General Motors, Lockheed Martin and now Nordstrom have all been subject to criticism—and for better or worse, their share value fell for a time.
We’ve watched several companies over the last few months learn this lesson the hard way. When the new immigration restrictions were announced, Uber learned its lesson through a series of missteps and communication lags, whereas main competitor Lyft donated $100 million to the ACLU and became a media darling.
There is bad publicity in not taking action fast enough. In Uber’s case, it led to a loss of customers and its CEO’s leave from the president’s advisory council. Uber made efforts to tell the public and its customers that it would support employees who were potentially subject to the travel ban, but it was too late.