Subject: Axios AM: Mike’s Top 10 – Trump skipping Alfalfa, Dow 30,000?, Snap IPO next week
From: "Mike Allen" <[email-masked]>
To: <[email-masked]>
Date: Sat, 28 Jan 2017 10:56:08 -0500 (EST)

Presented by BP:

Trump staying in tonight * What got done in Week 1 * How many years to D=w 30,000?

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Axios AM

By Mike Allen = ·Jan 28, 2017

Good Saturday morning, and happy Lunar New Year. It's the Yea= of the Rooster.

1 big thing: Trump snubs Alfalfa

The annual black-tie dinner of the Alfalfa Club is the =oard meeting of America's establishment: The 750 guests tonight include Wa=ren Buffett, Tim Cook, Jamie Dimon, Bill Gates, Bob Gates, Vernon Jordan, =harlie Rose, Jeb Bush, James Baker and plenty more moguls and grandees. Th= head table, stretching across a giant ballroom, includes the Cabinet, the=congressional leadership and the cream of the diplomatic corps.

=strong>President Trump's name is in the program, seated between M=chael Bloomberg and Chief Justice Roberts.

But in a shot at =he swamp, Trump isn't coming. The White House says he'll be worki=g, and never committed to going. Vice President Pence is still expected an= some West Wing officials, including Kellyanne Conway, plan to attend. Chi=f strategist Steve Bannon was going, but now will be with the president in=some briefings.

Others from the Trump inner circle =ho are expected: Jared Kushner, Reince Priebus, Gary Cohn, Hope Hicks, dep=ty chief of staff Katie Walsh, CIA Director Mike Pompeo, incoming SecState=Rex Tillerson, incoming SecDef James Mattis and incoming Commerce Secretar= Wilbur Ross. Dina Powell, Trump's senior counselor for economic initiativ=s, is a "sprout" – an inductee to Alfalfa.

The eveni=g includes funny speeches, with plenty of barbs aimed at the pres=dent. During the debate over whether Trump should go, some aides worried t=at a zinger might rankle the boss. Now they won't have to fret about the p=ercing comedy stylings of Mayor Bloomberg and Erskine Bowles.

​2. Extreme vetting brings …

… extreme chaos. Last night's executive order s=spending refugee entry took immediate effect, with some losing admissibili=y in middair. Migrants are being detained at U.S. airports and blocked fro= boarding planes.

Legal challenges are being filed=to Trump's order this morning by lawyers at ports of entry, seeking to hav= clients released. The N.Y. Times says the order "created a legal limb= for individuals on the way to the United States and panic for families wh= were awaiting their arrival."

What the order does, per AFP: "Trump's order suspends entry of all refugees to the United =tates for 120 days and indefinitely halts the admission of refugees from S=ria. It also bans entry into the United States from travelers from seven p=edominantly Muslim countries -- Iraq, Syria, Iran, Sudan, Libya, Somalia a=d Yemen -- for 90 days.

What it means, via The Guardian: "It will amount to a de facto ban=on Muslims traveling to the US from parts of the Middle East and north Afr=ca by prioritising refugee claims 'on the basis of religious-based persecu=ion.'"

Religious test: Trump told t=e Christian Broadcasting Network's David Brody<=a> that persecuted Christians will be given priority: "If you were a Musli= you could come in, but if you were a Christian, it was almost impossible =E2�� I thought it was very, very unfair. So we are going to help them.=

The reaction of Sen. Chuck Schumer= "Tears are running down the cheeks of the Statue of Liberty tonight."

​3. Truth on tape

At the GOP congressional retreat in Philadelphia, the WashPost was leaked (from an=anonymous e-dress) a remarkable recording of a session in which House memb=rs and senators express profound doubts about how to get rid of Obamacare,=partly because of lack of guidance from Trump: "The thorny issues with whi=h lawmakers grapple on the tape — including who may end up either =osing coverage or paying more under a revamped system — highlight =he financial and political challenges that flow from upending the current =aw."

Our take: This is not a new story, on the=substance, to anyone who talks to Republican off the record. This anguish =as been a hallmark of their tortured views for years: While they loathe Ob=macare, they fear taking — or to be portrayed as taking — =nsurance away from the poor or sick. Plus, a replacement is something that=sounds awesome in theory but is bedeviling in practice. But the leak tape =s juicy.

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​4. The Trump Show

A day after Steve Bannon called the press "the opposition party," Trump =epeated the phrase in an interview with CBN's David Bro=y: "I'm not talking about everybody, but a big portion of the media =E2�� the dishonesty, total deceit and deception. It makes them certain=y partially the opposition party, absolutely. I think they're much more ca=able than the opposition party. The opposition party is losing badly. Now =he media is on the opposition party's side."

Week 1 -- =hat got done: Axios' Stef Kight has a dizzying list of everything Trump di=.

"Washington … is flummoxed" – Th= Wall Street Journal headlines its front-pager "TRUMP'S W=EK ONE: OFF SCRIPT": "Trump's first week as president suggests he is plann=ng to run his administration much like he ran his company and his election=campaign: eager to weigh in on every issue—both matters of state a=d matters of perceived slight—and willing to make impulsive calls =n a way that is at odds with a city that usually tries to run on a script.=During one meeting with the congressional leadership, he mused about getti=g rid of the Electoral College."

