Corporate America Flexes Its Political Muscle
Big business breaks with Republicans.
By Andrew Ross Sorkin and David Gelles
It was a long week in the fraught relationship between Washington and corporate America. Dozens of companies announced that they will end political donations to the Republicans who challenged the Electoral College count, or pause giving to all politicians.
Today, we reflect on the shifting political positions of the corner office. My colleague David Gelles spent the week canvassing C.E.O.s and trying to make sense of what happens next in a smart piece presented below.
Before we go deeper, to better understand this moment it is worth considering the results of an informal poll of 40 top executives conducted by Jeffrey Sonnenfeld of the Yale School of Management. Mr. Sonnenfeld regularly gathers C.E.O.s to gauge their views on the most important issues facing their companies, and he did so virtually this week amid increasing alarm in the business community at what they witnessed in Washington. The results are revealing. Here’s a selection:
Did President Trump help incite last week’s violent attack on Congress?
Yes: 100 percent
No: 0 percent
Should President Trump be impeached and removed from office?
Yes: 96 percent
No: 4 percent
Was it right for the social network tech firms to block President Trump from their platforms?
Yes: 85 percent
No: 15 percent
Should business PACs and trade associations cut off donations to legislators who aided sedition?
Yes: 100 percent
No: 0 percent
Do you think Washington will be under attack a week from today, January 13, from domestic terrorists?
Yes: 82 percent
No: 18 percent
The result for that final answer is scary. Let’s hope it turns out to be wrong. — Andrew
Corporate America flexes its political muscle: ‘We need to stabilize. We need certainty.’
By David Gelles
The longstanding alliance between big business and the Republican Party is being tested as never before.
As President Trump and his allies sought to overturn the election results in recent months, chief executives condemned their efforts and called on Republicans to stop meddling with the peaceful transfer of power.
Now, in the aftermath of the deadly Capitol rampage by Mr. Trump’s supporters, corporate America is turning its back on many senior Republicans, and flexing its political muscle.
One major trade group called on Mr. Trump’s cabinet to consider removing him from office. Dozens of companies, from AT&T to Walmart, have said they will no longer donate to members of Congress who opposed the Electoral College certification of President-elect Joseph R. Biden Jr.
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