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September 8, 2008 7:14:33 AM CDT

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Housing Slump Tarnishes Trump Name

Posted Nov 16, 07 10:03 PM CST in Business 

(Newser) – Proving no one is safe from the housing market downdraft, Donald Trump is experiencing some turbulence as tightening credit saps demand and leaves a few Trump Towers in the lurch. Two Florida projects with Trump's name have halted construction—even after one collected deposits from buyers—and a third may soon. A Toronto project suffered years of delays and a downsizing, and 30% of Trump Tower Chicago remains unsold.

Not that The Donald is at great financial risk, since he no longer puts a substantial amount of his own money into these projects. But he sells his name to developers, and too many floundering projects could devalue a brand that's already suffering from dilution—one of the Florida projects is said to have failed partly because of two other nearby projects using the name.

Source Wall Street Journal

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Donald Trump appears at a ground breaking ceremony for Trump International Hotel & Tower in downtown Toronto, Friday, Oct. 12, 2007. (AP Photo/The Canadian Press, Toronto Star-Michael Stuparyk)   (Associated Press)
A giant poster shows the proposed site where the Trump Tower is to be built in downtown New Orleans, in this May 22, 2007 file photo. The $400 million proposal by Donald Trump to construct the city's...   (Associated Press)
Donald Trump poses outside his Chicago offices and his 92-story residential tower on the Chicago River in this, April 10, 2006, file photo. (AP Photo/Charles Rex Arbogast)   (Associated Press)
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