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Goldman Sachs to Refuse IPOs If All Directors Are White, Straight Men
Posted on 1/24/20 at 1:32 pm
Posted on 1/24/20 at 1:32 pm
quote:
The era of the white, all-male board is coming to an end.
Goldman Sachs Group Inc. Chief Executive Officer David Solomon issued the latest ultimatum Thursday from Davos. Wall Street's biggest underwriter of initial public offerings in the U.S. will no longer take a company public in the U.S. and Europe if it lacks a director who is either female or diverse. Asia is not yet included in the firm’s new policy.
The mandate is the latest in a series of signals that non-diverse boards and management are unacceptable. BlackRock Inc. and State Street Global Advisors are voting against directors at companies without a female director. Public companies with all-male boards based in California now face a $100,000 fine under a new state law.
“It’s what big investors are looking for these days,” said Fred Foulkes, a management professor at the Boston University Questrom School of Business. “If the board has all white males, that’s a big negative.”
bloomberg
Posted on 1/24/20 at 1:33 pm to L.A.
When image matters more than money, especially in high finance, you know that capitalism has been taken over by the priests instead of being run for the merchants.
Posted on 1/24/20 at 1:33 pm to L.A.
quote:they love to bend over and take it from China
Asia is not yet included in the firm’s new policy.
Posted on 1/24/20 at 1:33 pm to L.A.
One lucky token minority female is about to make bank.
Posted on 1/24/20 at 1:34 pm to L.A.
Goldman Sachs - been nice knowing you.
Posted on 1/24/20 at 1:34 pm to L.A.
They'll also shite-can your deal if you support the second amendment
Posted on 1/24/20 at 1:34 pm to L.A.
quote:
Asia is not yet included in the firm’s new policy.
Because they dont financially own these people yet.
Posted on 1/24/20 at 1:34 pm to L.A.
quote:
Asia is not yet included in the firm’s new policy.
And that tells you all you need to know about how much GS values "diversity" in truth.
Posted on 1/24/20 at 1:35 pm to L.A.
Congrats progs. You win. You finally did it. Best person for the job is over.
Posted on 1/24/20 at 1:35 pm to Buckeye Jeaux
Those board members will probably just split up the 100k
Posted on 1/24/20 at 1:35 pm to L.A.
quote:
The mandate is the latest in a series of signals that non-diverse boards and management are unacceptable.
How do they know if the board is diverse or not? Just because they are all white doesn't mean they all think alike. Sounds like they are the racist bastards to me.
Posted on 1/24/20 at 1:35 pm to Dead End
quote:
Sounds like discrimination.
On the basis of sex
Posted on 1/24/20 at 1:35 pm to L.A.
quote:
Public companies with all-male boards based in California now face a $100,000 fine under a new state law.
Because, you know, frick being able to choose who we want to run our company. That's way too much like freedom.
Posted on 1/24/20 at 1:36 pm to L.A.
Can the board be all of anything else?
Posted on 1/24/20 at 1:36 pm to L.A.
Is that why the stock market us taking a shite today?
Posted on 1/24/20 at 1:37 pm to L.A.
Can’t you just claim one of the board members is gay? Are they going to follow him home and watch him suck a dick?
Posted on 1/24/20 at 1:37 pm to Aristo
quote:
Just because they are all white doesn't mean they all think alike.
JC
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