so many bad loans in the city of new york, and they said, trump, what do you know about running a hotel? you know what he said? nothing. so they said, well, when you know how to run a hotel, or you get somebody that knows how to run a hotel, then we ll talk again. figuring that was the end, they got rid of him. instead of good riddance, trump got the hyatt hotel chain on board. promising them he could lock up a lucrative deal. says to hyatt, would you be that operator? what are they going to say, no? it s presented to them basically on a silver platter, right? yeah, except at that point, all he s got is swiss cheese. now, trump needed to convince the city to give him an unprecedented tax break, something it hadn t done for a private developer, ever. mike balkin was a lawyer for the city of new york. i sensed it from the beginning that this was a person who was highly ambitious, that had was very smart.
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that did have resources behind him even though a lot of that was really good real estate theater. really good real estate theater. like when the city asked for proof that trump was buying the hotel since he hadn t yet put down a deposit, he sent the paperwork over unsigned. it all worked with political help from his father, trump got the financing, the tax break and the partner he needed and just a few years after walking into ross office, trump completed an ambitious renovation of the hotel. the new grand hyatt helped spark new york s resurgence. it moved him to the front rank of developers in new york, clearly. almost overnight, he became a force in his own right. trump was on top of the world. donald s a star. he s a nova. like him or not like him.
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