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[Assistant] So what I did was to call all my friends and ask if anyone had a private jet we could borrow. Sure enough, someone had a jet at LaGuardia that wasn't being used, so we all piled out of my jet and into another jet and finally took off for Dayton. I figured it would all go well from then on.


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[Assistant] It was such a mess that they arranged a full police escort for me and my entourage to get from the airport to the arena where I'd be speaking. It still took a long time.


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[Assistant] This was beginning to seem like a trip to China, not Ohio.


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[Assistant] To top it off, it was also Melania's birthday, and I had planned to get back to New York City in time to take her out for dinner and to celebrate.


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[Assistant] They had been waiting patiently for several hours at this point.


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[Assistant] When I finally arrived, I told the patient folks in Dayton that they'd had their own reality show that day. They were impressed that I had finally made it there despite several major deterrents. And we all had a great time despite the delays, the rain, and the malfunctions.


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[Assistant] In fact, they sang Happy Birthday to Melania when they were waiting for me to show up.


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[Assistant] When I finally arrived, someone gave the heads up that Mr. Trump has entered the building. Shades of the days of Elvis. I had a good laugh, and we all had a day to be remembered.


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[Assistant] Another time, I was scheduled to speak in Las Vegas in front of approximately 10,000 people, and I flew in from California with about half an hour to spare before going on.


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[Assistant] Since I had been traveling, I asked a young woman who was backstage coordinator to have my jacket pressed.


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[Assistant] So she took my jacket and I waited in the green room chatting with visitors and with Keith, my bodyguard.


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[Assistant] When it was time to go on, I started looking for my jacket. It was nowhere to be found. I had 10,000 people waiting for me and no jacket.


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[Assistant] The young woman appeared and told us she'd sent my jacket out to a nearby hotel to get pressed, and it wasn't back yet.


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[Assistant] We were astonished. With a half hour to go before stage time, no one sends out a jacket to be pressed.


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[Assistant] We thought she'd have it steamed or pressed on the premises, but she was obviously new at this job.


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[Assistant] I wasn't happy about it, but what could I do? I borrowed Keith's jacket even though Keith is a bit larger than I am. It had to suffice.


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[Assistant] I was a few minutes late getting to the stage, but the crowd didn't seem to mind too much.


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[Assistant] I told them about what had happened backstage and apologized for a jacket that neither fit nor matched my suit. They didn't seem to mind that either.


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[Assistant] The speech went well despite the backstage commotion and they seemed to enjoy the spontaneity that was created by someone's mistake.


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[Assistant] I still wasn't happy about it, especially since I spend a lot of time preparing to make sure my presentations are seamless. But I figured, what's over is over, and let it go.


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[Assistant] The next day, on the front page of the major Las Vegas newspaper was a photo and story about me. I shared the front page with a story on Jay Leno.


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[Assistant] Due to the wardrobe malfunction that occurred the night before, they decided to give me more coverage because it ended up being a funny story to them. The billionaire loses his jacket.


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[Assistant] Instead of trying to deflect problems or obstacles and send them off in another direction, try to embrace them. Turn them into something positive.


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[Assistant] You can often disarm people this way and get them on your side. Don't get too attached to your ideas. Adjust, adapt, and take things in stride.


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[Assistant] Thinking your foolproof is a good way to set yourself up for a big mistake. How new Trump projects happen.


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[Assistant] The Trump Organization currently has 33 real estate projects in development worldwide.


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[Assistant] That's a lot of buildings. And managing these projects requires a lot of travel.


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[Assistant] I'm very grateful that my three eldest children, Don Jr., Ivanka, and Eric are on board now to help me out and take trips to places like India, China, Dubai, and Istanbul.


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[Assistant] My schedule is ballistic enough without those long trips added to it.


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[Assistant] Many of these projects are the very desirable Trump International hotel and tower combos that incorporate both condominium and hotel accommodations. People often wonder how these buildings get built.


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[Assistant] And it's a good question, since we are the only hotel company that also serves as the developer. If the Trump name is going on a building, there is a huge amount of preliminary due diligence and ongoing management work to be done.


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[Assistant] The only way to ensure quality is to stay on top of all the issues.


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[Assistant] This process is a complex jigsaw puzzle.


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[Assistant] And there are a lot of factors to consider because we don't allow the Trump name to be associated with anything that hasn't been carefully considered and scrutinized. We receive proposals constantly.


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[Assistant] All of which are evaluated, but we will not be interested in 99% of them.


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[Assistant] We are also approached by over 300 developers per year who want to partner with us. So we have to take an aggressive approach to evaluating deals.


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[Assistant] We vet each proposal, analyze the deal, and check out the sites personally.


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[Assistant] When something is a go, we review budgets, do pre-development planning, and then start the bid process.


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[Assistant] We deal with contractors, subcontractors and we negotiate the final price.


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[Assistant] Every construction document has to be reviewed by our team.


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[Assistant] Next, we start weekly construction meetings and sales and marketing meetings.


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[Assistant] We speak to representatives on our job sites every single day. Nothing is left to chance. That's one reason for our success.


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[Assistant] Because we have many international developments now, one thing we deal with is securing financing in foreign countries.


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[Assistant] This can sometimes be complicated if the country has a track record of political instability.


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[Assistant] If we get in at the right point in a real estate growth cycle,


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[Assistant] It may still be relatively inexpensive to build there, but with good growth potential. So we will take advantage of the opportunity.


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[Assistant] It would be easy to get complacent, because we've had a lot of successes.


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[Assistant] But we know there is always risk around the corner.


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[Assistant] We avoid being complacent by being diligent in our preparations.


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[Assistant] Thinking you're foolproof is a good way to set yourself up for a big mistake.


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[Assistant] We very often become interested in a site because I've been there and I see the potential.


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[Assistant] That happened when I visited Panama City for a Miss Universe pageant in 2003.


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[Assistant] I remember saying, this is a beautiful city, a fantastic place, and I'd like to build something here one day.


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[Assistant] Well, someday has happened, and the Trump Ocean Club is underway. A 2.4 million square foot, 65 story hotel and condominium tower.


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[Assistant] It's the first time the Trump organization has invested in Central America, and it's a terrific choice.


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[Assistant] As fate would have it, the unveiling of the plans for the Trump Ocean Club in April of 2006 occurred the same day that Panamanian President Martin Torijo asked voters to approve a multibillion dollar project to expand the Panama Canal.


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[Assistant] This would be the canal's biggest modification since 1914, the year it opened, and would enable large, modern cargo ships to navigate the canal.


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[Assistant] The growth potential was obviously there, and this was a good indication that the city was on the verge of a great surge of interest and activity.


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[Assistant] The design of the Trump Ocean Club Tower is remarkable as well. It appears as a very tall sail, and the units will have flow through panoramic views truly spectacular.


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[Assistant] I've got my own instincts and preferences, but we also review what comes in for us from other people.


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[Assistant] We cover our bases and are always ready for an opportunity.


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[Assistant] We are developing a property in Istanbul after my good friend, the late Ahmet Erdogan, the founder of Atlantic Records suggested the idea. Ivanka will be visiting Turkey to look for a site.


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[Assistant] Once a site is approved, we will appoint a project manager to oversee the project.


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[Assistant] For example, in Las Vegas, we have Brian Baudreau to supervise the Trump International Hotel and Towers development. I can call him at any time to see what's happening, and I'll be comprehensively informed from one call. There's an efficiency to our operation that allows us to move forward quickly and confidently.


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[Assistant] No project will be free from the problems that can and will surface at any time.


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[Assistant] However, we do our homework and know we've done our best to ensure a high success rate and a world-famous standard of quality. That's the Trump way. And Don Jr., Ivanka, Eric, and I are working together to make sure it remains that way.


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[Assistant] Remember that your success and all good things that come your way are a direct result of your effort. You have a place to live because you've earned it, and you have possessions because you've earned them.


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[Assistant] Growing cocky or self-assured can lead you directly into a downfall. I know. Because it's happened to me.


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[Assistant] This city will serve up problems and solutions you won't find anywhere else.


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[Assistant] Traffic can be unbearable in New York City at times.


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[Assistant] Once I was with the apprentice crew in my limousine, and we got stuck in a traffic jam. We were at a standstill.


