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Goodyear Tire Stock Rolls Over After Trump Calls For Boycott

Goodyear Tire & Rubber Co (NASDAQ: GT) found itself in the middle of a political firestorm for no other reason than it is 2020.What Happened: An unnamed Goodyear employee posted a picture from a company presentation on what is considered “acceptable” and “unacceptable” workplace attire. The photo has since gone viral given its political nature. * Acceptable clothing includes those that support Black Lives Matter (BLM), and Lesbian, Gay, Bisexual, Transgender Pride (LGBT). * The unacceptable category includes Blue Lives Matter, All Lives Matter, MAGA Attire, Political Affiliated Slogans or Material.The un-named employee spoke to a local Kansas TV station and said:> “”If someone wants to wear a BLM shirt in here, then cool. I’m not going to get offended about it. But at the same time, if someone’s not going to be able to wear something that is politically based, even in the farthest stretch of the imagination, that’s discriminatory. If we’re talking about equality, then it needs to be equality. If not, it’s discrimination.”Trump Responds: U.S. President Donald Trump took to Twitter Wednesday morning and called on supporters to boycott the tire company, but as part of a broader strategy to “play the same game” that the “Radical Left Democrats do.”> Don’t buy GOODYEAR TIRES – They announced a BAN ON MAGA HATS. Get better tires for far less! (This is what the Radical Left Democrats do. Two can play the same game, and we have to start playing it now!).> > — Donald J. Trump (@realDonaldTrump) August 19, 2020Trump could be referencing a call from the political left to boycott Goya Foods after the CEO of the largest Hispanic-owned food company said the U.S. is “truly blessed” to have Trump as president.Goodyear Clarifies Stance: Goodyear said in a statement it’s “committed to fostering an inclusive and respectful workplace where all of our associates can do their best in a spirit of teamwork.””As part of this commitment, we do allow our associates to express their support on racial injustice and other equity issues but ask that they refrain from workplace expressions, verbal or otherwise, in support of political campaigning for any candidate or political party as well as other similar forms of advocacy that fall outside the scope of equity issues,” the statement reads.> Yesterday, Goodyear became the focus of a conversation that created some misconceptions about our policies and our company. Goodyear has always wholeheartedly supported both equality and law enforcement and will continue to do so. pic.twitter.com/oO6jUg2rTR> > — Goodyear (@goodyear) August 19, 2020Goodyear’s stock was down more than 3% at time of publication.See more from Benzinga * The Early Reaction To Target’s Blowout Q2, 195% Online Sales Growth * DoorDash Wins NBA Partnership Deal, Pledges Support For Black-Owned Restaurants * Head-Scratcher: Making Sense Of Why Oracle Would Be Interested In TikTok(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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