Tag Archives: American Express

CEOs & Business Leaders Speak Out on Voter Rights – Corporate Citizenship, USA-style On Display

Posted on by
Reply

April 14 2021

By Hank Boerner – Chair & Chief Strategist – G&A Institute 

Corporate America and “Corporate Citizenship” – Today, that can mean lending the CEO and company voice to address critical societal issues in the United States of America.  Some applaud the move, while others attack the company and its leader for their position on the issues in question.   

In this context, powerful messages were delivered today from the influential leaders of the US corporate community – clearly voicing concern about the American electoral process and the rights of all qualified voters in the midst of mounting challenges to the right-to-vote. 

What the CEOs, joined by other influentials in the American society, had to say to us today:

As Americans we know that in our democracy we should not expect to agree on everything.

However – regardless of our political affiliations, we believe the very foundation of our electoral process rests upon the ability of each of us to cast our ballots for the candidates of our choice.

We should all feel a responsibility to defend the right to vote and oppose any discriminatory legislation or measure that restrict or prevent any eligible voter from having an equal and fair opportunity to cast a ballot.

Who is saying this? A list of bold name signatories in an advertisement that appears today in The New York Times and The Washington Post – these messages (these above and more) splashed across two full pages (a “double truck” in newspaper language) with a dramatic roster of prominent names from Corporate America. And prominent accounting and law firms with bold name corporate clients. And not-for-profits. And individuals. Celebrities.  People and organizations that every day in some way touch our lives. 

This advertisement certainly continues to set the foundation in place for pushback by powerful people and organizations as various state legislatures take up electoral voting measures. And pushes back against the “Big Lie” that the November 2020 elections at federal, state and local levels were widely fraudulent.

The names on the two pages jump out to capture our attention: Apple. American Express. Amazon. Dell Technologies. Microsoft. Deloitte and EY and PwC. Estee Lauder. Wells Fargo. BlackRock. American Airlines and JetBlue and United Airlines. Steelcase. Ford Motor and General Motors. Goldman Sachs. MasterCard. Vanguard. Merck. Starbucks. IBM. Johnson & Johnson. PayPal. T. Rowe Price. And many more.

CEOs including Michael R. Bloomberg (naturally!). Warren Buffett. Bob Diamond, Barclay’s. Jane Fraser, Citi. Brian Doubles, Synchrony. Brian Cornwell, Target. Roger Crandall, Mass Mutual.

Luminaries joined in as individual in support of the effort: David Geffen. George Clooney. Naomi Campbell. Larry David. Shonda Rhimes. Larry Fink. Demi Lovato. Lin-Manuel Miranda. Many more; think about the influence of their influencers in our American society in 2021.

And we see the names of these law firms: Akin Gump. Arnold Porter. Milbank. Morgan Lewis & Bockius. Fried Frank. Cleary Gottlieb. Holland and Knight. Ropes & Gray. (If you are not sure of who these firms and many more law firm signatories are, be assured that in the board room and C-suite and corporate legal offices these are very familiar names).

And the “social sector” institutions/organizations signing on include leaders of the Wharton School, Morehouse College, Spelman College, University of Pennsylvania, Penn State, NYU Stern, United Negro College Fund, Hebrew SeniorLife, and Council for Inclusive Capitalism.

The New York Times covered the story of the advertising message in an article in the Business Section – Companies Join Forces to Oppose Voting Curbs (bylined by Andrew Ross Sorkin and David Gelles). Subhead: A statement that defies the GOPs call to stay out of politics.

The effort was organized by prominent Black business leaders including Ken Chennault, until recently the highly-regarded CEO of American Express, and Ken Frazier, the also-widely-admired CEO of Merck.

Recall that Senate Minority Leader Mitch McConnell corporations said that corporations should “stay out of politics”. The recent State of Georgia legislation addressing voting rights was a trigger for prominent corporate leaders (such as heads of Coca Cola, Delta Airlines, both headquartered in Atlanta) to criticize measures that could deter or inhibit minority voter populations from exercising their rights.  Leader McConnell reacted to this. 

