Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Corporate leaders plan new push on U.S. voting rights, will reconsider campaign donations

Stock MarketsApr 11, 2021 10:55PM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. FILE PHOTO: Protest against House Bill 531 in Atlanta

By Jessica DiNapoli

(Reuters) - Most CEOs on a call to discuss a new push against U.S. state voting restrictions said in a poll they will reassess donating to candidates who fail to support voting rights, while many will consider holding back investments in states that restrict voting access, according to people familiar with the matter.

Some business executives are putting together a new statement calling for the protection of U.S. voting rights, the latest corporate backlash against moves by Republican politicians to change election rules in Georgia and other states, the sources said.

About 100 chief executive officers, investors, lawyers and corporate directors participated in a private Zoom call on Saturday organized by Yale professor Jeffrey Sonnenfeld to discuss a new response to Georgia's election law and voting restrictions contemplated by other states such as Texas and Arizona, according to the sources.

All CEOs who participated in a poll during the call agreed they will re-evaluate political donations to candidates based on their track records on voting rights, while 48% said they might reconsider or reduce investments in states that restrict access to voting. Some one-quarter of CEOs refrained from voting on several questions in the poll.

Georgia's decision last month to strengthen identification requirements for absentee ballots and make it a misdemeanor to offer food and water to voters waiting in line, among other changes, prompted many U.S. companies, including Delta Air Lines Inc (NYSE:DAL) and Coca-Cola (NYSE:KO) Co, to issue statements criticizing the law.

Major League Baseball pulled this year's All-Star Game from Atlanta to protest the restrictions.

Republican officials, including U.S. Senate Minority Leader Mitch McConnell and Texas Governor Greg Abbott, criticized the companies for their response, accusing them of wading too much into politics.

Georgia Republican Governor Brian Kemp says the law is “another step to making our elections fair and secure.”

But the measure has been slammed by Democratic President Joe Biden and faces legal challenges from civil rights groups that contend it is aimed at suppressing voting among Blacks and other racial minorities in a state that went for Biden in last November's election and elected two Democratic U.S. senators in January.

Former President Donald Trump and his Republican allies have made baseless allegations that he lost the November election because of widespread voter fraud, claims that multiple courts across the country rejected.

On the invitation-only call, former American Express Co (NYSE:AXP) Chief Executive Kenneth Chenault and Merck & Co CEO Kenneth Frazier said they were looking to gather support to back a new statement pushing back against the wave of new restrictive voting-rights bills, one of the sources said.

Some participants in the call signed up to the new statement during the call.

Participants noted that the proposed laws disproportionately targeted low-income areas, and that any civil unrest or attack on U.S. democracy could derail potential economic growth.

"We as business leaders should be much stronger on not allowing people to undermine the 2020 election. The integrity of the system is integral," Reid Hoffman, co-founder of professional networking site LinkedIn (NYSE:LNKD), said on the call.

