Newsweek: "Why Can't Corporate America End Its Perverse Love Affair With Republican Politicians"

Newsweek:

Three articles from the Wall Street Journalshow the strange myopia of businesses and business groups when it comes to politics. One article detailed how big retailers (Home Depot, Wal-Mart, Lowe's, Target) are warning employees about the possibility that a Democratic sweep could give unions the upper hand (translation: vote Republican!). A second describes how the U.S. Chamber of Commerce is mounting a huge $35 million campaign--twice the amount it spent in 2006 Congressional races--to support "almost exclusively Republicans in contested Senate races." And Federal Express CEO Fred Smith gave an interview to the editorial page in which he endorsed Sen. John McCain: "Because I agree with him on trade, taxes, energy and health care."

Let's take each in turn. Big retailers such as Home Depot, Wal-Mart, and Target, the Journal reports, are freaked out that Obama and a Democratic Congress would pass the Employee Free Choice Act, "which would do away with secret balloting and allow unions to form if a majority of employees sign cards favoring unionization." Now, don't get me wrong. EFCA may be a disaster for retailers. But of all the woes facing companies--the credit crunch, crappy growth, a disastrous job market, a lost decade in the stock market--unions are the least of their problems. So far this year, legions of retailers have gone bankrupt--Steve & Barrys, Linens'n'Things, the Ponderosa and Bonanza restaurant chains--victims of excessively optimistic projections, poor expansion choices, mismanagement, and horrific capital structures. Unions had nothing to do with their failure.

Read the whole story: Newsweek

Comments

[tydicea]

Why Can't Corporate America End Its Perverse Love Affair With Republican Politicians"

Why shouldn't corporate America love the GOP? It is the party that allows them to operate in way for them to reap record profits while cheating their employees and retirees. And when they make bad decisions resulting on them being on the brink like the rest of America, well, there is assistance in the form of corporate welfare courtesy of the good ole GOP. Can't get much better than that.

[Neophyte]

Well. DUH! If the GOP gave me a gift of seven hundred billion dollars I'd love them too.

[munki]

Is it right for any employer to take a stand and dismember that to employees?
I feel it is time for employers to stay away from what their employees political preference or beliefs...
Much of financial meltdown - resulted from "greed"...
Where does it fit?

[motley2]

Business people following the herd, ignoring reality? Putting their personal short-term welfare ahead of their duty to stockholders? Incapable of accepting any of the blame for failure?

Kudos to anyone in business out there who isn't a jerk, or jerkette. It must be really hard swimming against the tide.

[Cookie100]

Did you read some of those comments written on the Newsweek website, yikes! What the he*l is wrong with people. The stuff they say about O is shocking!

What do they hate about O, why? He is wonderful, if he doesn't win, I don't know how I would go on for 4, which will be worse that the last 8. I don't think I can take it. I haven't taken a deep breath for the last 3 years, as it is.

[newshawk14]

It's not to hard to understand, the last thing corporate America wants to face, is genuine competition.
They much prefer to have monopoly power and screw the public and the competiion.

[moongal6]

I believe the real truth is that corporate America, big pharma, oil companies, insurance companies, el al., DO NOT WANT THE RIDE TO END.
They have been making money hand over fist for over 7 years, on the backs of working class people, they will do anything to make sure of the status quo.
They want Mr. McCain and I will not be surprised of an Oct/Nov. surprise.

[plages]

What's perverse about their greed?

[ShawnMichel]

The same exact thing that's perverse about your lack of morals.

[BlackWidowPilot]

"I hope we shall crush in its birth the aristocracy of our moneyed corporations, which dare already to challenge our government to a trial of strength and bid defiance to the laws of our country."

- Thomas Jefferson

Truer words were never spoken.

Leland R. Erickson

Citizen

[newshawk14]

Excellent post.

[Pdubya]

Buy both sides and see who dances best.

Goldman Sachs bundled contributions 3:1, Obama/McCain

The puppet masters hold the strings to both dear people.

[LemonMeringue]

Ralph Nader is right. Corporations own and run America - they run both the Republicans and the Democrats.

Getting O in is a start to change this. I hope O has the wisdom to use Nader and Kucinich in his administration.

[KCFreedom]

No chance. Obama will use obvious suspects. Nader and Kucinich will be marginalized like they are now. After all, he chose Biden for his Veep.

Too bad. I really like Dennis. Not too many people in his position are willing to walk the talk like him. Nader, for all he's done, is just too old and crochety now.

[Sammy00400]

If this is so, and corporations love republican policies, then they would win all the time... since they control America. It would be better to describe it as a partnership. So long as both get much of what they want they are happy.

[nomoredead]

They should worry about executive compensation and severance packages instead of the average workers pay.

[LewDan]

Might I suggest that its not their income taxes executive management is concerned about but their income. Just as, if not more dangerous than unions would be a return to and enforcement of, such quaint notions as "fair employment practices." Things like actually having to pay workers instead of, say, negotiating for 40 hrs. a week and then demanding 50-60, or paying "part-time" worker far less than "full-time" for the same work by offering a portion of salary as "benefits" which only "full-time" workers receive.