Many Woke corporations responded quickly to Roe V. Wade’s overturn. They issued quick statements, expressing their outrage and promising to pay employees to travel abroad for abortions if their own state prohibits it. The Walt Disney Co, which can’t seem to get out of its own way recently, is one of those companies.
A Florida Disney employee said that the company’s position would be “bad for business” and “alienate” customers.
“This is yet another attempt by Disney to take a political stance that will inevitably alienate potential customers,” Castillo said.
— Jose Castillo for Congress (@JoseForFlorida) June 25, 2022
Disney issued a memo stating:
We have systems that ensure employees who can’t or won’t travel to receive care. These benefits include family planning, rare diseases, and transplants.
Jose Castillo works as a resort manager in Orlando. He is also running for the GOP FL-9 Congressional Nomination.
Disney knew that this memo would be published, and it was made national news.
The letter was sent anyway because Disney wanted to make a political statement and attempt to influence the country’s political process.
Disney is not the only company to get political about abortion following Roe’s overturning. Meta, American Express Bank of America Dick’s Sporting Goods Goldman Sachs Dick’s Sporting Goods, and Apple all took similar woke positions.
Notably, McDonald’s and PepsiCo as well as Coca-Cola General Motors, and Tyson didn’t weigh in. Walmart, the largest employer in the country, was silent as well.
In recent months, we have seen that Disney’s political activism has had a negative effect on the company’s financial well-being. The Board of Directors continues to make divisive comments about political issues, which I believe is a violation of their fiduciary duty toward shareholders.
Why are companies still involved in politics? Brandon Morse is a colleague who writes that it’s financially prudent to do so when it comes to abortion.
They aren’t doing this because they care. Maternity leave can be costly and time-consuming. It is much more affordable to spend a few hundred dollars and cut costs. Employee #4567 can quickly and easily return to work this way.
Maurice Schweitzer is a professor at Penn’s Wharton School of Business. He says, “We are in a moment where we expect corporate leaders also to become leaders in politics.” Many employees are looking for companies that offer good pay and support their values.
Although it is true that employees expect their employers to be leaders in politics and policy, the analysis doesn’t take into account that many customers and employees are against your preferred business being involved in our everyday lives.
Disney is pushing for progressive politics recently and its stock price fell nearly 45 percent over the past twelve months.
You’re covering abortion travel, which is weird since you’re in the kids business. One would think you’d want all babies to be born, since they’re all potential new customers.
— Monica Crowley (@MonicaCrowley) June 26, 2022
It’s hard to see why corporations would want in on politics when they aren’t benefiting from it.
I don’t plan to resubscribe.