Posted on 08/30/2016 10:35:37 AM PDT by reaganaut1
Would corporations operate better if their board members were chosen so as to ensure that women and major racial/ethnic groups were all appropriately represented? Many social activists believe so and their thinking has penetrated into the federal regulatory agency that oversees our stock exchanges – the Securities and Exchange Commission (SEC).
Back in 2009, the SEC instituted a requirement that publicly traded companies disclose plans they might have regarding the diversity of their boards of directors. That is to say, the racial, ethnic and gender characteristics of board members – as if those attributes were the essential, defining attributes of a person.
But now SEC Chairman Mary Jo White has concluded that the earlier rule was too soft, leading only o vague disclosures about board diversity. As we learn in this Wall Street Journal editorial, she wants a new rule mandating that firms “include in their proxy statements more meaningful board diversity disclosures on their members and nominees.”
Chairman White’s idea dovetails with the thinking of Canadian law professor Aaron Dhir, who has been crusading for rules to compel companies to consider “the socio-demographic composition of their boards” and of Representative Carolyn Mahoney of New York, who wants the SEC to force companies to identify each member of their boards according to gender, race, and ethnicity.
(Excerpt) Read more at forbes.com ...
I thought this was about the Southeastern Conference.
Jesse and Al need more outside income
That’d be the U.F. Swamp.
Where in the Constitution does the government have this power? Would someone please go to court to stop this tyranny.
Justice Roberts gave up enforcing the Constitution when he caved in on the Obamacare case.
I guess it's only a matter of time.
I’d love to read a proxy disclosure which said in effect, “we pick the best athlete for the job, regardless of race, gender, or sexual proclivity.”
The “DIVERSITY POLICE” are at it again.
Different kind of brownshirts, but brownshirts nonetheless.
This is SOCIOECONOMIC FASCISM and no such powers were granted by the Constitution.
“Back in 2009, the SEC instituted a requirement that publicly traded companies disclose plans they might have regarding the diversity of their boards of directors.”
It serves these companies right (although I am not for this government intrusion). These companies have long been demanding diversity numbers from their “vendors” (such as law and accounting firms) and making decisions about who they give their work to based in part on the diversity of the vendor. Turnabout is fair play, although what power does the SEC have to penalize a company whose board or top executive level is not diverse enough?
Yes.
Precedent, not manifest original intent, now rule us.
Once a traitor like Roberts sets a precedent, the rule of law is permanently that much more weakened.
”… federal regulatory agency ..."
FR: Never Accept the Premise of Your Opponent’s Argument
Wake up patriots!
From related threads …
How long will it take for patriots to get a grip on the constitutional reality that the only "federal regulatory agency” permitted by the Constitution is Congress? This is evidenced by the fact that the Founding States made the first numbered clauses in the Constitution, Sections 1-3 of Article I, evidently a good place to hide these clauses from Congress (sarc), to clarify that ALL federal legislative / regulatory powers are vested in the elected members of Congress, not in the executive or judicial branches, or in faceless, non-elected bureaucrats like those running the EPA, IRS, FAA, EEOC and SEC as examples.
In other words, Congress has a constitutional “monopoly” on federal legislative powers whether it wants it or not. But by unconstitutionally delegating legislative powers to non-elected bureaucrats, Congress is wrongly protecting such powers from the wrath of the voters in blatant defiance of Sections 1-3 mentioned above.
Patriots don’t seem to understand that corrupt lawmakers are letting non-elected federal bureaucrats get away with stealing legislative powers, including 10th Amendment-protected state powers which the feds have stolen from the states, probably so that these bureaucrats can do Congress’s unpopular, unconstitutional legislative work for it.
By allowing faceless bureaucrats to steal state and federal legislative powers, crook lawmakers are able to keep their voting records clean, likely so that they can fool low-information patriots, patriots who don’t understand the Constituton’s delegation of legislative powers specifically to elected members of Congress, into reelecting them.
Remember in November !
Patriots need to support Trump / Pence by also electing a new, state sovereignty-respecting Congress that will work within its constitutional Article I, Section 8-limited powers to not only support Trump’s vision for making America great again for everybody, but will also stop non-elected bureaucrats from stealing and exercising state and federal legislative powers.
Note that such a Congress will also probably be willing to fire state sovereignty-igoring activist justices.
Just as a previous Justice Roberts turned his back on the Constitution to give FDR what he wanted.
President Trump will fix it!
Don’t worry. My dentist told me that dental schools have racial quotas as well.
What we need is boards that are truly independent, and not give the CEO $240 million to leave the company when he does a horrible job.
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