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[Assistant] Everyone started doing their elbow to the horn routine. The horns just kept honking without interruption.


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[Assistant] Suddenly the horns stopped. There was dead silence because people recognized me standing in the middle of the traffic mess.


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[Assistant] Mostly I was relieved they'd stopped honking their horns for a couple of minutes at least.


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[Assistant] There are times when it's great to be recognizable, and this was one of those times.


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[Assistant] Of course, there are plenty of times when it creates problems I could live without. I have a great security team. But now and then, things can happen.


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[Assistant] I was scheduled to appear at a party on a ship on the Hudson River that was going to do an evening dinner cruise around Manhattan.


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[Assistant] It would take up about 15 minutes of my time, and I would leave before the boat left the dock.


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[Assistant] It was a great cocktail party and I was talking to a few people when suddenly I noticed the boat wasn't at the dock anymore. We were going down the river.


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[Assistant] No one told me we were leaving the dock, including my bodyguard. He hadn't noticed the boat leaving either.


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[Assistant] Here I was, stuck on a cruise around Manhattan for three hours on a Saturday night. Not exactly what I had planned. I didn't know who to get angry at first. The captain, my host, my bodyguard,


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[Assistant] Anyway, since there was nothing I could do about it, I decided to go with the flow.


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[Assistant] It was actually a great group of people, and they seemed happy to have me aboard, whether I'd been invited or not. So I joined them, told some stories, had some laughs, and it was great.


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[Assistant] My advice to you is, go with the flow. Especially if you don't have a choice. This time I actually enjoyed some of the smooth sailing that was totally unexpected and not on my agenda.


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[Assistant] I was thinking, life is like that sometimes. It helped a lot when I just lightened up a bit and managed to have a good time. Try it yourself sometime.


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[Assistant] You'll find it will work for you whether your name is Donald Trump or not.


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[Assistant] Everyone has his or her own way of letting off steam, letting go of tension, and changing thinking patterns.


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[Assistant] Whatever works for you is the best choice, as long as it's not self-destructive or destructive to others. That's why I like to golf. Golf is a brain game, but it can be totally relaxing at the same time.


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[Assistant] I find it opens my mind to new possibilities.


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[Assistant] And I can problem solve very effectively while I'm on the golf course.


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[Assistant] What I do in the office at times is to practice my swing or I'll just pick up a golf club and think about the game. That action alone is a breath of fresh air, even if it's office air and helps me see things creatively or in a new light.


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[Assistant] I know that some people find music or exercise does that for them, but for me, it's golf.


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[Assistant] Another way to de-stress is to replace negatives with positives. This applies in many areas. For example, I try to surround myself with positive people and get rid of the negative types. Anyone who visits my office will notice that I have many photographs of my family, my parents, my children, and Melania. That's a great positive focus to keep.


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[Assistant] Not that I need reminders, but a glance now and then can keep things in perspective.


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[Assistant] I also have photos and mementos of achievements that have meant a lot to me over the years. So if the going is rough, I have tangible reminders of past successes. None of them were easy either.


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[Assistant] Keep your momentum going. Try to replace negatives with positives, and you'll have more successes waiting for you, even if right now, they're nowhere in sight.


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[Assistant] Marjorie Merriwether Post officially opened her Mar-a-Lago estate in 1927.


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[Assistant] She was then Mrs. Edward F. Hutton, and she spent four years constructing this incredible estate, which is on a coral reef in Palm Beach, anchored by concrete and steel.


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[Assistant] Just from those few facts alone, you will begin to get a sense of the history of this magnificent estate, which I saw for the first time in 1985.


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[Assistant] We've all heard of love at first sight. And I got that lightning bolt the first time I saw Mar-a-Lago.


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[Assistant] But I knew it couldn't have been easy to build something like this. And the challenges were apparent.


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[Assistant] It was a bit of a wreck from neglect, but nevertheless I was determined to own it.


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[Assistant] I think you should know a bit about how Mara Lago came into being, considering it's a historical monument.


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[Assistant] Ms. Post, who was the serial heiress, obviously thought details were important.


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[Assistant] Three boatloads of Dorian stone were shipped from Italy. Over 36,000 original Spanish tiles were laid. 2,200 square feet of black and white marble from an old castle in Cuba were used for the dining room floor and a 75-foot tower topped the main structure.


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[Assistant] Palm Beach Society was under the combined forces of Mar-a-Lago and Post, and for good reason.


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[Assistant] This place surpassed the glory of Newport and San Simeon mansions in a New York minute.


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[Assistant] In 1969, the Department of the Interior designated the estate as a National Historic Site


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[Assistant] And the property was placed on the national register of historic places.


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[Assistant] After Ms. Post's death in 1973, the estate was transferred, according to her will, to the federal government for use as a presidential retreat or for diplomatic purposes.


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[Assistant] Ten years later, because there were security concerns, as well as a huge maintenance bill, the government conferred the title back to the Post Foundation. Then I came along in 1985.


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[Assistant] A lot happened between 1985, which was my first glimpse of this spectacular wreck.


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[Assistant] Until 1995, when it was opened as a private club.


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[Assistant] Buying the property was the easy part. There weren't too many legitimate offers out there.


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[Assistant] I paid the post foundation a grand total of 8 million for the house and the grounds, including 3 million for all of the original furnishings.


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[Assistant] This included the china, the crystal, and the goldware.


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[Assistant] This was a record setting price, but in reality, it was a low price for Mar-a-Lago.


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[Assistant] Another reality I was soon to face was the opposition of Dina Merrill, Mrs. Post's daughter.


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[Assistant] Although she was more concerned with her acting career than with the wellbeing of this priceless estate, she did everything she could to thwart me.


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[Assistant] However, other members of the post family took my side and realized that I would preserve the integrity and elegance of Mar-a-Lago.


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[Assistant] One of them, Marjorie Post Die, the first grandchild and namesake of Marjorie Merriweather Post, referred to me as a big blue-eyed guardian angel hovering in a holding pattern just waiting to land and take charge.


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[Assistant] This family member later told me I had saved Mar-a-Lago


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[Assistant] My point is this. You will always have detractors. That's life. The higher you aim, the more opposition you will encounter. In spite of this, there will always be someone who will see your good motives for what they are.


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[Assistant] Around Palm Beach, Mar-a-Lago was known as a white elephant, magnificent, but impossible to maintain.


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[Assistant] Jimmy Carter gave it back to the Post Foundation because of what it was costing the taxpayers to maintain.


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[Assistant] As you know by now, I like a challenge. I used the house as a private residence until 1995, but my first thought when I saw it was that it would make a fantastic private club.


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[Assistant] Along with this great idea came another huge obstacle. Zoning and local ordinances would never permit this. It would never happen. It had to remain as a private house or the property would be subdivided.


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[Assistant] This was a horrific thought, but that was reality.


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[Assistant] I was living very happily with my family at Mar-a-Lago, even though it is far too big as a house.


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[Assistant] There were parts of it I had never seen. There were bomb shelters for example, and many wings were left vacant.


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[Assistant] Then in the 1990s, I ran into a financial crisis to the tune of billions of dollars.


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[Assistant] You can imagine my thoughts. Great time to own a money pit.


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[Assistant] But I can tell you, I didn't actually find it a great weight. I had so much else to worry about, that even with its problems, Mar-a-Lago felt like a minor weight to me. I remember being in a room full of bankers, trying to work out a very complex situation, and there were friends who were truly trying to be helpful.


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[Assistant] Trying to be lighthearted in a dire situation, I said to them, Well, since it's Friday, I think I'll go down to Mar-a-Lago for the weekend on my 727.


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[Assistant] They didn't think that was very funny and I knew immediately I'd made a big mistake. So I quickly told them I was going to subdivide Mar-a-Lago and call it the Mansions at Mar-a-Lago and promised them it would be a huge moneymaker.


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[Assistant] That worked. I saw their anger disappear immediately.


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[Assistant] However, now I was stuck with doing something about what I just promised. The thought of subdividing Mar-a-Lago was anathema to me.


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[Assistant] I went to Palm Beach with the idea in mind because it was a logical solution to the problem. And I met with the town attorney and the town building inspector.


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[Assistant] I thought I was entitled to 14 lots, but they suggested I ask for 8, because then the zoning board would go through quickly.