The Times quoted Kenneth Chennault: “It should be clear that there is overwhelming support in Corporate America for the principle of voting rights…these are not political issues…these are the issues that we were taught in civics…”

Also made clear: The CEOs, social influential and thought leaders including celebrities involved in the ad message effort were non partisan and not attacking individual states’ legislative efforts.

Remember The Business Roundtable’s recent re-alignment of the groups mission statement to focus on “purpose”? According to the Times report, the subject of the ad effort was raised on an internal call and CEOs were encouraged to sign on to the statement; many CEOs did.

Where does this go from here? Corporate executives are speaking out separately on the legislative measures being discussed in individual states that appear to or outright are clear about restricting rights of minority populations. That happened in Georgia recently. Coca Cola and Delta Airlines were hit with criticism; those companies were not signatories on the ad today. Home Depot (also HQd in Atlanta) waffled; the company is not represented on the signatory line nor was there public criticism of the legislature’s effort.

Perspective: While corporate citizenship has been an area of focus and public reporting for many years at a number of large cap public companies, the glare of publicity centered on the question of “what are you doing to help advance society on critical issues as a corporate citizen” is more recent.

The spotlight is intensifying on voting rights (as we see today) and also on climate change, diversity & inclusion, human capital management (especially in the Covid crisis), investment in local communities, in supporting public education, in hiring training & promotion of women and minorities, doing business with nations with despot leaders (think of Burma/Myanmar), equality of opportunity for all populations…and many other issues.

And so today’s advertising splash with CEOs especially putting their stake and their company’s stake in the ground on these types of issues is something we can expect to see continue and even expand in the coming weeks.

The division lines in the USA are certainly clear, especially in politics and public sector governance, and we are seeing that corporate leaders are responding to their stakeholders’ expectations…of being “a good corporate citizen”.

And it’s interesting to see the perspectives shared that even the meaning and understanding of the responsibilities of the “corporate citizen”) is defined along some of the lines that divide the nation.

Interesting footnote:  Clearly illustrating the political and philosophical divide, the members of the Republican Party who are organized as the opposition to the GOP today — The Lincoln Project — called on followers to sign on to an email that singles out JetBlue (one of the ad signatories) for contributing to political campaigns of what the Lincoln Project calls “seditionists”.  These are elected officials who “support voter suppression”. Says the project: If enough of us make it clear that we won’t stand inequality, voter supression and sedition, we will make a difference.

The battle lines are clearly drawn in voting rights issues. 

The advertisement today:

April 14 2021 – The New York Times and The Washington Post messages:

 

 

 

 

Marriott, Apple, Google, Facebook, Schein, CVS, Sentient Technologies, American Express, JPMorgan Chase — Finding Ways to Help – and Innovate!

Posted on by
Reply

G&A Institute Team Note: We continue to bring you news of private (corporate and business), public and social sector developments as organizations in the three societal sectors adjust to the emergency.

This is post #15 in the series, “Excellence in Corporate Citizenship on Display in the Coronavirus Crisis” – April 10, 2020

#WeRise2FightCOVID-19 “Corporate Purpose – Virus Crisis”

By Hank Boerner –Chair & Chief Strategist – G&A Institute

The team members at G&A Institute are in conversations throughout the day with corporate managers, with the discussions centering on sharing “what companies can do / what companies are doing” to meet the challenges of the cororanvirus pandemic.

That consideration for many companies today is both internally and external focused — the key tasks are keeping people safe, serving the community’s needs, keeping the corporate operations going to be best of their ability, and looking forward to the post-crisis era.

Here are a few selections of what executives and managers and their organizations are doing.  As we are thinking…

Life hands you the lemon / squeeze! / make the lemonade!
And get it around to others as fast as you can.

Setting An Example: Cut My Pay, Says Schein CEO

Stanley M. Bergman, CEO of Henry Schein Inc. (important suppliers to the medical community) is taking a temporary cut in salary during the virus crisis. As his company’s client base experiences hazards and cares for patients, the CEO (in SEC filing) will take 100% pay cut.

The company also stopped its share buyback program. The company markets equipment and supplies for clinics, dentist & doctor offices, and other segments of healthcare.

