On Labor Day weekend in 1990, as Donald Trump faced the worst crisis of his career, he and Wilbur Ross Jr. headed to Atlantic City, N.J., for talks at Mr. Trumps opulent Taj Mahal casino, which had just opened but was already on the verge of missing a bond payment.
Mr. Ross, as an expert on distressed assets, represented bondholders. Mr. Trump brought him to the seaside town for talks, in a helicopter bearing the name Trump in giant red letters.
The bondholders were obviously quite angry, Mr. Ross says. Their initial inclination was to throw the rascal out.
The chopper landed on a helipad near the boardwalk. Instantly…
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