Will wealthy Democrats leave their wallets in their pockets should Elizabeth Warren succeed in her presidential bid? As Warren’s campaign seemingly gains more momentum, wealthy Democratic Party members may not to be so apt to take their wallets out. Those wallets belong to company owners, influential shareholders, top executives and board members, John D. Stall informs readers in the WSJ.
When Mark Zuckerberg’s colorful comments about Elizabeth Warren hit the internet earlier this week, we were granted an uncharacteristically clear look into the mind of a tech billionaire who normally guards his tongue. The Facebook Inc. FB 0.60% founder warned if the Massachusetts senator gets elected president next year and tries to break up the company, Facebook could face an existential legal challenge.
Even though Mr. Zuckerberg believes Facebook would prevail, the situation would “still suck for us,” he said during a leaked closed-door Q&A session with employees published by The Verge.
It’s not surprising that Zuckerberg, along with other top Democratic supporters, is concerned about candidate Warren.
Ed Mills: Mr. Stall spoke recently with Ed Mills, Washington policy analyst for Raymond James Financial Inc., who acknowledged that the changing dynamics in the election was a dominant topic in recent days. “I had many more conversations about Elizabeth Warren in the last week than I did about impeachment.”
Warren’s Dangerous Agenda to Healthcare, Financial Services, Energy
Mr. Mills, a longtime congressional staffer who focused on legislative and regulatory issues that spanned taxes to banking to trade, spent time as a Senate staffer working on small business and entrepreneurship. He warns that Ms. Warren’s progressive agenda will hurt healthcare, financial services and energy.
Pain of Trade Wars Pales vs. Warrens Anti Business Policies
Rob Parmentier: “We’re all worrying about it,” Rob, the CEO of Wisconsin-based Marquis Yachts told Mr. Stall when asked about Ms. Warren’s campaign. He was headed to a meeting with boat dealers in Florida. Mr. Parmentier operates in an industry hit hard by tariffs resulting from President Trump’s stance with the European Union. He says pain from trade wars pales in comparison to policies held by Ms. Warren that are viewed as anti-business.
Scott Porter: president of Formula Boats, points to the strong economic backdrop manufacturers have enjoyed under the Trump administration. President Trump’s deregulation push, he offered, has eased the burden of operating a manufacturing company in the Midwest during the past three years.
Neil Malhotra, a Stanford Graduate School of Business professor says, “Businesses can’t just be cloistered,” CEOs, even those with primarily liberal views, may need to oppose a Democratic candidate who is viewed as being anti-business.
Lori Calvansina, RBC Capital Market’s head of U.S. equities strategy, said recent jitters in the stock market are investors showing concern about a Warren presidency and its potential impact on markets. “People are starting to wake up to the risk” she said.
As shareholders – including major institutional investors – express concern, top executives will be pressed to demonstrate they aren’t asleep at the wheel.
Read more here.
Zuckerberg Leaked Audio: It Would ‘Suck’ If Elizabeth Warren Wins in 2020
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