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[Assistant] However, the town rejected my proposal, even though it was routine proposal, nothing extraordinary or outlandish, and less than what I was entitled to ask for.


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[Assistant] But I was amiable and went along with whatever they were demanding I was wondering how long they would continue to try to bamboozle me.


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[Assistant] Here's where it's important to stop and think for a moment. If you remember, I had hoped to turn Mar-a-Lago into a club in the first place, but I had doubts, big doubts, that it could ever get rezoned as a club. Instead, look what happened.


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[Assistant] You may be right if you're thinking, is anything ever easy for this guy? Even if his name is Donald Trump?


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[Assistant] Doesn't seem so does it? However, I was determined to set this straight.


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[Assistant] As a result of the treatment I got from the city of Palm Beach, my team and I went over everything we had done in the past year and a half and made sure we had complied precisely with every demand.


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[Assistant] Then we reviewed the actions of the Landmarks Preservation Commission as well as the Town Council, and we decided to file a $100 million lawsuit. My civil rights had been denied, and we all knew it. I saw a way this could work to my advantage.


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[Assistant] That's a good thing to remember when things seem unfair or unjust in your life.


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[Assistant] The town council came back to me and said they would give me the 14 lots that I originally wanted. The maximum allowed under the law.


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[Assistant] So I told them I wasn't interested anymore. What I wanted was a private club. Now I had leverage due to their mistake.


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[Assistant] It also turns out that two town council members had the prescience to see what could be done with Mar-a-Lago to make Palm Beach even more desirable. And the town council eventually approved Mar-a-Lago for a private club.


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[Assistant] This event took longer than a paragraph to describe, but another reason we got approval is that Mar-a-Lago would be open to everyone.


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[Assistant] There were some clubs in Palm Beach that had no Jewish or African American members. It was hard to believe that, but it was true, and I wanted to change that for good.


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[Assistant] Now we not only had a good case, but a good cause.


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[Assistant] Needless to say, this plan brought a whole new group of detractors to the surface. I was prepared for the attack. Every issue became a battle during this time to get Maralago going as a club. Once again, however, I knew I was doing the right thing.


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[Assistant] It has since been referred to as the Jewel of Palm Beach, and for good reason.


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[Assistant] Coach Trump. Make it happen in your life.


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[Assistant] You might think I would get tired of all the fighting around Mar-a-Lago. It's a funny thing, but sometimes you find that the more opposition you encounter or create by your actions, the more energy you get.


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[Assistant] Try that approach sometime instead of throwing in the towel or being disgusted when you run into opposition. You'll find out how tough and smart you really are.


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[Assistant] The actions of the town council, along with the archaic response of the town against the club that admitted all people, gave me a tenacity that could not be beaten.


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[Assistant] Repeat that to yourself. I'm doing the right thing, and I will not be beaten.


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[Assistant] At the same time I was struggling to create Mar-a-Lago, I had many difficulties, obstacles, and setbacks with many other projects as well. I started to learn to expect problems. Experience can give you a resiliency that is very valuable.


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[Assistant] When you get to that point, remember, don't give up.


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[Assistant] They want to build a new runway nearby and it's a real problem. Here's a letter I wrote to the local paper. You have to keep fighting. March 26th, 2007.


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[Assistant] Mar-a-Lago is a great landmark, which would be hurt badly by adding another runway to Palm Beach International Airport. It would destroy the integrity of Mar-a-Lago, and the National Trust for Historic Preservation is in total agreement with that assessment. Another runway would be a disaster.


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[Assistant] Of equal importance for the city and state government, it is a total waste of 1.5 billion dollars to build a runway that is unnecessary.


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[Assistant] My pilots and others who are familiar with aviation and the peculiarities of airports feel it is a complete and total waste of money as the current runways are adequate and will be well into the future.


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[Assistant] They have other land that could be used to build a runway at a different section of the airport if it were really necessary, which it is not.


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[Assistant] In short, to build another runway would be destructive as well as wasteful. Save the money and let Bruce Pelly get on with his life. Donald J. Trump.


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[Assistant] Sometimes it pays to take the time to set the record straight.


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[Assistant] When the New York Times published a review of a book that included some juvenile remarks about me, I was inspired to write them a letter.


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[Assistant] The book review didn't merit a letter, but I enjoy writing when I can set the record straight or make a point.


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[Assistant] The letter was published by the New York Times, and as it turns out, was named Best Letter of the Year to the New York Times Book Review by New York Magazine.


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[Assistant] It may have been a condescending letter, but so were the reviewers' remarks. Why did I take the time to write it?


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[Assistant] I hope it doesn't, but remember to do something about it if it does. You just might win a citation for your efforts in addition to setting things straight.


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[Assistant] Creating win-win situations for yourself can happen even as a result of bad or negative knocks. That's how you turn problems and challenges into successes.


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[Assistant] Best letter of the year to the New York Times Book Review, New York Magazine, August 2005. To the editor.


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[Assistant] I can remember when Tina Brown was in charge of the New Yorker magazine and a writer named Mark Singer interviewed me. He was depressed.


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[Assistant] I kept thinking, okay, expect the worst. Not only was Tina Brown dragging the New Yorker to a new low, this writer was drowning in his own misery, which could only put me in a skeptical mood regarding the outcome of their combined interest in me.


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[Assistant] Misery begets misery, and they were a perfect example of this.


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[Assistant] Jeff McGregor, the reviewer of Character Studies, Encounters with the Curiously Obsessed, a collection of Mark Singer's New Yorker profiles, writes poorly.


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[Assistant] I'm a best-selling author for close to 20 years. Whether you like it or not, facts are facts.


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[Assistant] The highly respected Joe McQueenan of the New York Times Book Review mentioned in his article of March 20, 2005, Ghosts in the Machine,


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[Assistant] That I had produced a steady stream of classics with stylistic seamlessness and that the voice of my books remained noticeably constant to the point of being an astonishing achievement.


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[Assistant] This was high praise coming from an accomplished writer.


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[Assistant] From losers like Jeff McGregor, whom I have never met, or Mark Singer, I do not do nearly as well. But I'll gladly take Joe Quinan over Singer and McGregor any time of the week. It's a simple thing called talent.


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[Assistant] I have no doubt that Mr. Singer's and Mr. McGregor's books will do badly. They just don't have what it takes. Maybe someday they'll astonish us by writing something of consequence. Sincerely, Donald J. Trump, New York.


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[Assistant] I read recently that Sprint Nextel has cut more than 1000 customers for being too high maintenance. Apparently, these clients call customer service too often and make what the company says are unreasonable requests.


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[Assistant] While the average subscriber calls customer service less than once a month, these 1200 subscribers getting released by the company call 40 to 50 times more frequently.


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[Assistant] All the excessive complaining has frustrated management to the point that the business just isn't worth it anymore.


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[Assistant] Sprint says they've done what they can to try to resolve the issue, but because the complaints keep coming in, obviously these customers will never be happy. So, they're letting them take their business elsewhere.


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[Assistant] So, you have to just go about your business and forget about them.


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[Assistant] Don't keep catering to complainers. A complainer will always be a complainer. They're trouble. Plain and simple. They're just not worth it.


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[Assistant] You may have to wait twenty years for a deal to pay off. A West Side Story


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[Assistant] What does it feel like to work on something for 20 years?


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[Assistant] For one thing, it can make you realize that great things don't come easily.


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[Assistant] Another thing is that it will give you a sense of accomplishment that can't be denied by anyone, even by your most vociferous detractors. I should know, I've had plenty of those. People have often asked me, what keeps you going?


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[Assistant] In this case, what kept you going on a simple development project for three decades?


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[Assistant] There's a famous Broadway musical that became an Academy Award-winning movie called West Side Story. It's considered a classic.


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[Assistant] The score, the lyrics, and the story are timeless.


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[Assistant] It also took ten years of collaboration between four very gifted people to get it up and going.


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[Assistant] I used to think of that when I was trying to get somewhere with the Westside rail yards in New York, which have now become Trump Place.


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[Assistant] Then one day I realized I'd been working on it for close to 30 years with no collaborators trying to get this going with me. I was in it alone. I think I deserve a Tony Award or two for that. But the story itself could win an award without spinning any yarns or singing any tunes to make it interesting.


