1. It seemed clear that he needed an experienced operator. He figured it probably had to be one of the large chains, Even though the chains may not be very exciting but they do give him access to a national reservations system, good referral business, and basic management expertise.
2.
He thought their hotels had a modern look, light and clean and little glossy and that was what he had in mind architecturally for the Commodore.
In addition, Hyatt was very strong on conventions, which in Trump's thought could be a big business for a hotel in the Grand Central
3.
Chains like Hilton and Sheraton already had hotels in New York City, and they weren’t necessarily hungry to build new ones, particularly with the city in the dumps. Hyatt, on the other hand, was very successful in other cities but still had no flagship presence in New York City, and he’d heard they wanted one very badly
4.
I didn’t go around in limousines [ˈlɪməˌzinz] ， 豪华轿车。 at the time, so I picked him up in my own car. Unfortunately it was a very hot day, and it was extremely uncomfortable in the car. If it bothered Jay, though, he didn’t show it. I realized right then that Jay is very focused when it comes to business. He can be fun-loving when he’s relaxed, but mostly he’s tough and sharp, and he plays very close to the vest. Fortunately I had no problem with that, so we got along pretty well. The other thing about Jay is that he doesn’t much trust people in business, which is the way I tend to be. We were wary（小心谨慎） of each other, but I think
there was also a mutual respect from the start.
5.On May 4, 1975, we called a joint press conference and
announced that we’d agreed, as partners, to purchase, gut, and fully renovate the Commodore— assuming we could get financing and tax abatement
6.I would talk about the great Trump Organization and all we had done. I would push very hard the fact that we built on time and on budget,
We would show these bankers drawings and scale models of this huge gleaming new hotel I planned to build. We would talk about how the job was going to turn the neighborhood around, how it would create thousands of jobs. We would go on and on about the fantastic, incomparable Hyatt
Company,
7.Realizing that the positive approach wasn’t working, we tried to play to their guilt and their fear and their sense of moral
obligation. Forget us, we’d say; you owe it to New York. The city is in trouble, but it’s still a great city, and it’s our city, and if you don’t believe in it, if you won’t invest in it, how can you expect it to turn around? If you lend millions of dollars to Third World countries and suburban-shopping-mall magnates, don’t you also owe some obligation to your own city?
8. These walls are kind of funny like that. First you hate them, then you get used to them. Enough time passed, get so you depend on them. That's institutionalized.9.
To him it’s purely a job, and all he wants to do is go home at five and forget about it.
You’re better off dealing with a total killer with real passion. When he says no, sometimes you can talk him out of it. You and you rave, and he rants and raves back, and you end up making a deal. But when a machine says no, it’s very tough.
10.
the Business Investment Incentive Policy, which the city adopted in early 1975. It was designed, in a bad market, to encourage commercial development by providing tax
abatements to developers.
11
I almost couldn’t afford to walk away from the deal if I wanted to
maintain any credibility.
121 . The Commodore was losing money and deteriorating fast
Commodore 在亏钱，而且情况恶化很快
The Grand Central neighborhood was turning into a slum.
这带动着这个中心区 逐渐编程贫民窟一样，
The Hyatt hotel chain was ready to come to New York, but there was no way we could afford to put up millions to build a new hotel unless the city gave me some relief on property taxes.
13.
The city’s economic development people agreed to structure a
program in which we’d effectively be partners. The city would give me a total abatement of property taxes for forty years. In return, I would pay the city a yearly fee, and a share of any profits the hotel made.
14.
The mechanism was fairly complicated. First, I would buy the Commodore from the Penn Central for $10 million, $6 million of which would immediately go to the city to pay off the back taxes. Then I would sell the hotel to the city for one dollar and they would lease it back to me for ninety-nine years. My rent, paid in lieu of all property taxes, would begin at
$250,000 a year and rise by the fortieth year to $2.7 million. Also, I would pay the city a percentage of the profits. At the end, I’d be paying the equivalent of full property taxes based on the hotel’s assessed value as of the time we were making our deal.
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