trump university

Trump University: Styles of Leadership

2008-07-28T07:34:00.000-07:00

I think the candidates on last season's The Apprentice were the best we have had so far. They were intelligent and resourceful, and most of them possessed strong leadership skills.

It's always interesting to watch people who have been incredibly successful in their own businesses work in a group made up of equally strong personalities. It takes a special kind of leader who can effectively manage a team of veritable strangers and find the best way to get strong, winning performances from them.

Obviously, not everyone can do it. Some people have leadership styles that make strong personalities bristle. Others are stellar when they are in command of loyal, obedient troops, but fall apart when anyone questions their decisions or doubts their authority.

Just because they lost in The Apprentice boardroom, doesn't mean those personality types are failures. In real life, the business world needs all kinds of leaders. If you're in a leadership position now or have your sights set on one, it's important for you to figure out what your strengths and weaknesses are, then assess where to go from there. Take some time to sit down and try to review your personal strengths and weaknesses. I think you'll find it's a very eye-opening exercise.

Donald J. Trump is Chairman of Trump University

Trump University: Elton John's Wedding

2008-07-28T07:30:00.000-07:00

There's a lot to celebrate this holiday season. Elton John married his long-time partner David Furnish on December 21. That's the first day that civil partnerships between gay couples became legal in England under the new Civil Partnership Act.

Elton credits David with helping him kick drug and alcohol addictions that nearly killed him. The pair has been together for 12 years. I know both of them and they get along wonderfully. It's a marriage that's going to work.

Elton made the ceremony a small private affair involving only his and David's parents as witnesses. The couple just didn't want to make a big deal out of the wedding. They really wanted to keep things low key.

By all accounts, Elton and David had every tabloid and every entertainment magazine knocking at their door begging for exclusive rights to the affair. By some news reports, the couple turned down an offer of $11 million to record their wedding for British television. But Elton said, Our relationship isn't up for grabs. It doesn't come with a price tag."

In any event, I'm very happy for them. If two people dig each other, they dig each other. Good luck, Elton. Good luck, David. Have a great life.

(But because I wasn't invited, do I still have to send them a toaster?)

Donald J. Trump is Chairman of Trump University

The Apprentice: And Then There Were Two

2008-06-10T23:00:00.000-07:00

We're down to the final two candidates--Randal and Rebecca--on this season's The Apprentice. With the impressive slate of contestants we had this year it was difficult getting to this point.

I've obviously had to fire a lot of talented and hard-working people with some incredible potential. But that, of course, is the nature of the show. We start with the best and the brightest and narrow it down even farther from there. Looking at how and why those who were fired lost their chance at a job in the Trump Organization, it was interesting to see that many strong, successful people failed. It wasn't because they weren't good leaders or they didn't have what it takes to thrive in the business world, but, at least in one particular situation, they failed--and, in most cases, failed miserably.

Some of them may have been very bright and talented, but lacked people skills. Remember Melissa, who was the first to go? She was indignant and angry and couldn't get along with her teammates. Things were the same with Clay whose creativity was overshadowed by his disruptive behavior. Kristi had a tough edge, and Toral rubbed just about everyone the wrong way. Of course, there was Marcus, who barely contributed and talked way too much. It just proves how important attitude can be. You don't have to be sunshine-and-roses all the time but you have to be reasonably pleasant to be a good leader or people won't work well for you, and you won't be around for long.

Occasionally, one stupid mistake can be a player's downfall. Brian misjudged commute time in New York City, of all places. Adam made a bad budget decision. Often, it's a series of small mistakes that add up. Chris overlooked too many tiny details. Jennifer W.'s event was boring and uninspired. In some instances, these mistakes would've been overlooked. Perhaps, someone else would've picked up the slack, but they were the reason a team lost.

Some players made unforgivable errors. Marshawn abandoned her team right before it was time to make a presentation. In the first ever mass firing on The Apprentice, Jennifer, Josh, Mark, and James were all sent packing when they lost sight of the goal and focused more on playing baseball than on selling merchandise. They walked away with the biggest loss--and took the most crowded cab ride--in the history of the show.

Of course, Rebecca and Randal also made some mistakes along the way, but they had no attitude problems and their errors were far from unforgivable. Fortunately for them, others made much more glaring missteps each time, landing this pair in the final two. From what I can tell so far in this fairly intensive job-interview process, either one would be a good addition to the Trump Organization. But the last grueling task should hopefully determine a clear winner. Maybe we'll see some attitude or a glaring mistake. In any case, someone will finally hear, "You're hired."

Donald J. Trump, Chairman Trump University

Nick and Jessica Should Have Had a Prenuptial Agreement

2008-06-10T22:58:00.000-07:00

With the end of yet another celebrity marriage--Jessica Simpson and Nick Lachey--it's time, once again, to talk about prenuptial agreements.

