Donald Trump To Buy Ed McMahon's House

BEVERLY HILLS, Calif. — Donald Trump will soon be Ed McMahon's landlord. Trump announced Thursday he would save the television personality's Beverly Hills mansion from foreclosure by buying it for an undisclosed amount and leasing it to McMahon.

The developer told the Los Angeles Times he doesn't know McMahon personally, but acted out of compassion because helping out "would be an honor."

McMahon, 85, who was Johnny Carson's sidekick on the "Tonight" show for three decades, has not worked for about 18 months because of a neck injury. He defaulted on $4.8 million in mortgage loans with Countrywide Financial Corp.

McMahon's spokesman, Howard Bragman, told The Associated Press that paperwork on the sale had not been completed but that McMahon was "very optimistic" the deal would go through.

"When I was at the Wharton School of Business I'd watch him every night," Trump told the Times. "How could this happen?"

McMahon bought the six-bedroom, five-bathroom, 7,000-square-foot house in January 1990. The home was listed at $4.6 million last weekend _ down from a peak price of $7 million.

Comments

[mlaiuppa]

How is MacMahon going to pay rent? He's broke and being sued.

[Theda]

Ed isn't "old and broke," despite his out of control spending.
He gets pensions from AFTRA and SAG totaling about $400,000 a year.
I'd like to be that "broke."

[Theda]

It would have been nice if Donald Trump gave a $4.6 million donation to L.A. Children's Hospital instead!
Those praising Trump have their priorities twisted. As for McMahon, he owes huge amounts of money all over town (Beverly Hills).....$300,000 here, $275,000 there. Is Trump going to pay ALL of McMahon's debts?
McMahon was complaining that he doesn't have health insurance. That's bullshit. Being on TV for over 50 years qualified him for AFTRA health insurance for the rest of his life.

[Triangle1]

This is a good publicity stunt. I wonder what Rosie has to say about it? I thought this economy was cutting into the Donald's bottom line. So he can still throw around a couple million dollars and not even flinch? http://mespace.wordpress.com

[ObiW]

First, get a new wife . . . that has a job or her own profitable business!!
I can't believe she's spending thousands while she & Ed become homeless.
As for Trump buying Ed's house, I'll believe it when the papers are signed, sealed & delivered!

[zakwouldhave]

Yes! You are correct sir!

[InformedSources]

Word of the day: Publicity Stunt.

[RobertAndropolis]

Words for the ages: empathy & compassion. Try it instead of predictably falling back on cynicism.

[smags72]

Oh, please. Do you SERIOUSLY think Donald did this out of empathy or compassion?? One word: PROFIT!

[lincat]

How is it a publicity stunt?

[luckyoldson]

And now...how about a new accounting firm to manage Ed's $$$$$$$$$$$$$?

[luckyoldson]

It's hard to dispute.

A nice gesture.

[jukesgrrl]

And I'm sure it didn't hurt that the current asking price is nearly half of what it once was.

[aklib]

Donald Trump is a very smart man...maybe a genius when it comes to investing in Real Estate. He knows a good deal when he sees it...plus the added bonus of a public relations bonanza was too much for him to resist. Yes, The Donald is completely full of himself and a shameless self-promoter, but I give him credit. He is a smart businessman.

[queensboro]

nice gesture of course a drop in the bucket for dt i suppose, of course more pub for THE DONALD doesn't hurt i'm sure. no saint hood yet dude, i'm sure there will be more people out there who will feel the wrath of dt. i once heard dustin hoffman say that sir lawrence olivier told him the reason most people are actors or entertainers is because they have this crazy desire to say, "look at me, look at me, look at me, look at me, look at me, look at me. can anyone see dt in there?

[RGKahn]

I am not one of the Donald's fans, but I have to say that this is very nice of the man. Ed McMahon is a retired Marine, I believe he retired as a Lieutenant Colonel around the end of the Korean war.

[Melissa]

I've always liked Ed and it is nice of Trump to buy his house, but, I sure do not feel sorry for him. He made millions through the years and just blew it.

[Buddysingh]

Donald Trump - I always thought of you as the hard bargainer no compassion fellow but you never cease to surprise folks. Thank for your gesture. Ed Macmahon is having a bad run of luck and all of us have this once in a while. Mine has been going wrong since 2000. Bless you.

[heal57]

Dear Donald Trump,
Thank you for your act of kindness. It means a lot to me that you have done this.

[a4audi08]

i just can't get over trump's hair.

[Reaganwater]

Three words for Donald Trump : THANK YOU SIR ! ........and for all the Twilight Struggle Class-Warrior types, who at this very minute , are thinking (to the extent they are able) of ways to lambaste you for your gesture .........
Six words : GET A LOAN , BUY A LIFE !

[TurgidCaterwauling]

As posters speculated here weeks ago, someone would come to Ed's rescue. Small comfort for those who didn't blow through millions and yet have lost everything. Of course the lesson here is fame loves fame, and money loves money. Trump looks so much more magnanimous buying a multi-million dollar home in Beverly Hills for an aging pitchman rather than saving a double-wide going into foreclosure in Podunk. My guess is the money it took to bale out Ed could have saved dozens of lesser homes.

[smags72]

Ah yes, but see, there is no profit in saving lesser homes. THAT is the bottom line.