
Corporate Leaders Need to Keep Their Mouths Shut
After more than a year of exhausting controversies over free expression at colleges and universities, America's business leaders would do well to take a simple lesson from embattled leaders in higher education:
Keep your mouth shut.
The lesson has become even more important with the recent gravitation of some corporate leaders toward President Trump. Such public fawning, which would have been unthinkable just a few years ago, demonstrates how unprincipled and fickle corporate political positions have always been.
Increasingly, universities have adopted neutrality policies to recommit to their core mission. So can corporations. The key is committing to institutional neutrality, which requires leaders to stay silent on social and political issues that do not directly affect their operations. This means reining in corporate political statements — progressive and conservative — as well as the political activity of chief executives like Elon Musk and political flip-flops by companies like Meta. Our own university, the University of Chicago, committed to this ideal in 1899 and restated that commitment in the seminal Kalven Report of 1967. This has freed individuals in our community to express their own opinions and ideas in lively debate.
For decades, few other universities have made this commitment. But its value for them — and for business corporations — has become clearer over the past year. The Gaza war created a no-win situation for university leaders accustomed to speaking out on political issues. On the one hand, bland institutional statements on current events have no impact, satisfy no one and relegate the institution to a role as a second-rate political actor. On the other, statements with real substance threaten to alienate and silence those who disagree. As a result, more than two dozen schools, including Harvard and the University of Pennsylvania — whose presidents resigned, in part, after stumbling at a congressional hearing on campus antisemitism — have now adopted neutrality policies akin to Chicago's. More are in the works.
Corporate leaders in the private sector can benefit from these hard lessons.
Along with students and faculty members, some employees, shareholders and customers take the view that 'silence is violence.' They demand that management take positions on issues outside the remit of the company, even if there are other stakeholders — older employees, customers of a different political affiliation — who would disagree. Corporate boards and chief executives have increasingly given in to the demands, creating a virtue cascade. As more companies speak out, it creates competitive pressure on others to join in. They have taken to issuing vanilla statements conveying no real information about their culture or purpose. And predictably, the few times when statements veered away from the mainstream, the corporations were pressured to backtrack.
Notoriously, Disney's now former chief executive Bob Chapek drew criticism from employees and a furious response from Gov. Ron DeSantis of Florida with his reaction to the state's Parental Rights in Education legislation, also known as the 'Don't Say Gay' bill. Waffling from silence to explaining that silence to a firm statement of opposition, Mr. Chapek's approach was a fiasco that alienated almost everyone, including Mr. DeSantis and the Disney employees who opposed the bill.
While some other corporate leaders may be enjoying the favor they have found in taking sides, they would be wise to heed the lesson of Ivy League schools that discovered the benefits of institutional neutrality a little too late. These corporations would benefit from adopting a formal policy that guides their leaders on when, if ever, they may speak out.
A policy of this sort should have two foundational components.
First, there must be a commitment by the corporation and its leaders to refrain from speaking. This is valuable because it allows one to assert that silence is a considered (and consistent) policy. In fact, institutional silence should be the default assumption. With regard to individual chief executives like Elon Musk, this default policy should require silence in any context where their speech, like that of university presidents, might be attributed to the entire company. Mr. Musk may present a unique case because his pervasive policy influence, for now, on the Trump administration, and because its regulatory activity could actually benefit Tesla and Mr. Musk's other companies. But for most chief executives, political advocacy that is unrelated to the corporation's core operations tends to be self-defeating. It remains to be seen whether Mr. Musk's political gambit will be an exception or prove the rule.
Of course, there will sometimes be a compelling business case for corporate speech. Ben & Jerry's, for example, has adopted a strong social justice branding that does not seem to hamper its bottom line. Other times, a unified or crucial employee bloc or customer base may have such strong views that the corporation adopts a formal policy of speaking on a specific issue.
In 2020, the commissioner of the National Basketball Association issued a statement on racial injustice and police brutality that was consistent with the positions and boycotts taken by a unified bloc led by its marquee players.
The recent policy flips that Mark Zuckerberg announced at Meta — ending its fact-checking program and loosening content moderation — may constitute another gray area. On the one hand, these are operational decisions. On the other, their original adoption and more recent recission were undoubtedly related to politics. And a company or university's need to backtrack — just as in the cases of Mr. Chapek at Disney and the presidents at Harvard and Penn — powerfully demonstrates the no-win nature of playing amateur politics.
For large corporations, such operational exceptions should be rare. In a world of diverse viewpoints, the decision to favor one constituency over another is fraught and should not be made lightly. With varied employees and customers — young and old, liberal and conservative — meaningful statements are more likely to alienate than to satisfy. At the very least, the decision to speak on political issues should be part of a deliberate corporate governance policy.
Second, there must be a clearly stated — and ideally, narrow — exception for statements that are necessary to maintain or defend the company's ability to operate. Boards should think about exactly which types of circumstances warrant an exception and then leave it to the judgment of management about how to apply the policy. One could imagine a company saying, 'It is our policy that Best Widget Inc. will not make institutional statements on political matters that do not directly affect our ability to operate. We influence society through producing the best widgets.' This would allow speech on widget regulation, as well as on policies implicating the business's direct relationships with employees and customers. But it would not include a corporate policy extrinsic to its business interests.
Without neutrality policies, we can expect many of the same chief executives who have been currying favor with Mr. Trump to turn back left with the next political wind.
In both the business and university contexts, silence often takes courage and a commitment to institutional modesty. For a corporation, a general policy of silence can remind stakeholders that the business of the business is, well, business.
