Bailing Out of the Chamber: Are Apple and Nike Smart or Shortsighted?
The Wall Street Journal edit page has leapt to the defense of the Chamber of Commerce, rattled in recent days by the high-profile defections of a few big companies at odds with the Chamber’s stance on climate change.
The thrust of today’s editorial, which centers on the recent departures of Apple (AAPL) (from the Chamber) and Nike (NKE) (from the Chamber’s Board of Directors), boils down to a single premise: “Apple and Nike are putting green political correctness above the long-term interests of their own shareholders.”
The WSJ argues that both companies will suffer in the long run by bailing out of the Chamber now. By staying in, they could help fight against any legislation that would unduly raise the cost of doing business, in addition to counting on the Chamber’s help on other issues in the future.