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After ICE Violence, CEOs Face The Risks Of Speaking Out Against Trump · DEEP INSIGHT

• 0:03
  Speaker 1: In the wake of violent confrontations between federal agents and
• 0:05
  Speaker 1: protesters over President Donald Trump's immigration policy, corporate leaders are
• 0:09
  Speaker 1: now starting to do something they've rarely done in the
• 0:11
  Speaker 1: first year of Trump two point zero disagree with the president.
• 0:14
  Speaker 2: I think they should change your post immigration. I've said it.
• 0:17
  Speaker 1: JP Morgan CEO Jamie Diamond publicly criticized Trump's immigration policy,
• 0:21
  Speaker 1: making an apparent reference to videos of confrontations between ice
• 0:24
  Speaker 1: agents hu targets.
• 0:26
  Speaker 2: Of course, I don't like what I'm seeing, you know,
• 0:28
  Speaker 2: with you five grown men beaten up little women. I'm
• 0:31
  Speaker 2: a fanatic about detail. Show me who's been rounded up?
• 0:34
  Speaker 2: Are they here legally? Are they criminals? Did they do
• 0:37
  Speaker 2: some law? Did they break American law? But I don't
• 0:40
  Speaker 2: like what I'm seeing.
• 0:41
  Speaker 1: Well, Trump had warned he would suit JP Morgan days
• 0:43
  Speaker 1: before Diamond's commented Davas, the implication was clear. Companies faced
• 0:47
  Speaker 1: retribution for perceived slights against the president.
• 0:50
  Speaker 3: President Trump has filed a lawsuit against JP Morgan, Chase
• 0:54
  Speaker 3: and Jamie Diamond personally over allegations of de banking of
• 0:59
  Speaker 3: Trump related bank accounts during the period of time that
• 1:03
  Speaker 3: the president was out of office. This is a suit
• 1:05
  Speaker 3: for as much as five billion dollars filed by the
• 1:08
  Speaker 3: President of the United States and a number of Trump entities,
• 1:12
  Speaker 3: And so this is a flashpoint of tension now between
• 1:15
  Speaker 3: the President of the United States and one of the
• 1:17
  Speaker 3: most powerful bankers on Wall streets.
• 1:29
  Speaker 1: Immigrant workers made up nineteen point two percent of the
• 1:32
  Speaker 1: US were enforced in twenty twenty four. That means that
• 1:34
  Speaker 1: about nineteen out of every one hundred workers in the
• 1:37
  Speaker 1: US labor force are foreign born. These workers have made
• 1:40
  Speaker 1: important contributions to American companies, which is why citte l
• 1:43
  Speaker 1: COEO Ken Griffin doesn't appear to support Trump's immigration policies either.
• 1:47
  Speaker 4: The bigger problem for the United States is we're potentially
• 1:51
  Speaker 4: losing access to the best and brightest minds from around
• 1:54
  Speaker 4: the world who have immigrated to America, who have created
• 1:58
  Speaker 4: just a tremendous number of jobs in the United States
• 2:02
  Speaker 4: on the back of their creativity and ambition.
• 2:04
  Speaker 1: Jamie Diamond and Ken Griffin among the only CEOs of
• 2:07
  Speaker 1: major corporations who have publicly expressed doubts about Trump's immigration policy.
• 2:11
  Speaker 5: They don't want to speak out alone because they are afraid.
• 2:14
  Speaker 5: For good reason. It's not paranoia. They know that they
• 2:18
  Speaker 5: will be shaken down and coerced, intimidated and retaliatory gestures
• 2:22
  Speaker 5: are quite severe.
• 2:23
  Speaker 1: But after nurse Alex Pretty was killed by federal agents
• 2:26
  Speaker 1: in Minneapolis, the second death of an American decitizen there
• 2:29
  Speaker 1: in recent weeks, more than sixty business leaders from major
• 2:32
  Speaker 1: state based companies, including Target, the Healthcareup and three M
• 2:36
  Speaker 1: signed a letter on jan twenty five urging immediate de
• 2:39
  Speaker 1: escalation of tensions. Notably, the letter avoided any direct criticism
• 2:43
  Speaker 1: of President Trump and this.
• 2:44
  Speaker 5: Warning shot they don't have to have the strongest possible statement.
• 2:47
  Speaker 5: What they've said already already shows the White House. We're
• 2:50
  Speaker 5: talking to each other. You can't take us down individually
• 2:53
  Speaker 5: when we're working as a group. That's why we see
• 2:55
  Speaker 5: Trump retreat.
• 2:57
  Speaker 6: You tweeted yesterday the word just fear.