Nick and Jessica apparently didn't have a prenup. What were they thinking? Jessica's father is a friend of mine and he's managed her career very well so far. I'm surprised, however, that he didn't get her to sign a prenup. I guess he didn't read my books.

When it comes to marriage, one thing I've preached over and over again is that you should have a prenup. I know it doesn't sound very romantic, and it's a difficult subject to broach when you're in love, but if you have any financial assets at all it's critical. You never know what will happen in love and money, so you should always be sure to cover your assets.

Besides being practical, a prenup is a matter of consideration and responsibility. It's a matter of consideration because a prenup can spare a couple some of the messier, more unpleasant aspects of divorce. It's also a responsibility because marriage, among other things, is a legal commitment. Why ignore this basic component of an important step in your adult life? If you aren't adult enough to be responsible, maybe you shouldn't be getting married in the first place.

When it comes to prenups, I'm talking about women as well as men. It's not strictly something that men should ask women to sign. Ladies, if you have assets, then by all means you should protect them before you walk down that aisle.

In Nick and Jessica's case, his career was bigger than hers when they first got together, but now her career has far surpassed his success, so the tables have certainly turned.

Watch how messy this Nick and Jessica thing will get. There are rumors, though, that they may get back together, which I really hope is what ultimately happens.

Donald J. Trump, Chairman of Trump University

Judith Miller and The New York Times

2008-05-17T04:10:00.000-07:00

by Donald J. Trump

Chairman, Trump University

The New York Times has made the headlines again: investigative reporter, Judith Miller, has announced her "retirement" after 28 years at The Times. I wonder who she was actually working for. I'd like to have The New York Times investigated for its reporting.

Judith Miller said that as a reporter, she had become the news, "something a New York Times reporter never wants to be." I personally think journalists should be in the public eye as much as possible. They would be more closely scrutinized.

It's headline-worthy when a reporter goes from being a Pulitzer Prize winner and martyr for press freedom to an employee who misled her own editors in the CIA leak. Is it any wonder she decided to retire? She must be exhausted from those dizzying and headline-grabbing feats.

I know The New York Times has to come up with headlines. That's their job. Still, I would like to see them focusing on the facts once in awhile. Otherwise, they might as well hire some fiction writers and poets and get some really high quality literature on their pages instead of potboiler news. If I'm going to spend my time reading, I want to make sure it's quality time.

Maybe Judith Miller shouldn't "retire," but instead investigate The New York Times for their reporting practices. I'm sure that after 28 years with them, she could find the right "unnamed sources." Even though she is not a very good reporter, she could put her journalistic experience to good use, and figure out what happened to this once great paper.

Donald J. Trump is Chairman of Trump University

Record Oil Prices

2008-05-04T00:39:00.001-07:00

by Donald J. Trump

Chairman, Trump University

Not that long ago, gas prices were at an all-time high, and we were going ballistic. When we were paying as much as $3 a gallon, I couldn't help but direct my anger at oil-producing countries. I was convinced that they were to blame for the soaring costs, and I was angry at our government for not taking more aggressive measures to slow price increases.

Imagine my surprise when the stories came out about how much money the oil companies have been making. While drivers have been paying record prices at the pumps every time they fill their tanks, the oil companies apparently have been making historic profits. It's actually quite unbelievable.

Exxon's profits were up 75 percent to 9.9 billion in the third quarter alone. Shell reported a net income of $9 billion. British Petroleum reported $6.5 billion of profit in the third quarter, and ConocoPhillips reported $3.8 billion. Those are astounding numbers.

I know that the purpose of business is to make money, and I never want to begrudge an organization its profits. But all this time we assumed the oil companies were struggling like the average consumer. This was one time where they could've buckled down just a little bit. They could've taken a little less of a share of the profits so that they wouldn't have passed on such a big burden to the consumers.

Yet here we are, eating the costs of higher oil prices. Something has to be done in Washington.

Donald J. Trump is Chairman of Trump University

Stay Focused

2008-05-04T00:38:00.000-07:00

by Donald J. Trump

Chairman, Trump University

Recently, I shocked a lot of viewers of The Apprentice when I fired four contestants simultaneously in the boardroom. I was incredibly disgusted with their performance on a sales task and couldn't decide who did the worst job. So they all crammed into that taxi for the final ride home.

The teams' task had been to create an interactive sales event in a sporting goods store. It was fairly straightforward. The team with the most sales won. The members of Excel got caught up in creating an elaborate batting cage to wow shoppers. It was so enticing that customers waited in long lines to try it out. Team members worked the pitching machine and gave hitting tips while hawking lemonade and hot dogs. They were so caught up in the frenzy and excitement of the event that they forgot the original goal which was to sell actual store merchandise.

