[Pen-l] Trump marks himself to model

[raghu <mraghu01@xxxxxxxxx>]

http://www.npr.org/blogs/money/2009/05/trump_marks_self_to_market.html

------------------------------------snip
In the deposition, Mr. Trump said that his 2007 estimate of his net
worth -- over $4 billion -- is "a very conservative number, in my
opinion." He also said $6 billion is a good number, counting his brand
value. (In the interview Sunday, he said he was worth $5 billion, not
counting brand value.)

Mr. Trump was asked whether he has ever exaggerated in statements
about his properties. "I think everybody does," he said in the
deposition. "Who wouldn't?"

A follow-up question: Does that mean he inflates the value of his
properties in general, nonfinancial public statements? "Not beyond
reason," he said in the testimony.

The deposition reveals he told his bankers and New Jersey casino
authorities in 2004 and 2005 that he was worth approximately $3.6
billion. In 2005, Deutsche Bank evaluated his net worth as part of
underwriting a $640 million construction loan it made to Mr. Trump's
Chicago condo and hotel project. The bank said his worth was $788
million, according to information presented by the author's lawyers
present during Mr. Trump's deposition.

In his testimony, Mr. Trump discounted that and other low-ball
evaluations as "ridiculous." And he noted, "They [Deutsche Bank] still
come up with numbers that are many times" what the book's author, Mr.
O'Brien, reported. In his interview Sunday, he said Deutsche Bank
looked at some of his assets, not all of them, and didn't do
independent appraisals. A Deutsche Bank spokesman couldn't be reached.




-raghu.

--
Confucius say, if you want pretty nurse, you got to be patient.
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