Just saw on a local TV station (Channel 3, NBC) that Trump Towers is planning to lay off 73 people which equates to about 20% of their workforce. According to the report, this is due largely because the close rate for their condos dropped significantly as a result of the ongoing mortgage crisis. According to the report, \”only a small fraction of the condos have been sold.\”
Interestingly, Neil from the UK and I stopped by Trump Towers about a month ago to take a quick peek. It was weird–I expected it to be super fancy-shmancy, and I guess it was–lot’s of gold stuff everywhere–but it didn’t look very significant. Gold? Check. Classy? Uh…not so much. Neil and I both thought that if you were to compare the look of Trump Towers to that of Wynn Las Vegas, there was no comparison. Wynn looks much more substantial, more thick. (To be honest, I thought Red Rock Casino looked nicer.) Granted, we just checked out the lobby and the pool (from a distance. . .peering through the workout area), but we kept scratching our heads, wondering what the money was buying folks who chose to invest in a Trump Tower condo.