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[Assistant] It's the perfect illustration for the title of this book, Never Give Up.


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[Assistant] This saga began in 1974 when I secured the option to buy the Westside rail yards from Penn Central Railroad.


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[Assistant] The city wasn't doing great, and the west side wasn't as cool as it is now by a long shot. But this was riverfront property, and I was getting it at a very low price. It was my first major deal in Manhattan.


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[Assistant] During the next five years, I was busy with my other projects, which included the Commodore Hyatt renovation, Trump Tower and Atlantic City.


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[Assistant] At the same time government subsidies dropped for the sort of housing I was considering for the location.


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[Assistant] In addition, I had great opposition from the West Side community which was notorious for their reluctance to change.


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[Assistant] It was a tough situation, and I was busy with other things. So I gave up my original option in 1979, and Penn Central sold the rail yards to someone else.


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[Assistant] The team they sold it to was smart, but they didn't have much experience in New York. You need a solid knowledge of rezoning which is a complex fact of the real estate business in this city.


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[Assistant] And they weren't prepared for what it entailed, nor did they know how to promote it.


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[Assistant] I was surprised to receive a call in 1984 telling me they were interested in selling. I agreed to buy it for 100 million dollars.


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[Assistant] That's about 1 million per acre for waterfront property in midtown Manhattan.


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[Assistant] If you consider that the Coliseum site, now the Time Warner building at Columbus Circle, which is not too far from the rail yards, and is very small in comparison, was sold for 500 million very shortly after I bought the rail yards, you can see that it was a tremendous deal. That was 1984, and now it's 2007.


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[Assistant] Trump Place, which is comprised of 16 high-rise residential buildings overlooking the Hudson River, is almost finished, but not quite.


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[Assistant] It has been quite a ride. But let's get back to how it happened.


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[Assistant] I realized I'd have to make this project beneficial and attractive to the city in the hope they would give me the zoning I needed.


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[Assistant] What that would be, I didn't yet know, but by coincidence shortly after I bought the rail yards, NBC announced they were looking to relocate.


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[Assistant] They'd been at Rockefeller Center for years and were considering a move to New Jersey, which would save them money due to lower taxes and lower real estate prices.


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[Assistant] My idea was to offer NBC enough space to comfortably relocate to the west side, while still being able to build my residential project as planned.


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[Assistant] I then realized the site was ideal for television and motion picture studios, regardless of whether NBC was interested.


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[Assistant] I decided to call this part of the project Television City.


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[Assistant] That would attract attention and hopefully generate some excitement.


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[Assistant] I would also plan to build the worlds tallest building on the site and announce that to the press. You can imagine the interest that generated.


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[Assistant] Just as it happened before with Wolman Rink, Mayor Koch and his allies were against any and all of my ideas. People said I wasn't being reasonable, but the controversy I stirred up managed to keep this project in the news.


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[Assistant] I'm big on promotion because promotion works. It helps to get things done. It helps to get the public interested in what will ultimately benefit them.


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[Assistant] However, the city was stonewalling my project. Koch was still bruised from my success with Wallman rink, and he certainly didn't want to see me with any more victories.


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[Assistant] Let's just say those interim years between 1984 and 1996 were usurped by the ridiculous antics of the city.


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[Assistant] You've gotten a taste of that already with Wolman Rink. However, this 12-year period is when my tenacity was given a true test. This was the largest development ever approved by the New York City Planning Commission and the biggest project ever undertaken by the private sector in New York City.


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[Assistant] A couple of times I thought, is this really worth it? Then the challenge itself would keep me going.


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[Assistant] When I say never give up, that applies to me, big time.


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[Assistant] I used seemingly detrimental factors to my benefit.


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[Assistant] For example, in the early 1990s, things were not good in New York City, but that meant that it was easier to get the zoning I needed.


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[Assistant] A few years later, I started to build in a rising economic climate which is the ideal situation. Things started looking up. However, it never was easy.


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[Assistant] Patience is a word not normally associated with me, but you can see that, in fact, it's very much a part of my being.


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[Assistant] Because I hung in there, we eventually got the approvals we needed, and were finally able to break ground in 1996.


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[Assistant] Through the years, my plans for this site changed and Trump Place evolved into a fantastic residential property that has greatly improved the West Side.


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[Assistant] The 16 high-rise buildings are each unique and very beautiful in their own way. And the community-enhancing 25-acre riverside park offers bicycle paths, waterfront walking, picnic and sporting areas, and a pier.


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[Assistant] It's become a thriving gathering place for the neighborhood and the buildings sell out before they are finished.


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[Assistant] It has been a 20 year ordeal, but it's a tremendous feeling to see how it has finally worked out.


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[Assistant] I think everyone's happy about this one, except maybe for former mayor Koch.


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[Assistant] If you visit New York City, be sure to visit the pier and look behind you at the magnificent stretch of buildings along the Hudson River. It's quite a sight.


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[Assistant] Coach Trump. Make it happen in your life.


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[Assistant] Remember that some things are worth waiting for. Plans can change, sometimes for good reason. Everything has a flip side.


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[Assistant] Then complaints will not be accepted. Keep working, keep waiting, and of course, never give up.


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[Assistant] One of the best pieces of advice he ever gave me was his favorite formula for success. I call it the four step formula. Get in, get it done, get it done right, get out.


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[Assistant] In looking back, I realized I also learned this by watching him in action. That's how he operated. And it worked.


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[Assistant] Some people say that I'm blunt, that I'm brash, that I'm no-nonsense. That's all true.


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[Assistant] To me, it's a compliment, because that's how I get so much done.


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[Assistant] That doesn't mean that I'm not patient, because I am. But when it's time to get moving on something, the best thing to do is get moving.


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[Assistant] I've seen people wait so long for their golden opportunity that by the time they get around to doing something, it's too late. Let's break this formula down. 1. Get in is shorthand for getting started.


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[Assistant] If you want to be part of the action, you can't watch from the sidelines.


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[Assistant] Give yourself a goal and focus on it. Write it down.


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[Assistant] There is a lot of information now that proves that making lists, even if you are able to do it in your mind, which I am, is effective.


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[Assistant] In fact, three lists should be in your mind at all times. Your daily goals first, your year's goals second, and then your lifetime goals.


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[Assistant] Look at or think about these lists daily. It will help your focus tremendously.


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[Assistant] A lot of people don't realize that stress is directly related to loss of focus. So if you learn to control your power of focus, you'll be on your way to conquering stress in your life. Two, get it done. Sometimes that's easier said than done.


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[Assistant] Here's where you may have to confront obstacles, so, expect them. Expect problems.


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[Assistant] Here's where I can be, and have been labeled, difficult.


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[Assistant] I know what great is. I know what mediocre is. Mediocre and I do not get along. I have high standards for myself and therefore I don't put up with less than the best.


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[Assistant] That's why the Trump brand is synonymous with the best.


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[Assistant] If you have a product or a brand or a business, you'd better have the same attitude or you're not playing hardball. This focus is how I made a name for myself.


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[Assistant] I have the ability to get things done and to get them done right.


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[Assistant] Very few people will argue with that fact whether they like me or not. I can deliver the goods and they know it.


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[Assistant] This approach will clear your slate for all the new and exciting projects that are waiting to be done by you.


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[Assistant] This is another example of disciplined focus. When a job is finished, it's your time to move on.


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[Assistant] I have people who will look after my developments, and there is no reason for me to spend my time doing what other people can do. My job is to find new projects for everyone to work on.


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[Assistant] Figure out what your job is and streamline your activities and mental energy to focus on that.


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[Assistant] Considering the scope of my businesses and the fact that I am actively involved in all of them, I think you can recognize the fact that I employ the four-step formula on a daily basis. Day in, day out. That is how I organize my thoughts and my days. It worked for my father and it works for me. Make it work for you.


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[Assistant] The turnaround always starts with creative, positive thinking.


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[Assistant] Twelve hundred foreclosed apartments in Cincinnati.


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[Assistant] I was thinking about Norman Vincent Peale, so I mentioned him in a speech I gave where my point was that positive thinking really works.


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[Assistant] Dr. Peel wrote the classic book on this topic called The Power of Positive Thinking, New York, C.R. Gibson, 1956. I attended Dr. Peel's church in New York City and I heard him speak some years back.


