After the US Capitol riot, Twitter Inc. banned President Trump’s social media account. Simon & Schuster publisher canceled publication of a book by Senator Josh Hawley (R., Mo.), which challenged the results of the Electoral College presidential race, and Airbnb Inc. said it would prevent people involved in the violence from registering bedrooms. Stripe Inc. stopped processing direct payments from Mr. Trump’s campaign website.
Companies like Marriott International Inc. and Walmart Inc. have suspended donations to dozens of Republican lawmakers who have voted against certifying the votes of the Electoral College, with some others demanding reimbursements.
“Words alone are not enough. We are committed to action, ”wrote Jim Fitterling, CEO of Dow Inc., in a memo telling employees that the chemical manufacturer was suspending political donations to any Republican who opposed certifying President-elect Joe Biden’s victory in an electoral cycle – two years for members of the Chamber and up to six for senators.
It was a far cry from the days when companies struggled to appear apolitical, incorporating – if not always fulfilling – the late economist Milton Friedman’s view that “the business of business is business”.
“We are seeing a convergence of social issues that used to be outside the domain of what business executives commented on,” said Judy Samuelson, founder and executive director of the Aspen Institute’s Business and Society Program, a think tank, and author of ” The six new business rules ”, which addresses these changes. “The rule was: if there is no direct connection to our business model or something that we consider to be expensive, we should basically stay away from politics.”