Corporate leaders plan new push on U.S. voting rights, will reconsider campaign donations
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (17)
Matthew Petyk
Matthew Petyk Apr 12, 2021 5:49PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
There is nothing wrong with requiring I'D when voting. America should have an election process that is transparent, verifiable, and documentable. They only people fighting this type of clarity is Democrats.... Why?
Options Trader
Options Trader Apr 12, 2021 12:03AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Nobody ever reads bills and just takes the media's word for it. Amazing how easily people are manipulated.
Benjamin McIntire
Benjamin McIntire Apr 12, 2021 12:03AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Oh wow how can we all get your alpha brains smarts plz share your secrets!!
Ad Cline
Ad Cline Apr 12, 2021 12:00AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
looks like the Corporations are exercising their right to free speach that the conservatives on the Supreme Court said they have and the conservatives Republican party supported..... Republicans... your getting what you deserve. it reminds me of the story of Frankenstein's monster.... enjoy.
Matthew Petyk
Matthew Petyk Apr 12, 2021 12:00AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Wrong. There is a big difference in a person exercising their freedom of speech and a corporation putting their finger on the political scales. Using the resources of the corporations they manager to influence political discussion. Democrats like it now since it enforces their narrative but they are hypocrites as they have been crying the opposite for quite some time.
Ad Cline
Ad Cline Apr 11, 2021 11:48PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
levine... the restrictions are on people who believe in democracy unfortunately you are not one of them.
danny Levine
danny Levine Apr 11, 2021 11:33PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
the "restrictions" are only on illegal votes. idk why would anyone object to that
Benjamin McIntire
Benjamin McIntire Apr 11, 2021 11:33PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Blah blah blah just pulling stuff outta your rear
Jeffrey Vose
Jeffrey Vose Apr 11, 2021 11:28PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
I’m amazed that such a large chunk of our society actually believes these lies.
Kaveh Sun
Kaveh Sun Apr 11, 2021 11:18PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Now it is all good if companies do politic. Let companies rule the world like the west indies did
Catholic Man
CatholicMan Apr 11, 2021 11:17PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Please explain how the laws “target” low income areas. BTW, I seem to recall liberaks saying that Trump voters are uneducaed, low income folks.
Benjamin McIntire
Benjamin McIntire Apr 11, 2021 11:17PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Why dont you look it up yourself, oh wait you don’t really care. You are weak.
Matthew Petyk
Matthew Petyk Apr 11, 2021 11:17PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
. please explain for everyone since you are a know-it-all. You can't. it's easier to spew ignorance and manipulation than have an adult dialogue right?
Matthew Petyk
Matthew Petyk Apr 11, 2021 11:17PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
. please explain for everyone since you are a know-it-all. You can't. it's easier to spew ignorance and manipulation than have an adult dialogue right ?
Roger Miller
Roger Miller Apr 11, 2021 11:13PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
They should just do away with ballets all together. Let people write their choice on any old piece of paper and throw them in a big bin.
Benjamin McIntire
Benjamin McIntire Apr 11, 2021 11:13PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
This is what republicans would do with minority votes if they could.
Matthew Petyk
Matthew Petyk Apr 11, 2021 11:13PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
.. if you are so pro-minority, please tell us why democrats are anti-school choice???
Catholic Man
CatholicMan Apr 11, 2021 11:12PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
False claims, the laws do not restrict voting.
Benjamin McIntire
Benjamin McIntire Apr 11, 2021 11:12PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Oh ok so then why pass a voting restrictions law if it doesnt do that? You won’t mind if its repealed then will you? What a mega mind on this one.
Vlad Lozovskiy
Vlad Lozovskiy Apr 11, 2021 9:14PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Fake stuff.  nobody is preventing that woman to vote.
Jozef Drozd
Jozef Drozd Apr 11, 2021 8:44PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
showing an ID when voting is the problem why ?
Kevin Le
Kevin Le Apr 11, 2021 8:44PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
dunno. why does the GOP think background checks for gun purchases is a problem?
Catholic Man
CatholicMan Apr 11, 2021 8:44PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Kevin Le Not equivalent.
Josh Brandon
Josh Brandon Apr 11, 2021 8:44PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Kevin Le You have to get a background check when buying a firearm, its the law...  I see you have never attempted to buy a firearm.  Keep believing what you are told like a good little sheep
Kevin Le
Kevin Le Apr 11, 2021 8:44PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
no background when it is purchased from a private sale. try again Josh.
Leo Woodsman
Leo Woodsman Apr 11, 2021 8:44PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
So, no id check to visit those corp office, labs?
Red Riley
Red Riley Apr 11, 2021 8:36PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
ask the nba how it went. be very careful.
Chris Ciechoski
Chris Ciechoski Apr 11, 2021 8:35PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Per the pic who is not letting her vote.
Joseph Nikosey
Joseph Nikosey Apr 11, 2021 8:34PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Is this propoganda or? I wish the media was more objective
danny Levine
danny Levine Apr 11, 2021 8:34PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
it's from Reuters, so...
danny Levine
danny Levine Apr 11, 2021 8:29PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
boycott all the companies on the list
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email