• 3:00
  Speaker 7: It because I talked to all the CEOs that I
• 3:02
  Speaker 7: mentioned here. But something like that they might let slip
• 3:08
  Speaker 7: a criticism, that they might let slip it anywhere, could
• 3:11
  Speaker 7: make it so that their shareholders would feel like, why
• 3:14
  Speaker 7: did you send your stock down? It's fear of the
• 3:16
  Speaker 7: president and fear of the shareholders saying, how could you
• 3:19
  Speaker 7: not realize that the president can.
• 3:21
  Speaker 1: Do what every seer asymmetric risk except for sure. A
• 3:26
  Speaker 1: comparison between Trump's first and second terms reveals a stark
• 3:30
  Speaker 1: shift in the political climate. During Trump's first term, despite
• 3:33
  Speaker 1: his criticism of corporate support for the Black Lives Matter
• 3:36
  Speaker 1: we written, many companies, including Meta, Walmart, Amazon, Nike, Target,
• 3:41
  Speaker 1: publicly aligned themselves with racial justice efforts in twenty twenty.
• 3:44
  Speaker 1: In contrast, American CEOs have largely avoided publicly criticizing his
• 3:48
  Speaker 1: policies this time, possibly out of feed on retribution.
• 3:51
  Speaker 8: Target is a good example of how local companies are
• 3:54
  Speaker 8: responding very differently than they did in the past. Years ago,
• 3:57
  Speaker 8: during Black Lives Matter, when George Bloyd was killed, Target
• 4:00
  Speaker 8: was quick to put out a statement and make specific commitments,
• 4:04
  Speaker 8: things like donating to local nonprofits and stepping up its
• 4:07
  Speaker 8: diversity commitments. This time around, Target was much slower to
• 4:11
  Speaker 8: put out a statement. It signed a letter with a
• 4:13
  Speaker 8: group of corporations rather than standing alone. It also sent
• 4:17
  Speaker 8: a video message to employees, but the language it used
• 4:19
  Speaker 8: was much vaguer than in the past.
• 4:21
  Speaker 9: When we ended up having a conversation on Thursday about
• 4:24
  Speaker 9: the reluctance of corporate America to speak and interestingly, Jim
• 4:28
  Speaker 9: You shared some thoughts, and I did as well, because
• 4:30
  Speaker 9: it's not even publicly, it's even privately. There is a
• 4:33
  Speaker 9: fear amongst executives to criticize this administration in any real way.
• 4:39
  Speaker 6: If in fact, you speak out against the administration and
• 4:42
  Speaker 6: their efforts, it is possible that there will be retribution.
• 4:47
  Speaker 6: And so you have a lot of zero work part
• 4:49
  Speaker 6: of it who do not want to stay anything.
• 4:53
  Speaker 7: That is all the more reason to speak out.
• 4:56
  Speaker 8: There are really two things that can move the needle
• 4:58
  Speaker 8: with more corporate leaders speaking out, and one of them, unfortunately,
• 5:01
  Speaker 8: it could be an escalation in Minneapolis or elsewhere where
• 5:04
  Speaker 8: there's more tragedy unfolding and a feeling that corporate leaders
• 5:09
  Speaker 8: need to speak out and how their voice is heard.
• 5:11
  Speaker 8: The second thing is that they're watching public opinion. They
• 5:14
  Speaker 8: want to be in line with what their customers want,
• 5:16
  Speaker 8: and if more people are shifting towards feeling uncomfortable with
• 5:20
  Speaker 8: ISIS tactics or immigration policy or the administration, it may
• 5:24
  Speaker 8: come to a point where corporate leaders feel like they
• 5:26
  Speaker 8: need to say and do something.
• 5:28
  Speaker 10: Consumers have a lot of power here. They may not
• 5:31
  Speaker 10: realize it, but they actually have a lot of economic
• 5:34
  Speaker 10: power here. And so if there was a multi pronged,
• 5:38
  Speaker 10: multi coordinated effort to pull back on consumption, even just
• 5:41
  Speaker 10: a little bit in mass. These companies would react to
• 5:45
  Speaker 10: that because that's a specific sort of impact on their
• 5:48
  Speaker 10: bottom line. But right now I think they're looking and
• 5:51
  Speaker 10: serving the landscape and they're saying, hey, you know, we
• 5:54
  Speaker 10: just need to sort of stay out of these crosshairs
• 5:56
  Speaker 10: for now. We have to be careful and wait this
• 5:58
  Speaker 10: storm out and not make critical errors where we might
• 6:02
  Speaker 10: put ourselves in harms way in the short run.