From the Central Valley Business Times comes a story about Donald Trump bailing out some bankrupt Valley developers:
The bankrupt Running Horse high-end housing development near Fresno is being purchased by New York City real estate mogul Donald Trump, according to media reports. Purchase price is $40 million for the 420-acre project.
The 780-home housing development is planned around a golf course designed by golfing legend Jack Nicklaus and his son Jack II. Just two holes of the course have been put in so far and no homes have been built.
Repeated efforts to sell the development and golf course had failed and earlier this month it was reported that Mr. Trump had walked away from the deal, too.
But Mr. Trump’s offer Wednesday could be trumped: It needs approval of the federal bankruptcy court that oversees the project since bankruptcy was filed in April.