Illinois House votes to require woman, African American on all corporate boards

Newspressnow ^ | 3/30/19 | Cole Lauterbach

[Libloather]

After a heated debate, calls of racism, and shouting, the Illinois state House of Representatives voted to require all publicly held companies in the state to have at least one woman and one African-American on the company's corporate board.

State Rep. Chris Welch’s bill, which passed Friday, would require any publicly-traded company headquartered in the state to have at least one woman and at least one African-American on its corporate boards starting in 2021.

“No later than the close of the 2020 calendar year, a publicly held domestic or foreign corporation whose principal executive offices, according to the corporation's SEC 10-K form, are located in Illinois shall have a minimum of one female director and one African American director on its board of directors,” according to the text of the bill. It would allow boards to expand to meet the requirements.

[mewzilla]

How wonderful it would feel to know the only reason you’re on the board is because you’re a woman and/or black.

For the right price, pretty dang spiffy!

Note to corporate boards: Call me! 😄

[ealgeone]

Excellent point.

[grania]

What made America great was people with the most potential rising to the top and achieving great things. We’ve seen what happens with Affirmative Action. Quotas lower outcomes.

[okie 54]

What a novel idea I am sure it will work as good as affirmative action did

[blackdog]

Uhmmm....let’s see that withstand a legal test? Ludicrous. Patronizing and insulting to boot.

[KevinB]

Delaware incorporation costs $200 bucks.

It applies to domestic and foreign corporations. A Delaware corporation would be a foreign corporation and would be subject to this ridiculous rule if it has its principal office in Illinois.

[Uncle Miltie]

Asian trannies next week, folks!

[jeffc]

The very definition of Fascism: you own the company, but the government runs it for you...

[EQAndyBuzz]

Texas here we come!

[EQAndyBuzz]

“Jimmy is working the Catskills.

Funny bastid.”

Timmy plays basketball for Duke. Part of their diversity program.

[Lurker]

Boeing is gonna love this. So will Caterpillar.

L

[mylife]

:)

[Aevery_Freeman]

Wouldn’t that be a token token fee?

[Mark17]

Well, aren’t they discriminating against the rest of the victims? I mean, why are they not demanding there be at least one lesbian, one gay, one transgender, one bi-sexual, one gender-queer, one illegal alien, etc., etc.?

That is probably next.

[Teacher317]

Illinois clearly wants to decrease the number of entities with HQ in their state. This law will not attract one single extra HQ, but will cause some to look elsewhere. It will do nothing but cost IL jobs. This is AOC-Amazon redux.

[LouAvul]

Illinois. Becoming more irrelevant by the hour.

But the real tragedy is that the people who live there flee to civilized states, not realizing they were the problem in the first place.

[DoodleDawg]

Won’t survive the legal challenge.

[Old Yeller]

Boeing already put Caroline Kennedy on their board a couple of years ago. Kinda shows you what kind of discernment they have.

[freedumb2003]

So since they can expand boards to fit, they can just label the new seats “token.”

For the companies that stay.

[a fool in paradise]

Al Sharpton can’t sit on the board of EVERY company. Just give him a check and he’ll go away.