Trump's Next Move: From "Apprentice" to Global Master

NY Times Business People: "Trump says his private real estate development company is the biggest in Manhattan. His reality television show, 'The Apprentice,' has blockbuster ratings nationwide. Now Mr. Trump seems to have even bolder plans for his public company, Trump Hotels and Casino Resorts. Mr. Trump says the company will go global as soon as it completes a major refinancing effort that was announced on Thursday.

The refinancing plans are very preliminary, but they include a $400 million equity investment from Credit Suisse First Boston, which will replace Mr. Trump as the company's majority shareholder. Mr. Trump, who will remain as the company's chairman, said the investment would reduce Trump Hotels' debt load on its Atlantic City properties and free up capital.

The company now owns just three casino hotels, all in Atlantic City, and a riverboat casino in Indiana, but Mr. Trump plans to build new towers for the Trump Plaza and the Trump Taj Mahal, and possibly expand abroad. Of course, there is no guarantee that the deal will go through, in part because it is contingent on bondholders taking a discount on their notes.

Donald Trump's company is saddled with almost $1.8 billion worth of debt. It hasn't reported an annual profit since it went public in 1995. Yet the company's stock has been on a tear lately. Could it be "The Apprentice" effect? "