Why Big-Bank CEOs Steer Clear of Presidential Politics

WSJ What’s News

The Wall Street Journal

News, Daily News

4.1 • 4.2K Ratings

🗓️ 26 August 2024

⏱️ 12 minutes

🔗️ Recording | iTunes | RSS

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Summary

P.M. Edition for Aug. 26. Wall Street’s biggest leaders tend to avoid wading directly into presidential elections, finding other ways to wield influence in politics. WSJ senior writer Justin Baer explains why. Plus, hundreds of hospitals are pushing a new service: treating patients at home. Hospitals reporter Melanie Evans has more. And, Red Lobster has a new CEO pick as a group of lenders try to turn the bankrupt seafood chain around. Francesca Fontana hosts. Sign up for the WSJ's free What's News newsletter. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	What is dedication? People ask how your children learn how to ride a bike and you didn't.
0:05.0	I just created an environment when they taught themselves and all I had to do is be there.
0:08.5	That's dedication.
0:10.0	Visit fatherhood.gov to hear more brought to you byS. Department of Health and Human Services and the Ad Council.
0:17.0	Why are Big Bank CEOs not getting directly involved in the presidential election.
0:23.0	If you're a CEO and you have these employees and customers all around the country,
0:28.0	being open in your support of one candidate another is a 50-50 proposition, or close to that and so I think they're being particularly careful.
0:37.0	And hospitals are pushing a new service
0:40.0	taking care of their patients at home.
0:42.0	Plus Red Lobster has tapped a new taking care of their patients at home.
0:43.0	Plus, Red Lobster has tapped a new CEO who will face a tall order,
0:47.0	turning the bankrupt seafood chain around.
0:50.0	It's Monday, August 26th.
0:52.0	I'm Francesca Fontana for the Wall Street Journal.
0:55.0	This is the PM edition of What's News, the top headlines and business stories that move the world today.
1:01.0	Let's start off with some corporate news.
1:04.3	Red Lobster is cooking up a comeback with a new CEO,
1:07.6	the former leader of the Asian restaurant brand,
1:10.0	P.F. Chang's.
1:11.4	A group of lenders set to take over Red Lobster have chosen
1:14.1	Damoa, a Damalaycoon to run the bankrupt seafood chain. Red Lobster
1:18.2	filed for Chapter 11 back in May, bringing up around $2 billion in annual sales across 44 states.
	...

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