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Company profile

Cisco Systems, Inc., is engaged in designing and selling a range of technologies across networking, security, collaboration, applications and the cloud. It operates through three geographic segments: Americas; Europe, Middle East, and Africa; and Asia Pacific, Japan, and China. Its product and technologies include infrastructure platforms; applications; security and other products. Infrastructure Platforms consists of its core networking technologies of switching, routing, data center products and wireless that are designed to work together to deliver networking capabilities and transport and store data. Application product category consists primarily of software-related offerings that utilize the core networking and data center platforms to provide their functions. Security product category primarily includes unified threat management products, threat security products and Web security products. Its subsidiary, ThousandEyes, Inc., offers Internet and cloud intelligence platform.

Closing Price
$45.43
Day's Change
0.28 (0.62%)
Bid
--
Ask
--
B/A Size
--
Day's High
45.65
Day's Low
44.88
Volume
(Heavy Day)
Volume:
30,271,669

10-day average volume:
20,538,554
30,271,669

Business leaders call for action on Trump after mob siege at Capitol

6:44 pm ET January 6, 2021 (MarketWatch)
Print

By Levi Sumagaysay

National Association of Manufacturers asks Vice President Pence to 'seriously consider' invoking 25th Amendment, group comprising powerful CEOs calls for U.S. officials 'to facilitate the peaceful transition of power'

Business leaders called for a peaceful transition of power after President Trump's supporters stormed into the Capitol building on Wednesday, with at least one group calling for the invocation of the 25th Amendment to remove the president.

Some blamed President Trump directly for the deadly violence in the nation's capital (https://www.marketwatch.com/story/watch-hundreds-of-trump-supporters-storm-capitol-hill-break-fences-and-fight-with-police-2021-01-06?mod=home-page), which forced members of Congress who were attempting to certify the presidential election results to barricade themselves inside the Capitol. At least one woman was shot in the chaos; she has since died, according to NBC News, which cited law enforcement sources.

"Armed violent protestors who support the baseless claim by outgoing President Trump that he somehow won an election that he overwhelmingly lost have stormed the U.S. Capitol today, attacking police officers and first responders, because Trump refused to accept defeat in a free and fair election," National Association of Manufacturers President and Chief Executive Jay Timmons said in a statement.

Timmons -- who has previously voiced support for President Trump's policies, including (https://www.nam.org/nam-statement-on-president-trumps-immigration-order-1120/)corporate tax cuts (http://documents.nam.org/Nam.org_Web_Archive/www.nam.org/Newsroom/Press-Releases/2017/12/NAM-Statement-on-Senate-Passage-of-the-Tax-Cuts-and-Jobs-Act/index.html) and a trade battle with China (https://www.nam.org/manufacturers-president-trump-has-landed-historic-deal-6496/) -- even suggested that Vice President Pence should consider using Constitutional powers to evict Trump from office.

"Vice President Pence, who was evacuated from the Capitol, should seriously consider working with the Cabinet to invoke the 25th Amendment to preserve democracy," Timmons added.

See also: Why the Dow closed at a record even as a violent mob stormed the Capitol (https://www.marketwatch.com/story/why-stocks-and-financial-markets-shrugged-as-a-violent-mob-stormed-the-capitol-11609972407)

The Business Roundtable, which is currently chaired by Walmart Inc. (WMT) Chief Executive Doug McMillon, said in a statement: "The chaos unfolding in the nation's capital is the result of unlawful efforts to overturn the legitimate results of a democratic election. The country deserves better. Business Roundtable calls on the President and all relevant officials to put an end to the chaos and to facilitate the peaceful transition of power."

Other members of the Business Roundtable board include Apple Inc.'s (AAPL) Tim Cook, General Motors Corp.'s (GM) Mary Barra, JPMorgan Chase & Co.'s (JPM) Jamie Dimon and others. Some members released statements of their own.

"These actions have no place in our society, and they must stop so our system of democracy can work," IBM Corp. (IBM) Chairman and CEO Arvind Krishna tweeted.

Citigroup Inc. (C) CEO Michael Corbat, also a member of the roundtable, said in a statement that he had "faith in our democratic process... and that people will be held accountable for their actions. I pray this situation can be resolved without further bloodshed."

Thomas J. Donohue, CEO of the U.S. Chamber of Commerce, said in a statement that "Congress of the United States must gather again this evening to conclude their Constitutional responsibility to accept the report of the Electoral College."

"Nothing pleases business more than stability," said Larry Gerston, political science professor emeritus at San Jose State University. "These leaders believe that will be achieved when the country moves on, including the peaceful transfer of presidential power."

The mob's actions come as some businesses reel from the effects of the coronavirus pandemic while others have thrived. An example of an industry that has been deeply affected by the pandemic is travel.

"Working American families depend on a productive government to facilitate their livelihoods -- especially in this time of unprecedented crisis and challenge -- and the willful disruption of our democratic transition is an unacceptable act of harm that is felt not just in Washington, but in every corner of the country," the U.S. Travel Association said in a statement.

Trump took to social media with a minute-long video in which he called the election fraudulent and "stolen" and urged the mob to go home, but not before he told them, "We love you. You're very special." Twitter Inc. (TWTR) and Facebook Inc. (FB) later removed the video from their platforms.

Read: Big Tech restricts Trump posts during Capitol chaos, but doesn't ban him (https://www.marketwatch.com/story/facebook-twitter-youtube-restrict-but-dont-ban-trump-posts-amid-capitol-siege-11609973575)

President-elect Joe Biden said in a news conference that the rioting "bordered on sedition" (https://www.marketwatch.com/story/biden-calls-on-trump-to-demand-his-supporters-end-capitol-siege-11609969286) and called for Trump to go on national television "to fulfill his oath and defend the Constitution and demand an end to this siege."

Investors shrugged off the violence, with the Dow Jones Industrial Average closing at a record high (https://www.marketwatch.com/story/why-stocks-and-financial-markets-shrugged-as-a-violent-mob-stormed-the-capitol-11609972407?mod=home-page) Wednesday.

-Levi Sumagaysay; 415-439-6400; AskNewswires@dowjones.com

	

(END) Dow Jones Newswires

January 06, 2021 18:44 ET (23:44 GMT)

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