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[Assistant] What I took away from his speaking is that positive thinking is creative thinking.


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[Assistant] You can't be positive unless you also make an effort to think creatively about your situation.


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[Assistant] Dr. Peel was a tremendous storyteller, and I also like to tell stories to illustrate a point.


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[Assistant] This chapter tells the story about how something that's a mess can turn out brilliantly if you are positive and creative in your approach.


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[Assistant] I was always interested in foreclosures and would spend my time in college reading the listings of federally financed housing projects in foreclosure.


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[Assistant] That's how I found Swifton Village in Cincinnati, Ohio.


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[Assistant] My father and I bought it together and it became my first big deal. I was still in college.


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[Assistant] Swifton Village was in big trouble. There were 800 vacant apartments out of 1,200, the developers had faltered, and the government had foreclosed. It looked a mess. However, I saw it as an opportunity.


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[Assistant] Even the fact that there were no other bidders did not discourage me. That's often when you can get the best deals.


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[Assistant] My father and I put in a minimal bid for Swifton Village. The project had cost 12 million two years earlier, and we paid less than 6 million.


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[Assistant] We got a mortgage for what we paid, plus close to $100,000, which we'd use to fix up the property a bit.


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[Assistant] This means we got the project without putting down any of our own money.


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[Assistant] Our first big challenge was to find tenants who would pay rent.


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[Assistant] That doesn't sound like an outlandish request, but this complex had a reputation for rent runners.


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[Assistant] I realized we'd have to hire someone for round the clock patrol, which we did.


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[Assistant] We also wanted to make some improvements because the place was pretty dilapidated.


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[Assistant] Considering the size of the complex, that would require $800,000.


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[Assistant] Fortunately, to cover this cost, we were allowed to increase the rents immediately.


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[Assistant] Some of the improvements we made included replacing the ugly aluminum front doors on the apartments with colonial white doors.


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[Assistant] We also put white shutters on all the windows, which considerably improves the aesthetics of a large mass of red brick buildings.


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[Assistant] We made sure the grounds were properly landscaped and maintained and that the apartments were freshly painted and perfectly clean. The change we made was impressive.


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[Assistant] When we were finished, we ran newspaper ads in Cincinnati. People came and were impressed.


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[Assistant] In less than a year, Swifton Village was 100% rented and it looked fantastic. It was a beautiful place to live.


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[Assistant] The next crucial challenge when you have a complex this size is to find a project manager. We went through at least six or seven before we found a person suited for the job. I'll never forget this man. He wasn't politically correct. He was as incorrect and insulting as they come.


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[Assistant] He was the personification of a con man. As it turns out, he was a con man with a very colorful record of multiple swindles and cons to his credit.


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[Assistant] But he was a fantastic manager. He could work quickly and get things accomplished.


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[Assistant] The other managers were perhaps more honest, maybe more affable, but they were ineffective and nowhere near as sharp. I knew I'd have to keep my eye on this guy but at least things would get done.


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[Assistant] This wasn't an easy situation from the get-go, but it was a great lesson in human nature and looking positively and creatively at someone's qualifications.


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[Assistant] Outwardly, the guy looked and acted like a disaster, but he was the one who did the best job.


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[Assistant] He got Swifton Village running well enough so that I didn't have to be in Cincinnati very often.


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[Assistant] I knew he was probably ripping me off, but he kept the place well and people actually paid their rent. The project was a resounding success.


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[Assistant] A few years later when I was visiting the property, I ran into a tenant who had become a friend.


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[Assistant] He had survived a concentration camp in Poland, so I knew he had street smarts and I respected his opinion.


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[Assistant] He told me I should get out, sell the place. It was successful and fully rented, so I asked him why, and he said, it wasn't the property or the management, but the area that was turning bad.


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[Assistant] I spent a couple days in Cincinnati to check this out for myself, and he was right.


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[Assistant] Response was swift, and it wasn't long before I saw the fruits of my first big deal.


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[Assistant] We bought Swifton Village for 6 million and sold it a few years later for 12 million. That's a nice profit.


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[Assistant] The thing to remember is that I went into this crummy place and decided not only to see it positively but creatively and look at the results of that attitude. Cultivate it in yourself.


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[Assistant] Creative positive thinking can be a powerful source for success.


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[Assistant] When I was starting out in Manhattan, I had to be courageous because I was in new territory.


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[Assistant] I did my homework and studied and watched what was going on, but I was paving my own way here and I had to appear confident or I knew I'd never make it.


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[Assistant] Every day mattered, and every day was important.


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[Assistant] It's so much easier to achieve when you feel good about yourself, your abilities, and your talents. That's why I'm emphasizing confidence as a way to get the most from every day. It's absolutely essential, so never let anyone undermine you, including yourself.


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[Assistant] Even if you haven't encountered great success yet, there is no reason you can't bluff a little and act like you have.


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[Assistant] Confidence is a magnet in the best sense of the word. It will draw people to you and make your daily life and theirs a lot more pleasant.


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[Assistant] Take the pains required to become what you want to become, or you might end up becoming something you'd rather not be.


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[Assistant] It's like the hub versus rim theory. Do you want to be the hub or the rim?


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[Assistant] Being the hub means you're more centered, more central. Being on the rim is being away from the action or the driving force.


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[Assistant] When I emphasize the importance of focus, that is one way of visualizing it.


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[Assistant] Focusing on the center on what's really important in your life can make the difference between your being the hub or on the rim. Business is full of complexities. That's what makes it so interesting.


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[Assistant] Business can be an art, and as an art it is evolving and mysterious in its own right.


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[Assistant] When I wrote The Art of the Deal, I was really just illustrating this aspect of business, and I haven't changed my mind about it. Like an artist, I give my utmost every day to what I'm doing. I'm not pretending in any sense of the word.


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[Assistant] If you really want to succeed, you'll have to go for it every day like I do. The big time isn't for slackers.


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[Assistant] Keep up your mental stamina and remain curious. Bored people equal unintelligent people in my mind.


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[Assistant] Hopefully, since you're listening to this, that unfortunate group won't ever include you. It better not. I don't like dropouts either. Get with and keep up with the program, and I mean every day.


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[Assistant] I'm not really a tough guy, but I am when it comes to education and using your brains.


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[Assistant] Ignorance is more expensive than education, and considering what's available these days, Trump University for example, very few people can make a strong case for ignorance.


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[Assistant] I couldn't have said it better. Get your vision, get focused, and then do the work. Starting today.


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[Assistant] Take a lesson from Muhammad Ali and me. Know when to brag.


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[Assistant] Noise versus substance versus chemistry.


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[Assistant] He didn't quibble. He stated in absolute terms that he was the greatest.


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[Assistant] Fortunately, he proved that he was, or he might have gone down as someone who was delusional.


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[Assistant] It's interesting to note now that those days are history, that he set himself up for a situation that demanded that he prove himself, and he did.


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[Assistant] I think he set the bar high for himself on purpose. I know I do.


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[Assistant] Second, I know I have to live up to my own expectations.


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[Assistant] When you announce something publicly for the world to hear, you'd better be right or the day of reckoning won't be sweet.


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[Assistant] I don't have to worry about that so much anymore, but my standards are such that I give everything the same amount of effort as if it was my first big deal. Plus, announcing a new project always gets my adrenaline flowing.


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[Assistant] These public announcements aren't bragging, I simply state the facts. The fact is my buildings are the best. That's why they sell out, very often before they're even built.


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[Assistant] Trump buildings get higher prices per square foot because they aren't just a brand name, but a luxury brand name. People know what they're getting. The buildings are in demand.


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[Assistant] Why should I have false modesty when it's false? The same goes for you. If you have something to be proud of, and you can back up your claims, then go for it. Let people know.


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[Assistant] There's no reason to be coy about great accomplishments.


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[Assistant] Marketing today requires that we grab the customer's attention. It can make or break a business.


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[Assistant] I do most of my own public relations because I know how to advertise my own brand.


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[Assistant] If you have a product or service, learn to do the same. It will save you time and money.


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[Assistant] If you don't believe in your product and can't talk it up, who will?


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[Assistant] When people say, that's not my style, I can understand up to a certain point, but my initial reaction is that maybe they're not too confident about the quality of their work.


