January 14, 2010 - 11:46am
Corporations often take a beating from the news media, but on Jan. 14 CNN found a reason to praise the actions of several U.S. companies.
“Corporate America contributing millions of dollars to the relief effort in Haiti as well as providing some badly needed goods and services,” Heidi Collins said teasing Stephanie Elam’s report.
Elam replied, “It’s encouraging to see people reacting so quickly and it’s a long and growing list of U.S. companies pledging donations to the relief effort. And these are just some of them, but let’s go ahead and start with the companies that have all pledged at least $1 million.”
That list included: Bank of America, UPS, Abbott Laboratories, Lowe’s and Coca-Cola. Elam explained that several other companies including Wal-Mart, the Yankees, and Western Union were giving between $250,000 and $600,000 each.
“A number of companies are matching employee donations,” Elam added. “In addition to the $1 million it’s giving, Bank of America will also match all employee donations to the relief effort and it has not – has not put a limit on the total amount of relief money it will donate.”
CNN’s parent company Time Warner, Kellogg’s and Western Union also have matching programs. American Airlines is giving away bonus miles to people who donate.
“Corporate giving is great but private sector donations really do play a huge role in these type of recovery efforts,” Elam said. “The American people actually gave $2 billion after the tsunami in 2004, and over $6 billion after Hurricane’s Katrina and Rita.”
A Jan. 13 Associated Press article also detailed the corporate relief efforts of many companies following the earthquake that may have killed thousands and has left countless missing.