Publisher fires Donald Trump's magazine
This is the third iteration of Trump's publication. Publisher Niche Media sure sounded confident when the magazine re-re-relaunched in January 2008.
"Jerry Powers, Niche Media president and longtime Trump pal, said the luxury market is alive and kicking amid general ad market weakness," according to Media Week. The website quotes Powers saying things I am sure he wishes he could take back, such as, "The yacht market is beyond on fire worldwide," and, "People are paying $1,000, $2,000 a day to stay in a hotel room. It's still emerging as wealth becomes more accessible to more people."
Oh my, you can just about see the invisible hand of the Donald pulling the strings of his publisher. While Trump was hardly alone in underestimating the coming crash of the economy, there is something gratifying in seeing him get his comeuppance.
Back at the height of the popularity of Trump's TV show "The Apprentice," the businessman slapped his name on every product imaginable. Remember Trump Ice? What about Trump Super Premium Vodka and the line of jewelry sold by his daughter Ivanka? And don't forget about The Donald J. Trump Signature Collection "for the sophisticated uptown man."
Trump is no longer at the center of the cultural zeitgeist. Earlier this year, Trump's casino empire filed for Chapter 11 bankruptcy protection for the third time. Atlantic City is in a state of serious decline because of the start of casino gaming in neighboring states, especially Pennsylvania. No amount of Trump branding can reverse that trend.
But the final insult to The Donald is coming from a court in New Jersey. Trump is suing author Timothy O'Brien for questioning whether he is a billionaire. It's not looking good for the reality TV star.
"My net worth fluctuates, and it goes up and down with markets and with attitudes and with feelings, even my own feeling," he told lawyers, according toThe Wall Street Journal.
That and a nickel will get you a bottle of Trump water.