Business leaders have warned that Donald Trump will be bad for the American economy if he becomes president in a new letter released today. A dozen big-name business executives are urging voters to vote for Hillary Clinton in the upcoming presidential election.
The letter was given to The Associated Press and released on the group's new website today. Among the business leaders who wrote the letter are lifelong republicans and independents, all stating that he would be bad for American business as a president and also question how successful he's been as a businessman in the past.
"For sustained investment, economic growth and job creation, American business needs as much predictability, reliability and stability in our government as possible.The letter released by the business leaders comes just after a different open letter was released by more than 30 former GOP members of Congress condemning the Republican presidential nominee as "disgraceful."The latest letter has signatures by Wikipedia founder Jimmy Wales, famed chef Jose Andres, and former U.S. secretary of commerce under President George W. Bush and the former CEO of the Kellogg Company Carlos Gutierrez. Andres is currently butting heads with Trump over his decision to pull his planned restaurant out of Trump's new hotel at the Old Post Office in Washington.Former Republican Pennsylvania state senator and founder of the Pittsburgh Penguins National Hockey League team, jack McGregor said he hopes the effort put forth by this letter will help to convince undecided voters to choose Democrat Hillary Clinton.
"Donald Trump is simply too reckless for American business."
"I believe we can reach thinking Republicans like the ones I served with in Pennsylvania,"The group of business leaders came together after John Stubbs, who has been organizing Republicans who back Clinton, realized that business leaders have particular concerns about Trump becoming president. As a businessman himself, Trump has quite a few business leaders in his corner. Some of his high profile supporters include financial investor Carl Icahn, financier T. Boone Pickens, and PayPal co-founder Peter Thiel. The anti-Trump letter makes claims that Donald Trump has not been strategically successful in his career in real estate over the decades. They also state that Trump is offensive and dangerously erratic.
"Trump's harmful rhetoric regarding immigrants, women, racial and religious minorities, the disabled and American veterans is not only unacceptable, it creates an atmosphere of vulgarity that poisons the climate, as does his general approach to business and many of his economic ideas.Recently, The New York Times obtained copies of Donald Trump's 1995 state income tax filings that showed the real estate mogul took a net loss of $915,729,293 in federal taxable income for the year.
"And how do you lose nearly a billion dollars in a single year?"
The letter released by the business leaders today did not leave out Trump's six business bankruptcies, thousands of lawsuits, and evidence of Trump failing to pay subcontractors over and over, to prove that he is not a smart or successful businessman.
Bill Cummings, founder of a successful Boston-based commercial real estate company, also signed the letter released today.
"This approach is anathema to Democrats and Republicans alike."Sara Sutton Fell, Colorado-based business founder of the employment search firm FlexJobs, said she would not be able to sleep at night if she ran her company the way that Trump ran his.
"The fact that he's running on his business skills is terrifying."Last week, New York Attorney General Eric Schneiderman sent a letter to the Donald J. Trump Foundation, instructing that its fundraising was in violation of the law and that it must stop immediately. The Washington Post reported that the Trump foundation did not have the requisite permission and oversight to raise more than $25,000.
The Donald J. Trump Foundation has illegally brought in millions of dollars in donations over the years.
[Featured Image by Spencer Platt/Staff/Getty Images]