Why did it take an attack for corporate America to speak up?
Over the past four years we watched the moral fabric of our nation unravel under the leadership of Donald J. Trump. We became inured to dishonesty, boorishness, incompetence and worse. Even when people were dying, in the pandemic or in protests, the most powerful players, with all their influence and clout, remained remarkably silent in their condemnation of the president. It took an actual insurrection — an attack on our Capitol, and on our very democracy — to get the attention of corporate America.
It is just recently that corporations began to dismantle Trump’s communications platforms on social media, suspend political campaign donations or request that their contributions be returned.
Why has it taken so long for corporations to call Trump out for his lies and poor leadership?
There are three easy answers: one is that the business community valued the Trump administration’s tax cuts. The second is that it’s finally safe to call him out on bad behavior now that his presidency has come to a close. Third, while corporations were eager to distance themselves from concrete political stances that might alienate potential markets and customers, now the tide seems to be turning, as reported in Vox: “Support for Trump might actually be detrimental to a brand.”
Which means that corporate America is still floating along with the tide rather than swimming against the current when morally necessary.
This troubles me. I strongly believe that it is the obligation of the private sector not only to play a role in government, but really, to be the standard bearer for morality in our society. Why? Because corporations have power. They have the amplified voices that come from holding up our economy. And they represent the citizenry of our country — the consumers, the users, the workers.
As a veteran of the Vietnam War and as the CEO of 13 different companies, my mindset is that we must value country over profits. Protecting our nation, and with it our freedoms and our way of life, must be held above the desire for profit.
An article in the Harvard Business Review said, “Markets rely on rules and laws, but those rules and laws in turn depend on truth and trust. Conceal truth or erode trust, and the game becomes so unreliable that no one will want to play.
“It seems that executives no longer run their companies for the benefit of consumers, or even of their shareholders and employees, but for their personal ambition and financial gain,” the article said.
This is not surprising. We live in a culture that values immediate fame and fortune, the 15second TikTok notoriety. We don’t celebrate the noble, the educated and the selfless among us. It follows that our country elected as its leader the billionaire reality television star to embody its highest ideals.
Where is science? Where is philanthropy? What happened to the notion that we must care for our neighbors, bolster our vulnerable communities and honor the principles upon which our country was built?
That’s what we as individuals should be doing, and that’s what corporate America’s responsibility is.
The obligation of the business community is not only to turn its executives into rich individuals and to provide dividends to its shareholders while it remains silent on greater issues of morality. No, the end game should be for those companies to use their money, influence and expertise to build a better nation, not just a richer one.
To build a better future, sometimes it’s necessary to look to the past; right now, we in the business community should be looking back to the very origins of our Constitution, and the values of our Founding Fathers — those guiding principles such as truth-seeking, respect, patriotism and equality.
Only by embodying our obligation to this nation can we expect our political leaders to do the same. As we transition to a new administration, we must keep this obligation at the forefront of our minds.
Only by embodying our obligation to this nation can we expect our political leaders to do the same.