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Friday, October 2, 2020

Donald Trump, CEO (spectacular failure)

Click here for an article in The Washington Post by Drew Harwell entitled "As its stock collapsed, Trump's firm gave him huge bonuses and paid for his jet."

Although Trump's empire has always been mostly family-owned and private, Trump was CEO of one publicly traded company, from 1995 to 2009 -- Trump Hotels and Casino Resorts. The operations of that company are a matter of record, not veiled the way privately owned companies are. 

Surprise, surprise -- his performance as a CEO, responsible to shareholders and a board of directors, was terrible, but he, personally, did great. He made tens of millions of dollars as the share price, $14 on opening, initially rose to $35 -- and then dropped to a low of 17 cents.

It was a gigantic fraud, as Trump looted the company after sucking in hundreds of millions of dollars from naive investors who believed in the Trump brand.

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