NASDAQ wants to enforce diversity on boards as a listing requirement

NASDAQ is pushing for SEC approval of a rule that would require public companies on its exchange to have at least one female director and one “diverse” director – one that self-identifies as an underrepresented minority or LGBTQ.

Companies would be required to disclose that diversity in its filings. Forgive us for being obtuse, but wouldn’t the ability to read a balance sheet or understanding corporate governance be the more relevant skillsets for shareholders? If the best candidates happen to be all women, LGBTQ or whatever other identity, wouldn’t shareholders applaud their appointment based on just being superior candidates as opposed to genitalia or who they choose to sleep with?

We’ve already seen how badly forced diversity programs have worked at companies like PG&E. Remember that the company had full data sets on the diversity of its workforce and suppliers but not the state of the infrastructure of its core business. Alas, not understanding the health of its main product led to the devastating forest fires in California last year sending the company into Chapter 11 bankruptcy.

The irony of the plan by NASDAQ is the partnership with Equilar. The picture above is the Equilar board which doesn’t seem to be playing by the very rules that NASDAQ wants to enforce on others. It reminds us of ACSI, which is a huge advocate for diversity on listed boards, but doesn’t even meet the very requirements it seeks to impose on others.

What if a prospective board member happens to be LGBT but doesn’t wish to disclose that fact as an individual member of privacy? What will happen if a company has to choose between a female, a member of the LGBT community, a person of colour or a female LGBT person of colour? Will more ticks in the identity box grant companies be seen as more advantageous in disclosure reporting even though the LGBT person is the most qualified? What will happen if prospective directors falsely claim they identify as something they are not, merely to be in the selection process? Will the companies check the validity by peering through the window of staff homes to ensure they are sleeping with the right person?

NASDAQ also wants to push the SEC to force private companies to adopt the same framework.

In a lecture we gave to a group of executive MBA students, we put up a chart where someone’s superannuation would have grown to $430,000, $180,000 and $130,000 given three different investment products over a decade. We asked for a show of hands as to which sum people wanted to retire on. Everyone wanted the $430,000. Surprise, surprise. When it was revealed that the first sum came from a direct investment in Harvey Norman, which doesn’t believe in all this woke diversity nonsense (despite having an exceptionally talented CEO who happens to be female, the group was surprised. The middle sum was the broader market index and the worst performer was the ESG fund. When asked would that change their mind, they all said no. Who knew? Being woke didn’t matter as much as being able to retire on a larger nest egg.

The students were more shocked to find out that the management fees for ‘woke’ products was higher than standard investment structures. Who knew that heavily promoting social justice would be more financially rewarding to the investment advisors pushing it? It is for the planet, diversity and their brand new speedboat you know!

When will regulators let shareholders determine who they see best fit to run the companies they choose to invest in? We have no issues seeing more diversity on boards, provided it is based on merit rather than forced quotas.

We can’t help but feel that ambitious people (of whatever incidental identity) don’t need such condescending structures. They have enough confidence in their own ability to succeed than to be patronised in a way that suggests that without intervention they can’t get ahead.

Unfortunately these programs are by their very definition are all about discrimination.

45% LGBT Americans to vote for Trump – poll

An interesting poll. Pink News reports:

A survey of around 1,200 queer male Americans found that around 45 per cent – around 540 – plan to vote for Trump….Indeed, the LGBT+ voting bloc has long been reliably Democratic. The poll conducted by queer dating app Hornet found that, overall among its users, around 66 per cent prefer Biden while 34 per cent support Trump…But for queer Americans, pollsters said, the statistics were far tighter together.”

Morals or no morals, we are seeing similar trends among other minorities – black and Hispanic.

Trump’s rating surged 4 points during DNC circus

Rasmussen Reports daily Presidential Tracking Poll revealed that 51% of Likely U.S. Voters approve of President Trump’s job performance. That is up 4% since the DNC commenced.

What a surprise when such a low energy display of identity politics and crack pot mermaid queen-kings are promoted as legitimate speakers.

Push to change London Tube names to women & non-binary

Some people just have too much time on their hands.

Reni Eddo-Lodge and Emma Watson are leading a project to rename all 270 stops of the London Underground after women and non-binary people who have influenced the history of the city. New York had a similar group pushing for this.

The origins of the names of many Tube stations are quite interesting, some dating back 1,300 years. Many have no relation to actual people. Waterloo was named after the battle. We were surprised to discover that London Bridge was actually named after a bridge in London. Who knew?

If we use New York as an example, Bette Midler was suggested as a name. Given her reprehensible activity on Twitter, why would anyone see her as a subway name other than its proximity to the gutter?

