Major companies pull sponsorship of GOP convention

Several major companies revealed this week they will be dropping their sponsorship of next month’s Republican National Convention in Cleveland, where Donald Trump is expected to be officially nominated as the party’s presidential candidate.

Wells Fargo, UPS, Motorola, JPMorgan Chase, Ford and Walgreens all told Bloomberg they won’t sponsor this year’s convention, despite helping to fund the last GOP summit in 2012.
None of the companies commented on whether their decision to pull out was because of the GOP’s divisive presumptive nominee.

Trump routinely lashes out at Ford in his stump speech, blasting the company for moving a factory from the U.S. to Mexico. The car company said it would not support either party’s convention.

A source told Bloomberg that Wells Fargo still plans on sponsoring the Democratic convention in Philadelphia, speculating that the move is due to the bank's large market-share in the East Coast city, but not in Cleveland.

JPMorgan, Walgreens, UPS and Motorola will not sponsor either party’s convention.

A source familiar with the convention's fundraising told The Hill on Thursday that the companies had never planned on sponsoring the convention, and that the Bloomberg report was based on information from a year ago.