“Weaponized corporate America. Customers need to respond with their wallets.’
The Democrats have weaponized the DOJ, IRS, SEC, and other federal agencies. If a corporation doesn’t get in line with the agenda of the day, investigations will be launched, with a media firestorm, the stock price will tank, and the board members will fear the federal and state governments will be investigating them as well. Even if the board members and high level executives are pure as the driven snow, three or four years of legal fees to defend themselves from government investigators will bankrupt them.
Boards have a fiduciary and legal obligation to maximize shareholder value. A protracted baseless “investigation” will cost a company millions of dollars, suppress the stock price, make vendors reluctant to do business with the company, and cause customers to look for alternative suppliers.
So today the CEO can get in line with the social justice warriors, thereby keeping the dogs away, or take a stand and reap the whirlwind. If the CEO doesn’t get in line, the board of directors will fire the CEO and put someone more compliant in place. Any CEO and board will take a 5-6% temporary reduction in sales over a multi-year DOJ/IRS/FBI/SEC fishing expedition accompanied by weekly news leaks suppressing the stock price. Likely the federal officials will also be putting the pressure on the firm’s banks and major customers as well.
Any backlash from conservatives will be short-lived. Look at the NFL. The audience is returning and the younger “woke” crowd will applaud anyway. Businesses know most conservatives are older and dying off. They are lining up with their progressive customers of the future.
This is today’s corporate America responding to the tyrannical state for self preservation.
Seems like this GA bill is just a sub battle of HR1. The Dems are planning on ramming through HR1 and are using GA as a “racist” strawman.
I can’t say I feel sorry for Kempt. This is the bed the GA GOP made. Now they get to lay in it.