Meanwhile, Capital Edge constructed a mini putting green for children. It allowed the parents to shop while kids stayed happily occupied. It was a no-brainer win. Capital Edge had a 74 percent increase in sales while Excel delivered a 34 percent drop, the biggest loss in the history of The Apprentice.

What happened was simple. Team Excel lost focus. Most of the members put all their time and energy into creating this remarkable presentation, but, in the end, they forgot about the overall purpose of the task. I see this happen way too often in the business world. People get caught up in wonderful, eye-catching pitches, but they don't do enough to close the deal. It's no good if you don't make the sale. Even if your foot is in the door or you bring someone into a conference room, you don't win the deal unless you actually get them to sign on the dotted line.

Donald J. Trump is Chairman of Trump University

The New York Times Is a Mess

2008-05-04T00:37:00.000-07:00

by Donald J. Trump

Chairman, Trump University

I think anyone who has lost a son, a daughter, or a loved one in the war in Iraq should sue The New York Times for Judith Miller's false reporting about the so-called "weapons of mass destruction" as a premise for that war. It's one thing to get a bad review, it's another to lose more than 2,000 lives because of false or inaccurate reporting. Imagine having the Judith Millers of the world working for you and getting away with things that are inconceivable to a journalist. We have to draw the line somewhere, and that's where I draw the line. All the news that's fit to print seems to have evolved into "whatever we decide to print is the news, whether it is correct or not!"

This past weekend I was playing golf with a friend who was irate with The New York Times. His investment portfolio has never been lower. His stock in the company is at the lowest it has been in ten years, and he can only blame the behavior at the so-called "paper of record" for this plunge.

In addition, the current mess with Judith Miller has made me wonder what is going on there. What kind of reporting is The New York Times doing? Who are they really working for? Can we afford to believe anything they print? Do they have a conscience? Do they know that power includes responsibility? Do they even know what they are doing?

I think The New York Times has some big-time cleaning up to do, but I wonder if it's too late.

Donald J. Trump is Chairman of Trump University

Teamwork Pays in workplace

2007-12-17T01:44:00.002-08:00

by Donald J. Trump

Chairman, Trump University

Next month, construction will start on the two tallest residential towers in New Jersey. It may not surprise you that they will bear the Trump name. Trump Plaza Jersey City, a $415 million condominium project, will include two triangular towers, one 50 stories high, the other 55 stories. Together, Trump Plaza Jersey City will offer 862 luxury condominiums.

The towers' positioning and design will provide striking views of the Manhattan skyline from nearly every apartment. Each building will offer a rooftop swimming pool, a business center, an 8,000-square-foot fitness center, an enclosed basketball court, and a private film theater.

I am the largest developer in Manhattan, but I decided to go to Jersey City because I see incredible potential there. I am pretty good at predicting trends, so let's hope this is a big one. I obviously think Jersey City has a great future, or I wouldn't be there.

This time, I'm not doing it alone. I've teamed up with Hoboken-based Metro Homes. Dean S. Geibel, who with his partner Paul E. Fried runs Metro Homes, initially pitched the idea to me because he knew that I liked to do things that were really big. I knew this project would be highly visible from Manhattan, and I believed this was a partnership that could succeed.

Although I often work alone, in this case, I thought there was definitely strength in numbers. Metro Homes obviously could have put up a couple of buildings and called it a day. But they saw the impact a partnership with the Trump Organization would have. Likewise, I could have just marched into New Jersey and started building.

Instead, we both recognized the power of a good business partnership. I respected their knowledge of the market, and they held the Trump organization in high esteem. Together, we knew we could make great things happen.

Even Jersey City's mayor Jeremiah Healy commented on the importance of my crossing the Hudson. He said, "I think it really cements Jersey City as the hottest place to be in the Northeast."

I think this New Jersey project has amazing potential.

Donald J. Trump is Chairman of Trump University

Life is Never Easy, Even When You're Doing Well

2007-12-17T01:44:00.001-08:00

by Donald J. Trump

Chairman, Trump University

I talked about this earlier in the week on my daily radio show, but I have more to say. Someone just wrote a book about me. It's the biggest pile of garbage I've ever seen, written by a highly questionable and, some people say, disgraced reporter named Tim O'Brien.

I looked up O'Brien on the Internet and found stories comparing him to Jayson Blair. Blair was The New York Times' infamous reporter, who was fired in shame after he was found guilty of fabricating stories, sources, and quotes.

