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Why Trump may be in trouble with corporate business leaders

According to a recent survey, 84% of CEOs dislike how President Trump has handled the COVID-19 pandemic, leading to 77% of the same CEOs voting for presidential hopeful Joe Biden. Yahoo Finance’s Brian Sozzi breaks down the details.

Video Transcript

MYLES UDLAND: Tomorrow, Election Day. Everybody knows that. Talked about it ad nauseam. We'll keep doing that over the next couple of days.

Brian Sozzi, some folks who don't want to talk about the election, it seems, are American CEOs. You talk to a lot of them. We talk to a lot of them on and off the record, and it seems like no matter what setting you have these folks in, they will not say Donald Trump's name.

BRIAN SOZZI: Well, Myles, on the record, they're definitely not saying the word "Trump." And if I were to get them on the record, it is "the president." They don't even want to use his name. And off the record, they're just as cautious.

And you talk to a lot of them, and they appreciate the lower corporate tax rates. That has allowed them to go out there and start buying back their stock into year-end. It has also helped them do some M&A deals, depending on what company and the sector. It has also left them with a large-- good, sizable cash positions.

But look, I point to a recent poll from Yale. They say they-- 84% of them polled by Yale, they do not approve of how the president has handled the coronavirus. And as a result, that same poll suggests 77% of them will vote for Joe Biden. So they appreciate the lower taxes. They just don't like how he's running the country.

MYLES UDLAND: So if Biden wins, do you think they'll say his name, or no?

BRIAN SOZZI: I do. I do. That is a very good question. I do think they will utter the word "Biden," but they will continue to just stay away from Trump. They don't like the fact then you'll have to talk more about politics. They are petrified of having their name mentioned in a tweet and seeing protests for their brand. They just don't want to deal with it anymore.