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IBM does not donate to politicians. Other companies need to be careful.

“I think they used to spend a lot of money on politics,” Krishna said.

In fact, Facebook today faces antitrust proceedings to dissolve the company while PAC is actively donating to lawmakers and other political parties.

According to the Center for Political Accountability, the only other large US companies that do not appear to be involved in direct political contributions are Automatic Data Processing, Fortune Brands, Meter Toledo, MSCI, Ralph Lauren, Schlumberger and Welltower.

None of IBM’s policies prevent employees from making their own political contributions. Watson and his son were politically active and had friendships with presidents such as Franklin D. Roosevelt and John F. Kennedy.

When corporate PAC emerged as a phenomenon in the 1970s, IBM reaffirmed its aversion to political contributions. Also to other types of so-called 527 organizations that allow businesses to send money to candidates without donating to specific individuals, or to “dark money” groups that engage in influence campaigns without disclosing donors. We do not divert corporate funds.

“Our political actions focus on issues, not candidates,” IBM CEO Frank Carrie told The New York Times in 1978. In fact, IBM spends millions of dollars a year on lobbying, running internal government teams, and hiring outsiders. A company that asserts a company’s claims regarding specific rules or regulations.

In other words, companies are free to “process references” on issues that are important to them. But they shouldn’t even pay the reference.

Proponents of election funding reform have long sought to limit corporate PAC contributions, but Washington didn’t want to reform itself. And why? And when it comes to businesses, PAC funding provides them with power and influence, so they too had little incentive to reduce themselves.

IBM does not donate to politicians. Other companies need to be careful.

Source link IBM does not donate to politicians. Other companies need to be careful.

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