ALL RIGHT EVERYONE WILL
MICROSOFT FACEBOOK AND GOOGLE
ANNOUNCING THEY WILL PAUSE ALL
POLITICAL
SPENDING FOLLOWING THE RIOT AT
THE CAPITOL LAST WEDNESDAY
FINANCIAL FIRMS LIKE GOLDMAN
SACHS JP MORGAN CITIGROUP ALSO
SUSPENDING POLITICAL
CONTRIBUTIONS AND COMPANIES
LIKE COMCAST FRIES AND AREA
AND ATNT THEY'VE DECIDED TO
SUSPEND CONTRIBUTIONS TO
MEMBERS OF CONGRESS WHO VOTED
TO OVERRIDE THE RESULTS OF THE
ELECTION JOINING ME TO DISCUSS
IS ERICA NEWS OF LAW AND
BUSINESS PROFESSOR FOR THE ROSS
SCHOOL OF BUSINESS AT THE
UNIVERSITY OF MICHIGAN ERIC
GREAT TO HAVE YOU WITH US ON
THE DAY AND THANKS FOR TAKING
THE TIME TIME WE WE'VE GOT TO
BREAK THIS DOWN A LITTLE BIT
FURTHER BECAUSE IS THIS
CORPORATE AMERICA'S WAY OF
COVERING THEMSELVES HERE ARE
THEY GENUINELY TRYING TO IMPART
SOME CHANGE.
>> I THINK IT'S A LITTLE BIT OF
EACH MEAN AN INTERESTING THING
ABOUT THIS STORY IS HOW MUCH
MONEY'S INVOLVED. IF YOU LOOK
AT THE STORY TO THE OTHER END
OF
THE TELESCOPE. IT'S NOT
NECESSARILY A STORY ABOUT THEM
STOPPING THE SPENDING BUT ALL
OF THE SPENDING THEY'VE BEEN
DOING SOME OF THEM, I THINK ARE
STOPPING
BECAUSE THEY GENUINELY
SUGAR AND WHAT THE SCENE
MICHIGAN BY THE ACTIONS OF
PARTICULAR POLITICIANS, THEY'RE
QUESTIONING THEIR ROLES.
OTHERS OF THEM. I THINK ARE
JUST DUCKING FOR COVER
AND WE'LL SEE THEM BACK WITH
THEIR CHECKBOOKS OPEN IN THEIR
PENS READY. PRETTY QUICKLY.
WHY IS THIS THE FIRST TIME THAT
COMPANIES AND ORGANIZATIONS ARE
DOING THIS THEY HAD TIME TO DO
THIS WHEN THERE WAS SEPARATION
OF CHILDREN FROM FAMILIES AT
THE BORDER WALL THEY HAD TIME
TO DO THIS. WHEN THERE
WAS A 0 TOLERANCE APPROACH ON
DHAKA SEEMINGLY COMING DOWN IN
TIME TO DO THIS WHEN THERE WAS
AN TIME MUSLIM BAN THAT WAS
BEING PUT
IN PLACE AS WELL FROM THE TRUMP
ADMINISTRATION, HOWEVER, THEY
WAITED UNTIL 11 DAYS
ESSENTIALLY BEFORE THE TRUMP
ADMINISTRATION TO TAKE MORE OF
A CONCERTED APPROACH ON THE
PRESIDENT HIMSELF AND SOME OF
HIS NEIGHBORS.
YEAH, I THINK WHAT'S GOING WHAT
THAT SHOWS IS THAT
CORPORATIONS REALLY WANT TO
KEEP THE INFLUENCE THEY HAVE
THE INFLUENCE THEY HAVE TO THE
BIG CHECKBOOKS. THEY THEY DON'T
WANT TO CUT OFF THAT THAT IN
FLOYD SING ABILITY. SO THEY
HAVE TO ON TO THE LEFT OR THE
RIGHT TO PUT THEIR HEADS IN THE
SAND ABOUT A LOT OF ISSUES THAT
ARE IMPORTANT. I THINK THEY
FINALLY FELT. THE PUBLIC
RELATIONS DAMAGE FROM NOT
ACTING NOW HOW WAS GREATER THAN
IT WOULD BE IF THEY ACTED THEY
MIGHT BE WRONG
ABOUT THAT. AGAIN I THINK THEY
WILL BE BACK IN THE GAME PRETTY
SOON. BUT YEAH, IT SURE HAS
TAKEN A LONG TIME. WHAT'S A
CONSUMER TO MAKE OF THAT.
YOU KNOW I IT'S INTERESTING THE
CONSUMER THING IS SOME RISK FOR
THESE
COMPANIES BECAUSE REMEMBER
ABOUT 70 4 MILLION PEOPLE DID
VOTE FOR MISTER TRUMP IF 10% OF
THEM ARE UNHAPPY SOMETHING THAT
CORPORATIONS ARE DOING THAT
COULD LEAD TO A LOT OF LOSS
OF DISNEY. ON THE OTHER HAND IF
YOU DON'T DO SOMETHING YOU HAVE
CONSUMERS GOING THE
OTHER WAY. THE COMPANIES AN
INTERESTING THING WHEN WHEN
THEY GOT INVOLVED IN
POLITICAL ISSUES. YOU CAN'T
JUST GET INVOLVED IN NOT BE
INVOLVED YOU MAKE SOME PEOPLE
HAPPY YOU MAKE SOME PEOPLE
UNHAPPY, IT'S
A RISK.
