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28 Oct 2020

Andrew Edgecliffe-Johnson

Commentary: Corporate America is breaking with Donald Trump

... Leading US industry associations, chief executives, investors and business school professors have issued oblique rebukes of Donald Trump’s suggestions that he may not abide by the results of next week’s election if he does not like them... Whether hesitant or hyperbolic, these statements all carry the same message: there is a growing consensus in corporate America that Mr Trump is no longer good for business. That represents a sharp change since the start of the president’s term, but also an understandable consequence of what has happened since. 

... [A]s big companies embraced “stakeholder” causes, from inclusion to environmentalism, Mr Trump espoused a dated caricature of capitalism... His inattention to issues such as economic inequality, racial injustice and climate change also forced reluctant CEOs to fill the void by speaking out on politically charged topics... If a peaceful transfer of power looks doubtful, BSR’s Mr Cramer says, top executives would quickly make their alarm public, not least to congressional Republicans, who understand the risk of alienating donors.