most difficult - and important - things to learn and come to terms with is that the world does not simply revolve around any one of us!
Narcissism is a thinking disorder and the narcasstic generally cannot or will not think about other people.
Heathy people grow out of narcissism, a growth that can only be accomplished when on becomes more 'CONSCIOUS' that considers others, and thinks more about them.
A narcistic regime could care less for their classmates.
They do not concern themselves about their constients's joys nor sorrows as a result might have been or what could have been done or said to make life abroad the political specturm easier.
Only the grace of God holds enough power to assemble faithful warriors to do battle for a future against "Narcissim's" out of control tyranny regime only out to secure what decay's while simutaniously benifited only elitist selves.
