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As Donald Trump staffs up for second term, only MAGA loyalists need apply
By Gram Slattery and Alexandra Ulmer
WEST PALM BEACH, Florida (Reuters) – As advisers and allies of Republican President-elect Donald Trump search for personnel to staff his coming administration, one quality is absolutely paramount: unquestioning loyalty.
During his 2017-2021 term, Trump butted heads with key appointees, particularly those in the intelligence, national security and law enforcement communities, several of whom later recounted slow-walking or trying to talk Trump out of his most controversial plans.
Without people around him who are inclined to push back, the president-elect may find it easier to bend longstanding norms in pursuit of his conservative agenda, both Trump supporters and opponents say.
On Thursday, Trump named his campaign chief, Susie Wiles, as White House chief of staff. And on Saturday, Trump said he would not invite back his former U.N. ambassador, Nikki Haley, nor his former secretary of state, Mike Pompeo, both of whom have criticized elements of Trump’s conduct and policy, even as they tried to make amends in recent months.
Just days before the Nov. 5 election, one of Trump’s former chiefs of staff, John Kelly, called him a “fascist” in an interview. One of his national security advisers, John Bolton, has repeatedly described Trump as unintelligent. And his second defense secretary, Mark Esper, recounted talking Trump out of bombing drug cartels in Mexico in his 2022 autobiography.
Trump has in return blasted those former cabinet-level officials, going so far as to suggest that his second joint chiefs of staff chairman, Mark Milley, should have been executed for treason. This time around, Trump has said only true believers in him – and in his “Make America Great Again” movement – will be allowed into government.
“President Trump has publicly said that he’s learned from his first term,” Mike Davis, a conservative attorney who frequently talks to the president-elect, told Reuters. Davis, who helped Trump get his Supreme Court picks through the Senate as a high-ranking Capitol Hill aide, has drawn frequent praise from Trump’s most conservative allies.
“Political appointees require both competency and loyalty. You can’t have just one or the other. You need both.”
On X last week, Davis put it bluntly: “Before asking me for help, I am going to ask you to provide me specific and concrete evidence of your loyalty to Trump,” he wrote. “If you cannot provide a lot of that, stop asking me.”
A FORENSIC LOOK
To keep actors considered disloyal out of Trump’s government, his transition team is taking a forensic look at every potential appointee for signs they might turn against their boss, even for lower-level appointees like assistant and deputy secretaries, according to two people involved in the effort.
Researchers contracted by Trump’s transition team are sifting through potential appointees’ past statements to see if they have ever spoken negatively about Trump, according to one of those people involved in the transition effort, who has direct knowledge of the matter. They are also checking if potential appointees have donated to Democrats – or even to Republicans who have sharply criticized the president-elect, that person said.
While such donations or negative statements are not necessarily disqualifiers, the person added, they are demerits.
Davis singled out the attorney general as a particularly crucial position.
Trump fired his first attorney general, Jeff Sessions, after he declined to shut down inquiries into contacts between Trump’s 2016 campaign and Russian officials. Trump later said that hiring Sessions was his “biggest mistake.”
Trump also fired his first FBI director, James Comey, under similar circumstances.
With a more loyal attorney general and FBI director, Trump allies say, he would be less likely to face damaging probes. Trump would also likely face less resistance if he tries to make good on campaign trail pledges to investigate opponents, including Democratic President Joe Biden, a matter of serious concern for Democrats and civil servants.
A spokesperson for Trump did not address the dynamics of how potential political appointees were being selected, beyond saying decisions on key appointments were imminent. Three appointments – White House chief of staff, U.S. ambassador to the United Nations and border czar – have already been announced.
In a statement, the Democratic National Committee expressed concern that Trump was choosing loyalists they said would put Trump’s interests over those of the nation.
“Instead of making sure agencies and law enforcement have the best and the brightest with the resources they need, Trump and his cronies are looking to dole out job offers to loyalists who will put Trump ahead of the American people,” said Alex Floyd, a DNC spokesperson.
LOYALTY TO POLICY – AND THE MAN
While it is normal for presidents to choose loyal allies for key appointments, the focus on loyalty over subject-matter expertise goes beyond the norm, according to interviews with five Trump advisers and public statements made by the president-elect’s associates.
In many cabinets, presidents often reach out to the various wings of their own party so that distinct ideological factions have a seat at the table. Vice President Kamala Harris, the Democratic nominee, said on the trail that she would appoint a Republican to her cabinet.
