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WHY BIG BUSINESS IS BRUSHING OFF CAMPAIGN TRAIL RAGE
This is a different kind of election year, full of contempt for Big Business. Billionaire flamethrower Donald Trump, who leads the Republican field, has gone after Ford Motor, Kraft Foods, and Apple, among others, for making things outside of the U.S. Ted Cruz presents himself as the nemesis of corporate welfare and crony capitalism. And democratic socialist Bernie Sanders has built an entire campaign around the refrain that Wall Street is guilty of “greed, fraud, dishonesty, and arrogance.”
Donald Trump on Oreos
You might have expected business to mount a vigorous defense. But corporate America has responded to the charges with murmurs. In this gladiators’ match, one side simply hasn’t shown up. Many chief executive officers believe that after the election is over and the noise of the campaign dies down, it will be business as usual for business. For now, they are turning the other cheek. When Trump ripped Ford for its plans to build a big factory in Mexico, the company’s CEO, Mark Fields, wrote Trump a pleasant note explaining that the carmaker was also adding jobs in the U.S. JPMorgan Chase CEO Jamie Dimon, who’s known for flashes of anger, calmly told CNNMoney in November that he thinks he could talk Bernie Sanders out of breaking up the big banks. “I don’t think Bernie’s going to win,” he said. “I’m not that worried.”
The nonchalance can come across as patronizing: Thomas Donohue, president of the U.S. Chamber of Commerce, dismisses as a campaign tactic Hillary Clinton’s opposition to the 12-nation Trans-Pacific Partnership (TPP) trade deal in its current form. “If she were to get nominated, if she were to be elected, I have a hunch that what runs in the family is you get a little practical if you get the job,” he told Bloomberg TV.
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http://www.bloomberg.com/features/2016-open-season-on-big-business/
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