Poker player and billionaire investor Carl Icahn has blinked in his battle against unionized workers at the bankrupt Trump Taj Mahal, The NY Post has learned.
The casino’s biggest debtholder and would-be buyer has offered to restore health-care benefits for 1,100 workers if the union drops its appeal of a court decision that terminated its labor contract. In addition, Icahn has expressed a willingness to give union workers some pension benefits, sources said.
While the activist investor has insisted publicly he would let the Taj collapse rather than keep the current union pact, it looks like he is prepared to fold to salvage his investment.
READ FULL STORY http://nypost.com/2014/11/22/billionaire-icahn-blinks-in-battle-with-casino-union/
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