Saturday, April 09, 2011
No Good Can Come of This
According to the Los Angeles Times: Donald Trump has bought a Virginia vineyard at a foreclosure auction and wants to produce wines.
Media outlets report that representatives for Trump bought the winery and...are in talks with former owners...about running the operation.
Kluge Estate Winery and Vineyards in Charlottesville was put up for sale by a creditor bank. Preliminary estimates indicate the property sold for less than $7.5 million before fees. It was estimated to be worth more than $70 million before the recession.
Trump also successfully bid on the winery's trademarks and labels--thus insuring that ruthless speculators and counterfeiters not infringe on the valuable Kluge name.
