A congressional riot triggered political turmoil in the United States at the time of the presidential election, and also ignited the anger of the American business community.
From blocking Trump’s social accounts to suspending political donations to Republicans, American business giants have made no secret of their positions.
The Wall Street Journal, Jan. 15 “How did congressional riots push big American companies deep into politics?” For the title, it tells the tension between American enterprises and politics behind the congressional riots.
U.S. businesses scramble to “disarange” from the president and even the Republicans after the January 6 congressional riots: Twitter blocked Trump’s account; publishers Simon & Schuster canceled the publication of a new book by Republican Senator Josh Hawley ; Financial services company Stripe stopped processing payments directly for Trump’s fund-raising organizations; hotel giant Marriott International, chemical giant Dow and other companies announced the suspension of political donations from Republican lawmakers, while other companies simply suspended all political donations.
The article said that these actions are very different from the era when enterprises try to show no concern for politics.
Judy Samuelson, founder and executive director of the Business and Society Project at the Aspen Institute, a think tank, said that according to the rules of thumb, if there is no direct connection with the company’s business, the enterprise will basically stay away from politics. Zhi, and now “we have seen a collection of social problems that used to be outside the scope of corporate executives’ comments.”
The article points out that in a more politicized and divisive era, employees, shareholders and customers can use social media at any time to vent their dissatisfaction or exert pressure. Leaders are expected to speak out on some issues, but the latter also has to assess the risks of doing so.
The current chaotic political situation in the United States disturbs entrepreneurs.
As of January 11th local time, more than 40 large companies have said that they are reviewing or suspending the donation expenditure of the Corporate Political Action Committee (PAC, which is through this institution in the United States).
Recently, about 40 corporate CEOs discussed the political uncertainty in the United States in a videoconference.
Jeffrey Sonnenfeld, a professor at Yale School of Management, who presided over the conference, revealed that these executives talked about the flooding all over the United States. Threats of violence, sharing plans to strengthen security and monitoring facilities with each other.
There are also enterprises with a long-term vision. IBM released a series of “good government reforms” on the 15th, calling for the updating of the presidential transition procedures, police reform, etc.
The company believes that the company should consider policy reform, not the review of the political action committee.
Some business leaders pin their hopes on the incoming Biden administration.
Ken Langone, co-founder of The Home Depot, an American home decoration and building materials retailer, said he felt betrayed by Trump.
In an interview with The Wall Street Journal, Langone said: “I am loyal to my president, to the government officials who serve us…
Although Biden has a lot of things I don’t like, this is not the point. His success is in my interest.”
The congressional riots are the tipping point of the backlog of hostility and division in the four years of Trump’s administration.
For the business community, they need a stable political environment. The New York Partnership, which represents 100 business leaders and employers in New York City, has recently sent two letters urging the U.S. Congress to peacefully transition power.
“The business community’s interest is to stabilize the political arena, not to further destroy it,” said Kathryn Wylde, president of the New York Cooperation Organization.