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The Honolulu Advertiser
Posted on: Tuesday, May 19, 2009

BUSINESS BRIEFS
Trump sues writer who states his worth is in mere millions


Associated Press

Hawaii news photo - The Honolulu Advertiser

Donald Trump

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CAMDEN, N.J. — Donald Trump is known for putting a positive spin even on news that doesn't seem positive. But there is one way to get him down: Call him a millionaire.

Trump, who says he's a billionaire, is suing the author of a book in which three unnamed sources said Trump's net worth is between $150 million and $250 million. The Donald claims it was malicious, and it hurt his business.

A judge said yesterday that she would rule within two months on whether the real estate mogul's lawsuit against writer Timothy L. O'Brien should be dismissed before it gets a chance to go to trial.

Neither man was in Superior Court in Camden for a hearing on the matter yesterday.

2 BANKS ASK TO REPAY $20B OF FEDERAL BAILOUT MONEY

NEW YORK — Goldman Sachs and Morgan Stanley have formally asked the Federal Reserve for permission to repay a combined $20 billion in federal bailout money.

The requests are pending, and no decision has been made on whether the investment banks will get approval to repay the money and sever ties with the Troubled Asset Relief Program, according to two people familiar with the matter.

They spoke on condition of anonymity because the banks' discussions with the Fed are ongoing.

Goldman Sachs, Morgan Stanley and JPMorgan Chase & Co. have said for weeks that they want to repay their share of the $700 billion government bailout so they can operate free of federal limits on executive pay and other restrictions

HOME-IMPROVEMENT STORE BEATS WALL STREET FORECASTS

CHICAGO — Lowe's Cos. Inc. said shoppers buying paints, plants and replacement parts in the first quarter helped the home-improvement chain beat Wall Street forecasts and spurred it to boost its full-year outlook.

The results sent the company's shares higher yesterday.

"In recent weeks we have seen consumer confidence improve, housing turnover show signs of a bottom in certain markets, and home prices slow their decline," Chairman and Chief Executive Robert Niblock said.