Corporate America supports ‘vigilance’ - it is worth it

Corporate America supports ‘vigilance’ – it is worth it

How Progressive is Corporate America? On Wednesday, a news item titled ‘We support democracy’ appeared in various media. Beneath it were the names of hundreds of companies and their owners, executives and the media and some celebrities from the film world like George Clooney and Kate Hudson. “American democracy must work for each of us, and we must ensure that the right to vote extends to all of us,” the signatories added.

The target of this campaign is 361 laws in 47 states Republican lawmakers are trying to restrict the right to vote at the state level. In their own words, this is a guarantee of the fairness of the election. But on closer inspection it appears to be primarily an attempt to strengthen as much as possible the declining power of the Republicans.

“We must all take responsibility for protecting the right to vote and for resisting any discriminatory laws or regulations that deny any citizen the right to vote,” the signatories said in their statement.

The ad was signed by Wells Fargo, American Airlines, fashion brand Lewis and technology companies such as Facebook, Amazon, Google, Twitter and Apple. This is the final part of a week-long campaign led by businessmen Kenneth Senold (former CEO of American Express) and Kenneth Frasier (CEO of Merck Pharmaceuticals). Black Economic Alliance.

This is not the first manifestation of what is now called ‘corporate awareness’ in the United States, but the increased sensitivity in business to the left-leaning sound box of social media. In the past major events that have attracted national attention, such as the law harming transgender people, the exemption of activist American footballer Colin Copernicus, the death of George Floyd and the Black Lives Matter protests or the Capitol storm in early January, many companies have also supported the progressive part of the country.

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Activists questioned whether that attitude in the business world really reflected a new awareness of social issues, or whether it was a financially necessary alternative under the pressure of an influential social media activity.

A public statement is an effective and inexpensive way to position yourself on the ‘right side of history’.

On the left side of the spectrum – which is a younger, more educated and more affluent market than on the right – issues such as unfriendly women and discrimination are simply considered superior. Companies that are guilty of this are being purged on social media. A public statement in difficult times is then an effective, inexpensive way to position yourself on the ‘right side of history’.

JPMorgan Chase, PayPal and Microsoft pledged to support diversity and higher equal pay after the death of George Floyd. They kept that promise

But the social position of the business is not limited to statements and is very consistent. Companies such as PayPal, Microsoft and JPMorgan Chase pledged to make large sums available after George Floyd’s death to promote diversity in the labor market and bridge the gap between white and black workers’ wages. They kept that promise. From the business world as a whole More than 8 billion special funds.

In his annual letter to shareholders, Jamie Dimon, chairman of JPMorgan Chase Bank, believes this week is essential to tackling inequality in the United States: From significantly higher minimum wages to the improvement of the social security web. Timon specifically refers to George Floyd, whose death “exposed the deep inequality in our country and its catastrophic consequences.” JPMorgan Chaso, Dimono, did not sign the ‘Democratic Advertising’.

Coke

The companies on the list promise to carry out their call “regardless of our political affiliation”.

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But Republicans do not believe it. Open protests against their law have caused unrest within the Republican Party. As a traditional corporate lawyer, he must determine his position in the face of this corporate process.

When Coca-Cola and Delta Airlines ruled against a law in the state of Georgia, the Republican-dominated legislature gave it more or less the last word in elections.

Since then more and more companies have opposed the law and threatened boycotts. The primary league of American baseball decided not to hold the annual All-Star Game in Georgia. And film star and producer Will Smith has decided on his new film Release Not to be registered in Georgia as planned.

Immediately, Republican leader Mitch McConnell reprimanded them. “Don’t get involved in politics,” he told the business community over the heads of journalists. But he returned a day later, saying “companies have the right to participate in the political process.” It makes sense for a man to receive millions of institutional donations in his 2020 Senate race.

If McConnell had run his finger past the signatories of the report on Wednesday, he would have been counting on his head. American Airlines: $ 46,617. Bank of America :, 7 28,725. Goldman Sachs: $ 27,579. And so on.

The first section of the Republican Party in the United States says the issue of denouncing corporate awareness is low. Former President Trump and his supporters spearheaded the cultural shift suggested by progressive Americans.

In his speeches, Trump denounces what he is Cancel culture Specifies: Calls for recent boycotts or layoffs to Toyota’s address. The carmaker has promised to “reconsider” its financial support after the Capitol was attacked by representatives of the people who voted against Biden’s election. It was only a month later that it became clear that they supported such a Republican representative.

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Trump and his supporters can withstand their war stance. Far less than traditional Republicans, populists in the party rely on donations from large corporations. Trump has created a new campaign group called “Save America” ​​and is attracting millions in small donations from private individuals – like Bernie Sanders from the right.

More donations to Trump

Reuters news agency reported the news last month Donations from private individuals to Republicans loyal to Trump are on the rise, far more than the loss of corporate support. The Reuters news agency concluded that ten large corporations, known as political action groups, collectively deposited election donations, 90 percent less in January 2017 than in January 2017. However, Republicans raised more than $ 2 million in donations in January. Then the Democrats.

Conclusion: Some companies that have publicly awakened have made some changes. Take the Jet Blue plane that signed the ‘Democracy Advertisement’ on Wednesday. According to the Bloomberg News Agency, this is the first company to stop donating to MPs who do not recognize Biden’s election. It gave 1,000 to Republican Representative Nicole Malliotakis from New York. “We are giving the same amount of money to both parties,” Jet Blue said in a statement. Malliotagis sits on the aerospace oversight committee, and according to a report, Jet Blue is one of the most important politicians for their business operations. The hashtag #BoycottJetBlue immediately appeared on social media.

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