Jayson Blair almost took down The New York Times, and now the paper might be taken down by Judith Miller, who's just as bad as Jayson Blair. If you're reading other newspapers, Miller is the Times' reporter who went to jail for refusing to reveal her sources, but is now part of a sordid mess that is still being sorted out, which involves the White House, the CIA, and The New York Times.

The fact is The New York Times is going to hell. They published a major story about me on Sunday that they knew was wrong. On Sunday morning, right after the paper came out, my lawyer got a call from a lawyer at The New York Times asking if we wanted to correct the story. He didn't even wait until Monday, probably because he figured the lawsuits would be filed by then. The paper's editors knew the story was wrong, but they wanted to try and sell newspapers.

The New York Times was once a great newspaper, but it's not worth the paper it's printed on anymore. Changes have to be made. The New York Times is now reeling from so many huge mistakes by reporters and management that people are saying it's one of the worst newspapers in America.

There really has to be a shakeup at The Times, and I hope it happens soon. Too many people rely on it for factual information.

By the way, to the lawyer who called my lawyers on Sunday morning: Don't worry, we'll get back to you.

Donald J. Trump is Chairman of Trump University

Loyalty as the highest value at work

2007-12-17T01:43:00.001-08:00

by Donald J. Trump

Chairman, Trump University

On a recent episode of The Apprentice, some people were surprised that I didn't fire Rebecca after a rather contentious meeting in the boardroom. Rebecca had broken her ankle the week before and set out to prove, despite her physical setback, that she was still capable of leading her team. She volunteered to be project manager, but unfortunately for her, the women's team failed.

There was a lot of finger pointing for the loss, and most of those fingers were aimed in Toral's direction. But instead of immediately picking Toral to return with her to the boardroom, Rebecca opted to let her return to the suite. Apparently, Toral had helped Rebecca with her ankle, and Rebecca held Toral in high esteem for her educational background (my alma mater, Wharton) and for her business background.

Even when I personally suggested that Rebecca reconsider, she remained steadfast in her decision. It was either a really stupid move or a really smart one. Fortunately, for Rebecca, there are few qualities I value more than loyalty.

When employees and employers, even coworkers, have a commitment to one another, everyone benefits. I have people who have been in business with me for decades. I reward their loyalty to the organization and to me. I know that they'll always be dedicated to what we're trying to accomplish. The reason I have so many loyal people in the Trump Organization is that the loyalty is reciprocated. A lot of companies feel that dedication is a one-way street, but I think that's an easy way to lose good, talented people.

In Rebecca's case, I was impressed by her steadfastness. (I still think she made a stupid decision, and I fired Toral the following week.) Nevertheless, I was moved by her dedication.

Donald J. Trump is Chairman of Trump University

Donald Trump: Headliner in an Arena of Wealth-Seekers

2007-12-11T02:24:00.001-08:00

by Donald J. Trump

Chairman, Trump University

In just a few days, thousands of would-be real estate investors and future billionaires will be picking my brain at the Learning Annex Real Estate Wealth Expo. This will be the second event of this type I've done, and I have to admit that the crowds blow me away. They come out in droves. I almost feel like a rock star as I see all their eager faces and feel the incredible energy.

Whatis it about real estate and the Trump name that generates this kind of near hysteria?I know it's not all about me, though I don't mind taking just a little bit of the credit. It's the fact that there's money and glamour involved. There's the undeniable potency of the "real" in real estate. Unlikeinvesting in stocks and bonds, real estate offers people the opportunity to invest in something that is concrete and material. Combine that tangibility with the power of the Trump name and people get worked up into a state of almost frenzied excitement. It's unbelievable!

The last time I did this "How to Get Rich" seminar was in Los Angeles last May. This time I'm speaking at the Jacob Javits Convention Center here in New York on October 23. I've got another date on my schedule in Chicago on November 6.

Learning Annex President and Founder Bill Zanker says that he approached me to speak at these seminars because he believes I'm the world's biggest celebrity. That's very nice of him to say. Bill says even he was surprised by how much interest there is in my classes. The first time I was on their roster, some 20,000 students signed up to hear me speak.

If you haven't signed up, let me give you a sneak peek. Here's one tried and true tenet of my real estate and personal philosophy: I like thinking big. I always have. To me, it's very simple: if you're going to be thinking anyway, you might as well think big.

Donald J. Trump is Chairman of Trump University

Getting Along in the Workplace (A Lesson from Episode One of The Apprentice)

2007-12-11T02:22:00.000-08:00

by Donald J. Trump

Chairman, Trump University

Besides being enjoyable entertainment, The Apprentice offers some pretty straightforward business lessons. In this season's first episode, Melissa was a simple case study on how not to act in a business environment.