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12 minutes ago
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How Trump broke the politics of Medicaid
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It's clear in the ads: TV ads for House and Senate races last election cycle were 26 times as likely to mention Medicare, the health care program for seniors, as Medicaid, according to a POLITICO analysis of transcripts from AdImpact, which tracks political advertising. But that's already changing. 'I saw elections 16 years ago where people ran on cutting Medicaid, and there were folks who were on Medicaid who were in the crowd cheering them on,' said Kentucky Gov. Andy Beshear, a potential Democratic candidate for president in 2028. 'That's not the case of where we are today.' The Medicaid provisions in the GOP's budget bill have prompted new debate even among Republicans. To Beshear and others, that provides an opening. Democrats, he said, should stand in front of hospitals and 'talk about how important Medicaid is,' he said, while emphasizing 'the impact on specific communities.' 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That careful messaging is a stark difference from a decade ago, when congressional Republicans explicitly prioritized cutting Medicaid and governors blocked its expansion. One reason for the turnaround: A series of red states expanded Medicaid by ballot initiative between 2017 and 2020 — largely with backing of Democratic-aligned groups — and GOP voters defied their state and local political leaders in large numbers to support the program. Nationwide, enrollment for Medicaid and the Children's Health Insurance Program rose from just shy of 70 million in 2014 to nearly 79 million at the end of 2024. And at the same time more people were entering the program, including Republican voters in red states, an electoral realignment was shifting working-class voters toward Trump. 'Medicaid has a broader and broader appeal the more people that are on it, and the more people who know someone who's on it. That's incredibly powerful politically,' said Kelly Hall, executive director of the Fairness Project, which backed state Medicaid referendums. The makeup of Medicaid users was changing — and so were its politics. For a long time, the program has been relatively absent from federal races. Even in the 2018 midterms, when defending the Affordable Care Act was central to Democrats' midterm messaging, only 30 TV ads across all congressional elections mentioned Medicaid, while nearly 500 mentioned Medicare, POLITICO's analysis found. But Medicaid expansion was a major issue in many gubernatorial and state legislative races in the 2010s. The success of ballot measures proved the program had a strong constituency, even in red states. And Trump's popularity with working-class voters also reshaped the GOP's coalition. Compared to Republican candidates before him, Trump's 2024 gains were strongest in counties with high Medicaid enrollment, a POLITICO analysis found. In the 2024 election, 49 percent of Medicaid recipients voted for Trump compared to 47 percent for Kamala Harris, according to Morning Consult polling. That means cuts to Medicaid or reductions in eligibility could now pose a political risk for Republicans. People who could lose benefits would not just be Democratic voters in blue states, but Republicans in red states and swing districts who supported Trump last year. Drew Kent, a GOP strategist whose firm recently polled Pennsylvania's voters, found a slight majority, including 30 percent of Republicans, disapproved of work requirements for Medicaid. 'These results are definitely a bit surprising to me,' Kent said. 'It clearly shows the challenges and importance, particularly in a political swing state like Pennsylvania, of getting the policy, messaging, and communications right on an issue of this magnitude.' Republicans are aware of the potential political liability: The GOP's argument about the bill, which could still face changes in the Senate, is that the changes to the program do not amount to cuts for voters. 'The President wants to preserve and protect Medicaid for the Americans who this program was intended for,' White House Press Secretary Karoline Leavitt said at a press briefing last month. 'We want to see able-bodied Americans at least working 20 hours per week, whether that's part-time or full-time, whether that's even looking for work or volunteering for 20 hours a week, if they are receiving Medicaid.' A memo from the National Republican Campaign Committee last month advised the party to go on offense, saying the bill protects Medicaid by 'removing illegal immigrants and eliminating fraud.' Among its provisions, the bill would penalize states such as California that use state dollars to extend Medicaid benefits to undocumented immigrants. According to CBO estimates, of the nearly 11 million people who would lose Medicaid or other health insurance due to the bill, about 1.4 million are immigrants. GOP strategist Josh Novotney argued that approach is in line with what Trump's working-class base wants. 'Most blue-collar Trump supporters I have met or spoken with in large groups do not want their hard-earned taxes going to other people, whether that is student debt forgiveness or Medicaid abuse,' he said. 'That is not at odds with his supporters.' A Kaiser Family Foundation poll released Friday found a plurality of Republicans, 42 percent, believed the Trump administration's policies would strengthen Medicaid, with only 22 percent believing the program would be weakened. But Republican Medicaid enrollees were more split, with 35 believing Trump would strengthen the program and 34 percent saying he would weaken it. That is where Democrats see an opening. A nonprofit affiliated with Democrats' House campaign arm is already targeting swing-district Republicans with digital ads accusing members of cutting Medicaid to pay for tax breaks for the rich. And a flurry of other liberal groups have purchased TV or digital ads and planned billboards and other activist campaigns. 'To the extent that this is becoming a bigger political issue, it's simply because their efforts to destroy Medicaid are fundamentally more dangerous and more real than ever before,' said Sen. Chris Murphy (D-Conn.), whose PAC is helping fund a group that opposes Medicaid cuts. As the bill currently stands, the Medicaid work requirements would not go into effect until the end of 2026. That means Democrats largely won't be able to point during their midterm campaigns to people who have already lost access to Medicaid. Instead, they may rely on voter trust on an issue that has historically worked for them. While polls have found voters consistently prefer the GOP more on issues such as the economy and immigration — which helped propel Trump's win last year — health care has remained a rare bright spot for Democrats. 'If there is a debate or chaos or uncertainty about Medicaid cuts, then I think Democrats stand to benefit from that because of the brand advantage on health care,' said Democratic pollster Zac McCrary. 'One of the few places where we have maintained an edge.'