As Trump Media goes public, Nordstrom attempts to go private
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 25 March 2024
⏱️ 7 minutes
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Summary
Today’s the deadline for former President Donald Trump to come up with more than $450 million in cash or bond to cover New York State’s civil fraud judgement against him. He could get a quick hit of cash as Truth Social’s parent company goes public with the help of a merger with something called a SPAC. Meanwhile, Nordstrom is making another attempt to remove itself from public trading and go back to being a private company. The retailer tried and failed to make a similar move back in 2018.
Transcript
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| 0:00.0 | Moment of Truth, Social, for former President Donald Trump, from Marketplace. |
| 0:07.0 | I'm Sabrie Beneshore and for David Brancaccio. |
| 0:09.0 | Today is the deadline for former President Donald Trump to come up with more than 450 |
| 0:13.9 | million dollars in cash or bond to cover New York State's civil fraud judgment |
| 0:18.2 | against him. The state attorney general Latisha James could seize |
| 0:22.3 | Trump's assets if he fails to come up with the money. |
| 0:24.8 | His attorneys have said efforts to secure a bond so far have failed. |
| 0:28.2 | Marketplace's Nova Safo has more. |
| 0:30.0 | The former president was given a 30-day grace period to come up with a bond or cash to pay the judgment against him. |
| 0:36.4 | It was imposed last month for lying about the worth of his assets, defrauding banks and insurance companies in New York State. |
| 0:43.6 | If Trump fails, technically New York Attorney General Letitia James could begin seizing |
| 0:47.6 | his real estate holdings and freezing bank accounts. |
| 0:50.9 | That includes Trump Tower in New York City and a vast estate in |
| 0:54.4 | Westchester County, north of Manhattan. |
| 0:57.0 | Trump has appealed to a higher state court asking it to accept a smaller bond of |
| 1:01.0 | $100 million. |
| 1:02.8 | That decision is pending, and James might wait for the outcome before taking action. |
| 1:07.1 | The former President's lawyer said in court filings that quickly coming up with more than $450 million was a practical impossibility. |
| 1:14.8 | But the former president himself undermined that claim on Friday, saying on Truth Social |
| 1:18.9 | that he had access to nearly $500 million in cash, and he could soon gain a 3 billion dollar |
| 1:24.7 | windfall as the company that operates truth social begins trading on the |
| 1:28.0 | NASDAQ exchange. I'm Novisafa for marketplace. |
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