Schein is a co-founder of the Pandemic Supply Chain Network, using its own supply chain for distribution of testing supplies. The network was created at the 2015 Davos meeting as a public-private partnership. Now, the PSCN is part of the global COVID-19 response.

Information for you if would like to become a part of the effort: https://www.weforum.org/projects/pandemic-supply-chain-network-pscn

 * * * * * * * * 

Apple & Google Teaming For New “Contact-Tracing” Bluetooth App

It’s hard to get one’s head around the pandemic: millions, tens of millions, yes billions of people are stationary, immobile, not able to move around, sheltered at home, working remotely.

And tens of millions of us are not able to not move around, we must be at our posts, picking the crops, stocking the warehouse, driving the truck, stocking the shelves, manning the cash registers at retail.

Or more frightening, driving the ambulance, being on post in the emergency room or in the ICU, or in the wards with non-COVID patients.

Or driving the police car to respond to “the unknown”, or the fire truck to extinguish the blaze and save lives. Think about the EMT in the ambulance, hour after hour, running to danger.

Keeping on touch, virtually all of us, mobile and immobile rely on our cell phone…the lifeline to loved ones as well.

For those who must be on their designated post, moving around, interacting, the fear is that the virus could be too close, within reach to infect. To the rescue: Apple Inc. and Google – in a rare partnership, the rivals are adding technology to the phone to alert us if we’ve come into contact with a person with the virus.

This is to be an opt-in feature – “contact-tracing” – that immediately alerts us: quarantine and isolate and then treat or seek treatment because we have been in close contact with an infected person.

Over time we can expect to see this application added to the basic phone operating systems.

Watch for the news in May for iPhones and Android; the management of the system will be by public health agencies. The reports to the phone will be on anonymous basis. As the two companies announced the collaboration,  The phone owner must opt-in to be part of the network.

MIT says it is developing a similar system. Of course, there are numerous privacy protection issues – we’ll see how that goes on the rollout.

Facebook Joins the Tracing Effort

Facebook is one of the world’s leading social media platforms (claiming 2 billion-plus of the “connected”). Users are invited to share their own coronavirus symptoms and experiences to help researchers pinpoint “where” the disease is occurring.

Carnegie Mellon, the great tech school, is using the data in pilot effort to try to see where data is telling us help is needed. Such as the all-important ventilators that are in such short supply. Or where “go home/stay home” guidance or orders are needed. The output is going to be shared with public sector health managers.

* * * * * * * *

Headed to the Drug Store? How Do You Know What You Need is There?

The CEO of the nationwide CVS drug store network, Larry Merlo, was interviewed by Barron’s Jack Hough. The CVS stores are in the midst of becoming “HealthHUBS” (to provide medical services) and strengthening is “Caremark” program for pharmacy benefits management. And now, the CVS workforce is pressed to help customers in the midst of the virus crisis.

Explains CEO Merlo: Home deliveries are up by three times the usual volume. Tele-medicine connections are up two times. CVS waived copays for tele-medicine and for deliveries. COVID-19 testing was starting in Shrewsbury, Massachusetts (in a store parking lot) to do 100-plus test a day. Stores are being kept stocked. Limits are applied to prevent hoarding.

The company maintains close contact with suppliers to keep the pipeline stocked and moving to stores. CDC guidelines are followed in the stores. Cash bonuses are being doled out to hourly store staff, pharmacists, managers. There is day care service where possible; sick leave is granted to part-timers.

Lessons Learned: Keeping mind the Chinese sign for crisis (“danger” and “opportunity”), we learn that the CVS CEO thinks the crisis has helped to strengthen the firm’s confidence in what CVS can do to help to change the trajectory of healthcare delivery.

Pharmacies (local) and tele-medicine (distant) are key elements. The critical role that healthcare professionals play in local communities (where CVS outlets are located) is really being demonstrated today.

Marriott and Hilton have been working with CVS to create a transition for those folks who are furloughed. Speaking of Marriott…

* * * * * * * *

Holding on to Customers / Serving the Local Community & Responders

Marriott CEO Arne Sorenson in communications to patrons explains that cancellations for scheduled trips are being adjusted out to June 30th (usually 24 hours notice is required). Expiration of points accrued for use at the properties is being extended. “Experience flexibility” is the theme.

