Carl Icahn Issues Statement in Response to Bernie Sanders Remarks and he is angry that Sanders did not even call to chat with Icahn. Interestingly, the TAJ Mahal saga now not only involves Carl Icahn and Bernie Sanders but also Donald Trump (because Icahn might also be a Trump Tres sec) and there is a connection with a different casino between Icahn and Trump via the debt.
Without further to do see the letter from Icahn below.
Bernie Sanders has received support from the UniteHere union and has made several remarks tying me to the difficulties facing Atlantic City — without even bothering to give me a call to hear my views and the real facts. So, here are the facts: Few would disagree that the Taj would have closed with thousands of job losses if I hadn’t come in and provided tens of millions in capital to save it and save those jobs. The same thing would have happened at the Tropicana if I hadn’t become involved, risking close to $100 million, to make it one of the few success stories in Atlantic City, and saving and creating thousands of jobs along the way. UniteHere, the Atlantic City union, has squeezed and squeezed the city’s most important employers and in the process has forced five casinos to close with thousands of jobs lost. Also, a little known fact: the UniteHere healthcare fund has made over $250 million in the past few years due to forcing companies into their exorbitant health plan, or else face labor disruption such as strikes. It is reprehensible that the union should make this type of money which benefits their top executives, while thousands and thousands of workers are losing their jobs. But, I do agree with Bernie Sanders on one thing: the income gap in this country is a major problem and I agree (with certain exceptions) that those that manage capital, as well as many CEOs, are ridiculously overpaid. If this problem is not addressed, there may well be disastrous consequences for the country.
Willow Oak Asset Management 2Q20 Commentary: Looking For Emerging Managers To Seed
Willow Oak Asset Management commentary for the second quarter ended July 30, 2020. Q2 2020 hedge fund letters, conferences and more Overview The second quarter was one of the most consequential time periods in American history. Risks that existed in the economic and political systems revealed themselves during the quarter due to the COVID pandemic. Read More