Timothy O'Brien, writing at Bloomberg:
During a 16-month period stretching from late 1989 to early 1991, Trump churned through five different presidents he had hand-picked to run his flagship casino, the Taj Mahal–a preview of how he's run his presidential campaign.
We know how all of this eventually ended in Atlantic City: four corporate bankruptcies, investments soured, jobs destroyed, a town left hollowed out, and Trump still angling for fees, perks, and other corporate table scraps until he finally exited the market in 2014.
The Trump Organization itself–the licensing and development boutique on the 26th floor of Trump Tower–is a tribal operation, increasingly stewarded by the three eldest Trump children. It is sparsely populated by a tightly knit group of loyalists who have been with the Trump family for many years. But it has never embraced a broader team of professionals, nor has it created a Fortune 500-level corporate bureaucracy, the kind that might serve as a model for, say, a national political machine.
Even if he were any good at building and running a business (and he's not), why would Trump even bother? He's only in any of this to pry as much cash for himself as he can out of the arrangement, and then skip out when it all starts collapsing around him. His run for the presidency is no different.