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NASDAQ Diversity Requirement
Posted on 12/1/20 at 7:46 am
Posted on 12/1/20 at 7:46 am
LINK
It’d be hard for me to get enthusiastic about a corporate career track at this point. With the way the Feds are treating small businesses, I guess the trades would be the last refuge of capitalism.
quote:
Nasdaq filed a proposal Tuesday with the Securities and Exchange Commission asking the regulatory body to adopt new listing rules surrounding the makeup of companies’ board of directors, as well as greater transparency around who fills the seats in the boardroom.
Under the proposal, the majority of companies will be required to have at least two diverse board directors: one woman, and one person who identifies as either an underrepresented minority or LGBTQ. If a company cannot meet these requirements, it will need to explain why.
It’d be hard for me to get enthusiastic about a corporate career track at this point. With the way the Feds are treating small businesses, I guess the trades would be the last refuge of capitalism.
35
Posted on 12/1/20 at 7:48 am to Aubie Spr96
So the NASDAQ is pressuring companies to choose between being listed on the exchange or doing what the company thinks is best for their board of directors 
Stupid direction this country is heading in.
Stupid direction this country is heading in.
Posted on 12/1/20 at 7:49 am to Aubie Spr96
Clown show. I wish companies would start standing up to this BS.
Posted on 12/1/20 at 7:50 am to Aubie Spr96
I guess they’ll just list on the NYSE then
Posted on 12/1/20 at 7:50 am to Aubie Spr96
Why? We want our company to be the best for our shareholders.
Posted on 12/1/20 at 7:50 am to Aubie Spr96
Just have one of the board members identify as a minority.
Problem solved.
Problem solved.
Posted on 12/1/20 at 7:51 am to Oates Mustache
quote:
I wish companies would start standing up to this BS.
Oh, it's about to get much worse for these companies with all the BS like this the incoming administration will try and ram through.
Posted on 12/1/20 at 7:51 am to Aubie Spr96
quote:
If a company cannot meet these requirements, it will need to explain why.
I will invest in the first company that says "Because frick you, that's why" in response
This post was edited on 12/1/20 at 7:52 am
Posted on 12/1/20 at 7:51 am to Aubie Spr96
quote:
Under the proposal, the majority of companies will be required to have at least two diverse board directors: one woman, and one person who identifies as either an underrepresented minority or LGBTQ
I wonder if doing a devil's threesome one time would qualify you for the B in LGBTQ
Posted on 12/1/20 at 7:52 am to Aubie Spr96
Imagine being that token board member. Everyone at the table knows you are placed there not because of your brain, but because of your skin color, sexual preference, or gender.
It may seem virtuous to some, but I would imagine it would wear on that board member knowing they are only there to fulfill a quota.
It may seem virtuous to some, but I would imagine it would wear on that board member knowing they are only there to fulfill a quota.
Posted on 12/1/20 at 7:54 am to Aubie Spr96
And there are still grown supposedly intelligent adults who vote Democrat. What a world
Posted on 12/1/20 at 7:54 am to BurningHeart
quote:
So the NASDAQ is pressuring companies to choose between being listed on the exchange or doing what the company thinks is best for their board of directors
To be fair, they’re not at risk of being delisted for having an all white male board. They just have to disclose it and explain it.
Still a step in the wrong direction.
Posted on 12/1/20 at 7:55 am to Tony The Tiger
quote:
Imagine being that token board member. Everyone at the table knows you are placed there not because of your brain, but because of your skin color, sexual preference, or gender.
It may seem virtuous to some, but I would imagine it would wear on that board member knowing they are only there to fulfill a quota.
All these types of rules do is make the educated minorities a highly valuable (paid) resource, while doing nothing for the uneducated populace.
Posted on 12/1/20 at 7:56 am to East Coast Band
quote:
Why? We want our company to be the best for our shareholders.
Quite a few studies suggest diverse boards lead to better financial and stock performance, but I’m a bit skeptical of the correlation/causation in those studies.
Posted on 12/1/20 at 7:56 am to Aubie Spr96
So, the NASDAQ president said that it was proven that diverse boards have better financial performance. So, I Googled and found this gem: LINK
So..... if corporations are truly in the business to make money AND it is proven that having diverse boards are guaranteed to deliver better financial performance, then WHY is there a need to do anything? These corporations will do this themselves AMIRITE?!??
quote:
Our latest analysis reaffirms the strong business case for both gender diversity and ethnic and cultural diversity in corporate leadership—and shows that this business case continues to strengthen. The most diverse companies are now more likely than ever to outperform less diverse peers on profitability.
So..... if corporations are truly in the business to make money AND it is proven that having diverse boards are guaranteed to deliver better financial performance, then WHY is there a need to do anything? These corporations will do this themselves AMIRITE?!??
Posted on 12/1/20 at 7:56 am to Tony The Tiger
quote:
but I would imagine it would wear on that board member knowing they are only there to fulfill a quota.
I doubt it. Get paid a shite ton of money knowing you can frick off all day and never get removed from the board because of your skin color? Sign me up.
Posted on 12/1/20 at 7:57 am to Aubie Spr96
is BET being held to the same standard?
Posted on 12/1/20 at 7:58 am to Aubie Spr96
So they should ignore requirements for capability and focus only on superficial aspects like gender, skin color or sexual orientation....
Wow
Wow
Posted on 12/1/20 at 7:58 am to Tony The Tiger
quote:
it would wear on that board member.... knowing they are token
They'd likely be too dumb to realize it.
These libs have zero self awareness.
Posted on 12/1/20 at 7:58 am to SlidellCajun
quote:
So they should ignore requirements for capability and focus only on superficial aspects like gender, skin color or sexual orientation....
Wow
Welcome to the brave new world of Equity over Equality.
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