>> ONE OF THE NEWS OF THE DAY
ITEMS WE'RE LEARNING THAT
DEUTSCHE BANK WILL NO LONGER DO
BUSINESS WITH PRESIDENT TRUMP.
THE COMPANY HAS REPORTEDLY
DECIDED TO REFRAIN FROM FUTURE
BUSINESS WITH THE PRESIDENT
AFTER THE DEADLY RIOTS
AT THE CAPITOL LAST WEEK THIS
MOVE IS GOING TO CUT OFF HIS
BUSINESS FROM A SOURCE OF LOANS
THAT ONCE FUNDED HIS GOLF
COURSES
AND HOTELS, WHAT DOES THAT MEAN
FOR
A FUTURE CITIZEN TRUMP ONCE
HE'S ABDICATED THE PRESIDENCY
LATER THIS MONTH.
>> WELL, IT'LL BE INTERESTING
TO SEE FRIENDS HE
HAS IN. YOU KNOW WHAT KINDS OF
LIFELINES THAT ALL BUSINESSES
NEED SO MISTER TRUMP BORROWS A
LOT OF MONEY EVERYBODY IN REAL
ESTATE BORROWS A LOT OF MONEY,
ANYBODY IN REAL ESTATE WHO
CAN'T OUR MONEY IS GOING TO BE
OUT
OF REALIST YOU KNOW
POST-PRESIDENTIAL LIFE MIGHT BE
QUITE DIFFERENT AND LIFE AS
A PRESIDENT.
>> OKAY SO GOING FORWARD FROM
HERE THINKING ABOUT THE
BUSINESSES THAT WE WERE JUST
DISCUSSING WHO
HAVE ACTED ALL IN ONE ACCORD
SEEMINGLY FOR THE MOST PART
GOING FORWARD THERE'S STILL
GOING TO HAVE A BROADER
QUESTION OF WHAT DOES OUR
SPENDING LOOK LIKE KNOWING THAT
WE'VE GOT A NEW ADMINISTRATION.
COMING IN AND DONATIONS TO
POLITICAL CAMPAIGNS. A LOOK OR
SEEM DIFFERENT.
THEN LOBBYIST SPENDING KNOWING
THAT YOU'RE GOING TO HAVE A NEW
ADMINISTRATION NEW POLICIES AND
NEW ATTEMPTS
AND PASSING BILLS THROUGH
CONGRESS AS WELL AND SO WHERE
DO YOU EXPECT THAT SPENDING TO
BREAK DOWN OR DIVERGED IF YOU
WILL. I THINK THEY'RE GOING TO
BE SPENDING MORE THAN EVER BOTH
FOR A LOBBYIST AND POLITICAL
CONTRIBUTIONS BECAUSE THEY FACE
A LOT OF CHANGES AND WHEN
THEY'RE CHANGES PEOPLE CAN
BE HURT.
>> THEY'VE HAD TO TRUST LAWS
ENFORCED DIFFERENTLY IF TAXES
GO UP IF INFRASTRUCTURE
SPENDING IS SPENT IN ONE
COMPANY NOT IN
ANOTHER COMPANY. A LOT A LOT IS
GOING TO BE GOING ON THAT'S
GOING TO BE ON THE TABLE AND
THAT MEANS THEY'RE GOING
TO CORPORATIONS WE'RE GOING TO
BE LOBBYING LIKE CRAZY AND COME
YOU KNOW WE HAVE THE 2022
CONGRESSIONAL TO BUY ELECTIONS.
THEY'RE GOING TO BE TIGHT
THEY'RE GOING TO
BE HARD FOX CORPORATIONS ARE
NOT GOING TO WANT TO LOSE THEIR
INFLUENCE BY BEING OUT OF THE
CONTRIBUTION GAME.
>> OK AND OF COURSE WE DO KNOW
THAT THE HOUSE IS MOVING ON
IMPEACHMENT BUT OTHER THAN THAT
LONG THERE'S REALLY NO
REPERCUSSIONS FOR POLITICAL
LEADERS THE RIOT
ON IN CORPORATE AMERICA,
FILLING THE WHAT DOES THAT SAY
FOR THE STATE OF OUR COUNTRY
RIGHT NOW ARE.
>> WE'RE PRETTY DIVIDED WE JUST
SO DIVIDED.
♪
IT'S HARD TO SEE HOW WE'RE
GOING TO BE LESS DIVIDED.
WE DON'T SEE MUCH OF A SENSE
OF CONCILIATION THE ARTICLES OF
IMPEACHMENT ARE LIKELY TO FAIL,
BUT THEY'RE
ALSO LIKELY TO KEEP PEOPLE MORE
SHARPLY DIVIDED RATHER THAN
BRING
PEOPLE TOGETHER AND THAT'S
GOING TO HURT CORPORATIONS
CORPORATIONS ARE GOING TO BE
UNDER PRESSURE FROM
ACTIVISTS ON 2 OR 3 OR 4
DIFFERENT SIDES IT'S GOING TO
BE CHOPPY
OUT THERE.
>> YEAH, YEAH THEY'RE SEEING ON
THE RIGHT SIDE OF YOUR SCREEN
SENATOR HOLLY WHO WAS SEEN
WEAVING AT RIOTERS LAST WE