Wednesday, July 14, 2010

"Buycotts" Work

Interesting and encouraging observation from John Mackey of Whole Foods, speaking on a healthcare panel:
He said that he never realized how many people would respond negatively and positively to the piece he wrote but that he wrote the piece criticizing the reform because it was important to get the message out. The backlash of his outspokenness manifested into protests, threats of boycotts and promises of buycotts (purchasing in support of his message). The result, he says, was that because he spoke up buycotts ensued and sales for his company went way up. That says something about public sentiment about Obamacare.
I hope other business people learn from this and John Allison's stance on eminent domain: speaking out can actually help your company's short term bottom line, while simultaneously ensuring the firm's long term viability and existence.

3 Comments:

Blogger Doug Reich said...

That's great news - hadn't heard this. If we could get even 5% of the major corporations in this country to stand on principle like this, it would transform the world.

7:23 PM  
Blogger Amit Ghate said...

Agreed!

7:27 PM  
Blogger Roberto Brian Sarrionandia said...

Without trying to be pedantic, it could also mean that rich people dislike Obamacare, and so divert their larger disposable incomes towards buycotts. :P

Still great news though

3:07 PM  

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