Tag: corporate

Can new California law on board diversity really change corporate culture?

The summer was filled with scorching images of racial injustice, and the fury that injustice breeds. Now comes the fall, and with it a yearning for the cooling breeze of potent reform.

From all quarters is heard the righteous demand for diversity, equity and inclusion. This week, California purported to respond on the corporate front.

Gov. Gavin Newsom recently signed into law a dramatic new statute that requires public corporations headquartered in California to put at least one minority on their board of directors by 2021. By 2022, most public boards are required to have at least one-third minority directors. Under this law, minority means either a member of a historically underrepresented racial group, or a gay, lesbian or transgender person.

In some ways, this is a remarkable advance for proponents of diversity in America’s most powerful institutions. Yet in a deeper sense, it is business as usual. Or worse, it is the co-option of the impulse to racial justice by prevailing systems of power and privilege.

What is diversity for?

Corporate law in the United States requires corporate directors to use their powers to pursue profits for shareholders. Profits may not be sacrificed in the interests of workers, consumers, communities or patriotic conscience.

“Cakes and ales,” as an old case puts it, are permitted, but only such as are necessary to make money for shareholders. This is the rule today, whether the issue is corporate diversity, coronavirus-themed advertising or any policy that purports to be socially responsible. In fact, American corporations routinely lay off thousands of workers, destroy local communities and ignore the national interest when profit so commands.

California’s new corporate minority quota comes fast on the heels of the Golden State adopting a gender quota for corporate boards in 2018. When that reform was passed, many scholars doubted the constitutional viability of the command. The Constitution requires “equal protection” under the law, and jurists usually hold that strict hiring quotas violate this standard. Yet only recently have a few cases begun to percolate that challenge the corporate gender quota. Most firms have complied with the new strictures, eagerly identifying women who will further the faithful pursuit of corporate profits.

Proponents of corporate diversity quotas believe that more women directors will improve corporate sensitivity to the needs of employees’ families and children. They hope minority directors will curb corporate abuses that harm poor and disadvantaged communities. They may be right. But if they are right, this will happen only through informal, unspoken compromises at the margin, in the shadow of the law that says shareholders are first — rather than being dealt with explicitly in the boardroom, in the corporate conscience, and in the most important decisions, where shareholders alone are served.

Without reform of our foundational corporate governance law, California’s diversity statutes represent (brace yourself) capitalism’s commodification of diversity, equity and inclusion, and a capture of gender and racial justice impulses in the service of the shareholding class, rather than genuine reform.

Progressives who want corporations to

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Work to end racial injustice may be ‘greatest mobilization’ of corporate America to better society

  • IBM Executive Chairman Ginni Rometty believes addressing racial injustice could be “the greatest mobilization of the private sector for a benefit of society.” 
  • “The private sector has the ability to create a movement,” she told CNBC on Thursday.
  • “Economic opportunity, it is the great equalizer for all of this,” she added. 

Former IBM CEO Ginni Rometty on corporate responsibility to address racial inequality

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IBM Executive Chairman Ginni Rometty told CNBC on Thursday that corporate America has the potential to create long-lasting societal change by advancing the cause of racial equality.

“The private sector has the ability to create a movement, and actually, I think, this could be the greatest mobilization of the private sector for a benefit of society,” Rometty said on “Squawk on the Street.” 

Rometty, who stepped down as IBM chief executive earlier this year, has been a staunch advocate for companies to rethink hiring practices to include candidates with diverse backgrounds, including people who haven’t obtained four-year college degrees.

Rometty’s comments Thursday come as the United States experiences renewed calls for racial justice following high-profile killings by White police offices of Black Americans in 2020, including George Floyd in Minneapolis in May.

Video: A Plan of Action: Ending Racial Inequity – CNBC @Work Summit with Ford Foundation President (CNBC)

A Plan of Action: Ending Racial Inequity – CNBC @Work Summit with Ford Foundation President

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Activists, customers and even employees have applied pressure and demanded action from companies. With protests at their peak in June, many of the nation’s largest companies responded with pledges to increase diversity in their workforces and commitments to take other steps to close racial disparities in wealth and educational opportunities.

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Companies have continued to announce other efforts, such as J.P. Morgan Chase committing $30 billion over five years to address wealth inequality in the U.S., through a combination of loans, investments and philanthropy. 

