After a violent mob stormed the US Capitol on January 6, 2021, several businesses and trade groups condemned the attack And Promised review and changes their viewpoint political donationThat includes blocking donations to candidates who voted against certifying the 2020 presidential election.
Three years later, that day is still big in politics. President Biden has framed the 2024 presidential election as a battle for American democracy, suggesting in a speech on Friday that it will test whether democracy is still a “sacred cause.” The same day, the Supreme Court agreed to hear the appeal of former Republican front-runner, Donald Trump, against a Colorado court’s decision to remove him from the state’s Republican primary ballot due to his actions surrounding the riots.
But according to new data, the business community has not put heavy financial pressure on candidates and groups seeking election denial, as the early flood of condemnations and pledges in 2021 might have suggested.
Corporate political action committees still give millions to election objectors. Hundreds of business and trade association PACs contributed more than $108 million to campaigns and committees associated with members of Congress who insisted that the election be rigged, according to an analysis of Federal Election Commission data from September through January 6, 2021, by Open. Was stolen from Trump. Secrets, a campaign finance research nonprofit. “Companies promised to step back, but we haven’t seen that happen,” Anna Massoglia, investigations manager at Open Secrets, told DealBook.
political watchdog Accountable.US found that overall donations Funding from Fortune 500 companies and nearly 700 trade associations to election objectors in Congress is down by just 10 percent — or about $3.7 million — for the 2022 election cycle compared to 2020. And donations to those lawmakers increased after more than 250 companies and industry groups tried to undermine the election.
Corporate PAC data shows what companies are openly disclosing – So although they don’t reveal the full donation picture, they are meaningful, Massoglia said. “Companies also channel money through trade associations, super PACs and even dark money groups that can ultimately be used to benefit those who deny elections,” he said. Many companies also donate to state-level efforts.
Some companies that have started giving again Various groups seeking to undermine the 2020 presidential election have defended the move, saying they deliver on a bipartisan basis. General Motors delivered a statement to the Republican State Leadership Committee after signing a statement objecting to voting rights restrictions in 2021, saying, “Support for these organizations does not represent support for all of the issues the organization supports. “
Money is not the only political tool for businesses. ,Some people may have thought January 6 was a one-time date, but this is an ongoing reckoning,” said Jane Stark, co-director of the Center for Business and Social Justice, which focuses on engaging the private sector in social and policy issues. Works to unite. , She recommends that companies demonstrate that civic engagement, as well as elections and voting practices, are important. For example, companies can make it easier for employees to get involved by providing them with information and time to participate.
Nonprofit Leadership Now has worked with companies on initiatives at the state and federal level, including filing amicus briefs, lobbying for voting rights legislation, and supporting reforms to strengthen the election process. Daniela Ballou-AresThe group’s founder and CEO said businesses should be concerned about the potential for further violence and social unrest. “The post-election risks suggest businesses need to be proactive,” he said.
Paul Tagliabue, an attorney and former NFL commissioner who is working with Leadership Now and other groups to engage business leaders in election efforts, said he tried not to be too prescriptive, but the formula he shared, telling her: “Educate, empower and engage.” – Efrat Livni
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More jobs were created last month than expected. The latest jobs report published yesterday showed that 216,000 jobs were created in December, more than economists had forecast. The data also showed that wages are still rising, potentially complicating the Federal Reserve’s decision on whether to cut interest rates.
The Food and Drug Administration approved large-scale drug imports from Canada for the first time. The regulator allowed Florida to purchase millions of dollars’ worth of drugs at prices far lower than the state would pay in the United States. The decision reverses a policy that critics say has kept drug prices high and overrules the pharmaceutical industry’s long-standing objections.
Claudine Gay resigns as president of Harvard. The scholar faced intense pressure from some donors and politicians over its response to anti-Semitism on campus following Hamas’ October 7 attacks on Israel and allegations of plagiarism. The controversy has raised broader questions about the role of diversity, equity and inclusion programs in business and the role of donors in setting university policy.
Early Mickey Mouse and thousands of other copyrighted works entered the public domain. The character starring in “Steamboat Willie” can now appear in non-Disney works after the copyright expires on January 1. A few novel projects have already been announced: two horror films and a video game.
By the numbers: Red Sea attacks wreaking havoc on global economy
As Iran-backed Houthi rebels continue to attack commercial ships passing through the Red Sea, some of the world’s largest logistics companies have stopped using the vital transit route.
The attacks have already reverberated throughout the global supply chain – and are likely to cause further disruption and rising prices. Here are some of the big numbers behind the disruption:
Shipments are being re-routed at higher cost. In normal times, about 12 percent Most of the global trade passes through the Suez Canal. The number of transits through the canal declined in the 10 days ending Tuesday 28 percent from a year ago, according to International Monetary Fund’s Portwatch Platform, This requires rerouting around the southern tip of Africa to avoid the Suez Canal, which connects about two weeks for each stage of the journey and Fuel cost approximately $1 million For each round trip between Asia and Europe.
Shipping prices have increased. The cost of shipping containers from Asia to Northern Europe has soared 173 percent According to shipping platform Freightos, the attacks began just before the war in Gaza began. From Asia to the Mediterranean, prices have more than doubled. The cost of insuring ships passing through the Red Sea has also increased by almost 0.5 percent A huge increase in the value of a ship’s hull, 0.1 to 0.2 percent last month, according to bloomberg,
But oil prices remain stable. Shipments of oil and refined products such as diesel and gasoline through the Suez Canal declined. about 40 percent in December compared to October, one analyst told The New York Times. This has not yet led to large price increases, thanks to a combination of factors that include reduced oil demand as well as high oil and gas inventories. Brent crude price is close to $79 per barrelSlightly less than before the attacks increased.
Red Sea attacks are not the only threat to supply chains. The Panama Canal, through which about 5 percent of global trade passes, has been limited by severe drought, limiting the number of ships using it. Continued disruptions could lead to increases in shipping costs that could be passed on to consumers, just as inflation begins to ease.
On our radar: ‘Succession’ auction
The hit HBO drama “Succession,” about fictional media mogul Logan Roy, his dysfunctional family and his battle to take over his company, ends in 2023. Now, the family’s belongings are available to the highest bidder. Hundreds of props, costumes and props used in the series will be auctioned off by Heritage Auctions next Saturday. Items include Kendall Roy’s Forbes cover (“The Heir with the Flair”); Tom Wambsgan’s WeStar ID card; “Pigs on the floor” prop sausage; Shiv Roy’s hair clip; Logan Roy’s funeral pamphlet; And lots of suits. Even if you’re not willing to spend at least $2,700 to win Greg Hirsch’s dog mascot costume, browsing a lot It’s good fun.
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