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How Trump negotiates: The Art of the Deal's deal

For the Axios HBO series, we interviewed people who've negotiated with Donald Trump throughout his life in business and in politics. One very Trumpian story came from Peter Osnos, the editor of Trump's 1987 book "The Art of the Deal."

Here's Osnos to Axios/HBO: "When the idea of meeting with Trump came up ... I thought to myself how do we impress Donald Trump? So I went to my shelf and took 'Generations of Winter' by the wonderful Russian writer Vasily Aksyonov. Nice big fat Russian novel."

"We got some black shiny paper and some gold leaf. And we made a cover and we brought it to him and said this could be your book. I think the only thing he said when he saw it was, 'Could be a little bit bigger.'

There was no lawyer. There was no agent. Extraordinarily and very quickly he wanted to do it. Why not? I would say having now been in publishing for a very long time, it's one of the simplest deals that I ever had.

And that's how we brought Donald Trump and the Russians together in 1986."

Go deeper: Inside Trump's negotiating style

Go deeper

Courtenay Brown
34 mins ago - Economy & Business

2020 was the economy's worst year since 1946

Source: FRED; Chart: Axios Visuals

The U.S. economy grew at a 4% annualized pace in the last quarter of 2020, meaning the economy shrank by 3.5% for the full year, the government said on Thursday.

Why it matters: One of the last major economic report cards of the Trump era shows a sharp slowdown in growth compared to the previous quarter, as the pandemic got worse and government aid petered out. It was the worst year for the economy since 1946 and the first time GDP shrank since 2009, when it fell 2.5% during the Great Recession.

Dion Rabouin, author of Markets
2 hours ago - Economy & Business

How GameStop exposed the market

Illustration: Eniola Odetunde/Axios

Retail traders have found a cheat code for the stock market, and barring some major action from regulatory authorities or a massive turn in their favored companies, they're going to keep using it to score "tendies" and turn Wall Street on its head.

What's happening: The share prices of companies like GameStop are rocketing higher, based largely on the social media organizing of a 3-million strong group of Redditors who are eagerly piling into companies that big hedge funds are short selling, or betting will fall in price.

Go deeper (2 min. read)Arrow
Caitlin Owens, author of Vitals
2 hours ago - Health

Who benefits from Biden's move to reopen ACA enrollment

Photo: Chip Somodevilla/Getty Images

Nearly 15 million Americans who are currently uninsured are eligible for coverage on the Affordable Care Act marketplaces, and more than half of them would qualify for subsidies, according to a new Kaiser Family Foundation brief.

Why it matters: President Biden is expected to announce today that he'll be reopening the marketplaces for a special enrollment period from Feb. 15 to May 15, but getting a significant number of people to sign up for coverage will likely require targeted outreach.

Go deeper (<1 min. read)Arrow