Last month, IBM unveiled a new quantum education and research initiative for historically black colleges and universities that includes a $100 million investment. The company’s current CEO, Arvind Krishna, also is co-chair of an effort announced this summer to hire 100,000 New Yorkers who are from low-income minority neighborhoods by 2030. 

Rometty, who was IBM’s first female CEO, on Thursday also touted the work of IBM’s Pathways to Technology initiative, a six-year program for high school students that focuses on the STEM fields — science, technology, engineering and mathematics. Students complete high school requirements while also earing an associate degree and job opportunities through the program, which was founded in 2011.

“With over 300 schools and almost 200,000 kids coming through, this is now going to get extended and we are really going to target at the Black community,” she said. “Economic opportunity, it is the great equalizer for all of this,” she added. 

IBM CEO and executive chair on spinning off IT infrastructure unit

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Indonesia Passes Law to Cut Corporate Tax, Simplify Labor Rules

(Bloomberg) — Indonesia has rushed the approval of a law aimed at creating jobs and attracting investments, a day before 2 million workers were set to protest against it.



a group of people walking down the street: Workers transport carts loaded with boxes at Tanah Abang market in Jakarta, Indonesia, on Tuesday, Aug. 4, 2020. Indonesia is scheduled to announce its second-quarter gross domestic product (GDP) figures on Aug. 5.


© Bloomberg
Workers transport carts loaded with boxes at Tanah Abang market in Jakarta, Indonesia, on Tuesday, Aug. 4, 2020. Indonesia is scheduled to announce its second-quarter gross domestic product (GDP) figures on Aug. 5.

The parliament agreed to pass the omnibus bill on jobs in a plenary meeting on Monday. That’s one day before labor unions were planning to stage a national three-day strike across 300 cities to reject it. The parliament was previously set to hold its plenary meeting on Oct. 8.

The law that seeks to simplify and revise more than 70 existing regulations will overhaul the country’s labor rules, make it easier for companies to secure permits and ease foreign ownership rules. Its passage means the corporate income tax will be gradually lowered to 20%, from 22% currently, while some dividend taxes will be exempted.

Video: Senate fends off government shutdown with temporary funding bill (Fox Business)

Senate fends off government shutdown with temporary funding bill

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The bill’s passage may help President Joko Widodo shore up an economy that’s set to slip into another contraction this quarter as the continued spread of the coronavirus damped household spending and investments. The government has sought to speed up state spending, while warning that growth can’t come from the public sector alone.

The law has been met with opposition from labor unions and politicians who sought to reject the reduction in severance pay and the introduction of indefinite labor contracts. Activists have also spoken out against the bill, which exempts investments judged to be low-risk to go ahead without submitting a report on their expected environmental impact.

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California law mandates diversity in corporate boardrooms

Assemblymember Chris Holden called it a “big step forward for racial equity.”

California’s governor signed a bill into law on Wednesday that requires publicly traded companies headquartered in the state to have at least one board member from an “underrepresented community” by the end of 2021.

The legislation defines “underrepresented” as a person who self-identifies as Black, Hispanic/Latino, Asian, Pacific Islander, Native American (including Native Alaskan or Hawaiian) or an individual who self-identifies as gay, lesbian, bisexual or transgender.

“The new law represents a big step forward for racial equity,” California Assemblymember Chris Holden, who co-authored the AB 979 bill, said in a statement. “While some corporations were already leading the way to combat implicit bias, now, all of California’s corporate boards will better reflect the diversity of our State.”

Holden called the new law a “win-win as ethnically diverse boards have shown to outperform those that lack diversity.”

PHOTO: A diverse group of business people are shown in a large modern meeting room in an undated stock image.

A diverse group of business people are shown in a large modern meeting room in an undated stock image.

A diverse group of business people are shown in a large modern meeting room in an undated stock image.

Assemblymembers Christina Garcia and David Chiu, who co-authored the bill with Holden, echoed Holden’s sentiments after the bill was signed by Gov. Gavin Newsom.

Garcia said that it is “clear we can no longer wait for corporations to figure it out on their own.”

“I’m excited this bill is signed and look forward to California continuing to lead the way in our fight for racial equity in general,” she added in a statement.