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[Assistant] I had a young guy come in who had a remarkable background, but he was so self-effacing that I started to believe his attitude more than his accomplishments. I ended up not hiring him because of the dampening effect of his attitude.


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[Assistant] If he had been a bit more upbeat, I would have been more apt to believe in him.


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[Assistant] Note what I said, I believed him, but I didn't believe in him.


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[Assistant] His attitude overshadowed his qualifications.


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[Assistant] I don't need to hear someone bragging to be impressed, but someone who is obliterating his own chances seems like a loser to me. I don't want him on my team.


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[Assistant] When you go out for interviews, keep that in mind. There's a fine line you have to draw.


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[Assistant] You may be interviewing with someone who is low-key. That's good. Keep that in mind.


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[Assistant] Most people will be able to recognize substance when they see it, but chemistry can't be ruled out either.


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[Assistant] The young man I mentioned earlier will be a good fit. Somewhere else, I have no doubt about it. Remember that sometimes it's just a matter of being on the same wavelength, that old but true fact of personal chemistry.


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[Assistant] It became clear to me that wrestling is a very big deal these days, but just as I never thought I'd host Saturday Night Live, I never thought I'd get into a ring and take a challenge from Vince McMahon of WrestleMania. But I did.


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[Assistant] I guess one thing to remember is never say never and never think never.


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[Assistant] I also never thought I'd agree to have my head shaved if I lost a bet, but I did.


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[Assistant] Fortunately, I didn't lose, so my famous hair is still there, and it's still famous. Did I have any doubts about winning? I sure did.


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[Assistant] The challenge was to remain confident and believe I would win.


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[Assistant] More than 81,000 people turned out to see what would happen. This was a new arena for me to begin with.


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[Assistant] Wrestling? I was into baseball when I was in college, and I knew a lot about it. I was hardly an expert at wrestling. Which translates to, I had a lot to learn.


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[Assistant] I like to know what I'm doing, and Vince and I would be picking wrestlers to represent us in the ring.


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[Assistant] After much research and consideration, I chose Bobby Lashley and Vince chose Umaga, both top wrestlers.


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[Assistant] We had a press conference in Trump Tower a few days before the match, and during the conference, things got a little rough. Vince was taunting me, so I belted him, and the next thing we knew, Vince was on the floor. My bodyguard jumped out, our wrestlers went on the alert, but we saved the real fighting for the ring.


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[Assistant] Vince and I had been friends before, but this friendly competition was becoming something else.


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[Assistant] The wrestling event set records and was featured in the New York Times in a major article.


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[Assistant] This was big time, and the buzz ran the gamut from diehard fans who showed up in person to millions watching pay-per-view out of curiosity. What was Donald Trump doing now? Would he really risk getting his head shaved?


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[Assistant] Well, I realized I liked the challenge. I didn't have to get into the ring, but it was still a match. The Battle of the Billionaires is how it was built in fact.


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[Assistant] Vince McMahon is an amazing guy, and he has been a successful businessman.


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[Assistant] Because he's an expert in wrestling, I had a few doubts about my ability to choose the right wrestler who would help me see this through triumphantly.


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[Assistant] As the buzz increased I knew there was no turning back.


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[Assistant] I'd either win or lose. It became that simple.


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[Assistant] I like the adrenaline rush that this caused. It was exciting, and I realized I was having a great time.


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[Assistant] You've got to love what you're doing, as you've heard me say many times before. There was no doubt that I was loving it.


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[Assistant] Winning was the icing on top. Not having my head shaved was pretty nice too.


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[Assistant] Which shows that it's worth it to take some risks sometimes.


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[Assistant] This is one of the biggest public chances and challenges I've ever taken. Was it worth it?


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[Assistant] Absolutely. I recommend you take a few yourself. Life's not for the timid. Life's about never giving up. So get into the ring.


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[Assistant] When you've spent 40 years building a brand that is known worldwide, and then someone publishes a book that denounces your worth and damages your image and reputation, and in a scathing way, it becomes a serious issue.


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[Assistant] There is a writer with the New York Times named Tim O'Brien who had written some very negative articles on me. I didn't like him and I didn't respect him as a writer because his facts were so incorrect and his articles were so viciously negative.


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[Assistant] Then I heard he was doing a book about me, and I was told he would write it with or without my cooperation. So it seemed in my best interests to work with him so his facts would be correct.


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[Assistant] I already knew he was bad news, but I was very cordial and open with him, giving him interviews and having him travel with me on my jet so I could give him the time he needed.


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[Assistant] I extended every courtesy to him, especially that of time.


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[Assistant] Then his book, Trump Nation came out, and I realized there's a difference between bad news and evil. This guy was despicable. His intent was defamation.


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[Assistant] I'm not sure what he was writing about because what he wrote is so far from the truth.


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[Assistant] He had outright lies in his book, and he intended to damage me personally and my businesses.


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[Assistant] His reporting was reprehensible, and as a writer, he is not very talented.


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[Assistant] I decided not to look the other way and toss it off as jealousy, malice or greed. Instead I sued him and the publisher for a lot of money.


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[Assistant] The writer got the attention he was obviously looking for, but his publisher got something they weren't looking for.


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[Assistant] They obviously didn't know they were dealing with a guy who would eventually write never give up and actually mean it.


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[Assistant] The publisher's conduct was not much better than O'Brien's, and they will have to bear the consequences.


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[Assistant] There are all types in the world. I've known some terrific writers and journalists who are honest and dedicated to their profession.


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[Assistant] Even though this guy wrote badly about me in the past as a New York Times reporter, I like to give people the benefit of the doubt, or at least a chance.


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[Assistant] In this case, I was giving him a second chance. In fact, more than a second chance considering the negative articles he'd already written about me.


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[Assistant] So take this as a warning. They are going to pay a big price.


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[Assistant] This writer had access to all the facts, but chose to ignore them.


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[Assistant] Instead of relying on those facts, he claimed he was relying on anonymous sources to misrepresent my business.


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[Assistant] So what I did was to invite Forbes in to investigate, to go over everything, which they did meticulously, and they confirmed what they had originally found, that I was worth conservatively 2.7 billion.


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[Assistant] They published their findings. All this time and effort put out by the Forbes team and my team was a direct result of Trump nation's deliberate reporting errors designed to damage my reputation and businesses.


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[Assistant] As of September 2007, Forbes confirmed my worth at 3 billion.


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[Assistant] That number is much less than my actual net worth, but they were being very conservative.


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[Assistant] By way of comparison, a very well respected journalist and writer, Robert Slater, wrote a book about me, no such thing as overexposure, that turned out wonderfully for everyone. I had extended to Bob actually less hospitality than I had to Tim O'Brien, but because Bob is a writer of integrity, the end result was terrific.


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[Assistant] Bob has great credentials, having reported for both Time and Newsweek for many years and he is one of the world's leading business biographers.


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[Assistant] He also seems to understand that getting the facts right is part of a journalist's job.


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[Assistant] In any event, I told the publisher I had no interest in settling without a large payment and a full apology.


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[Assistant] I say, why give up? I do not back down. I don't need the money from winning the case. I need to set the record straight and maybe make it harder for other disreputable writers to knock people for the fun or profit of it.


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[Assistant] I told them it was a court case that I am truly looking forward to because that's the truth.


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[Assistant] Trump National Golf Course in Palos Verdes, California.


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[Assistant] I've always said I liked challenges, and when I decided to take over the beleaguered Ocean Trails Golf Course in Palos Verdes near Los Angeles, that's exactly what I got. I began referring to it as Ocean Trials before renaming it Trump National Golf Club, and for good reason.


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[Assistant] In an article in Fairways and Greens, they described the 18th hole, which, by the way, is the one that slid into the ocean, as ground zero, plus 61 million.


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[Assistant] Can you believe I spent 61 million on one hole? Well, believe it. When I want something done, I want it done right.


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[Assistant] This hole is the most expensive in golf history. I would hope so because I can't imagine doing this too many times.


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[Assistant] If you saw the situation through my eyes, you would see that it warranted every penny I spent.


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[Assistant] The course fronts the Pacific Ocean for two miles and easily rivals the fabled Pebble Beach in both beauty and finesse.


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[Assistant] I could see that before it became a reality, and so I didn't care about the expense involved.


