Very interesting, but not surprising given Trump's plan to destroy the American economy with a 10% tax on all imports.
If you want the most telling data point on corporate America’s lack of enthusiasm for Mr. Trump, look where they are investing their money. Not a single Fortune 100 chief executive has donated to the candidate so far this year, which indicates a major break from overwhelming business and executive support for Republican presidential candidates dating back over a century, to the days of Taft and stretching through Coolidge and the Bushes, all of whom had dozens of major company heads donating to their campaigns.
The MAGA die-hard voices that have Mr. Trump’s ear often have more in common with the far left than with the traditional Republican Party. Mr. Trump and his team are doubling down on some of his most anti-business instincts, including proposing draconian 10 percent tariffs on all imports; unorthodox monetary and fiscal policies, including stripping the Federal Reserve Board of its independence; possibly putting in place yield curve control to force interest rates lower; and devaluing the dollar — all of which would drive inflation much higher. These Trump positions have more in common with Karl Marx than Adam Smith.
With two or three prominent exceptions, most business voices now hanging around the hoop would normally be in the minor leagues of Republican business supporters. The party must long for the days of President Dwight Eisenhower, when there were so many business leaders in support and fully 60 percent of his cabinet were chief executives.
As such, it was hardly surprising that just as when Mr. Trump faced a chilly reaction from hundreds of top executives when he spoke at my Yale Chief Executive summit in 2005, he appeared to face a similarly frigid reception when he spoke to the Business Roundtable this month, with no noticeable applause at any point during his “remarkably meandering” remarks, according to CNBC’s Andrew Ross Sorkin, and with Mr. Trump assuming a subdued, if not hostile, posture. Chief executives are not protectionist, isolationist or xenophobic, and they believe in investing where there is the rule of law, not the law of rulers.
That there are more Fortune 100 chief executives based in the smallest state in the nation, Rhode Island — and there’s exactly one Fortune 100 chief executive who is based there — than currently support Mr. Trump tells you how truly isolated the Republican presidential candidate is from the halls of big business.
If you want the most telling data point on corporate America’s lack of enthusiasm for Mr. Trump, look where they are investing their money. Not a single Fortune 100 chief executive has donated to the candidate so far this year, which indicates a major break from overwhelming business and executive support for Republican presidential candidates dating back over a century, to the days of Taft and stretching through Coolidge and the Bushes, all of whom had dozens of major company heads donating to their campaigns.
The MAGA die-hard voices that have Mr. Trump’s ear often have more in common with the far left than with the traditional Republican Party. Mr. Trump and his team are doubling down on some of his most anti-business instincts, including proposing draconian 10 percent tariffs on all imports; unorthodox monetary and fiscal policies, including stripping the Federal Reserve Board of its independence; possibly putting in place yield curve control to force interest rates lower; and devaluing the dollar — all of which would drive inflation much higher. These Trump positions have more in common with Karl Marx than Adam Smith.
With two or three prominent exceptions, most business voices now hanging around the hoop would normally be in the minor leagues of Republican business supporters. The party must long for the days of President Dwight Eisenhower, when there were so many business leaders in support and fully 60 percent of his cabinet were chief executives.
As such, it was hardly surprising that just as when Mr. Trump faced a chilly reaction from hundreds of top executives when he spoke at my Yale Chief Executive summit in 2005, he appeared to face a similarly frigid reception when he spoke to the Business Roundtable this month, with no noticeable applause at any point during his “remarkably meandering” remarks, according to CNBC’s Andrew Ross Sorkin, and with Mr. Trump assuming a subdued, if not hostile, posture. Chief executives are not protectionist, isolationist or xenophobic, and they believe in investing where there is the rule of law, not the law of rulers.
That there are more Fortune 100 chief executives based in the smallest state in the nation, Rhode Island — and there’s exactly one Fortune 100 chief executive who is based there — than currently support Mr. Trump tells you how truly isolated the Republican presidential candidate is from the halls of big business.
