TRUMP

THE ART OF THE COMEBACK

It is interesting to note that Donald Trump cited this in his book:

"My relationship with 40 Wall Street began as a young man.  The moment I laid eyes on it, I was mesmerized by its beauty and its splendor.  But I didn’t become serious about the building until the early nineties, and at that time it was struggling."

"In the 1960s and 1970s, 40 Wall Street was always a fully occupied building.  Sprawling law firms and big banks were its primary tenants.  It was a hot property."

"In the early 1980s, however, it was bought by Ferdinand Marcos, who, as you probably remember, lost control of the Philippines in a brutal and bloody war.  Incidentally, Marcos also bought 730 Fifth Avenue, known as the Crown Building, on Fifty-seventh Street, just across from Trump Tower.  (You could never say Ferdinand and Imelda Marcos didn’t have good taste in real estate.)  Unfortunately, during Marcos’ reign over 40 Wall, the building suffered greatly.  Frankly, who could blame him?  What was he going to focus on, a revolution or his skyscraper?"

"Dealings at 40 Wall became chaotic.  The problem was that when it came time to renew or extend their lease, it was virtually impossible – due to lack of management and the nagging legal question as to who, in fact, owned the building.  Marcos claimed he owned it.  But the people of the Philippines claimed Marcos had bought the building with money stolen form them, and therefore, it was owned by the Philippines."