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[Assistant] Golf courses are works of art and deserve that kind of attention.


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[Assistant] As with many of my projects, I've been paying attention to this course for years. I knew it had the potential to be one of the top tier golf courses of the world.


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[Assistant] However, when it opened as Ocean Trails in 1999, there was a catastrophe when the 18th hull slid toward the ocean, also damaging three adjacent hulls.


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[Assistant] The water lines which were beneath the fairway had given away.


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[Assistant] This was a very serious mess. A landslide is a nightmare for a cliffhanging property. Especially when it involves 17 acres of earth.


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[Assistant] Suddenly, an 18-hole course was reduced to a 15-hole course.


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[Assistant] It was a disaster for the owners, and they entered bankruptcy court in 2002.


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[Assistant] That's when I made my move and offered them 27 million for the land, the clubhouse, and the course.


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[Assistant] Compare that to 61 million for one whole.


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[Assistant] It was a good deal. I had to make a choice. Should I just fix it and be done with it because it was already a nice enough course? Or should I go all out and make it over into one of the most celebrated courses in the world? I think you can guess which choice I made.


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[Assistant] It wasn't the easy choice, but it was the best one.


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[Assistant] I estimated that to redo the entire course, including reconstruction of the fallen hole, would cost me around 265 million.


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[Assistant] So, how do I explain 61 million for one whole?


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[Assistant] Well, this is what was involved. A series of walls made from local palace Verde's rock quarried at $600 a ton and a structural layer built underneath the hole that goes down the cliff to the beach, which means that every 10 feet is a steel platform which provides a very strong structure. This was intricate and difficult work.


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[Assistant] I will admit, I had some second thoughts about spending that much on one hole. That's a huge investment, no matter how much money you have. And the difficulties were astounding.


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[Assistant] What I did was something that I would suggest to you. Look at the solution, not the problem.


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[Assistant] I focused on the spectacular outcome I wanted and it got done. I had moments of doubt when I wondered how feasible my think big attitude was going to be in this situation and where it might lead me.


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[Assistant] Well, I guess I like cliffhangers because it definitely had that feeling about it.


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[Assistant] On the positive side of things, I brought in Pete Dye, one of the legends in golf course design, to remake Ocean Trails into a worthy rival to Pebble Beach.


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[Assistant] If anyone in the industry could do that, Pete Dye could.


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[Assistant] I wanted to make this course the best, and we completely redesigned it. It's brand new.


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[Assistant] From the traps and sand, to the tees and fairways.


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[Assistant] I have to stop here to say that there are no guarantees in anything.


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[Assistant] People see my successes, and really think it's a breeze to get it all done. It's not.


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[Assistant] And I spend plenty of time assessing, reassessing, analyzing, and scrutinizing. People just don't see me doing that.


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[Assistant] Another important thing to consider is experience.


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[Assistant] I've been a developer for a long time, so a lot of decisions are second nature to me, and not a terrific demand on my brain power to figure out.


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[Assistant] I can move quickly once I've done the groundwork in my mind.


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[Assistant] Be sure you have a foundation of expertise and experience in whatever you do. And then you can act decisively and creatively.


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[Assistant] There were a lot of details to consider along with the reconstruction of the golf course itself. The 40,000 square foot clubhouse for one thing, which has a restaurant that has won the Golden Scepter Award, best new restaurant, and the Golden Bacchus Award for its wine list.


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[Assistant] The course itself has become the number one golf course in California.


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[Assistant] And the Michael Douglas and Friends Pro Celebrity takes place there every April.


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[Assistant] Trump National Golf Club Los Angeles has become a spectacular success on all levels. You might even call it a landslide.


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[Assistant] My never give up moment came when, after knowing the potential of the property for years, I saw that landslide disaster and wanted to do something spectacular about it. Thinking big? What a great idea.


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[Assistant] You've heard me emphasize the importance of keeping informed about global events, which includes political as well as financial news.


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[Assistant] I'd like to recommend to you a book that was published in 2007 that reinforces the importance of thinking internationally.


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[Assistant] It's called Microtrends, the small forces behind tomorrow's big changes.


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[Assistant] It's written by Mark J. Penn, who is a highly respected analyst, who has been an advisor to Fortune 500 corporations, and to many foreign heads of state.


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[Assistant] He has an insight into both national and international trends and events that shape our future.


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[Assistant] Bill Gates said, Penn has a keen mind and a fascinating sense of what makes America and the world tick, and you see it on every page.


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[Assistant] Pen has a chapter on international homebuyers.


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[Assistant] Being in real estate, I took a special interest in what he had to say.


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[Assistant] Penn astutely points out that foreign ownership of residential real estate in the United States is a hot trend.


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[Assistant] Globalization has torn down the barriers that have formerly separated the national from the international markets, and one result is that affluent foreigners have been drawn to real estate in the United States.


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[Assistant] I recognized this years ago, which he points out.


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[Assistant] In New York, Donald Trump was a major factor in opening up the city to foreigners. Most buildings in New York City had been co-ops, and since co-ops can reject anyone for just about any reason, they looked very carefully at absentee foreign purchasers.


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[Assistant] But Trump opened condos and sales of condos are largely unregulated because they offer single apartments, not shares in a corporation.


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[Assistant] Now that most new buildings are condos, foreign buyers are streaming in.


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[Assistant] The important thing to consider is that more and more there is an interdependence of world economies. No one can afford to be isolationist anymore.


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[Assistant] For many years, many Americans have had second homes in foreign countries and now the trend, as Penn points out, has hit our shores.


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[Assistant] This is nothing new, but it's relatively new to us. I think it's a harbinger of things to come. And when I first went with condos years ago, I knew it was a timely thing to do.


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[Assistant] My point is, I had been keeping up with global events for years and it wasn't that hard for me to see this trend coming.


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[Assistant] I'm not clairvoyant, but I take the time to be well informed. You can and should do the same thing.


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[Assistant] Spend some time on international events, read books, and keep ahead of what's happening. Catching up can waste a lot of time.


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[Assistant] Having some prescience can save you a lot of time.


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[Assistant] Keep your focus global and you may very well find yourself ahead of the game.


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[Assistant] Where others fail, there's your opportunity. A Wall Street Story.


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[Assistant] On occasion, I am asked what my favorite deals have been. I have a lot to choose from, but there is something about the acquisition of 40 Wall Street that will always stand apart.


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[Assistant] Not only because of the location, which is in the financial district of Manhattan, but because of an almost magical sense of timing, which made it seem like destiny.


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[Assistant] That does not mean it was an easy, simple feat to acquire it, because it wasn't.


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[Assistant] But I like to use this as an example to tell people about how difficulties and challenges can add another dimension to your life and a positive dimension at that.


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[Assistant] Even people who know very little about real estate can be duly impressed with that price. I'll tell you some background about how it came about because it's a great story.


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[Assistant] It will also illustrate the myth of so-called overnight successes.


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[Assistant] I had been watching this building for decades, and I knew a lot about it before making my move.


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[Assistant] In the 1960s and 1970s, 40 Wall Street was a fully occupied building, and it was indeed a hot property.


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[Assistant] However, in the early 1980s, it was bought by Ferdinand Marcos, the former dictator of the Philippines.


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[Assistant] Unfortunately, a revolution in the Philippines required his full attention, and the skyscraper at 40 Wall Street fell into decline. Dealings became chaotic.


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[Assistant] And soon, the whole thing was a mess. Marcos was out.


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[Assistant] Then, the Resnicks, a great real estate family, descended on 40 Wall Street.


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[Assistant] But after a long period of negotiation, it became clear that the Resnicks and their partner Citibank weren't going to make it, and 40 Wall Street would once again be back on the block.


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[Assistant] They were unfortunate to be dealing with one of the dumbest bankers I have ever known, Patricia Goldstein. But for me, this was good news.


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[Assistant] I wanted very much at this time to make my move, but this was the early 1990s and I was in no position to do so. The market was terrible.


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[Assistant] And in addition, my own financial woes were exactly that, woeful. I remember thinking that I'd love to acquire this building, but I thought it was one of those dreams that would never come true.


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[Assistant] This is a good lesson for those of you who have thought that way too.


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[Assistant] Shortly after I had just about given up on my dream, something happened.