It's important to be a team player and to get along with your coworkers. It's critical not to ruffle feathers by being negative and having an attitude. In Melissa's case, she was constantly bickering with her teammates, pointing out flaws in the way her team's marketing was being handled, and badmouthing her project manager to anyone who would listen, including Carolyn. She seemed to make waves just for the attention it brought her. Melissa even admitted that she felt other women couldn't work with her because they were intimidated by her beauty. (Being beautiful is normally not a bad thing in my world, but bragging about it being a liability makes it become an actual liability.)

In the end, nearly every one of her teammates singled her out in the boardroom for her disruptive, negative attitude even though perhaps their leader, Kristi, was the one who was at fault overall for losing the task. Melissa's complaints and unconstructive input overshadowed any negative input on the project manager's part.

In a way, I guess it sounds somewhat hypocritical for me to say that it's important to be pleasant and a team player without an ego. I don't have a reputation for keeping my opinions to myself nor for being overly ego-free. But there's a difference. I've certainly paid my dues and worked hard to get where I am. Just because I speak my mind doesn't mean I don't value what everyone else has to say. I surround myself with very capable people and expect them to work very hard. If they're negative or they bicker or don't get along, then the company suffers and we all lose. People like that don't last long. Sooner or later, they'll hear, "You're fired."

Donald J. Trump is Chairman of Trump University

Women at Work

2007-12-10T08:33:00.000-08:00

by Donald J. Trump

Chairman, Trump University

Often I'm asked whether I think there is a glass ceiling for women in the corporate world. I admit that in many offices that obstacle may still be in place, but I like to think there isn't one in the Trump Organization.

There are several high-ranking women in my organization. Anyone who has watched The Apprentice is familiar with Carolyn Kepcher, who is an executive vice president as well as general manager and chief operating officer for two Trump National golf clubs. She's very smart, very shrewd, and tough as nails. Those are qualities I admire in someone, male or female.

Early in the first season of The Apprentice, I warned the female contestants that they were relying too heavily on their sex appeal to win the tasks. I think women have a tough situation in the workplace because of the sexual undertones. The business environment is so cutthroat that men and women learn to use whatever they can to get ahead, including their sexuality. Yet, when women do this, the perception of them changes. That's why women have to work harder to overcome obstacles.

I expect my employees to work long hours and to be available whenever I need them. Sometimes these expectations are more difficult for women to meet than men because they often have more family obligations than men do. I think sometimes this is where the obstacles come into play. It's not that the opportunities aren't there. It's just that the priorities can be different. Men are often more willing to put their jobs before their families--and I don't think that's a good thing. Women usually will put their families first, or at least give them equal time. The families win, but often that's why women perceive a glass ceiling looming overhead.

Donald J. Trump is Chairman of Trump University

Preparing Students for the Real World

2007-12-06T00:59:00.001-08:00

by Donald J. Trump

Chairman, Trump University

I read recently that the class of 2005 had the highest scores ever on the math portion of the SAT test--up two points from last year. That's great, I guess. But I still think we're a long way off from really preparing our high school kids for college, much less for the working world beyond college.

I know that school systems have a lot of educational ground to cover in those four critical years, but I think they're leaving something out if they're not offering a good introduction to business course in high school. Plenty of schools offer basic accounting skills if students already profess an interest in that area, but I'm talking about broader-reaching, all-encompassing classes that would really get students ready to tackle serious business prep once they hit college.

It's difficult to dive into college businesses classes without much of a background. In nearly every other basic subject--English, math, science, language--students have had a pretty thorough preparation by the time they graduate from high school. In most cases they hit the ground running in college with a solid foundation in basic skills so that they can start tackling more complex theories and higher-level concepts.

It's rarely that way in business classes, however. Students have so little preparation; they're usually starting from scratch, learning the most basic ideas. Yet, imagine the advantage that these future business leaders would have if they had the chance to develop business skills early on in their education. I think it's never too early to introduce students to business concepts. High school would be the perfect place to start.

Donald J. Trump is Chairman of Trump University

Donald's Excellent Emmy Adventure

2007-12-06T00:58:00.000-08:00

by Donald J. Trump
Chairman, Trump University

If you watched the recent Emmy Awards show, no doubt you did a double-take when you saw me hit the stage wearing overalls and carrying a pitchfork. When the producers of the show called and mentioned "Green Acres" and "overalls" in the same sentence, I thought they were kidding. It wasn't until the third or fourth phone call that I realized they were serious. I grudgingly agreed to do something with Green Acres because I loved the show and I loved the song, but there was no way I was going to dress up in overalls.

Obviously, I gave in. And it seems to have been a success. The Apprentice was up for an award, but my performance with Megan Mullally was the subject of water-cooler talk the next day. It certainly was out of character for me to sing and to wear overalls. Believe me, it took a lot of guts. When I walked onto the stage, I saw that the first ten rows in the theater were filled with just about every television and movie star I could possibly imagine. I had a moment's hesitation, but it worked out.

