CNBC is reporting that the members of the President's Strategic and Policy Forum-a group that included representatives from GM, Walmart, Pepsi, Boeing, and a number of top financial firms-have chose to dissolve their group in the wake of Donald Trump's remarks defending the white supremacist rally/riot in Charlottesville, Virginia, last weekend.
After the conference call, Trump announced on Twitter that he was shutting down the manufacturing council and the Schwarzman-led Strategic and Policy Forum to avoid "putting pressure on the businesspeople".
"Is there anything here that's happened that was totally unexpected?"
Who's next? That's the big debate, said Davia Temin, head of the New York-based crisis-management firm Temin & Co.
"It shouldn't be surprising that it's come to something like this".
Other top business leaders also spoke out in response to the violence in Charlottesville.
Frazier, who grew up in a poor neighborhood in Philadelphia, resigned from the manufacturing advisory council days after one person was killed and others wounded in violent clashes between white supremacists and protesters.
The president Tweeted Wednesday he's disbanding both groups.
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Net income attributable to the company's shareholders almost doubled to $2.17 billion, or 83 cents per share. Revenue in the entertainment business rose by 30 per cent to 4 billion yuan.
The industry's silence comes as Trump is finalising an executive order on drug prices that would relax industry regulation and contains measures that, some say, would protect existing drug prices or even increase them.
Senate Majority Leader Mitch McConnell, Ohio Governor John Kasich, Senator Lindsey Graham, former US presidents George H.W. Bush and George W. Bush and others took aim at the remarks by Trump that worsened deep divisions within a Republican Party that controls both chambers of Congress and the White House. The call never took place, superseded by Trump's dissolution of the group.
Publicly criticizing the president and resigning from his councils is a significant step for big-name corporate leaders.
Kevin Madden, a Republican strategist who was a senior adviser to Mitt Romney in the 2012 presidential campaign, said all is not lost for Trump and his relations with corporate America.
On Tuesday, McMillon stated that he felt President Trump "missed a critical opportunity" to unite the country following Charlottesville. But he added: "You also had people that were very fine people, on both sides". Trump hoped the two would help advise him on jobs and the economy.
In an interview posted online Wednesday by The American Prospect, a liberal magazine, Bannon dismissed white nationalists, calling them "losers", "a fringe element" and "a collection of clowns". A handful of CEOs have stepped down from two White House business groups, which have met only sporadically, over political controversies.
Now, as Congress has struggled to pass legislation during the Trump era, the chaos surrounding the White House has served to further undermine Republicans' image in the eyes of a risk-averse business community, according to strategists and experts.
Hayes and Trump have worked together in the recent past.
In addition to announcing the dissolution of the business councils via tweet, he congratulated Sen. Most of the CEOs had already chose to leave the group, but on the call they came to a collective decision to dissolve and started drafting a public statement.
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