Today is a sad day for Atlantic City. Despite our best efforts, which included losing almost $350 million over just a few short years, we were unable to save the Taj Mahal.
This is a classic example of activists working constructively with an existing Board and management.
In an effort to reach peace with UNITE HERE Local 54, on June 30th the Taj agreed to present a proposal that Local 54 President Bob McDevitt outlined and advised us should be supported by the union.
I have always believed in Herbalife’s strong fundamentals and am pleased the Board has decided to increase my ownership limit from 25% to 34.99% of the Company’s outstanding shares.
Bernie Sanders has received support from the UniteHere union and has made several remarks tying me to the difficulties facing Atlantic City -- without even bothering to give me a call to hear my views and the real facts. So, here are the facts: