Trump has failed to win business backing even though he’s proposing a massive tax cut that will favor the very rich and corporations.
Howard Schultz, chief executive of Starbucks, endorsed Hillary Clinton for president earlier this month.
“I think it’s obvious Hillary Clinton needs to be the next president,” Schultz said in an interview at the CNNMoney American Opportunity conference in New York.
Clinton has the ideal “life experience” and “professional experience” to be president, he said.
Schultz is a life-long Democrat who also supported President Obama’s election and re-election. But Clinton is also winning support among Republican business leaders.
Republican-turned independent Michael Bloomberg, who built a multi-billion dollar news organization and served as mayor of New York City, also supports Clinton.
“I’m a New Yorker, and New Yorkers know a con when we see one,” Bloomberg said.
“Trump says he’ll punish manufacturers that move to Mexico or China, but the clothes he sells are made overseas in low-wage factories. He says he wants to put Americans back to work, but he games the US visa system so he can hire temporary foreign workers at low wages. He says he wants to deport 11 million undocumented people, but he seems to have no problem in hiring them. What’d I miss here? He wants you to believe that we can solve our biggest problems by deporting Mexicans and shutting out Muslims. He wants you to believe that erecting trade barriers will bring back good jobs. He’s wrong on both counts.”
Bloomberg’s viewed of Trump and his economic policies are widely shared among top business leaders.
Last week, Sprint chief executive Marcelo Claure also endorsed Clinton for president and promised to hold a fundraiser for the Democratic candidate later this month, according to Fortune.
In an email to colleagues obtained by Fortune, he wrote:
“As the campaign has progressed it has become abundantly clear that we need Hillary to win in November. No matter the issue, from immigration reform to national security, Hillary has the steadiness, experience and temperament to lead our country. Donald Trump is just too risky.”
Hewlett Packard Enterprise Chief Executive Meg Whitman, a Republican, has also endorsed Clinton and contributed to her campaign.
Apple Chief Executive Tom Cook hosted a fundraiser for Clinton in August.
Other tech business leaders are voting with their dollars. Trump has received just $225,000 in donations from the tech sector executives, compared with Clinton’s $6.1 million, according to Crowdpac, which tracks campaign contributions.
Trump is campaigning on his business experience, but in a telling blow, The Wall Street Journal reported that not one chief executive of the nation’s 100 largest companies is supporting his campaign.
Clinton has also won the support of major labor organizations. The AFL-CIO voted in June to endorse Clinton for president.
The organization represents 56 mostly blue-collar national and international unions, including the American Federation of State, County and Municipal Employees, the American Federation of Teachers and the Communications Workers of America.
In all, the union represents 12.5 million working people, according to its Web site.
“We will run a sophisticated, targeted ground campaign,” union president Richard Trumka told CNN. “And with the dire consequences Donald Trump poses for America’s working families, it has to be.”
The International Brotherhood of Electrical Workers also endorsed Clinton in June.
Said union president Lonnie R. Stephenson:
“As a president of the largest union in the electrical industry, I want someone in the White House who will make it easier, not harder, for working families to come together and speak up for themselves. A president who is committed to raising wages, boosting retirement security and making it easier for working parents to raise their families – and has the legislative record to back it up. And I want a president who is committed to appointing justices who will not overturn our hard-fought for rights on the job.
Last month, the International Brotherhood of Teamsters announced its endorsement of Clinton for president. Teamsters General President James P. Hoffa called Clinton the “right candidate for the middle class and working men and women across the country.”
“Donald Trump supports national right-to-work laws that are proven to weaken the middle class and has a long track record of shipping jobs out of the country as a businessman. He is no friend to working Americans,” said Hoffa, whose union represents 1.4 million workers.
The United Auto Workers union endorsed Clinton, citing “her support for UAW members, her lifelong commitment to the job security of American families, and her ability to unify and win in November.”
“Hillary Clinton understands our issues on trade, understands the complexities of multinational economies and supports American workers, their families and communities,” said UAW President Dennis Williams, in a statement making the announcement.
Few, if any presidential candidates, have drawn such support across the spectrum of the nation’s business community, from the shop floor to the executive suite.
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