Business Notes

Donald Trump showed his bankers last week that he can still play a mean game of chicken. The embattled developer disclosed that he failed to pay at least $30 million that was due Friday on bonds issued by his Trump Castle casino in Atlantic City. His missed payment could lead to default, which in turn could push all or part of Trump's holdings into bankruptcy. He knows his bankers want to avoid that, since it could leave them with a lot of hard-to-sell real estate in New York and New Jersey.

Trump, who has a ten-day grace period to make his bond payment, may be trying to increase the pressure on his bankers in their negotiations to restructure his $2 billion debt load. Four major New York City banks have already agreed on a proposal that would extend him an additional $60 million to meet payment deadlines. But some of the smaller New Jersey banks reportedly balked at the terms because they felt they were taking on too much risk under the new arrangement.