What happens when big business dollars dry up in Washington? We’re about to find out, as Starbucks CEO Howard Schultz leads 100 CEOs in a pact to refuse to donate to politicians until they stop the partisan gridlock.
According to CNN, Shultz isn’t planning to just stop at businessmen and women, either:
“All it seems people are interested in is re-election,” Schultz told CNNMoney last week. “And that re-election — the lifeblood of it is fundraising.”
While Schultz’s original appeal was to CEOs, he hopes that everyday Americans will join in.
“This is just the beginning of what I think is going to be a groundswell of support to hold back contributions,” he said Tuesday.
So who’s involved so far in the pledge to just say no? Politico reports that Tim Armstrong, the chairman and CEO of AOL; Mickey Drexler, the chairman and CEO of J. Crew Group; Bill Campbell, the chairman of Intuit; Duncan Niederauer, the CEO of NYSE Euronext; and billionaire investor Pete Peterson are all publicly ready to close their wallets and more may be getting ready to do the same.