Perspective: When corporations buck powerful politicians, there is temptation to resort to retaliation
Certainly, political leaders have long sought to leverage both lawful and unlawful means to shape business behaviors. Much like DeSantis’s attacks on Disney, 61 years ago this month President John F. Kennedy waged a “war” with the nation’s steel barons. The Kennedy administration engaged in a campaign of harassment and intimidation undertaken by the FBI and the IRS to coerce the steel barons to come to heel, rather than pursuing legal means such as antitrust actions in the courts.
But on April 10, Blough handed Kennedy a news release announcing that his company was raising prices beyond what they had agreed upon. Kennedy was furious at this betrayal, viewing this as a slight against him and against a key element of his base, organized labor. Kennedy’s secretary of labor, Arthur Goldberg, proclaimed “this is war,” while the president told McDonald, “You’ve been screwed and I’ve been screwed.
Even the FBI and the IRS got involved. One steel executive complained “that all the telephone calls of the steel executives in all the country are being tapped” and that “the income tax returns of all the steel executives in the country are being scrutinized.” FBI transcripts of the steel executives’ conversations were allegedly forwarded to the president’s office.Kennedy reportedly relished flaunting this power.
The strategy may have worked in the short term, but it had long-term consequences. By April 12, the steel war had ended, with all the major steel companies rescinding their price increases. He also won the plaudits of a majority of Americans, with 73 percent of them expressing a favorable opinion after Kennedy forced the price rollback.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Watch the Stars of 'Peter Pan & Wendy' Tour the Jolly Roger!'Peter Pan & Wendy' is ready to share the classic J.M. Barrie tale with a whole new generation -- and only ET has a behind-the-scenes look!
Baca lebih lajut »
Perspective | Why Tinder is my favorite travel appPerspective: Tinder dates make the best tour guides in Europe, as long as you FaceTime first.
Baca lebih lajut »
Perspective | The NBA finally made Draymond Green feel the pain of overreactionPerspective: The league responded to a stomp with what many are considering an overstep. Karma is a better way to describe it.
Baca lebih lajut »
The First Look Debate from a Wedding Photographer's PerspectiveHaving a 'first look' as part of a wedding day is something people have all kinds of views about. Here are throughts by a wedding photographer.
Baca lebih lajut »
Perspective | The Nixon-era roots of today’s opioid crisisOur policies are making it harder to address the opioid crisis.
Baca lebih lajut »
Perspective | The future of American luxury wrestles with past at the Hollywood Bowl“It’s a beautiful journey,' said designer Jerry Lorenzo, 'but it’s even more beautiful if you pay attention to every part of it and understand why it is what it is.”
Baca lebih lajut »