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[Assistant] It was announced that the Kinsan Company, a group from Hong Kong, was buying 40 Wall Street. They made a great deal.


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[Assistant] After their purchase was complete, I called them and said I'd like to meet them about a possible partnership.


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[Assistant] As it turns out, they weren't interested in a partnership, but in making 40 Wall Street the downtown equivalent of Trump Tower with an atrium.


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[Assistant] What they would do with the steel columns that held up the 72 story building never seemed to enter their minds. I was truly astounded.


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[Assistant] But it also gave me some hope. They obviously didn't know what they were doing.


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[Assistant] How long could they continue to hold onto a building that dwarfed them in every conceivable way?


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[Assistant] The Kinson Group did prove to be relatively clueless about renovating, running, and leasing out a New York City skyscraper.


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[Assistant] To begin with, they weren't in the real estate business, they were in the apparel business.


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[Assistant] Kinson began pouring tens of millions of dollars into the building and getting absolutely nowhere. They had problems with tenants, contractors, suppliers, architects, even the owners of the land under the building, the Heinberg family. Eventually, they wanted out, and they called me. I was thrilled.


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[Assistant] Three years of dealing with a situation out of their depth had taken a toll on Kinson.


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[Assistant] It was now 1995, and the market still wasn't so good.


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[Assistant] Kinson had every reason to want to get out, and they wanted to do so quickly and quietly.


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[Assistant] I was in a great position due to their distress and the negotiations began, with me offering them 1 million in addition to assuming and negotiating their liens.


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[Assistant] I also made the deal subject to a restructured ground lease with the Heinberg family.


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[Assistant] They accepted my terms without question. They obviously just wanted out and fast.


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[Assistant] Sad as their story is, it's true to New York real estate. If you don't know what you're doing, you simply won't make it. That's another good lesson to remember.


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[Assistant] Always know what you're getting into. You have to do your due diligence, especially if it's a field that's new to you.


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[Assistant] The next thing I did was to call Walter Heinberg himself in Germany. Then I flew over to meet him.


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[Assistant] I got along very well with the Heinbergs, and they realized that after a string of losers who had owned the building, I had the integrity of their spectacular property first and foremost in my mind.


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[Assistant] They are a truly great family and they knew I loved the building that I would be doing everything possible to restore it to its inherent grandeur.


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[Assistant] We worked out a new lease for the land under the building, extending the term to over 200 years. And the agreement was modernized, which served everyone's best interest. However, keep this in mind. Getting to this point was a long time coming. It didn't happen overnight.


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[Assistant] I had been advised to turn it into a residential property by almost every person who had an educated opinion to give.


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[Assistant] However, I felt in my gut that I wanted to keep it as a great business address because Wall Street is a great business address. So I refused to budge.


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[Assistant] Time has shown that I made the right decision. It is a thriving and sought after building with many of the top notch businesses in the world operating within its walls.


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[Assistant] In addition, very soon after acquiring 40 Wall Street, the real estate market turned for the better, and the downtown area experienced a renaissance in both commercial and residential properties and developments. The timing could not possibly have been better.


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[Assistant] I'm not one for miracles, but this comes close.


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[Assistant] I make approximately 20 million a year in rentals from 40 Wall Street, and the building is now worth 500 million. Not bad for a 1 million dollar investment.


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[Assistant] So aside from owning the most beautiful building in lower Manhattan, I have the added attraction of making a profit.


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[Assistant] Have you been to the Trump building at 40 Wall Street? If you have, you know why I'm so proud. There is nothing like Wall Street, and there is nothing as beautiful as this building. Coach Trump. Make it happen in your life.


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[Assistant] Nothing is easy. Sometimes you just have to be stubborn as well as patient.


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[Assistant] Recognize opportunity. It always hides behind problems and ugliness and failure. Especially the failures of others.


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[Assistant] Every challenge or obstacle you come up against is simply an opportunity in disguise. Think big, think creatively, and you'll see it.


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[Assistant] And don't forget your gut instinct. It's there for a reason.


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[Assistant] If you've heard me speak, you may have noticed I emphasize several things repeatedly. Never give up is one, being passionate is another, keeping focused is up there, and keeping your momentum runs a close fourth. I've learned those things from experience.


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[Assistant] If you love what you're doing, it will never seem like work.


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[Assistant] 3. Be focused. Ask yourself, what should I be thinking about right now? Shut out interference. In this age of multitasking, this is a valuable technique to acquire. 4.


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[Assistant] The old saying, the harder I work, the luckier I get, is absolutely right on. 8. Believe in yourself. If you don't, no one else will either. Think of yourself as a one man army.


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[Assistant] There may be some great opportunities right around you, even if things aren't looking so great.


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[Assistant] And never give up. Never, never, never give up.


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[Assistant] This thought deserves to be said and remembered and applied many times. It's that important. Good luck.


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[Assistant] There are nuances and finely honed techniques and rules to be aware of. Here are a few of them. Know what you're doing.


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[Assistant] Sounds simple, but I've seen a lot of instances where I couldn't believe how much the other side didn't know.


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[Assistant] I immediately knew I could have a grand slam and fast, just based on their apparent lack of preparation.


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[Assistant] My father used to tell me, know everything you can about what you're doing.


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[Assistant] He was absolutely right, and I'm giving you the same advice. Follow it.


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[Assistant] Remember, it takes a lot of smarts to play dumb.


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[Assistant] This is a good way to see how much your negotiating partners don't know. It's also a good way to see if they are bulldozing you.


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[Assistant] What they don't know won't hurt you, and that may help you down the line. Knowledge is power, so keep as much of it to yourself as possible. Trust your instincts.


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[Assistant] There are a lot of situations that will not be black and white in negotiating. So go with your gut.


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[Assistant] Combine this with your homework and you'll be ahead of the game. Don't be confined by expectations.


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[Assistant] There are no exact rules, and sometimes I've changed course in the middle of negotiations when something new has occurred to me. Remain flexible and open to new ideas, even when you think you know exactly what you want.


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[Assistant] This attitude has provided me with opportunities that I would not have thought about before.


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[Assistant] This has become instinct for me by now, but I think we all know when that buzzer goes off inside. Pay attention to that signal. Be patient.


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[Assistant] I've waited for some deals for decades, and it was worth the wait. But make sure what you're waiting for is worth it to begin with.


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[Assistant] To speed up negotiations, be indifferent.


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[Assistant] That way, you'll find out if the other side is eager to proceed.


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[Assistant] Remember that in the best negotiations, everyone wins. This is the ideal situation to strive for.


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[Assistant] You will also be laying the groundwork for future business deals with people who know what integrity is.


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[Assistant] In summing up, I can say that negotiation is an art. All the arts require discipline, technique, and a dose of imagination to take them beyond the realm of the ordinary.


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[Assistant] Don't be an ordinary negotiator when you can be an extraordinary one.


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[Assistant] Devote time to this art, and it can bring you enormous rewards.


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[Assistant] Made it to the top 10 and it's a surreal feeling. It's great to be a part of it.


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[Assistant] I've got my colette stalks, pickling in gin and lemon juice, and I've got to get some almonds into the oven. I want to make an almond yogurt sauce, but at the moment I've really got to move it with this mint oil.


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[Assistant] It's definitely a chance to pull this one out and, uhm, show the judges that I mean business.


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[Assistant] Brendan, have you got any row left in that head? Oh, I've got another head, do you want it? Yeah, I cannot have that. I'll put it on your, on your bench.


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[Assistant] There's definitely enough flavor on the plate. I really think the king would eat this, yeaah, for sure.


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[Assistant] So, dish? Prawns poached in beurre blanc with a butternut bisque.


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[Assistant] Top 7. I never thought I'd get this far, but it just gives me such clarity and drive to keep going forward and to really take this food dream to the next level. Let's go time.


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[Assistant] This is my beautiful wife, Caitlin. You've spoken about her a lot, mate. She must mean the world to you. Yeah, she does. Great inspiration.


[User] Please transcribe this text

[Assistant] I'm really confident cooking with Morton Bay Bugs. I've got my broth started with some chillies, coriander root, and some lemongrass.


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[Assistant] With the tails, I'm gonna remove the meat and use the shells in the pan with the vegetables, just to get a nice colour and a bit more flavour through the broth. Are you happy with the flavour you're getting?