We are in the midst of elections and generally the elections are something the would be politicians would try to find a cause they can rally the base to vote for them and after the election, things would go to normal. The bogey man is not a simple solution and life continues.
In this election, the nastiest is coming and does come from the top. Trade Advisor Peter Navarro might say the President is working 24 hours on the issues of the day, but in reality he watches too much TV and tweets about what he feels is wrong. You would thing the most powerful person in the US, could pick up a phone and call the President or Chairman of the company and sort things out, but he tweets.
In an article by David Shepardson and Jan Wolfe, the President tweet people should not buy Goodyear Tires because the company has a policy that political attire is unacceptable for the workplace.
Goodyear is a $15 billion company making tires said to be clear, we have a long standing corporate policy of zero tolerance for any form of harassment or discrimination. The company asked its employees to avoid workplace expressions of support of political campaigning for any candidate or political party.
Because of the President’s tweet, Goodyear shares fell 6% but rallied back to where it started from. If the President was not the President, what he did could be called a Securities and Exchange violation.
The local Senator Sherrod Brown said it was absolutely despicable that the President would call for a boycott of an American company, based in Arkon that employees thousands of US workers.
Linking to dividend paying stocks, this year the election is going to be nasty and companies will feel the wrath of one party or the other for misdoings. In the past, companies could avoid saying much, but this year they have to proactive to protect themselves and hope once the election is over, things of this nature will not happen again.
There are more questions than answers, till the next time – to raising questions.