Sunday November 22,2014 : IS THE TAJ MAHAL DEAL REALLY OFF?
Confusing signals as principal creditor tries last-minute approach to the unions.
Reports last week that the closing of Atlantic City's Taj Mahal land casino on December 12 appeared inevitable have been sidetracked by fresh disclosures from Bloomberg business news that principal creditor Carl Icahn is still searching for a solution with the unions.
The New York Post also reported over the weekend that Icahn has offered to restore healthcare benefits for the Taj’s 1,100 union workers along with partial pension benefits and support for continued unionisation….if the union withdraws its appeal against an earlier court ruling allowing him to void its contract.
To sweeten the pot, the Post reported, New Jersey Gov. Chris Christie and State Senate President Stephen Sweeney are prepared to give the Taj Mahal $50 million in tax breaks, a remarkable switch from former official statements that the casino would have to meet its tax obligations.