The financial system seems confused as to why companies might not want to discuss sensitive topics like abortion. I’ve always been puzzled by the way companies dive into social issues, even though it would make sense to avoid creating controversy.
Corporations seem to have ignored the controversy surrounding Roe v. Wade’s Supreme Court decision. Now it is up to you to find the company stupid enough to fire the fuse in your public relations department.
CNBC’s writers are puzzled by Wall Street’s silence. They wanted to find…something.
Major companies, including Disney and Walmart, keep largely silent as leaked Supreme Court abortion draft sparks outrage https://t.co/XUAiAECxbZ
— CNBC Politics (@CNBCPolitics) May 4, 2022
Yes, Disney has been silent on the matter. That is why these journalists attempted to provoke discussion.
Publicly leaked drafts of Supreme Court decisions that would abolish abortion rights were released. Companies were reluctant to respond to CNBC’s request for comment.
Enter the ‘You Don’t Say?’ gif —> here.
Even the US Chamber of Commerce and trade organizations didn’t have much to say. Any commercial benefit would be countered or even overshadowed by the backlash.
We did manage to find someone who would be able to give us a serious look at the subject.
“Speaking up on your own is not an option. Jeffrey Sonnenfeld is senior associate dean at Yale School of Management. ”
Disney is an excellent example of how businesses can address social problems. It was confined to standards in schools and the grant of parents greater access to the child’s curriculum.
Disney was forced to play an antagonistic role, falling prey to a minority of loud cranks and biased media complexes. This was met with backlash. According to polls, there is growing resentment among clients and the stock price has fallen further to new lows.
Disney was not required to make statements. CNBC’s editorial team is shocked.
Five employees called as many companies as possible to try to get a response. Yelp provided only a few negative PR comments. One company took a strong position against it. It was a dating app.
Levi Strauss & Co. strongly opposes the interview with CNBC. We will be watching to see if any ramifications. To show that they don’t believe in non-birthing people and that a fair amount of women should wear blue jeans, the company took this action.
This is a trap that many companies have fallen into in recent years. Many companies have learned this lesson over the years.
Target and Gillette as well as many other companies, including Disney, have experienced adverse market reactions after making bold statements about social causes.
This has been a long-standing trend. They realize that the best thing they could do is also the easiest. You will be much happier if you don’t say anything.