Bloomberg assails Trump as destructive CEO

Michael Bloomberg, the billionaire entrepreneur and former New York mayor, launched a scathing attack on Donald Trump's business record in a bid to discredit the property developer's pitch to bring corporate skills to the White House.
Mr Bloomberg, who toyed with entering the presidential race as an independent candidate earlier this year, assailed Mr Trump at the Democratic convention in Philadelphia as a destructive chief executive and con artist.
"Throughout his career, Trump has left behind a well-documented record of bankruptcies, thousands of lawsuits, angry shareholders and contractors who feel cheated, and disillusioned customers who feel ripped off," he said.
"Trump says he wants to run the nation like he's run his business. God help us."
His speech stood out as a forthright appeal to independent voters who may be considering backing Mr Trump. It came from one of the event's more politically unusual speakers: Mr Bloomberg was elected New York mayor three times as a Republican, but has also been a Democrat and is now an independent.
He told his audience that too many Republicans wrongly blamed immigrants for the country's problems and that too many Democrats blamed the private sector.
"There are times when I disagree with Hillary [Clinton]," he added. "But whatever our disagreements may be, I've come here to say: we must put them aside for the good of our country. And we must unite around the candidate who can defeat a dangerous demagogue."
Mr Trump, whose career stretches from Trump-branded hotels and casinos to reality television, has argued that his business know-how will help him to energise the US economy, a pledge that has resonated with many Americans struggling with stagnant wages or unemployment.
Citing his own creation of Bloomberg, his eponymous financial information business, Mr Bloomberg said he knew business leaders could bring pragmatism to public office, but Mr Trump was not a problem solver but a "bomb thrower".
Mr Trump has rallied few high-profile business leaders to speak for him, but has generated a lot of support among small business people.
While Mr Bloomberg is well-known in elite circles and has campaigned hard for tighter gun control, he has a lower national profile - one factor that counted against his potential bid for the White House.
Before his speech, Judi Ingelido, a delegate from the swing state Colorado, said: "I honestly don't know much about him. I know he's been outspoken on some of our issues. He seems more establishment, but it's nice to have a couple of billionaires to help put that message out to others in their circles."
Addressing Mr Trump's isolationist views on trade and immigration, Mr Bloomberg accused him of "hypocrisy".
"Trump says he'll punish manufacturers that move to Mexico or China, but the clothes he sells are made overseas in low wage factories," Mr Bloomberg said. "He says he wants to put Americans back to work, but he games the US visa system so he can hire temporary foreign workers at low wages."
In one executive box where Wall Street moguls were watching with gin and tonics in hand, the fierceness of Mr Bloomberg's attack was greeted with shocked delight by some of those troubled by Mr Trump.
His speech had been preceded by speculation among Mr Bloomberg's allies about how far he would go, with some sending him emails just hours before he took the stage to stiffen his spine.
Mr Bloomberg's speech bore similarities to attacks on Mr Trump from senator Elizabeth Warren, a firebrand from the Democratic party's liberal wing.
But he differed by making a point of appealing to people who care about companies. "Trump's business plan is a disaster in the making," he said. "He would make it harder for small businesses to compete?…?threaten the retirement savings of millions of Americans, lead to greater debt and more unemployment."
Additional reporting by Gillian Tett in Philadelphia