Mark Cuban issued a warning this morning about President Donald Trump's "travel ban."
The ban, which was signed into effect via executive order last Friday (Jan. 27), indefinitely bars Syrian refugees from entering the United States and suspends all refugee admissions for 120 days.
Cuban, the billionaire creator of the show "Shark Tank," told MSNBC this morning that he's concerned the travel ban has already "changed the calculus of hiring and investing."
He then went on to caution the viewing public about how the executive action was "bad for business across the board"...
Mark Cuban: Trump's Travel Ban Cause Undue Corporate Suffering
You see, Cuban did not previously have to consider whether a job candidate had a green card or dual citizenship in another country, he lamented this morning.
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"Now I have to say to myself, OK, what is the ethnicity of this person? What about their parents? What about their relatives?" he said.
Cuban believes these new special considerations for companies in all sectors will incite undue stress, causing them to suffer both financially and in terms of morale.
The Dallas Mavericks owner's sentiment echoes that of his corporate peers, particularly in Silicon Valley.
Since the enactment of President Trump's travel ban, a slew of big-name CEOs and executives have come out to openly criticize his ruling. That includes the top exec from one household-name company that threatened just today to take Trump right to court...
Apple Inc. (Nasdaq: AAPL) CEO Tim Cook told The Wall Street Journal this morning that he intends to legally challenge the travel ban, though he did not specify how and when he'll go about doing so.
Cook added that he has contact with "very, very senior people in the White House" with whom he has been speaking about having the order overturned.
Both Amazon.com Inc. (Nasdaq: AMZN) and Expedia are likewise filing lawsuits against the ban, reported CNN Money yesterday.
Lawsuits related to Trump's travel ban continue to pile up, though an exact count has not yet been tallied. Thus far into his presidency, however, the real estate mogul has accrued roughly 50 lawsuits against him in total.
Uncle Sam is about to implement another controversial plan - one that likewise threatens the retirement of millions of Americans...
The U.S. government will soon exploit an obscure loophole buried in Title 29 of the U.S. Labor Code to do it. If you have a 401(k), IRA, or any type of retirement account, this could cause you to miss out on $68,870 or more. Learn more...