Is Donald Trump a Good CEO?

FAREED ZAKARIA in the Washington Post: "At the heart of Donald Trump’s appeal is his fame as a successful businessman. It’s why most of his supporters don’t worry about his political views or his crude rhetoric and behavior. He’s a great chief executive and will get things done. No one believes this more than Trump himself, who argues that his prowess in the commercial world amply prepares him for the presidency. 'In fact I think in many ways building a great business is actually harder,' he told GQ last year."

AARON BANDLER, The Daily Wire: "Real estate mogul Donald Trump and his supporters tout Trump's business acumen as a reason why he should be president. However, a thorough examination of Trump's business record shows that a lot of what he did in fact failed. And failed badly. Here is a list of his failed enterprises."

JOHN TAMNY in Forbes: "Up front, it should be said that this column is not a defense of Trump the politician. As past columns going back years have made plain, Trump’s alleged policy positions whereby he would pursue very large tariffs on Chinese goods are more dangerous – and it’s really not even close – than any policy broached by our last two failed presidents, George W. Bush and Barack Obama. And then if we ignore what a southern wall would mean in terms of government growth, Trump’s ideas on immigration would, if possible, be even less successful than the ill-fated “drug” war. Still, the various criticisms of Trump’s wealth are once again wrongheaded."

SHAWN TULLY and ROGER PARLOFF, in Fortune magazine: "[T]he best way to assess how Trump will handle the job of President is to look beyond the daily campaign craziness and closely examine the business career he’s using as his résumé. As the leader of the Free World, how would he lead?"

"Trump’s mercurial, polarizing and contradictory temperament has obviously roiled this year’s presidential race. He equates himself with class and luxury, while slamming opponents with crude and bawdy putdowns. He orchestrates vast amounts of media coverage, while using it to alienate more people than he inspires. And the five-star reputation he cultivates for his real-estate empire is marred largely by Trump’s own failings and diversions into tawdry ventures he would have been better off avoiding."

"Amid all the self-made myths about Donald Trump, none is more fantastic than Trump the moneymaker, the New York tycoon who has enjoyed a remarkably successful business career. In reality, Mr. Trump was a walking disaster as a businessman for much of his life. "

"Donald Trump’s business career has been a veritable rollercoaster ride of his own making—as with most Trump-ian pursuits.... A look at Trump’s biggest successes and failures in business."

"Donald Trump promised to 'take the brand of the United States and make it great again' when he threw his hat into a crowded ring of 2016 GOP presidential candidates. Trump has since consistently cited his credentials as businessman, as well as his (disputed) $10 billion fortune, when asked how, exactly, he would 'Make America Great Again.' But it’s not just Trump’s immigration comments that are landing him in hot water

"Lost contracts, bankruptcies, defaults, deceptions and indifference to investors – Trump’s business career is a long, long list of such troubles, according to regulatory, corporate and court records, as well as sworn testimony and government investigative reports. Call it the art of the bad deal, one created by the arrogance and recklessness of a businessman whose main talent is self-promotion."

"Trump has not done nearly as well as other American business magnates, or even a typical middle-class retiree following sound financial advice, as a review of the numbers over the past four decades shows. He is a billionaire today despite this poor performance because when he started his career, his father had already built a colossal real-estate empire. And the wealth Donald Trump has accumulated since then has at times come at the expense of taxpayers or the banks and investors who have lent him money."

"Is Donald Trump really the super-awesome business executive armed with the leadership, management and talent-spotting skills up the wazoo that he so often claims? Or is he someone who overlooks intelligence, thoughtfulness, leadership skills, guts, commitment to principle, capacity to work with others, knowledge of markets, policy and laws, and relevant job experience in potential hires and who, as you might expect of such a person, is actually a much more mediocre businessman than he lets on?"

"Despite a national reputation as a New York property mogul, Trump doesn’t make it into top 10 lists of the city’s real estate players. While his dealings in hotels and golf courses around the world appear to be success — his companies are privately held, so details are scarce — forays into casinos, airlines, professional football and other industries have ended badly."

"From the beginning of his unlikely quest for the 2016 Republican presidential nomination, Donald Trump has enjoyed the strong backing of those GOP voters who say they want a successful businessman in the White House. After only his outsider status, Gallup polling showed earlier this year, backers of the real estate mogul turned reality TV star cited his record as a 'good businessman' as the leading factor driving their support. "

"Born into a wealthy family, Donald Trump made a few successful real estate investments in the Manhattan market in the 1980s before transitioning to self-marketing in the 1990s. He bought beauty pageants, football teams, television shows and fashion lines and with every investment, 'The Donald' infused his brand: brash, boisterous, unapologetic and always entertaining..."

"Of course, all leaders of large and important organizations have some skills in common: they need to be intelligent, knowledgeable about the relevant issues, able to manage a staff and able to communicate effectively to people inside and outside their organization. But the job of U.S. president differs in some important ways from the job of CEO. Because of that, presidents face challenges that CEOs cannot imagine."

"If a year ago someone told me I would be an advocate of Donald Trump, I would have laughed, because everyone knew he was a joke with a toupee. But on August 27, 2015, at a rally in Greenville, South Carolina, when Mary Margaret Bannister pulled his hair, we learned he does not wear a wig. And in researching my upcoming book, "Trump The Press," I learned he is no joke. He has developed the leadership skills needed to lead the free world."

As owner of a vast business empire but one that is privately held, Trump holds his cards much closer to his vest than a typical CEO—especially of a publicly held company—can do. “As a transparent CEO, you must act with good behavior because everyone else can see what you do, and the decisions you’re making,” said Dennis Zeleny, a consultant on leadership and human-resources management who has headed HR for major companies including Sunoco and Caremark CVS. “Donald Trump doesn’t have the transparent, server-CEO mentality that you get from running a public company, and he can just decide and not explain his actions. He can make decisions that are totally self-serving, such as his use of bankruptcy—where all the money that he owes other people he’s getting out of paying. He’s just used to taking care of himself.”

"Lost contracts, bankruptcies, defaults, deceptions and indifference to investors—Trump’s business career is a long, long list of such troubles, according to regulatory, corporate and court records, as well as sworn testimony and government investigative reports. Call it the art of the bad deal, one created by the arrogance and recklessness of a businessman whose main talent is self-promotion.... He is also pretty good at self-deception, and plain old deception. Trump is willing to claim success even when it is not there, according to his own statements. “I’m just telling you, you wouldn’t say that you're failing,” he said in a 2007 deposition when asked to explain why he would give an upbeat assessment of his business even if it was in trouble. “If somebody said, ‘How you doing?’ you're going to say you're doing good.” Perhaps such dissembling is fine in polite cocktail party conversation, but in the business world it’s called lying."