And about helping the communities in which the resorts and hotels are based:

  • Marriott properties are donating food, pre-cooked and cooked meals to crisis responders, as well as a supply of cleaning products, masks, gloves, sanitizers, wipes, shower caps, anti-microbial wipes, and other supplies to local communities. Hotel windows sport signs and symbols of love and support to those passing by.
  • Working with American Express and JPMorgan Chase (two credit card partnering organizations), Marriott committed to provide $10 million worth of hotel stays to professionals on the front lines of the crisis. “Rooms for Responders” are being made available in New York City, New Orleans, Chicago, Detroit, Los Angeles, Las Vegas, Washington DC, and Newark, New Jersey.
  • To reach the responders, Marriott is working with the American College of Emergency Physicians and Emergency Nurses Association to help match doctors and nurses with available rooms.

And the “Community Caregiver Program” initiative (coordinated by franchisees and property owners) provides deep discount accommodations near to hospitals to first responders and healthcare professionals stepping up to serve local communities. This is available in North America, the Caribbean and Latin America (at 2,500 hotels to date).

* * * * * * * *

The Food Supply in the Crisis – Changes in Post-Crisis Behaviors

What is happening in the food sector? Mike Geraghty writing on the Sensient Technologies Corporation platform shares the results of a mid-March 2020 study by Nielsen that forecasts six key consumer behavior shifts happening during the crisis.

The findings will have a major impact on the food industry and will/could lead to permanent changes in the way consumers shop for food.

These are (by their headlines):

  • Proactive Health-Minded Buying
  • Reactive Health Management
  • Pantry Preparation
  • Quarantined Living Preparation
  • Restricted Living
  • Living a New Normal

Under each category headlines there are explanations of the shifts seen in consumer behavior and COVID-19 event markers. There’s valuable findings and shared perspectives here for you from the Sentient folks (providers of color technologies and services for the food and beverage industries).

The commentary: https://sensientfoodcolors.com/en-us/global-markets/covid-19-changing-food-industry/?utm_source=FoodNavigator&utm_medium=Email%20Top%20Text%20US&utm_campaign=COVID&utm_content=Apr%202020

* * * * * * * *

G&A Institute Team Note:
We continue to bring you news of private (corporate and business), public and social sector developments as organizations in the three societal sectors adjust to the emergency and organize their response.

New items are posted at the top of the blog post and the items posted today will move down the queue.

We created the tag “Corporate Purpose – Virus Crisis” for this continuing series – and the hashtag #WeRise2FightCOVID-19 for our Twitter posts. Do join the conversation and contribute your views and news.

Do send us news about your organization – info@ga-institute.com so we can share. Stay safe – be well — keep in touch!

We’re a Long Way from NYC’s Stonewall Inn, But Still a Ways to Go for Corporate LGBT Policies, Says Investor Coalition

Posted on by
Reply

by Hank Boerner – Chairman, G&A Institute

We’ve come a long way since the gay & lesbian communities mobilized and began in earnest their civil rights campaigns of the 1970s and 1980s and into the1990s. It was the New York City Police Department’s wrongheaded “raid” on the Stonewall Inn in Greenwich Village neighborhood in June 1969 that provided the important spark for the long-term, winning campaign by LGBT community for equal rights and equal protection under the laws of the land. “Stonewall” became a rallying cry for the next installment of the continuing “journey” of the civil rights movement in the United States.

The 1960s/1970s were the era of civil rights protests — we were involved in or witnessed and were affected by the civil rights / voting rights movement; the counter-culture “revolution” (remember the hippies?); the drive for adoption of the ERA (Equal Rights Amendment to the Constitution); and the anti-war movement protests against the conflict in Vietnam.  These were catalysts as well for the LGBT equal rights warriors of the decades that followed the 1969 Stonewall protests.

Finally, in recent years, after years of campaigning by LGBT advocates, most states have been adopting protective measures to protect the LGBT community.  Same gender marriage is a reality in many U.S. jurisdictions.

On November 7, 2014 The New York Times carried an update — it was a “milestone year” for LGBT rights advocates, the publication explained.  Voters in the 3Ms — Maine, Maryland and Minnesota – favored same-sex marriage; the first openly-gay US Senator (Tammy Baldwin) was elected by Wisconsin voters.

