After the Parkland, Fla., shooting in February, executives companies across the country -- from Dick’s Sporting Goods and BlackRock to Enterprise Rent-a-Car and Delta-- made the controversial decision to cut ties with gunmakers and the National Rifle Association.
When President Trump announced the travel ban on several majority-Muslim countries last year, Microsoft chief Satya Nadella and Amazon’s Jeff Bezos openly voiced their opposition to the policy.
This kind of CEO activism, when corporate leaders take political or social stances that are “unrelated to the bottom line,” has taken off in recent years, explained Aaron Chatterji, Associate Professor at Duke University's Fuqua School of Business. He wrote about this trend in an article for the [Harvard Business Review](https://hbr.org/cover-story/2018/03/divided-we-lead).
There are three main factors driving this trend.
The first comes from inside the companies themselves -- the employees.
“A lot of millennials especially are pushing their bosses to speak out,” explained Chatterji.
Second is the increasingly polarized political climate.
“Being in the middle is really hard,” he said. “You see the middle sort of being hollowed out of both political parties. That’s where companies used to be, and [now] they’re forced to occupy one side or the other.”
And finally, social media gives CEOs “a microphone that’s always on” and access to direct conversations with their consumers.
But having a vocal CEO doesn’t come without risks.
“This is uncharted territory,” Chatterji said. “A lot of CEOs and companies are finding themselves getting burned by these activist stands,” because they open up the possibility of consumer backlash or even isolation from investors.
Many companies, though, also benefit from this movement. Chatterji pointed to Apple as an example.
After CEO Tim Cook called Indiana’s proposed religious freedom law “dangerous” in 2015, “we found...there were people who were more likely to buy Apple products.”
The Rev. Al Sharpton is set to lead a protest march on Wall Street to urge corporate America to resist the Trump administration’s campaign to roll back diversity, equity and inclusion initiatives. The New York civil rights leader will join clergy, labor and community leaders Thursday in a demonstration through Manhattan’s Financial District that’s timed with the anniversary of the Civil Rights-era March on Washington in 1963. Sharpton called DEI the “civil rights fight of our generation." He and other Black leaders have called for boycotting American retailers that scaled backed policies and programs aimed at bolstering diversity and reducing discrimination in their ranks.
President Donald Trump's administration last month awarded a $1.2 billion contract to build and operate what's expected to become the nation’s largest immigration detention complex to a tiny Virginia firm with no experience running correction facilities.
Chipmaker Nvidia is poised to release a quarterly report that could provide a better sense of whether the stock market has been riding an overhyped artificial intelligence bubble or is being propelled by a technological boom that’s still gathering momentum.
Cracker Barrel said late Tuesday it’s returning to its old logo after critics — including President Donald Trump — protested the company’s plan to modernize.
Low-value imports are losing their duty-free status in the U.S. this week as part of President Donald Trump's agenda for making the nation less dependent on foreign goods. A widely used customs exemption for international shipments worth $800 or less is set to end starting on Friday. Trump already ended the “de minimis” rule for inexpensive items sent from China and Hong Kong, but having to pay import taxes on small parcels from everywhere else likely will be a big change for some small businesses and online shoppers. Purchases that previously entered the U.S. without needing to clear customs will be subject to the origin country’s tariff rate, which can range from 10% to 50%.
Southwest Airlines will soon require plus-size travelers to pay for an extra seat in advance if they can't fit within the armrests of one seat. This change is part of several updates the airline is making. The new rule starts on Jan. 27, the same day Southwest begins assigning seats. Currently, plus-size passengers can pay for an extra seat in advance and later get a refund, or request a free extra seat at the airport. Under the new policy, refunds are still possible but not guaranteed. Southwest said in a statement it is updating policies to prepare for assigned seating next year.
Cracker Barrel is sticking with its new logo. For now. But the chain is also apologizing to fans who were angered when the change was announced last week.
Elon Musk on Monday targeted Apple and OpenAI in an antitrust lawsuit alleging that the iPhone maker and the ChatGPT maker are teaming up to thwart competition in artificial intelligence.
