Interviews

Home Depot co-founder: Trump has accomplished a lot so far

Bernie Marcus says CEOs have a very positive attitude about what is ahead

 

This is a rush transcript from "Your World," April 5, 2017. This copy may not be in its final form and may be updated.

NEIL CAVUTO, HOST: I wanted to show you something that just blew me away.

This is a Politico Playbook referring to Donald Trump's first few months, right, essentially the first quarter of the year, that it was a lost quarter, that he's not getting squat done.

And I'm thinking to myself, this happens sometimes. He has had 17 different powwows with corporate CEOs from every major sector of the economy. He's met, first Republican to do so, with every major powerful union head. Unprecedented.

So I'm just saying, all right, in the pursuit of saying how lousy he's doing -- and have at it, with some of the controversy and all that -- would it kill you to report that U.S. companies are expected to have their best first quarter since 2011 and they're on track to do similarly strongly in the second quarter, and, and, and that the market appetite is still there, today's sell-off notwithstanding, for some big things out of a White House that still might disappoint them.

That could always happen.

But to Home Depot co-founder Bernie Marcus on a media that is being a bit too negative and focusing on only the half-empty glass.

It's very good to have you, my friend.

What do you think of that, the lost quarter?

BERNIE MARCUS, CO-FOUNDER, HOME DEPOT: Well, number one, you're looking at a quarter. He's been in office 70-some-odd days, I believe.

CAVUTO: You're right.

MARCUS: And he's accomplished -- he's accomplished a lot, Neil, really.

If you just look what he's done with executive orders that Obama has put through, and I'm talking about the pipeline, I'm talking about the Clean Air Act, all of those are job creators in America. And he's done it by himself.

So, you and I have talked about this. And I said, you know, Trump is a CEO. He expects things to be done. He makes decisions, they happen.

Unfortunately, when you go into the government, you find out that there are two branches. One is the executive branch, where you do things, and the other is the legislature, where it moves like lead. It just moves like mud.

CAVUTO: Right. Right.

MARCUS: You know, wheels going through mud.

He is going to have to get used to the balance. But I don't think he's patient enough. And I think he's going to push the Congress.

I will tell you one thing. If, in fact -- and, by the way, the economy has already demonstrated it's moving ahead. We see this new report coming out. Jobs are being filled. I can tell you that CEOs in America have a very, very positive attitude about what is going to happen in the future.

CAVUTO: But it doesn't get out there. You're talking about this ADP report that showed a surge of 263,000 jobs and more that could telegraph the employment report on Friday. We have seen a half-a-million jobs gained in the two jobs report we have had under this president.

And I'm just wondering, you know, not to sing his praises and all, but if you're going to rip him on all this other stuff, could that at least in context of what has been buoying markets and what has been buoying these companies and at least include it in the coverage?

MARCUS: No. No. They're not going to do it. No, because it's a positive for Trump, and they're dedicated not to give any -- you look.

All you have to do is watch CNN, which I did today. And I have to tell you something. The world is coming to an end. Nothing has ever happened. The economy is in a basket.

It's just not true. And the media, the left-wing media -- and I hate to take on Trump's -- what Trump is saying. But it's really true. They're not giving the facts. They don't want the facts out there.

But let me tell you something. The jobs that are going to be created in the future, and they're going to be many, many jobs, if he continues with deregulation, they tell me that this can have an effort of opening 6,000 jobs at new businesses a year, which means 100,000 new jobs a year.

And this can happen over the next four years to eight years. Those are all people who are going to understand that their jobs were created by Donald Trump.

And I have to tell you this. The Congress is going to have to jump on sooner or later. And I think that the Republican Party...

(CROSSTALK)

CAVUTO: Well, that's the thing. I'm worried about whether they do or not.

I think it was Jack Welch who had said the other day to me, Neil, they're trying to put this guy in a straitjacket, referring to the president. I'm paraphrasing here, but he said he's a glass-breaker, and they have tried to make him into this sort of conventional politician, go along with this plan we have come up with that was a cockamamie plan to begin with, and -- but not let him be him when it comes to busting heads, getting things done, getting companies to have their regulations eased up, that sort of thing.

MARCUS: No, it's just not going to happen. No, they are -- he's not going to bend. He's going to remain who he is.

And he has more energy than anybody I ever saw in my life.

(CROSSTALK)

CAVUTO: So, how would you advise he work with Congress then? How does he have to make that work, still be the bull in the china shop, but let people know, hey, it's my china shop?

MARCUS: He's already doing it. He's spent more time across the aisle than Obama did in the last eight years.

He's over there talking to them. He's meeting with party leaders, not only the Republican side, but the Democratic side also. He's meeting with people. And he's eventually going to convince them.

Let me tell you why. If he doesn't convince them, something dramatic is going to happen in 2018. And many of these people are not going to be in Congress anymore.

CAVUTO: That's right.

(CROSSTALK)

MARCUS: If the Republicans don't pass -- yes, if they don't pass a comprehensive medical plan, if they don't get rid of Obamacare, if they don't pass a tax bill, I will tell you, there will be many Republicans that won't be there.

But if they do pass both of those bills, and they're comprehensive and they're workable and they're doable, they will help America move straight. And what will happen is, the Democrats will see what is happening in the future and they will join up.

At one point, they're going to say and they're going to start abandoning ship. When they see their seats going down in flames, trust me, trust me.

CAVUTO: It's all about momentum. It's all about momentum. All right.

MARCUS: Trust me, Schumer is not going to be able to hold them in, I promise you.

CAVUTO: All right, here's how brilliant Bernie Marcus is. He doesn't have a handy bone in his body, and he came up with Home Depot, which I think is greatly admirable.

MARCUS: I wish you...

CAVUTO: I do.

MARCUS: That is not true. That is not true.

(LAUGHTER)

MARCUS: That is not true.

Look at those fingers. Are you kidding me?

CAVUTO: All right. I hear...

MARCUS: They're surgeon's fingers.

CAVUTO: There we go, OK. Surgeon's fingers, not handyman fingers.

All right, Bernie Marcus, the guy is brilliant. And when you think when at the time he created Home Depot, wow.

END

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