Uh, Why Do People Care About the 'Trump' Name So Much?
Uh-oh! Remember how we told you that Trump Fort Lauderdale was having some sorta-bigtime issues and may not have the Trump name on it after all? The condo-hotel development's "opening date" of late 2009 was a little bit ambitious, and developers had sent a letter out to condo buyers to notify them that the folks behind the project were in default of a licensing agreement that allowed use of Trump's name on the project — and then, when buyers heard that there was a pretty decent possibility that Trump's name was going to be yanked from the building altogether, they wanted nothing to do with the place and sued developers for misleading them into thinking Trump was definitely going to be in on the project. Whoops!
And then we told you that Trump Waikiki was having no such issue, and was moving along just fine. But: not so!
Pacific Business News reports today:
Buyers of 11 of the units at the Trump International Hotel & Tower in Waikiki filed a lawsuit Monday against the developer seeking to cancel their purchase contracts because use of Donald Trump’s name on the luxury condominium project is not guaranteed.
Sounds mighty familiar.
No word yet if this is going to have any effect on the hotel's opening (probably not, since the developer's camp released a statement that said they "intend to pursue all of our own claims against these individuals" and that "the vast majority of buyers are moving towards closing and are looking forward to their first visit to Trump Tower Waikiki Beach Walk later this year" — and if those condos sell, that hotel will probably open as expected in late '09).
But, um, question: why, why, why is the Trump name such a huge deal? We get the whole "mislead into thinking you were buying one thing and getting another," but the attorney representing the buyers made this statement:
These people were investing in a Rolls Royce. They were told it could magically turn into a Ford.
Let's not get hasty here. Rolls Royce? Let us remind you of some other things associated with the Trump name that do not bring to mind, uh, a Rolls Royce: Trump Taj Mahal. Omarosa. Miss America. Shall we continue? No? Good.
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