Believe it or not, there's a business lesson to be learned from those overalls and that pitchfork. Every day, you'll have opportunities to take chances and to work outside your safety net. Sure, it's a lot easier to stay in your comfort zone--in my case, business suits and real estate--but sometimes you have to take risks. When the risks pay off, that's when you reap the biggest rewards.

Never let it be said that I'm not a good sport! I had never worn overalls before that night, but after the Emmys I packed up that pair and brought them back with me to New York. After the show, I went on Ellen and Regis and every other talk show. They all wanted to hear about me and Green Acres and what it took for them to convince me to do that skit. I showed my funny side and I got airtime to talk about the new season of The Apprentice.

I took a risk and it paid off.

Donald J. Trump is Chairman of Trump University.

In the Wake of Katrina

2007-12-06T00:57:00.000-08:00

by Donald J. Trump

Chairman, Trump University

There is absolutely no question that we should rebuild New Orleans in the wake of Katrina--even bigger and better than it was before. Although it's difficult to imagine that the once vibrant city will be thriving again, we know cities are resilient. They survive the worst horrors, rebounding from earthquakes, floods and fires as well as wars and worse. Look at how New York City has returned after 9/11.

Right now people are concentrating on the emergency phase. Yet, soon the emphasis will have to be on recovery and rebuilding. The circumstances here are extraordinary. The usual rules hardly apply.

In order for the city to return to its original successful state, business leaders must return to the area. That seems like the right thing to do, but it's not that straightforward and it won't be simple. It would be so much easier to relocate somewhere else rather than wait for a city to be rebuilt from the ground up.

Many businesses with deep ties to the area will make that commitment, but it will be a tough one. It may take years, maybe decades, before the city and its businesses get back to where they were. So those businesses have to realize what lies ahead for them: a painstaking process that won't follow the standard paths of real estate. Who knows how property values will fluctuate or how the values of various locations will change.

Like the people of New Orleans, in the business world, the strong will survive. Many will relocate. Many won't take the chance on rebuilding. That's a shame. About four days before the hurricane we were thinking about building something there with a New Orleans developer as a partner. I look forward to being part of the rebuilding process.

Donald J. Trump is Chairman of Trump University

Ode to Small Business Owners

2007-12-06T00:56:00.000-08:00

by Donald J. Trump

Chairman, Trump University

In my world, almost everything revolves around big business. I deal with big corporations and big lenders and big builders--big entities all around. But I have incredible respect for small business owners. There are millions of them in the United States, and they are a powerful force, driving our economy.

Yet, small business owners are also at a disadvantage because they often don't have many resources available to them. Unlike larger business entities with the funding to offer company-wide seminars or to subsidize continuing education, small business owners don't have the usual mainstream places to turn when they need advice on how to grow their businesses. When a small business owner has a staff of only a handful of people, it's hardly practical to hire a coach to dispense business advice. Then, where can the small business owner turn for high-quality and cost-effective resources?

This dilemma is one reason I saw the need to create an online learning environment like Trump University. I wanted to have a place where owners of small businesses--businesses that are just as critical to our economy's livelihood as big corporations--can turn to learn about critical business strategies and advice. These leaders need to understand how to hire, manage, motivate, and develop their employees. The Internet is a great tool for those kinds of resources, although I admit they're few and far between.

Surf around all over the web. Look for advice on how to reach your customers, how to raise your capital, and how to expand your business. The resources are right at your fingertips. I know you'll find that kind of help here at Trump University. It's the best advice from the brightest stars in the business field. I certainly wouldn't put my name on it, if it were anything less.

Donald J. Trump is Chairman of Trump University

The State of Our Schools

2007-12-05T03:12:00.001-08:00

by Donald J. Trump

Chairman, Trump University

Now that Labor Day has come and gone, it's officially back-to-school season. Just in time for a new year of classes, the educational testing and research organization ACT released a report that says only about half of the most recent crop of high school graduates have the reading skills they need to succeed in college. Even fewer are prepared to face college-level science and math classes. That's sobering news.

In a related story, a consortium of some of the world's leading businesses launched a national campaign hoping to better prepare students in science and math. They hope to convince policymakers and the public that America's place in the global economy is at stake.

Meanwhile, the education system is also under relentless attack from politicians as well as teachers, administrators, parents, and students themselves. Everyone has ideas of what's wrong and how to fix it. Some argue that the President's No Child Left Behind Act is so under-funded that states can't implement its mandates. Even if the tools are there to fix our education system, the money isn't.

