People & Money

In Joint Letter, 164 New York Businessmen Urge Trump to Cede Power to Biden

The joint letter signed by America’s business bigwigs, most of whom are known to be staunch conservatives, further shows Trump is losing support in his cause to subvert the elections, even among Republicans. Signatories to the letter include prominent G.O.P. donors Henry R. Kravis, who is the co-chief executive of private equity giant KKR and Jeff T. Blau, CEO of one of New York City’s largest private developers, the Related Companies

Donald Trump’s refusal to accept the election results more than two weeks after the vote was called in favour of Joe Biden is hurting the country, top American business executives have warned, calling on the President to immediately acknowledge the victory of the Democratic candidate and begin a transfer of power.

The call came in a joint letter signed by 164 New York-based chief executive officers of major United States companies across finance, consulting, education, real estate, and media sectors. It comes amid Trump’s bizzare refusal to recognise Biden as the winner of the November 3 elections by undermining the electoral process with unproven allegations of voter fraud and pressuring state Republicans to try to block certification of the results.

The head of the General Services Administration under Trump, Emily W. Murphy had also resisted calls to affirm that Biden and Vice President-elect Kamala Harris won and to begin the normal transition planning. She was reportedly blocking access to resources necessary for the incoming administration to take over but on Monday acknowledged that Biden was the “apparent winner” of the election, giving the Democrat and his team access to current agency officials, briefing books, and other resources, including some $6 million in funding.

“Every day that an orderly presidential transition process is delayed, our democracy grows weaker in the eyes of our own citizens, and the nation’s stature on the global stage is diminished,” the executives wrote in the letter seen by The New York Times. “Withholding resources and vital information from an incoming administration puts the public and economic health and security of America at risk.”

Also Read: “Expect Generational Curses on Biden” – Nigerian Trumpists Back Voter Fraud Claims in Unique Fashion

The joint letter signed by America’s business bigwigs, most of whom are known to be staunch conservatives, further shows Trump is losing support in his cause to subvert the elections, even among Republicans. Signatories to the letter include prominent G.O.P. donors Henry R. Kravis, who is the co-chief executive of private equity giant KKR and Jeff T. Blau, CEO of one of New York City’s largest private developers, the Related Companies.

The chief executives of Goldman Sachs, BlackRock, Blackstone, Neuberger Berman, Mastercard, Visa, MetLife, Accenture, the Carlyle Group, Condé Nast, McGraw-Hill, WeWork, and American International Group, also signed on to the letter.

This signals an end to Trump’s relationship with New York, at least as U.S. leader. He has been a resident in America’s most popular city even as president until 2019 when he changed his primary residence to Florida while his Manhattan-based luxury hotel, Trump International Hotel is still situated in the city.

Though he did not join the formal call for a speedy transition, CEO of private equity behemoth Blackstone, Stephen A. Schwarzman, who is one of Trump’s loyalists, had said in a statement that he “supported President Trump and the strong economic path he built.” But like many in the business community, “I am now ready to help President-elect Biden and his team as they confront the significant challenges of rebuilding our post-Covid economy.”

Also Read: “Political Equivalent of Street Rioter” – Republicans Turn on Trump

Some of the business executives are also considering withholding campaign donations from the two Republican Senate candidates in the crucial January runoff elections in Georgia unless G.O.P. leaders agree to push for a presidential transition. 

Like the corporate leaders, several other Americans are increasingly worried that the stalled transition planning will worsen the Covid-19 pandemic and slow plans to roll out vaccines. Prominent Republican national security experts and those who served in Republican administrations have also urged G.O.P. lawmakers in Congress to demand that Trump concede and allow the transition to begin.

“Without the rule of law and an orderly transfer of power, everything from commerce to health care delivery to national security is in peril, and our business leaders can see that as clearly as the rest of us,” said New York attorney general Letitia James, who had called on the executives in her jurisdiction to push the delayed transition into motion.

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