Chiu, who is also the chair of the Asian Pacific Islander Legislative Caucus, noted that the new measure “recognizes that including the perspectives of underrepresented groups in leadership roles will result in more innovation, improved productivity, and better economic outcomes.”

The new legislation also requires corporate boards in California to include two directors from underrepresented communities if their board has more than four members and three directors from underrepresented communities if their board has more than nine members by the end of 2022.

The police killing of George Floyd at the end of May sparked a new push for racial equity in the U.S., especially in the private sector. Many companies that publicly pledged support for the Black Lives Matter movement in the wake of the protests that erupted across the nation faced renewed scrutiny over diversity statistics, especially among leadership positions.

White board members made up 83.9% of total board seats on Fortune 500 companies in 2018, according to a report from Deloitte and the Alliance for Board Diversity. Black board members accounted for just 8.6% of those seats, Hispanic/Latino members just 3.8% and Asian/Pacific Islanders just 3.7%.

Separately, earlier this month, more than a dozen companies across the nation signed onto the “Board Challenge,” pledging to add a Black director within the next year.

In June, Reddit co-founder Alexis Ohanian announced he resigned from his company’s board to make

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New California law will require more diversity in corporate boardrooms

A new bill was signed into law on Wednesday in California that will require more diversity within corporate boards of executives.

The law, AB 979, comes as renewed Black Lives Matter protests highlight the socioeconomic gaps and marginalization Black Americans endure as compared to their white counterparts.

The Los Angeles Times reports that Gov. Gavin Newsom (D) signed the bill in an online ceremony, and noted that the law is vital to increasing diversity in company employment.


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About 625 publicly held corporations located in California will be subject to the law, and must include at least one person from a minority or underrepresented background by the end of 2022. 

By the end of 2021, the same publicly traded companies headquartered in California must have one director from an underrepresented background. 

Boards with membership between four to nine members must have at least two people from underrepresented backgrounds, whole executive boards with over nine members must have at least three minority board members. 

More appointments are required over the years the company is still in business.  

“When we talk about racial justice, we talk about empowerment, we talk about power, we need to talk about seats at the table,” Newsom said.

The Times notes that the law is likely to be challenged in court by some groups, particularly in regards to the “quota” the law establishes.

“It’s a quota, and quotas are unconstitutional,” Thomas Fitton, president of Judicial Watch, told reporters. In 2028, Fitton and his organization sued the state after passing a similar law mandating a certain number of women be on executive boards.

Fitton said his organization is reviewing the new law before deciding whether to go to court.

“We are deeply concerned about the new legislation,” he told reporters. “It’s a violation of the equal protection clause of the U.S. Constitution. It undermines the core legal concept of equal protection.”


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Conversely, legal experts say that the new bill isn’t in any legal danger, citing Assembly Bill 979, publicly held corporations headquartered in California are required to have at least one director from an underrepresented community by the close of 2021.

An underrepresented group here is defined as identifying as Black, African American, Hispanic, Latino, Asian, Pacific Islander, Native American, Native Hawaiian or Alaska Native.

Sexual orientation is also taken into account, including self-identifying gay, lesbian, bisexual or transgender individuals.

Current statistics on executive board diversity are bleak; a study from the Harvard Law School Forum of Corporate Governance found that 80.7 percent of board seats of Fortune 500 companies are occupied by white

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California governor signs corporate boardroom diversity law

Gov. Gavin Newsom has signed a law requiring hundreds of California-based corporations to have directors from racial or sexual minorities on their boards

SACRAMENTO, Calif. — Hundreds of California-based corporations must have directors from racial or sexual minorities on their boards under a first-in-the-nation bill signed Wednesday by Gov. Gavin Newsom.

The diversity legislation is similar to a 2018 measure that required boardrooms to have at least one female director by 2019. Like that measure, it could face court challenges from conservative groups who view it as a discriminatory quota.

After Floyd’s death, many corporations issued statements of support for diversity, but many haven’t followed through, said Assemblyman Chris Holden (D-Pasadena), who co-authored the bill.

“The new law represents a big step forward for racial equity,” Holden said. “While some corporations were already leading the way to combat implicit bias, now, all of California’s corporate boards will better reflect the diversity of our state. This is a win-win as ethnically diverse boards have shown to outperform those that lack diversity.”