Yes, funding is critical. But money isn't the only answer and, by far, not the only concern. We can't assume that the only way to fix a problem is by throwing money at it. If we don't have the money, then the problems aren't repairable.

I've spoken in the past about how important it is to give parents a choice as to where they send their kids to school. That way, it challenges all schools--public and private--to ask more of themselves, of their students, and of their teachers. That's one way all schools will improve. When there's choice, there's competition. And competition makes for success all around.

One more thing: get involved. Don't gripe about your child's school if you never walk in the door. Get on the PTA, show up at the teacher conferences, volunteer to be on panels and committees and boards. Invest time in education. Make a commitment. It is the future, you know.

Donald J. Trump is Chairman of Trump University

The Housing Bubble: Doom and Gloom Don't Pay

2007-12-05T03:11:00.001-08:00

by Donald J. Trump

Chairman, Trump University

With housing prices continuing to rise into the far reaches of the stratosphere, there's a lot of talk about a housing bubble on the brink of bursting. Scared at the possibility, industry watchers have been preaching impending doom, warning house shoppers to be wary of the real estate market.

As long as interest rates stay low and the dollar stays weak--which is an unfortunate situation, but it happens to be good for real estate--then there will be no burst in the current housing bubble. If interest rates go up precipitously and the dollar gets stronger, then there will be some reduction in housing prices.

How you react to the so-called housing bubble can be a barometer of your business personality. Are you the type of person who takes advantage of positive situations when they present themselves, riding them out as long as they last? Or do you heed every message of doom and gloom, avoiding risks that could be some remarkable opportunities?

Obviously, good things don't last forever. But in a competitive business environment, you have to be willing to take chances. You can't always live in fear. That said, when things start to look questionable, you also have to be smart enough to know when to get out.

Donald J. Trump is Chairman of Trump University

Outsourcing Creates Jobs in the Long Run

2007-12-05T03:09:00.000-08:00

by Donald J. Trump

Chairman, Trump University

We hear terrible things about outsourcing jobs--how sending work outside of our companies is contributing to the demise of American businesses. But in this instance I have to take the unpopular stance that it is not always a terrible thing.

I understand that outsourcing means that employees lose jobs. Because work is often outsourced to other countries, it means Americans lose jobs. In other cases, nonunion employees get the work. Losing jobs is never a good thing, but we have to look at the bigger picture.

Last year, Nobel Prize-winning economist Dr. Lawrence R. Klein, the founder of Wharton Econometric Forecasting Associates, co-authored a study that showed how global outsourcing actually creates more jobs and increases wages, at least for IT workers. The study found that outsourcing helped companies be more competitive and more productive. That means they make more money, which means they funnel more into the economy, thereby, creating more jobs.

I know that doesn't make it any easier for people whose jobs have been outsourced overseas, but if a company's only means of survival is by farming jobs outside its walls, then sometimes it's a necessary step. The other option might be to close its doors for good.

The High Price of Gas

2007-12-03T08:13:00.001-08:00

by Donald J. Trump

Chairman, Trump University

People swallowed hard when gas hit $2 a gallon last year. Now, it has passed yet another horrific milestone. In some parts of the country, people are paying as much as $3 a gallon at the pump. That's just ridiculous. Plus, there's no sign that things are going to get any better.

I wish that the United States would just get on the ball with alternative energy. As much as I'm impressed with the space program, maybe those funding dollars should be redirected into research that would develop other ways of fueling our nation.

I'm also very tired of hearing about how our government is working with Saudi Arabia to try to stop the rising price of oil. I can see those heads of oil-producing countries just laughing as they continue to jack up the cost per gallon. If we would just threaten to stop protecting all those countries, I think we'd see an immediate drop in oil prices.

Better yet, stop sending those politicians over there to negotiate. Send a true business leader--someone who is used to tough bargaining--and see how far he or she could get. A seasoned business negotiator could do some serious talking and those prices would drop like a rock--guaranteed.

Donald J. Trump is Chairman of Trump University

Success with Style

2007-12-03T08:11:00.000-08:00

by Donald J. Trump

Chairman, Trump University

The style is the man himself.

-George Louis Leclerc

The glamour and grandeur of my buildings and my life are no mere trappings. Beauty and elegance, whether in a woman or a work of art, is not something superficial, not just something pretty to look at. It's a product of style, and it comes from deep inside. No matter how hard you try, you cannot buy style. Whether custom-made or off the shelf, good taste is not for sale. For me, style and success are completely interwoven. I wouldn't want to have one without the other.

When I'm going up to my office in Trump Tower, I enjoy looking down on the crowds of people ohhing and ahhing at the magnificent atrium I created. I realize that what I'm seeing is just the outward affect of the spectacle, the tourists' reaction to all that beautiful marble and the 80-foot waterfall. It's probably unlike anything they see back home, and it says "Trump" like few things do.

