With CEOs Fleeing Like Mad, Trump Is Killing His Economic Advisory Panels

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Many CEOs have resigned from Trump’s Manufacturing Council after his delayed, milquetoast response to the white supremacist violence in Charlottesville, Virginia. To make matters worse, a New York Times report broke the news Wednesday morning that the members of Trump’s Strategic and Policy Forum were considering disbanding. So the president decided to end both groups via Twitter before anyone else could disband from either one.

By Wednesday, the Manufacturing Council was so short of members that Stephen A. Schwarzman of Blackstone Group summoned everyone to join an emergency conference call about how they should proceed. Before they could come to an agreement, however, Trump himself pulled the plug. In an early afternoon tweet he announced, “Rather than putting pressure on the businesspeople of the Manufacturing Council & Strategy & Policy Forum, I am ending both. Thank you all!”

Denise Morrison, CEO and President of Campbell’s Soup, was one of the latest CEOs to take leave before Trump’s announcement. She joined Inge Thulin of 3M, Kenneth C. Frazier of Merck, Under Armour’s Kevin Plank, Intel’s Brian Krzanich, and Scott Paul of the Alliance for American Manufacturing — all of whom left earlier this week. Morrison issued a strong statement on the company’s website:

“Racism and murder are unequivocally reprehensible and are not morally equivalent to anything else that happened in Charlottesville. I believe the President should have been — and still needs to be — unambiguous on that point.

Following yesterday’s remarks from the President, I cannot remain on the Manufacturing Jobs Initiative. I will continue to support all efforts to spur economic growth and advocate for the values that have always made America great.

Trump previously blasted the first round of CEOS to resign, calling them “grandstanders” and saying they would soon be replaced — a claim negated by the council’s dissolution. He also singled out Ken Frazier, the only African-American member of the council, in a personal attack. Frazier called on America’s leaders to “honor our fundamental values by clearly rejecting expressions of hatred, bigotry, and group supremacy.” So Trump lashed out on Twitter, type-shouting that Frazier’s resignation would give him “more time to LOWER RIPOFF DRUG PRICES.”

The president’s announcement that the councils are finished was far more measured. But, like his remarks on the events in Charlottesville, it may be too little too late. His approval rating has sunk from a previous all-time low to new depths, a hole he’s dug one tacit apology for white supremacy at a time.

(Via New York Times)

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