“We’re going to give people the role based on their capacity — and their fidelity and loyalty to the policy, as well as to the man,” Howard Lutnick, the co-chair of Trump’s transition effort, told the Financial Times last month.
One Trump adviser predicted the president-elect would bring much of his campaign to the White House, many members of whom have proven their loyalty in Trump’s eyes by running a disciplined and tight-lipped campaign. Last time around, that adviser noted, Trump hired officials from the Republican National Committee.
“Loyalty is super important,” said the Trump adviser, who was not authorized to speak to the media.
“There will be a lot more of the campaign staff that will transition over to the White House. Last time, a lot of party folks ended up in the White House, but their loyalty wasn’t to the president. It was to themselves.”
In a challenging market environment, Allbirds Inc. (NASDAQ:) stock has recorded a new 52-week low, dipping to $7.65. The eco-friendly footwear company has faced significant headwinds over the past year, reflected in a substantial 1-year change with a decline of -55.8%. Investors have shown concern as the brand navigates through a competitive retail landscape and supply chain issues, which have pressured the stock to its current low. The company’s efforts to rebound will be closely watched by market participants looking for signs of a turnaround or further indications of industry-wide pressures.
In other recent news, Allbirds disclosed its Q3 2024 financial results, reporting a net revenue of $43 million. This figure reflects a downturn due to reduced unit sales and transitions to a distributor model in certain regions. Despite these challenges, the company managed to increase its gross margin to 44.4%, attributed to lower freight costs and improved inventory management.
The company also launched two new products, the Tree Glider and Lounger Lift, which have been positively received by consumers. Allbirds revised its full-year revenue guidance to between $187 million and $193 million and anticipates an adjusted EBITDA loss of $75 million to $71 million.
Additionally, Allbirds has signed two new international distributor agreements, expanding its reach in Latin America and Europe from mid-2025. The company’s management, led by CEO Joe Vernachio and CFO Annie Mitchell, remains optimistic about future growth, driven by forthcoming product launches and strategic marketing efforts.
InvestingPro Insights
Allbirds Inc. (BIRD) continues to face significant challenges, as reflected in its recent stock performance and financial metrics. According to InvestingPro data, the company’s revenue growth has declined by 22.67% over the last twelve months as of Q3 2024, with a quarterly revenue decline of 24.89% in Q3 2024. This aligns with the InvestingPro Tip that analysts anticipate sales decline in the current year.
The company’s financial health is also concerning, with an operating income margin of -48.08% for the same period. An InvestingPro Tip highlights that Allbirds is quickly burning through cash, which is particularly worrisome given the current market conditions.
Despite these challenges, InvestingPro Tips indicate that Allbirds holds more cash than debt on its balance sheet and its liquid assets exceed short-term obligations. This could provide some financial flexibility as the company navigates its turnaround efforts.
For investors seeking a more comprehensive analysis, InvestingPro offers 17 additional tips for Allbirds, providing a deeper understanding of the company’s financial position and market performance.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
Quipt Home Medical (TASE:) Corp. (QIPT) stock has reached a new 52-week low, trading at $2.55. This latest price point marks a significant downturn for the company, which has experienced a 46.87% decline over the past year. Investors are closely monitoring the home medical equipment provider as it navigates through a challenging period marked by this notable decrease in stock value. The 52-week low serves as a critical indicator for the market, reflecting investor sentiment and potential shifts in the company’s financial health and operational performance.
In other recent news, Quipt Home Medical Corp has been making notable strides despite facing several challenges. The company’s third fiscal quarter report revealed a steady increase in revenue, reaching $64 million, a 6.1% rise from the previous year. The customer base also expanded by 9%, serving 153,223 unique patients, and adjusted EBITDA grew by 2.7% to $14.2 million.
Benchmark revised its stock price target for Quipt Home Medical, reducing it to $7 from the previous $9, but maintained a Buy rating for the stock. This adjustment was influenced by several factors including the expiration of Medicare’s 75/25 rate relief, a diminished Managed Care contract, and the repercussions of the Change Healthcare (NASDAQ:) cyberattack. However, the firm predicts that Quipt could achieve an 8%-10% organic growth rate by the second quarter of fiscal year 2025.
In the face of these challenges, Quipt Home Medical has reported a 9% increase in resupply revenue for sleep therapy and supplies, which accounts for half of the company’s revenues. The company’s management has also indicated an active mergers and acquisitions pipeline, which could provide further growth opportunities. These are the recent developments that investors should keep an eye on.
