Sam Adams Pulls Out of Boston St. Pat’s Parade

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March 14 (Bloomberg) –- “Out on the Street” Founder Todd Sears discusses Sam Adams dropping its sponsorship of Boston’s St. Patrick’s Day parade. He speaks with Trish Regan and Matt Miller on Bloomberg Television’s “Street Smart.” (Source: Bloomberg)

Company, sam adams pulling out.

Walk us through what their concern is, and why they're doing this.

I think it is further evidence of the economic consequence of discrimination.

Let's make it clear first that there is a privately-run st.

Patrick's day parade in boston.

They will not allow gay people to march.

And be gay.

They have added that you can march in the parade as long as you are not clearly identified as gay.

No rainbow flags, etc.

A new don't ask, don't tell.

You can be in the parade if you don't say you are gay.

Which defeats the point.

When you think about other groups that are marching and pushing their costs.

-- cause.

If you can't define yourself as being from -- apparently gay people still can't openly marched in the new york saint paddy's day parade.

Do i risk people in general have a problem with gay people?

What is fascinating, you can march in the irish dublin parade, openly gay.

There are gay pride floats in the st.

Paddy's parade in ireland.

So irish-americans have a problem with gay people?

You have a company now that jim cook runs, very identified with boston.

They have sponsored this for 10 years.

Now they say, enough.

Is this an example of the power of business?

In business really begin to effect social change?

Absolutely.

Look in the context of what has happened in the last five years.

The amicas brief, 300 corporations signed on for the defense of marriage act cap -- to end.

Corporations have driven social change in a lot of areas.

Nondiscrimination.

91% of the fortune 500 protect lgbt employees, but in 29 states you can still legally be fired for being gay.

37 states, you can legally be fired for being transgender.

This is not the first episode.

This will continue.

You can understand maybe insurance companies don't want to have liability to more people in the case of gay partners, for example.

I'm not saying you can defend it, but you can see the business reason.

I can't see any reason why a group of old irish-americans would want to block for some reason, single out and block gay people from participating in a parade.

It's a parade!

Gaytss love a parade, that's where you're going, matt.

There is a religious component as well.

Saint patrick.

She was a real saint?

I know this.

I am irish catholic.

It is similar to what we talked about in arizona.

Some people use discrimination based on a religious objection, which is the same thing people did around racial discrimination, interracial marriage.

Back in ireland, ireland is a pretty catholic place, and they include lgbt people.

So i'm not sure what the heritage is they are trying to protect.

Thank you.

Sam adams pulls out, i wonder who is sponsoring?

Other sponsors have started distancing themselves.

Weston distanced themselves.

At the website, they don't have the sponsors listed right now, they are updating it.

Thank you very much.

Next on "street smart," we will

This text has been automatically generated. It may not be 100% accurate.

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