Did you know that in 1989, American’s CEO, Bob Crandall, had to make a public statement declaring that the airline wouldn’t negotiate or pay ransom to Trump in order to fend off a takeover?
According to a CNN investigation, Trump was heavily involved with “greenmailing” in the late 1980’s. It was a legal practice at the time that some referred to as a corporate ransom payment. An investor would quietly buy a large amount of a company’s stock and then threaten a takeover. Companies would pay a “ransom” to get the investor to simply walk away. In the case of Trump and American, he faxed his threat to AA!
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