… and you thought they just sold tyres.
When the Goodyear Tire & Rubber Company announced their first quarter 2020 financial numbers, it was a lacklustre affair. Sales were down 15% from the year before. Unit volumes and shipments were also down and so too was the profit. In fact the company reported a $619 million loss (including impairments).
It’s Covid19 time though, so stock markets are likely to forgive and life would go on. And then the company does the unthinkable – it got political!
Conservative warnings to big corporates are now lit up in neon.
‘Get woke, go broke’.
Tired of the of the left-wing, political correct cancel culture; right-wing conservative counterculture is hitting back. And they are doing so with their wallets.
Failing to heed to the warnings and experiences suffered by corporate peers such as Gillette; Goodyear published the following employee dress code. As per usual – some disgruntled employee uploaded it onto Twitter… and then all hell broke loose.
As far as conservatives were concerned, Goodyear had elected to stand with the enemy – and a conservative boycott would ensure.
And it was not just your average run-of-the-mill conservatives calling for the boycott. This message of boycott was coming straight from the top, with US President Donald Trump tweeting –
The message to business has never been clearer.
Sell your product, but keep your politics to yourself.
Do not tell your customers how to vote, think, behave or otherwise.
Do not force your employees to adopt a single political leaning.
Do not assume that you are the authority on all that is good and righteous.
With Goodyear being one of our favourite brand of tyres, we at Goldsmith Money will not be joining in such a boycott. Regardless of how we feel however, this is going to hurt Goodyear and it will hurt badly.
And for our valued readers, the Financially Awakened, the message is also clear. Do not stand in the way of the trending conservative counterculture. This trend is growing stronger each and every day.
Happy trend surfing.