InvestingPro Insights
Despite Quipt Home Medical Corp. (QIPT) hitting a new 52-week low, InvestingPro data reveals some interesting insights that may provide context for investors. The company’s revenue growth remains strong, with a 29.31% increase over the last twelve months as of Q3 2024, reaching $244.23 million. This growth suggests that QIPT continues to expand its market presence in the home medical equipment sector.
However, profitability remains a concern. InvestingPro Tips highlight that QIPT has not been profitable over the last twelve months, with a negative P/E ratio of -24.61. On a more positive note, analysts predict that the company will become profitable this year, which could potentially reverse the stock’s downward trend.
The current market valuation implies a strong free cash flow yield, according to another InvestingPro Tip. This could indicate that the stock may be undervalued at its current price, especially considering that it’s trading near its 52-week low. Investors looking for a deeper analysis can find 7 additional InvestingPro Tips for QIPT, offering a more comprehensive view of the company’s financial situation and market position.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
By Andrea Shalal
WASHINGTON (Reuters) – U.S. Muslim leaders who supported Republican Donald Trump to protest against the Biden administration’s support for Israel’s war on Gaza and attacks on Lebanon have been deeply disappointed by his Cabinet picks, they tell Reuters.
“Trump won because of us and we’re not happy with his Secretary of State pick and others,” said Rabiul Chowdhury, a Philadelphia investor who chaired the Abandon Harris campaign in Pennsylvania and co-founded Muslims for Trump. Muslim support for Trump helped him win Michigan and may have factored into other swing state wins, strategists believe.
Trump picked Republican senator Marco Rubio, a staunch supporter of Israel for Secretary of State. Rubio said earlier this year he would not call for a ceasefire in Gaza, and that he believed Israel should destroy “every element” of Hamas. “These people are vicious animals,” he added.
Trump also nominated Mike Huckabee, a former Arkansas governor and staunch pro-Israel conservative who backs Israeli occupation of the West Bank and has called a two state solution in Palestine “unworkable”, as the next ambassador to Israel.
He has picked Republican Representative Elise Stefanik, who called the UN a “cesspool of antisemitism” for its condemnation of deaths in Gaza, to serve as U.S. ambassador to the United Nations.
Rexhinaldo Nazarko, executive director of the American Muslim Engagement and Empowerment Network (AMEEN), said Muslim voters had hoped Trump would choose Cabinet officials who work toward peace, and there was no sign of that.
“We are very disappointed,” he said. “It seems like this administration has been packed entirely with neoconservatives and extremely pro-Israel, pro-war people, which is a failure on the on the side of President Trump, to the pro-peace and anti-war movement.”
Nazarko said the community would continue pressing to make its voices heard after rallying votes to help Trump win. “At least we’re on the map.”
Hassan Abdel Salam, a former professor at the University of Minnesota, Twin Cities and co-founder of the Abandon Harris campaign, which endorsed Green Party candidate Jill Stein, said Trump’s staffing plans were not surprising, but had proven even more extreme that he had feared.
“It’s like he’s going on Zionist overdrive,” he said. “We were always extremely skeptical…Obviously we’re still waiting to see where the administration will go, but it does look like our community has been played.”
The Trump campaign did not immediately respond to an email seeking comment.
Several Muslim and Arab supporters of Trump said they hoped Richard Grenell, Trump’s former acting director of national intelligence, would play a key role after he led months of outreach to Muslim and Arab American communities, and was even introduced as a potential next secretary of state at events.
Another key Trump ally, Massad Boulos, the Lebanese father-in-law of Trump’s daughter Tiffany, met repeatedly with Arab American and Muslim leaders.
Both promised Arab American and Muslim voters that Trump was a candidate for peace who would act swiftly to end the wars in the Middle East and beyond. Neither was immediately reachable.
Trump made several visits to cities with large Arab American and Muslim populations, include a stop in Dearborn, a majority Arab city, where he said he loved Muslims, and Pittsburgh, where he called Muslims for Trump “a beautiful movement. They want peace. They want stability.”
Rola Makki, the Lebanese American, Muslim vice chair for outreach of the Michigan Republican Party, shrugged off the criticism.
“I don’t think everyone’s going to be happy with every appointment Trump makes, but the outcome is what matters,” she said. “I do know that Trump wants peace, and what people need to realize is that there’s 50,000 dead Palestinians and 3,000 dead Lebanese, and that’s happened during the current administration.”
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