“My advice to the corporate CEOs of America is to stay out of politics.” So said Senate Minority Leader Mitch McConnell on April 5th 2021. His aids were quick to point out that he was, in no way, referring to corporate contributions. As he warns of ‘consequences’ for exercising the same corporate free speech rights McConnell championed in the Citizens United case, Mitch is finally being seen as the unprincipled individual he has always been.
While the Kentucky Baptist alleges the CEOs are being bullied, we should definitely take note of how the Business Roundtable “redefined” the Purpose of a Corporation through a statement they published in August of 2019. In the statement, that moves, at least it’s public image, away from shareholder primacy, the organization claimed to adopt a commitment to all stakeholders. While many employees, suppliers and consumers doubted the sincerity of the Roundtable members and the PR piece, it now appears the “other stakeholders” just may be calling their bluff.