The Chapter 11 filing marks the third plunge into bankruptcy for the company, which was created out of a restructuring in 2005. It also underscores the struggles facing the casino business as recession squeezes casino gambling.
Okay, so the recession is squeezing casino gambling. Which means that maybe casino gambling operations should adjust their business models to deal with this, right?
"This filing will result in no immediate change in our daily operations, and we expect to make no changes regarding our operating structure or philosophy," Trump Chief Executive Mark Juliano said in a statement.
Oh. You've filed for bankruptcy three times, you seem to think this latest bankruptcy problem is caused by the current recession (so what caused the other bankruptcies?), and you're still not changing anything about your operating structure or philosophy? Doesn't that seem a little wrong-headed?
This is just going to make it that much harder to take seriously any of the business advice I might glean from the next Celebrity Apprentice show.