Posted on 01/24/2020 6:34:42 PM PST by karpov
Goldman Sachs CEO David Solomon demonstrated his social enlightenment in Davos this week by announcing that the white-shoe investment bank would no longer help companies with exclusively white, male boards go public—as long as its boycott doesn’t hurt business too much.
“Starting on July 1 in the U.S. and Europe, we’re not going to take a company public unless there’s at least one diverse board candidate, with a focus on women,” Mr. Solomon said on CNBC Thursday. “We might miss some business, but in the long run, this I think is the best advice for companies that want to drive premium returns for their shareholders over time.”
...
Asset managers such as BlackRock and State Street have issued proxy guidelines emphasizing corporate board diversity for firms in which they invest. So all white-male boards would struggle to draw large investors and raise money in public markets regardless of Goldman’s boycott. The bank is merely following the investment management crowd.
Well, not exactly. It turns out that Goldman’s diversity drive doesn’t extend to its business in Asia, Latin America or the Middle East where all-male boards are more common. One third of corporate boards in China and Japan have all-male boards, as do 94% of those in Saudi Arabia. Goldman has been chasing business in emerging markets as it becomes harder to deliver growth in U.S. investment banking. Goldman says that it will consider extending the policy to other regions over time after consulting with clients, and as diversity awareness increases.
Perhaps Goldman doesn’t want to impose its values on non-Western cultures that aren’t as enlightened about identity politics. Or maybe it doesn’t want its wokeness to cost the bank global customers who care more about business than American politics.
(Excerpt) Read more at wsj.com ...
“Starting on July 1 in the U.S. and Europe, we’re not going to take a company public unless there’s at least one diverse board candidate, with a focus on Hunter Biden,”
Ya know, maybe it’s time for some of us White folks to start playing by the same rules.
Just divest as much as possible from Goldman Sachs.
W T F ? !
Woke has jumped the shark.
Goldlessman Suchs
To paraphrase a James Bond villain “See that some harm comes to them.”
I hear ya.
This anti White nonsense is getting out of hand.
I don’t think for a moment that people start up businesses to ban people based on race or gender. They look for the best people.
The best people help make the most successful businesses. Duh!
Diversity outranks qualifications.
What if the board members identify as women?
Yet another glaring example of what our wildly overpriced universities have spawned.
Goldman/Sachs needs a very rude awakening from it’s victims/customers.
You mean disregarding the female, African-American, undocumented immigrant, Native American and LGBTQ percentages?
And basing your business on merit and achievement with no discrimination?
What a concept. /s
The left and its hypocrisy knows no bounds.
Frigging misandrists.
Will they boycott all the companies with all female boards?
not just anti-white
its anti-male too
I mean honestly, what have White males contributed to society in medicine, business, and science?...
Our hope lays with the people of Wakanda.
While fixing some food for myself a little bit ago, something very obvious occurred to me.
I don’t want to make broad statements based on it, but I wonder how many have realized that the Holy Trinity does not have a woman member.
A woman was selected to be Christ’s mother. Salvation could not have been realized without her. Her role was not to be a part of the Godhead, but her position was very important.
Is it wicked to only have men, or perhaps White men in a leadership group?
Should White people give up their jobs to people of color or a woman? Is that a duty?
It seems to me that opportunities are out there for everyone to develop their own talents. Minorities are free to develop their own leadership teams. Women are as well.
Should there never be a minority or woman on a predominantly White Male team? No. There should always be the possibility of filling an opening with a woman or a minority, if they are the best qualified.
There’s this PC version of everything these days, and if we don’t buy into it, we’re supposed to be the bad people. And it’s pretty obvious the bad people are quite often people who make narrow definitions of what is right or wrong these days.
Malice IS NOT a given conclusion to everything that doesn’t suit us.
Yes, I agree. It’s chilling what is taking place on some college campuses, with White males being told to sit down and shut up, also having to take sensitivity classes.
In Greek, Shekinah became Sophia. It was believed by early Christian mystics that Sophia was entity known as the Holy Spirit and was female.
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