AS A STUDENT AT HARVARD BUSINESS
SCHOOL.
SO WE WILL BE DROPPING THE
PROFESSOR TITLE TONIGHT JEFF.
JEFF, WHAT I WAS STRUCK BY, MANY
THINGS IN YOUR ARTICLE ABOUT
THIS, IN YOUR STUDY ABOUT THIS.
NUMBER ONE, THE COMPANIES WHO
SAID THEY WOULD DO THIS ARE
REALLY DOING THIS.
THE REFUSAL TO MAKE THE
POLITICAL CONTRIBUTIONS.
A MISSTEP BY TOYOTA AND THEN
TOYOTA QUICKLY CORRECTED ITSELF.
>> THATS EXACTLY RIGHT,
LAWRENCE.
THERES SOME MYTH MAKING OUT
THERE, MUCH OF IT FED BY THE
RIGHT, ATTACKING THE CEOs AS
WOKE WHIMPS.
SUGGESTING ITS EMPTY PR AND
SADLY SOME ON THE LEFT HAVE
FALLEN IN TO A TRIP OF
SUSPECTING THAT THE BUSINESS
LEADERS ARE DOING IT FOR PR
VALUE, IN FACT 85% OF THEM HAVE
HELD TO THE COMMITMENTS AND SOME
OF THOSE WHO UNFORTUNATELY MADE
THEIR PLEDGES, MADE PLEDGES AND
LOOKED LIKE THEY RENEGED, IT WAS
THE FLOW OF THE MONEY ACROSS THE
JANUARY 6th DATE.
IT WAS THE EXPLANATION OF THE
15%.
ITS REMARKABLE.
ITS REMARKABLE THAT THOUSANDS
OF MAJOR EMPLOYEERS ENABLED
MILLIONS WORKERS, FIRST TIME IN
AMERICAN HISTORY, TO VOLUNTARY
PAID TIME OFF TO GOTT TO THE POL
AND AND SUPPORT VOLUNTEER POLL
WORKERS AND THINGS.
ITS AN IMPORTANT TIME, AND
SEEING WHY AS CEOs ARE SEEING AS
SOME OF THE MOST TRUSTED SOURCES
IN AMERICAN SOCIETY RIGHT NOW,
QUITE A MOVE FROM WHERE ARE WE
WERE A DECADE AGO.
>> YOU WROTE THAT BUSY LEADERS
CAN HAVE THE COURAGE OF THEIR
CONVICTIONS AND NOT SUFFER FOR
IT.
YOU KNOW THESE PEOPLE.
YOU KNOW THEM PERSONALLY, THEY
KNOW YOU ON A FIRST NAME BASIS,
YOU ARE RESPECTED BY ALL OF
THEM.
IS IT REAL OR IS IT IS BUSINESS
POSITIONING THATS GOING ON
HERE?
IS THIS, IS THIS THE COURAGE OF
THEIR CONVICTIONS AND OTHER
EXECUTIVES CONVICTIONS WITHIN
THE COMPANY AND WORKERS WITHIN
THE COMPANY OR IS IT A BUSINESS
POSITIONING OF SORTS.
THERE CAN BE SOME LAWRENCE THAT
ARE ARTIFICIAL AND SHOWCASING.
FOR SOME OF IT, ITS REAL AND
SOME DEGREE OF SELF INTEREST.
YOU LOOK AT THE FINANCIAL
PERFORMANCE OF THE FIRMS THAT
SIGNED THE PETITIONS AND MADE
THE PLEDGES.
THEY ARE OUT PERFORMING THE S
AND P THEIR TOTAL SHAREHOLDER
RETURN IS HIGH.
HALF OF THEM HAVE BEATEN THE
TOTAL SHAREHOLDER RETURN OF THIS
STANDARD & POORS INDEXES.
THEY HAVE DONE WELL FINANCIALLY.
BUT THE CEOs, FOR THE MOST PART,
THEY ARE NOT RACIST, OR
ISOLATIONISTS ORNATE I HAVISTS
OR PROTECTIONISTS.
THEY BELIEVE IN SOCIAL HARMONY,
THEY DONT WANT ANGRY
COMMUNITIES AND WORKERS DIVIDED
AND POINTING FINGERS AT EACH
OTHER AND ANGRY SHAREHOLDERS AND CONSUMER BOYCOTTS.
CONSUMER BOYCOTTS.
SO, TOKYO CALLED IT IN 1830,
SOCIAL CAPPALITAL IS AS MUCH OF
THEIR INTEREST AS BUSINESS
CAPITOL.
>> IT SEEMED TO TAKE A LOT TO
BRING THEM IN THE SPACE.
ITS NOT LIKE THEY HAVE BEEN
KIND OF, YOU KNOW, EAGERLY
JUMPING IN TO OUR POLITICS.
THIS WAS A CRISIS IN DEMOCRACY
ITSELF THAT MADE THEM TAKE THIS
STANCE.
>> YES, ITS A CRISIS IN
DEMOCRACY, I WOUND UP HAVING A
COUPLE OF EMERGENCY MEETINGS IN
WHICH I DID NOT CALL, BUT CEOs
ASKED ME TO CALL, NOVEMBER 5th.
OF COURSE ELECTION NICE WAS THE
3rd, AND ON THE 5th, PRESIDENT
TRUMP ON THE AIR WITH AUTHORITY
HE DOES NOT HAVE, SOME CEOs
THOUGHT THAT IT WAS OVER BLOWNED
RHETORIC BUT YOU NAME IT FROM
PHARMA, TO TELECOM AND
COMMUNICATION, THEY WERE SAYING
HOLD US TOGETHER.
I SAID USE THE TRADE GROUPS.
AND THEY SAID, THEY HAVE GOT
COMPLEX AGENDAS AND THEY WERE
SAYING, THEY SAID PULL TOGETHER
AND STARTED TO MEET.
SO WE HAVE HAD FOUR OF THE
INFORMAL GROUPS.
SOMETIMES WITH AS LITTLE AS TEN
HOURS OVER THE NIGHT.
AND ACROSS THE POLITICAL