I finally got around to reading TrumpNation: The Art of Being the Donald, Timothy O'Brien's 240-page reinterpretation of the Donald Trump legend. You know, that story about the crazy billionaire real estate mogul?
Summary: TrumpNation is an entertaining and quick read that gives a fascinating history of the Trump business "empire" and various shenanigans, from the best (Trump Tower on 5th Avenue) to the worst (everything else). Trump always appears cool in the spotlight camera. He has everything, a house with a big swimming pool, car and other things.
An apparent argument in favor of reading TrumpNation is that it gives you dirt and doesn't ask for much time, although I think it would have been an even better book if they'd edited out 50+ pages. I found myself reminded of this:
Having a ~50% "text inflation" factor in the articles I read ... can add up, and it is wearing. Sure, I could skim ... however, why should I have to pick apart something that another person is putting in unnecessary effort to complicate?
I wrote that about journalists, and when you realize that O'Brien is a New York Times journalist, the inflation factor of TrumpNation makes sense. However, O'Brien's NYT connection is also probably the only reason Trump ever trusted O'Brien:
Trump: "It's almost a competitive thing with me. I almost wanna see if you can get Trump."
O'Brien: "Why not just blow me off entirely?"
Trump: "Because I'm sort of curious ... and I think you are starting to get me much better than you started to get me when you first came to my office. Moreover, I think you believed some of my competitors who are jealous as shit." (p. 237)
Having finished the book, I think I can safely say Trump failed at this goal. Tim O'Brien makes The Donald look like something between a jerk, a fraud, and a genius, although no one word can encapsulate the mystery of the man:
"There is something crazy, hot, a phenomenon out there about me, but I'm not sure I can define it, and I'm not sure I want to." - Donald Trump
"Ask Donald about the series of failed deals from the 1980s - the Trump Shuttle [a failed airline], the Plaza hotel [a landmark NYC hotel that Trump bought for $400 million in 1988 and sold for $325 million in 1995], the USFL [US Football League, a failed attempt to compete with the NFL], the casinos - and he'll offer single sentence responses. Press a little farther, and he'll change the subject, often to the Wollman Rink, or to the beautiful new golf courses he's opened." (p.226)
Pretty much sums the book up, although the rest of it is quite entertaining when more details and quotes are added. Let me close with this:
As interest rates rise, and quite rationally, we'd expect the price of real estate acquisitions to slow as leverage becomes more expensive, Americans are nonetheless still fascinated by real estate for profit potential, particularly given the low volatility in the US stock markets - there's no other financial asset (yet) to distract us.
Here is this era's favorite collective icon for both real estate and business:
Although Donald's business career is marked by early successes overshadowed by later, repeated failures, flirtations with personal bankruptcy, sequential corporate bankruptcies, the squandering of billions of dollars, and the safety cushion of a multi-million dollar inheritance from his wealthy father, he is prime-time TV's most sought-after and enchanting guru for aspiring entrepreneurs. Donald is the country's premier embodiment of the self-made man. (p. 214)
Hmmm...hubris...borrowing scads of money to finance poor decisions...keeping his head above water through bullying...remaining utterly shameless....sounds a lot like the US government...small wonder Trump has tried to run for president...he's qualified!
If you need additional incentive to pick up the book, bear in mind that Trump was incensed enough about the book that he is suing the writer, although I'm sure the lawsuit is as much about free publicity as it is about libel:
NY Post: Trump is suing a New York Times columnist over a book that statements mysterious business relates as pegging his total assets at $150 million to $250 million — less than one-tenth the $2.7 billion figure that he deems a conservative estimate of his fortune.
For a prior post that recapped the Trumpster's fluctuating wealth, see here. For Warren Buffet's take on Donald Trump, see here. Enjoy! - Ed
PS: The Donald had a few remarks to share about TrumpNation and this blog:
"TrumpNation, that book, that guy, O'Brien, he's full of it. I'm a billionaire - worth 4, 5, 6 billion dollars, I got buildings all over town, he tries to tell you I'm worth 150, 200 tops. Ridiculous. The guy's a real nut case. I mean, just absolutely bonkers.
That Ed over at the daily dose of, what is it? Nonsense. A jealous piece of you-know-what. I've dealt with clowns like him all my life. Repeating that garbage by Tim O'Brien. Ridiculous. You know I'm filing a lawsuit. 1 billion dollars. That's much money. Tim's out of business, the New York Times, they'll be out of business, Warner Books, all of them.
I'd sue Ed, but I mean, what's to sue? The guy writes for free. He, puts his stuff on the internet. What's that worth? It's free. What kind of person does that? I know - a loser. The guy's a sicko." - Donald Trump