By the end of 2021, the more than 660 public corporations with California headquarters must have at least one board director from an “underrepresented community,” according to the measure.

Those who qualify would self-identify as Black, Latino, Asian, Pacific Islander, Native American, Native Hawaiian or Alaska Native, or as gay, lesbian, bisexual or transgender.

The measure requires at least two such directors by the end of 2022 on boards with four to nine directors. Three directors are required for boards with nine or more directors. Firms that don’t comply would face fines of $100,00 for first violations and $300,000 for repeated violations.

At an online signing ceremony, Newsom said it was important for minorities to have a voice on the boards of powerful corporations.

“When we talk about racial justice, we talk about empowerment, we talk about power, and we need to talk about seats at the table,” Newsom said.

The legislation was part of a package of racial justice measures signed by Newsom before a midnight deadline. Others bar the use of peremptory challenges to remove potential jurors based on racial, religious or gender identity; allow judges to alter sentences that are believed to involve racial or ethnic discrimination; and set up a state task force to study the idea of reparations to African Americans for slavery.

The text of the corporate diversity bill cited the Latino Corporate Directors Association, which said 233 of 662 publicly traded companies headquartered in California had all-white boards as of this year. Nearly 90% didn’t have any Latino directors, although Latinos make up 39% of the state’s population. Only 16% had an African

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Newsom signs law mandating more diversity in California corporate boardrooms

Many California corporations will have to increase the diversity of their boards of directors under a new law signed Wednesday by Gov. Gavin Newsom to address a shortage of people of color in executive positions.



Gavin Newsom wearing a suit and tie: Gov. Gavin Newsom has acted on a bill requiring more diversity on corporate boards in California. (Rich Pedroncelli / Associated Press)


© (Rich Pedroncelli / Associated Press)
Gov. Gavin Newsom has acted on a bill requiring more diversity on corporate boards in California. (Rich Pedroncelli / Associated Press)

The law requires some 625 publicly held corporations headquartered in California to include at least one person from an underrepresented community by the end of next year, with additional appointments required in future years.

Newsom said during an online signing ceremony that the law is necessary to promote diversity in corporate boardrooms as part of a broader effort to improve racial equity in the U.S.

“When we talk about racial justice, we talk about empowerment, we talk about power, we need to talk about seats at the table,” Newsom said.

The new law is likely to be challenged in court by conservative groups including Judicial Watch, which sued to contest a 2018 law that required a minimum number of women on corporate boards.

“It’s a quota, and quotas are unconstitutional,” said Thomas Fitton, president of Judicial Watch, regarding the law signed by Newsom. Fitton made the same argument in a pending lawsuit about the law requiring women on corporate boards.

Fitton said his organization is reviewing the new law before deciding whether to go to court.

“We are deeply concerned about the new legislation,” Fitton said. “It’s a violation of the equal protection clause of the U.S. Constitution. It undermines the core legal concept of equal protection.”

Other constitutional law experts disagree that the measure is on weak ground, including Erwin Chemerinsky, dean of the UC Berkeley School of Law. He said the laws on the subject are unclear and will have to be decided by the courts.

“I believe that there is a compelling need to enhance diversity on corporate boards,” Chemerinsky said. “The question is whether a court will find these laws to be sufficiently narrowly tailored. Because there are few other alternatives, I think there is a strong argument that such laws are constitutional.”

Under Assembly Bill 979, publicly held corporations headquartered in California are required to have at least one director from an underrepresented community by the close of 2021.

By the end of 2022, corporate boards with four to nine members must have two people from underrepresented communities, and those with more than nine members must have at least three people from those communities.

Directors from an underrepresented community include those who self-identify as Black, African American, Hispanic, Latino, Asian, Pacific Islander, Native American, Native Hawaiian or Alaska Native, or who self-identify as gay, lesbian, bisexual or transgender.

“While some corporations were already leading the way to combat implicit bias, now all of California’s corporate boards will better reflect the diversity of our state,” said Assemblyman Chris Holden (D-Pasadena), one of the authors of the bill, on Wednesday. “This is a win-win,

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What Is Corporate Fascism? Is The Government Of The United States A Fascist Type Of

Political science has a relationship in the research of law. If we do nothing and never let our government know that we’re sensible knowledgeable Individuals, who won’t let our Nation be bought out for Cash, Energy and Greed. The government banned sure weapons in Australia and a gun mafia was not created. The United States has federal, state and native government.

