Employees of General Electric Co. (GE) are giving 63 percent of their contributions to Republicans this year compared to 66 percent to Dems in '08
Four years ago, employees of New York-based Goldman gave three-fourths of their campaign donations to Democratic candidates and committees, including presidential nominee Barack Obama. This time, they’re showering 70 percent of their contributions on Republicans.
“A switch in party preference of this magnitude is virtually unheard of among major companies with an established presence in Washington,” said Rogan Kersh, provost at Wake Forest University in Winston-Salem, North Carolina.
Dallas-based AT&T; Inc. (T) employees, who divided their contributions evenly between the parties in 2008, are now giving almost two-thirds of them to Republicans. Chairman Randall Stephenson gave $30,800 to the Republican National Committee in February
Employees of just four of the top 25 companies, Time Warner Inc. (TWX), Pfizer Inc. (PFE), Comcast Corp. (CMCSA), and Microsoft Corp. (MSFT), continued to give a majority of their donations to Democrats
Six of the 13 corporations whose employees reversed their political giving are financial institutions, including four of the top five. They are: Goldman, Bank of America Corp., Morgan Stanley (MS) and JPMorgan Chase & Co. (JPM) The other two are Citigroup Inc. (C) and UBS AG. (UBSN)
Much of their money went to Romney’s presidential campaign and the joint fundraising committee set up with the Republican National Committee. Of the 10 companies whose employees gave the most money to Romney Victory, nine were Wall Street firms, according to a computer-assisted analysis by Bloomberg of Federal Election Commission data.
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