Running a business is never easy but U.S. corporate leaders say that recent political and economic uncertainty could make it more difficult than ever.
Unfounded allegations around the legitimacy of the presidential election, last week's mob attack on the U.S. Capitol incited by President Donald Trump and yesterday's impeachment of the president for the second time could have negative effects on business, according to corporate leaders, some of whom have called for an end to the upheaval.
In a statement released by the National Association of Manufacturers last week, CEO Jay Timmons referred to protesters as "armed thugs" and demanded that the violence cease.
"We are trying to rebuild an economy and save and rebuild lives," said Timmons. "But none of that will matter if our leaders refuse to fend off this attack on America and our democracy — because our very system of government, which underpins our very way of life, will crumble."
The statement came on the heels of an open letter signed by nearly 200 business leaders demanding that Congress certify the electoral vote and smooth the path for an orderly presidential transfer of power.
Jacobs Engineering, along with other U.S. corporations from Marriott to McDonald's, has suspended all political contributions in the wake of the violence at the U.S. Capitol.
"The peaceful and respectful transition of power is fundamental to our democracy," said CEO Steve Demetriou in a statement. "The disturbing events at the U.S. Capitol put our elected leaders at risk and undermined the fundamental democratic principles of free speech, peaceful protest and open and free elections."
Wall Street also seemed to react to the upheaval, according to The Washington Post. U.S. markets ended their record-breaking streak Monday as investors considered political and economic uncertainty amid the worsening pandemic.
What does all this mean for the construction industry? The Construction Dive staff wants to know your thoughts about whether political unrest can affect contractors' bottom lines. Answer our survey and have your voice heard.