The h is that if gun laws go right here and weapons are collected, the one people who will still have guns are the identical people who kill with them or use them illegally. Other forms of government include plutocracies (rule by wealth), oligarchies (rule by a number of), republics (a representative government, during which representatives are elected by the people), and a democracy (rule by the folks).

A robust public speaker, he and the Nazi celebration finally claimed complete control of the German government in 1933. If the government effectively allows a courtroom to go legal guidelines on the bench, then a person can not pretty know in advance whether his action is authorized.

This represents one other loosening of Germany’s gun laws. This is because, if that’s not done, certain individuals would hold on to energy and compromise the rights and freedom of the citizenry for their grasping parochial and egocentric interests. The government laid out in the Constitution was perfect because it was a republic, a representative government that may stop self-fascinated passions from holding an excessive amount of sway over the government.

And gun laws nonetheless remain in Europe, even after Hitler has been useless for over 60 years. Elsewhere on the earth, like this nice example from Italy, the political events are all across the political spectrum, they disagree greatly on social and political and governmental issues.…

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Duties And Responsibilities Of A Corporate Lawyer

This text appears on the requirements and formalities for a legitimate trust. On the other, when it is recorded as an offence in some international locations, any individual caught in that act must face punishment as offered by the Law of the country. This law additionally tells us that generally st happens” ;). Energy is all the time manifesting – period. Many many individuals would preserve their gun(s) hidden, and would probably contemplate it higher, if mandatory, to use a gun to defend their household and go to jail for it than to let their family be killed.

If your record reveals that you are an otherwise upstanding person of moral character, you may still be admitted to law college. People nonetheless have handguns here. What is the saying Guns do not kill folks -Individuals kill folks? Go to Contact Us” and ask them how to get hold of a duplicate of their pamphlet Abstract of California Gun Laws & Fundamental Security Rules”.

This authority is intended to further the public’s trust, safeguard the final and financial welfare of a state’s residents, protect residents from illegal practices, and guarantee that the benefits of federal law will not be denied to the general inhabitants.

Conversely, if your companion is in law school and isn’t supplying you with what you should feel fulfilled in your relationship, it’s your duty to boost these points along with your companion and, if they cannot be addressed, to move on. This may sound like robust advice; but ultimately, each companions in a relationship should really feel like they are dwelling their lives fully, expressing their character and realizing their potential.

Thanks for studying the article and for posting your opinion about state truancy laws. This country, Federal Republic of Nigeria, was dominated by the colonial masters for therefore many years who were from Britain. Though motion pictures like this are an excellent primer for introducing people to common laws, they fall a bit brief in their means to teach people all they need to know.…

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A Career In Corporate Law

One of the difficulties many people face with ladders is transporting them about from A to B. On account of their should be long, ladders could be tough to transport, and a few people often take dangers in transporting ladders which might be dangerous and illegal. Know-how has and continues to evolve at an exponential price; nonetheless laws governing using such applied sciences in some areas are failing to keep pace. The opposite duties of corporate lawyers embrace guaranteeing viabilities of commercial transactions, advising firms on their legal rights and duties, including the duties and duties of the employers and other officers.

Today the legalist is making the identical error in regard to the brand new delivery, water baptism, the Sabbath, guidelines regarding attire, the sporting of make-up and jewellery, length of hair, foods and drinks, tv, motion pictures, and a host of different things they believe essential for salvation and righteous standing with God.

Usually there may be an amnesty interval, with or without compensation relying on the specifics of the scenario, for people to give up illegalized weapons. As an example, within the Law of Federal Republic of Nigeria, same intercourse marriage is just not permitted but in United States of America, the Law of the country permits such.

Opponents, nonetheless, argue that the covenant isn’t legally binding on Australia; due to this fact there is no need to enshrine marriage equality into law. • In Marquette – it’s illegal for greater than four unrelated persons to occupy the identical dwelling (the Brothel Law).

I find the two laws about guns fairly worrying. Different belongings – together with property held collectively with one other individual, a “life estate” reserved in a deed, and property held in revocable and irrevocable trusts – have been excluded from estate recovery.…

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