Nearly 200 CEOs who joined to form the Business Roundtable have signed a letter saying they are committed to leading their companies for the benefit of not just shareholders, but customers, employees, and other so-called stakeholders.
Justin Danhof of the National Center for Public Policy Research says the corporate leaders just opened a Pandora's box for left-wing activism.
"There is a well-worn pattern with these groups and I watch it every single year at dozens of companies," says Danhof, who attends shareholder meetings to confront companies and their left-wing polices. "What they will do,” he further explains, “is they will lobby these corporations to make a policy statement, which the Business Roundtable just did by the way, then, step two, which was already in the works when step one started, they say, Oh, well, we found all these actions that are "incongruous" with the policy statement that you just made. So, for example, if you say you support the environment, well, you can't donate to conservative politicians, right? They're all anti-environment.'"
According to Danhof, this strategy was employed against businesses such as the Walt Disney Company for it to reconsider its relationships with free-market proponents such as the U.S. Chamber of Commerce and American Legislative Exchange Council (ALEC).
"There is a new group that started that said if you have any statement on your website that supports women or ‘gender rights,’ whatever that is, well then you can't give to any conservative organization, Christian organization, or conservative politician that's ever supported a pro-life position, because that's anti-women," he continues.
Meanwhile, CEOs of publicly traded companies still have a legal obligation to their shareholders.
"There are some far-left politicians that now want to take this statement and change the law to make companies accountable to all 'stakeholders,' not just shareholders," warns Danhof. "So they already wrote this law essentially for these liberal politicians that want to move in that direction."