What President-Elect Trump Will Mean for Business: Two Dallas Execs Weigh In

John Stephens CFO AT&T

Let’s face it: this week was kind of an emotional mess.

If you were supporting Hillary Clinton and expecting her to win, like most of the media did, nearly all the pollsters, and of course the pundits, you were devastated, cried, and probably feel a bit wrung out by now.

If you were a Trump supporter, you had to have been a LITTLE worried that he could pull this off. But pull it off he did, making unprecedented history, and you are now one happy, albeit maybe hungover, camper.

If you were undecided or didn’t like either candidate, you probably just watched the events unfold in disbelief but are now wondering, what does this all mean? We need business to thrive so people can buy and build homes. At first the markets tanked (because the expected did not happen), but then they soared. Most business tycoons are overjoyed at the prospect of fewer federal regulations and maybe we can let Dodd-Frank take a hike (don’t let the door hit you in the fanny). Could a lower corporate income tax be on the horizon? Middle class tax relief? Rebuilding our country?  Here’s what two Dallas-based CEOs told Bloomberg News:

John Stephens, chief financial officer, AT&T Inc.:
“From a company perspective, we really look forward to working with President-elect Trump and his transition team. His policies, his discussions about infrastructure investment, economic development and American innovation, all fit right in with AT&T’s goals.” (Nov. 9)

Kelcy Warren, billionaire founder, chairman and CEO, Energy Transfer Partners LP:
“Having a government that actually backs up what they say, that actually says, ‘we’re going to support infrastructure, we’re going to support job creation, we’re going to support growth in America,’ — and then actually does it. My God, this is going to be refreshing. So, I think, overall, I’m very, very enthusiastic about what’s going to happen with our country, very enthusiastic and as it supports our industry.” (Nov. 10)

CEOs who have companies with Mexico ties are, well, freaking out and obsessing over the wall he promised to build. Horsham Township, Pa.-based Toll brothers, like most home builders, uses a lot of immigrant labor to build their homes.  CEO Doug Yearley  reminds us that just because a president declares he is building a wall, doesn’t mean it materializes:

Doug Yearley, CEO, Toll Brothers Inc.:
“We’re all just trying to deal with our hangovers this morning, so it’s hard.”
“I mean if Donald Trump is building a wall, and last time I checked a president can’t just declare that he is building a wall, we do have a system of checks and balances in this country and it’s never quite as easy as any presidential candidate says it may be for anything to get done. Our business is an immigrant-based business; then again, so are his hotels and so are his casinos.” (Nov. 9)