Still, there was vocal and often fierce opposition to same-sex marriage and equal protection under the law for LGBT citizens.

About LGBT Policies and the US Corporate Community

Many large companies (estimate:70 companies in the S&P 500 Index to date) have adopted non-discrimination policies to protect LGBT employees in the United States, says the 2014 Corporate Equality Index (a national benchmarking tool of the Human Rights Campaign).

We see these policies and programs for inclusion described in the many sustainability and responsibility reports we examine as exclusive data partner for the Global Reporting Initiative (GRI) for the United States of America.

Still, legal protections for LGBT citizens are not sufficient in numerous US jurisdictions. “Homophobic” policies and attitudes still reign in too many US cities and states and local communities.

And policies, attitudes, practices in other countries?  Well, that’s really a problem, say sustainable & responsible investment advocates — and steps are being taken to address the situation.

The S&R investment advocacy campaign is focused on the LGBT employees of US firms working overseas.  In countries like Russia, one of the world’s largest industrial economies, which has harsh anti-LGBT policies. The US investor group points out that 79 countries consider same sex relationships illegal; 66 countries provide “some” protection at least in the workplace; and in some countries, homosexuality is punishable by death.

In a business environment that continues to globalize in every aspect, with American large-cap companies operating everywhere, the investor coalition is calling on US companies to extend their LGBT policies on anti-discrimination and equal benefits policies to employees outside the United States. A letter was sent by the coalition to about 70 large-cap companies (the signatories manage US$210 billion in assets.

Shelley Alpern, Director Social Research & Shareholder Advocacy at Clean Yield Asset Management explains: “Today, most leading U.S. corporations now have equitable policies on their books for their [American-based] LGBT employees. Ther’s a dearth of information on how many extend policies outside of the U.S. In starting this dialogue, we hope to identify best practices and start to encourage all companies to adopt them.”

The objective of the shareowner advocacy campaign is to stimulate interest in the issue and create a broad dialogue that leads to greater protection of LGBT employees of US companies operating outside of the United States.

Mari Schwartzer, coordinator of shareholder advocacy at NorthStar Asset Management compliments US firms with effective non-discrimination policies and states:  “While we are pleased that so many companies have adopted non-discrimination policies in the USA which incorporate equal protections for LGBT employees, the next phase of implementation is upon us — we must ensure that international employees are receiving equal benefits and are adequately protected.  Particularly those stationed in regions hostile to LGBT individuals…”

Signatories of the letters sent to companies include these sustainable & responsible investing advocates:  Calvert Investments; Jantz Management; Miller/Howard Investments; Office of the Comptroller of New York City; Pax World Management; Sustainability Group/Loring, Wolcott & Coolidge; Trillium Asset Management; Unitarian Universalist Association; Walden Asset Management; Zevin Asset management.

Companies contacted include:  Aetna, AIG, Allstate, Altria, Amazon, American Express, Apple, AT&T, Bank of America, Baxter, Best Buy, Boeing, Cardinal health, Caterpillar, Chevron, Cisco, Citigroup, Coca Cola, Colgate Palmolive, Costco, CVS Health, Delta, Dow Chemical, DuPoint, EMC, FedEx, Ford Motor, General Electric, General Dynamics, General Motors, Goldman Sachs, Google, HP, Home Depot, Honeywell, Human, IBM Ingram Micro, Intel, J&J, JPMorgan Chase, Lockheed Martin, McDonalds, McKesson, Merck, MetLife, Microsoft, Morgan Stanley, Oracle, PepsiCo, Pfizer, P&G, Prudential, Sears, Sprint, Starbucks, Target, Texas Instruments, United Continental, United HealthGroup, United Technologies, UPS, Verizon, Visa, Walgreen, Walt Disney, Walmart, Wellpoint, Wells Fargo.

Summing up the heart of the issue for investors (and corporate employees):  “Corporations must take the extra step to ensure consistent application of LGBT-inclusive workplace policies throughout their operations, regardless of location,” said Wendy Holding, Partner, the Sustainability Group of Loring, Wolcott & Coolidge.