​5. Wall could help Trump rally

A business-front-piece in tomorrow's N.Y. Times says companies are sa=ivating about Trump's wall plans: "Among the possible winners are construc=ion firms, high-tech surveillance companies and cement manufacturers inclu=ing, in what would be an ironic turn, one of Mexico's largest materials co=panies."

The betting: "The stocks of several c=nstruction companies and cement and concrete manufacturers jumped after th= latest talk from Mr. Trump, as investors bet … also [on a payday]=from proposals floated for about $1 trillion in infrastructure projects.

6. Tracking power

Chris Lehane -- veteran of the Clinton White House and Gore campaign, no= head of policy for Airbnb -- gets a front-page profile from WashPost's Elizab=th Dwoskin in San Francisco: "As the $30 billion company prepares to go pu=lic, Lehane, 49, is the architect of the effort to turn the Airbnb brand =E2�� 'vacation rentals for hip millennials' — into a popular m=vement."

The style: "Lehane rarely wears t=e tailored Italian suits that he was known for during his days as a Washin=ton operative. Now he favors the Silicon Valley uniform of jeans and Patag=nia vests. He no longer plants political attacks in the news media �=A6 Instead, he opts for TV spots that feature happy middle-class families =romoting Airbnb."

The strategy: "In New York, he =s funding a super PAC to support pro-Airbnb candidates. During his first f=w weeks on the job, in August 2015, he even reached out to former Army gen=rals to ask for advice on how to wage war on a new scale."Chris Lehane �=80� veteran of the Clinton White House and Gore campaign, and now head o= policy for Airbnb – gets a front-page profile from WashPost's Eli=abeth Dwoskin in San Francisco: "As the $30 billion company prepares to go=public, Lehane, 49, is the architect of the effort to turn the Airbnb bran= — 'vacation rentals for hip millennials' — into a popular=movement."

​7. Trending in business

The cover of Barron's is "Next Stop: Dow 30,000," per Gene Epstei= and Jack Hough: "History suggests that this aging bull market can live on= … In fact, if … Trump can avoid stumbling into a trade wa=—or a real war—there's no reason the Dow Jones Industrial =verage can't exceed 30,000 by the year 2025."

The bullish c=se: "If Trump can succeed in reducing regulation and lowering corporate ta=es, stocks should surge further this year. An additional 5% or even 10% ga=n in 2017 wouldn't be surprising."

The bearish case: "Border-adjus=ed taxes that reward exporters and pinch importers could backfire, as well= raising prices and damping growth. And a rising dollar could cut into U.S= earnings growth."

At the Big 3 auto=akers' meeting with Trump on Tuesday, Ford CEO Mark Fields told t=e president that 1 million U.S. jobs are at risk if fuel-economy rules are='t more flexible. (Bloomberg's Jamie Butters)

​8. Tops in tech

Recode's Kara Swisher scoops: "Snap plans to publicl= file for its much-anticipated IPO late next week."

Goog=e's Sundar Pichai (in an email to employees) and Facebook's Mark =uckerberg (guess where) spoke out against Trump's executive order banning =eople from seven Muslim-majority countries from entering the U.S.

<=i>Why Silicon Valley cares, per Axios' Kim Hart: "Silicon Valley com=anies rely on temporary visas for high-skilled foreign workers to fill tho=sands of engineering and technical jobs say they can't fill with domestic =alent."

TechCrunch broke the news that Recod= senior editor Ina Fried is=joining Axios as chief tech correspondent, based in San Francisco. Ina=said: "If someone's done a great job explaining something, one of the thin=s that Axios does is highlight that and distill it … I'm a scoop r=porter, I want to break stories for sure, and I also want to point people =o the best things I'm seeing and reading and add a counterpoint occasional=y."

​9. Paths to greatness

We're fascinated by all the little quirks and rituals that have helped m=ke Tom Brady the favored Super Bowl quarterback, six months before he turn= 40. Here's=a new one: "Last February, Brady had a digital clock installed in his =orkout room at home that ticks down the days, hours, minutes and seconds t= the 2017 Super Bowl, so that he would know 'that he had exactly 11,325 mi=utes and 14 seconds to go, Brady's father Tom Sr. said."

​10. 1 fun thing

AP

The price of tickets for Super Bowl 51 (in Houston a week from tomorrow)=are down 9% from last year, per Stubhub, partly becau=e of a selloff after the Dallas Cowboys were eliminated: "The average pric= for a ticket at StubHub on Friday was $4,945 with the cheapest ticket goi=g for $2,499 and the most expensive one sold to date going for a whopping =15,432. … Fans in Texas have bought 38 percent of the tickets �=80� []Fans from Georgia (14 percent) and Massachusetts (13 percent) are =econd and third."

HAPPY WEEKEND, and thank you =or reading. Just reply to this email to send me your thoughts and suggesti=ns, links from your favorite reading and listening, and your news tips.

Axios, 3100 Clarendon B‌lvd, Suite 200, Arlington VA 22201

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