Even though I'll never actually see it, I also know something else is going on inside those tourists and glamour-hounds who flock to Trump Tower or the Taj in Atlantic City or any of my other properties that dazzle with their flair. These people are responding emotionally to the whole package. Whatever you want to call this reaction--a thrill or simply pleasure and appreciation--I like it, and I can tell you it's no accident. What they're really responding to is the style of my work. Style is what moves people, and style is what the best always have in spades.

Tiger Woods, a phenomenal golfer--and a good friend--has style. If he just sank a little ball in a little hole again and again, that wouldn't account for his popularity and, dare I say, his fantastic wealth. Another friend of mine, Tony Bennett, has more style than maybe anyone who ever set foot on a stage. He's a huge talent, certainly, and he has a fantastic set of pipes, undoubtedly. But it's his style that sells it. Talent without style can be mechanical. Competence without style is often just business as usual, and that's something I'll never be accused of.

Donald J. Trump is Chairman of Trump University

Trump in Vegas

2007-12-03T07:57:00.000-08:00

by Donald J. Trump

Chairman, Trump University

trump n: 1. a. A suit in card games that outranks all other suits for the duration of a hand. b. A card of such a suit. c. A trump card. 2. A key resource to be used at an opportune moment. 3.

Informal A reliable or admirable person.

On July 12 I will be breaking ground on the Trump International Hotel & Tower. Starting a new building is always a big deal, but this one is particularly special. It represents my first real estate foray into

Las Vegas, and it's the fulfillment of a dream. Also, this event announces to everyone that within two-and-a-half years, on that very spot the tallest hotel in

Las Vegas will stand. It's the beginning of a process that will culminate with my name blazing high atop the neon swirl of the iconic Vegas strip.

Adding to this moment's big-time drama is the fact that it will conjure the image of a soon-to-be Vegas landmark standing right across the road from Wynn Las Vegas. That's the signature property of my one-time nemesis, Steve Wynn. Wynn, of course, is the longtime cock of the walk in Vegas. He reinvented the Strip with such mega resorts as The Mirage,

Treasure Island, and the Bellagio. Wynn Las Vegas, though, is the first building that he has put his name on.

Steve Wynn and I go way back. We squared off over the Hilton properties in

Atlantic City back in the '80s. Both of us have always built big, and we have the egos to match. With us, it used to be like the old western stand-off, "This town's not big enough for the both of us." Now, a lot of years, a lot of buildings (and several wives) later we're good friends. Steve is a great guy and a man after my own heart. He was at my wedding, and I'm no stranger to his social circle. Back in the day, though, the competition was fierce.

I like competition. I think it's healthy. More importantly, it has a lot to do with who I am today. My battles have always fired me up; they push me to expand and extend my efforts beyond what I thought was possible. They force me to outdo myself. Ultimately, they have made me bigger.

Las Vegas has a storied past, and it means a lot of things to a lot of people. For me, it's the western frontier and represents the expansion of my eastern gaming interests. I've already had a huge hand in shaping the landscape of

Atlantic City, so Vegas is a major challenge--the sort of larger-than-life canvas I've always been attracted to. I hesitate to say that my arrival in Vegas was somehow cosmic--"in the stars" so to speak--but given that my name is Trump, it was certainly in the cards.

Donald J. Trump is Chairman of Trump University

Donald Trump: Educator

2007-12-02T06:23:00.000-08:00

by Donald J. Trump

Chairman, Trump University

I'd be lying if I said I don't think about my legacy. The values I hold true and the buildings I've put up are intended to carry beyond the here and now; I want them to survive well past my own time on earth. I'm particularly interested in my legacy as an educator, which is part of the reason I started Trump University. I relish the idea that this venture will help to shape future generations of entrepreneurs and business managers.

I believe the knowledge and experience I've acquired after many years in business are applicable beyond my own personal sphere. I've been hugely successful, which means I've learned how to do a lot of things the right way, and I want to share this knowledge with others. When I'm gone, hopefully people will say, "Donald Trump left a legacy of success. Not only did he do well, he set an example for others to follow."

The seeds of learning can grow almost anywhere. Trump University and my other education-related ventures like The Apprentice are about access for all. In a sense, my approach to education is the opposite of my approach to real estate. The apartments and offices I build aren't cheap, so there's an element of exclusivity there, but Trump University is meant to be inclusive. A contradiction? I don't know, but so what if it is? As Walt Whitman once said, "Do I contradict myself? Very well, then, I contradict myself. I am large, I contain multitudes."

Donald J. Trump is Chairman of Trump University