Courtesy of Benzinga.
Corporate CEOs are scrambling to best position themselves and their companies under President-elect Donald Trump’s administration.
According to a Bloomberg report, Trump happens to be both a “champion of corporate tax cuts” while simultaneously being an “anti-free trade and a big-company bully. The characterization of the president-elect was perhaps best exemplified by comments made by Manny Chirico, the CEO of PVH Corp (NYSE: PVH).
“I’ve got a great deal of confidence with the new administration coming in,” Chirico told Bloomberg Television, adding in the next breath, “You have to be concerned about some of the talk and the rhetoric on trade.”
Expect The Worst?
Liz Cohen, an executive vice president for financial communications at Weber Shandwick, a public-relations strategy firm, is advising clients to undertake a vulnerability analysis just as they would for an agitated activist investor.
She told Bloomberg that under Trump’s reign, companies need to “take a look at what parts of the business could be criticized.”
Trump has already publicly criticized two companies through tweets, Boeing Co (NYSE: BA) and Lockheed Martin Corporation (NYSE: LMT) — two companies within a sector that was expected to flourish under his administration.
“A lot of guys are thinking, ‘Oh man, I don’t want him tweeting about me and my company,'” Ken Lowe, CEO of Scripps Networks Interactive, Inc. (NASDAQ: SNI) also told Bloomberg.
Trump Is A CEO
One of Trump’s major selling points throughout the campaign was his experience running companies, and Lowe pointed out Trump is merely using this experience in his role as president.
Lowe added that Trump is acting like any other CEO would and is publicly asking, “Why are you spending so much money?”
Image Credit: By Michael Vadon (Donald Trump) [CC BY-SA 2.0 (http://creativecommons.org/licenses/by-sa/2.0)], via Wikimedia Commons
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