Economist: CEO's On Trump's Disbanded Advisory Panels Don't Get Paid To Be Political

PHILADELPHIA (CBS) - Earlier this week, President Trump disbanded two economic advisory panels after a growing number of the corporate CEO's who sat on them decided to leave over remarks that Trump made, in regards to the white supremacy event that took place in Charlottesville, Virginia. Camden, New Jersey based Campbell's Soup President, Denise Morrison, was one of them.

Economist Chris Butler tells Chris Stigall on Talk Radio 1210 that he thinks most of these CEO's are people who are willing to acquiesce to the sentiment of the day. When in the end, they answer to their investors and their board. 

"Some of it was this desire to not have to deal with protesters and bad publicity, yes, that's obviously a part of it. But the other part of it I think is that they're not really willing, that group as a whole, CEO's of large corporations, are not willing to engage in any kind of character stand. Which is funny, because they don't get paid, really, to give their comments or political views. That's not part of their description."

Butler says as an economist and portfolio manager, it seems like corporate America is drifting from their mission: to serve the shareholders. And, as it seems like everyone is looking at how products are consumed and purchased and even how corporate decisions are made as to not offend, Butler says economically down the road, it's not necessarily destructive, but not helpful either in terms of sparking economic growth. 

"What that really does though, is it narrows their consumer base  and it opens up opportunities for those people that are apolitical, that will not make a political stand."