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President Donald Trump returns to the White House Monday after his vacation in Bedminster, NJ (Alex Brandon / AP).

According to an executive who was involved in today's decision to disband President Trump's top outside business board, the CEOs decided they "couldn't justify the capital they were spending, hoping that this guy can function in a somewhat mature and statesmanlike way."

Trump used a tweet to preemptively shut down his top two business councils as soon as word leaked about the coming snub by the members of the President's Strategic and Policy Forum, chaired by Blackstone CEO Steve Schwarzman.

The executive told me: "Everyone knew, going in, that this was the way the guy was. They were just hoping that if he got the right people and decisionmaking processes in place, he could grow into the job. He proved he has no capability to do that." Yesterday's presser about Charlottesville was the last straw.

Why it matters … Axios CEO Jim VandeHei just told Nicolle Wallace on MSNBC: "Today is an awful day for the presidency – an awful day. … Hedid have those business leaders, who he needs: He's about to do tax reform! He's about to ask them to spend money, to spend political capital, to spend time to go get tax reform done."

  • "Now he has a massive public rebuke, in a way that we have not seen at any point in the Trump reign. So there's no way for them to spin it. And I think it gets worse: These CEOs are under so much pressure – internally, at home – in their own households."

Go deeper: Full recap on Trump's councils shutting down.

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Go deeper

The Biden protection plan

Joe Biden announces his first run for the presidency in June 1987. Photo: Howard L. Sachs/CNP/Getty Images

The Joe Biden who became the 46th president on Wednesday isn't the same blabbermouth who failed in 1988 and 2008.

Why it matters: Biden now heeds guidance about staying on task with speeches and no longer worries a gaffe or two will cost him an election. His staff also limits the places where he speaks freely and off the cuff. This Biden protective bubble will only tighten in the months ahead, aides tell Axios.

Bush labels Clyburn the “savior” for Democrats

House Majority Whip James Clyburn takes a selfie Wednesday with former President George W. Bush. Photo: Patrick Semansky-Pool/Getty Images

Former President George W. Bush credited Rep. James Clyburn with being the "savior" of the Democratic Party, telling the South Carolinian at Wednesday's inauguration his endorsement allowed Joe Biden to win the party's presidential nomination.

Why it matters: The nation's last two-term Republican president also said Clyburn's nod allowed for the transfer of power, because he felt only Biden had the ability to unseat President Trump.

GOP research firm aims to hobble Biden nominees

Alejandro Mayorkas. Photo: Joshua Roberts/AFP via Getty Images

The Republican-aligned opposition research group America Rising is doing all it can to prevent President Biden from seating his top Cabinet picks.

Why it matters: After former President Trump inhibited the transition, Biden is hoping the Republican minority in Congress will cooperate with getting his team in place. Biden hadn't even been sworn in when America Rising began blasting opposition research to reporters targeting Janet Yellen and Alejandro Mayorkas.