The union cannot bully Carl Icahn. He is from Queens!
Or that is what he mentioned, anyway, in an open letter to the Native 54 union, which represents on line casino employees in Atlantic Metropolis, NJ, the place 4 casinos have closed and eight,000 employees misplaced their jobs, simply this yr.
“I grew up on the streets of Queens,” wrote Icahn, one of many best-known activist buyers. “I realized to combat 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 benefiting from the shareholders.”
Icahn mentioned he was going to speculate $100 million within the Trump Taj Mahal, and put it aside from changing into the following on line casino to exit of enterprise.
Nonetheless, he mentioned he would do it provided that the union agreed to surrender well being care advantages.
To this point, the union has refused.
Icahn mentioned 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.)
Related: The Donald tears his name from Trump Taj Mahal
Icahn mentioned the union is stalling the deal.
“The Taj Mahal is shortly operating out of cash and can nearly actually 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 every part to destroy the potential of saving the roles of just about 3,000 staff.”
The Taj Mahal on line casino is managed by Trump Leisure Resorts, additionally is just not owned by The Donald. The corporate additionally owned Trump Plaza On line casino, additionally in Atlantic Metropolis, which went out of enterprise.
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Icahn mentioned the Taj Mahal was shedding $7 million a month.
“I acknowledged that my normal rule is to not throw good cash after dangerous,” Icahn mentioned. Nonetheless, if the corporate may get the concessions from the union, “I’d contemplate doing my half,” he wrote.
The union was not instantly accessible for remark.
CNNMoney (New York) First printed October 24, 2014: 10:40 AM ET
