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Tags: ceo | downgrade | stock

Anti-Trump Boycotts Hurt Companies, Help No One

Anti-Trump Boycotts Hurt Companies, Help No One

An anti-Trump, anti-capitalism demonstration in front of Trump Tower in Toronto. (Arindam Banerjee/Dreamstime)

Tom Borelli By Thursday, 23 February 2017 12:41 PM EST Current | Bio | Archive

The flood of companies running away from any association with President Donald Trump demonstrates the effectiveness of liberal activist campaigns coordinated to target certain businesses.

The CEOs are responding to pressure executed by anti-Trump activists who seek to isolate and damage the president’s reputation. It’s Saul Alinsky’s "Rules for Radicals" strategy in action. The companies dumping business associations with the Trump name were targeted by a boycott campaign launched by "#grabyourwallet" — a grassroots initiative created by a woman outraged over Trump’s p**** comments revealed in the "Access Hollywood" video.

Nordstrom recently decided to stop selling the Ivanka Trump brand and Neiman Marcus followed by ending sales of her jewelry on its website.

Employees at Marshalls and TJ Maxx were ordered to remove signs promoting Ivanka products in their stores.

Kmart and Sears got caught up in the anti-Trump frenzy and dropped more than 30 products from the Trump Home line from their Websites.

Ivanka is the feminist feminists love to hate.

The "#grabyourwallet" campaign — announced on Twitter last fall — lists companies that have a business connection with the Trump family.

Making it easy for anti-Trump activists, "#grabyourwallet" uses an online spreadsheet that provides the products the targeted company sells as well as contact information, including phone numbers for corporate headquarters and customer service.

Contact emails for the companies are also included.

It's one-stop shopping for anti-Trump boycotts. And The Washington Post reported the "#grabyourwallet" hashtag resulted in more than 496,000 engagements on social media.

Once a company caves to the activists demands by ending its association with Trump, they are removed from the boycott list. Nordstrom, Neiman Marcus, Kmart, and Sears are now among other companies that are no longer being boycotted.

That’s not all.

The anti-Trump wave also hit the Under Armour sports apparel company.

During a CNBC interview, the company’s CEO, Kevin Plank (who also serves on Trump’s manufacturing council), complimented the president’s business focus saying, "To have a pro-business president is something that is a real asset for the country."

Even though Under Armour is not specifically listed as a boycott target by #grabyourwallet, it is listed with companies that support Trump in other ways; therefore, Plank and Under Armour were punished through other means.

After the CNBC interview, a "#BoycottUnderArmour" hashtag was launched on social media. The blacklist gained steam after Under Armour brand ambassadors such as basketball star Stephen Curry, ballet dancer Misty Copeland, and actor Dwayne "The Rock" Johnson blasted Plank for his pro-Trump comments.

Most concerning, Under Armour’s stock was downgraded by a Susquehanna financial analyst because Plank’s pro-Trump comments could harm its brand.

As Joe Weisenthal from Bloomberg News noted, supporting Trump was a reason to downgrade a stock.

Plank succumbed to the pressure and published a full-page letter in The Baltimore Sun, distancing himself from Trump.

Linking pro-Trump comments to a stock downgrade sets an extremely serious precedent because of the direct financial consequence to a company.

The connection between Trump and a downgrade will send a chilling message to other CEOs and arm Trump’s opponents with potent ammunition to use against other companies.

The "Trump is bad for business" label can stick and further erode corporate support for the president and his agenda.

Anti-Trump forces benefit from having an umbrella organization that pushes emails, phone calls, and a unified hashtag.

The decisions by businesses to dump Trump reflect the dominance the left has when it comes to muscling corporations.

However, Trump supporters are stepping up.

A small group of women went to the Nordstrom store in Chandler, Ariz., and filmed a video of them canceling their credit card accounts over the retail chain’s decision to stop selling Ivanka Trump products.

The video was posted on Facebook and has three million views.

Trump supporters rewarded singer Joy Villa for wearing a "Make America Great Again" dress at the Grammy Awards. Following the event, sales of Villa’s EP, "I Make the Static," skyrocketed, making it the top seller on iTunes.

While Trump backers are making gains, they trail in the battle for the boardroom because they are not feared by CEOs.

Anti-Trump forces benefit from having an umbrella organization that pushes emails, phone calls, and a unified hashtag.

Unless a stronger counter movement is waged against companies that are criticizing or running away from Trump, expect to see more corporations jump off the Trump train.

This article originally appeared on ConservativeReview.com.

Dr. Tom Borelli is a contributor to Conservative Review. As a columnist he has written for Townhall.com, The Washington Times, Newsmax magazine, and also hosts radio programs on SiriusXM Patriot with his wife Deneen Borelli. Dr. Borelli has appeared on numerous television programs on Newsmax TV, Fox News, Fox Business and TheBlaze. For more of his reports, Go Here Now.

© 2022 Newsmax. All rights reserved.

Linking pro-Trump comments to a stock downgrade sets a dangerous precedent. The connection sends a chilling message to other CEOa, arming Trump’s opponents with ammunition to use against other companies. The Trump is bad for business label erodes corporate support for the president's agenda.
ceo, downgrade, stock
Thursday, 23 February 2017 12:41 PM
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