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 traders. “I discovered to battle bullies and that was nice coaching as a result of I later constructed my fortune combating the institution — largely CEOs and boards that I felt have been benefiting from the shareholders.”
Icahn mentioned he was going to take a position $100 million within the Trump Taj Mahal, and put it aside from turning into the subsequent 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 does not carry Donald Trump’s title any extra.)
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Icahn mentioned the union is stalling the deal.
“The Taj Mahal is rapidly operating out of cash and can nearly 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 pieces to destroy the potential of saving the roles of just about 3,000 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.
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Icahn mentioned the Taj Mahal was dropping $7 million a month.
“I acknowledged that my basic rule is to not throw good cash after dangerous,” Icahn mentioned. Nonetheless, if the corporate might get the concessions from the union, “I’d take into account doing my half,” he wrote.
The union was not instantly obtainable for remark.
CNNMoney (New York) First revealed October 24, 2014: 10:40 AM ET