We wonder whether the London chapter will honour Baroness Thatcher be with a Tube name or is she too conservative? Will she miss out because she detested the EU? Will Queen Elizabeth II be in the mix?

We think the movement may struggle catering to all 270 genders before being able to settle on name changes. No doubt deserving women will be replaced by those who have done nothing of any value other than identifying as a two-spirit trans penguin.

We suspect that Watson might be trying to appeal to the woke celebrity set to land her next big role. In any event, if this is the height of oppression in the feminist community, we are doing ok.

Cuomo uses Marxist propaganda to push his leadership credentials

NY Governor Cuomo seems to be channeling Chairman Mao with this propaganda poster celebrating the successes of NY State during the pandemic.

Was there an adult in the room when this poster was conceived? Seriously, is this lifting the bar of political debate and raising the credentials of the Democratic Party platform?

New York State Leads Again”? In which areas? Deaths? Infections? Both in absolute and relative terms NY State tops the country.

Where is the reference to sending people infected with COVID-19 to nursing homes? Tell the truth? Wasn’t it Gov Cuomo who ordered those stats be covered up after it was learnt of the devastating consequences? Hmm…”Follow the facts“?

Why does he take potshots at states like Florida which have 1/8th death toll per capita as New York State?

Boyfriend Cliff‘? Apparently it refers to his daughter’s boyfriend but who knows?

Had to throw a jab at Trump in there. A rainbow flag too.

Perhaps the ultimate joke is the tag line to “Forget the Politics.” A bit hard when the whole poster sets out to make a political statement which pretty much perfectly sums up the opposite of reality in NY State.

We remind readers to look up our piece on ‘Am I a Despot or Not‘ which chronicles the ludicrous measures taken by mostly Democrat mayors and governors during coronavirus which we don’t think will be forgotten by constituents.

In any event, Cuomo has exposed just how in denial he is having to resort to such juvenile stunts

#WalkAway Campaign hits 316,000

Walk Away

On June 15th, 2020 we listed some of the tales of the 250,000 people that have walked away from the Democratic Party. In just one month, the membership ranks have jumped another 26% to almost 316,000.

To put it in context. Hillary Clinton added 2 million followers from a 2 million base a year ahead of the 2016 election. #WalkAway is largely word of mouth. At the current clip it’s adding at an 800,000pa rate. Incredible.

There are so many tales on #WalkAway – see the link here of the tales of those who have had enough.

If we were advising the Redskins response to Nike

Nike has stopped selling Washington Redskins gear and won’t resume sales until the NFL team changes its name.

Nike, alongside FedEx and PepsiCo have been put under pressure by activist investors. We can absolutely guarantee that the ultimate customers of money managers – individuals – want decent and sustainable returns, not woke virtue signaling.

Given investment houses often preach about the importance of accurate numbers, due diligence and shareholder returns, why not accept that over 90% of Native Americans have no issue with the name? Have Native Americans come out on mass demanding the name change?

The thing is that the majority demanding the change haven’t bothered to consult the very people who don’t appear to be bothered by it. Another typical woke liberal talking point to post to social media feeds to make themselves feel morally superior despite the fact that the majority don’t represent the very people they claim to.

What woeful governance practices to cave in to activists, who often don’t meet the very guidelines they demand of others.

Perhaps the Washington Redskins should return serve on Nike and demand that using a name from Greek mythology is cultural appropriation and not inclusive of the trans community. It should also request Nike stop making products that use cotton because of its links to slavery.

Furthermore, the use of synthetic materials that rely on the fossil fuels industry must be banned to show its commitment to combatting climate change.

The Redskins management should also demand that Nike force any staff member, executive, supplier, contractor or sports figure they sponsor not use Mercedes for its former links to slavery.

The cancel culture must apply across the board.

#PushBack. The corporate world has no place lecturing anyone on morals.

#WalkAway hits 250,000

We’ve written about the #WalkAway (from the Democrat Party) movement for a few years now, founded by Brandon Straka. His viral video here.

We subscribe to the FB page and note in recent weeks there has been a huge surge in people posting they’ve joined the #WalkAway movement. It is no surprise.

These people are from all walks of life. Whites, blacks, Hispanics, Asians, Arabs, LGBTQI…goths. You name it. 252,000 are members and we encourage people to read their stories about how poisonous they believe the Democrat Party has become.

Kat Taylor (pictured) wrote,

In 2016 I was a delegate for Bernie Sanders. In order to get elected as a delegate, we all went up and explained why we were worthy of getting accepted. This basically meant, say as many reasons why you have been oppressed and whoever has it the “hardest” gets to be a delegate…

…I began to realize that if I can’t keep up with the progression of the liberal party, I can’t be a part of it. It’s not enough to have “some liberal ideas” you have to be all in – or your out! And if your out, that means that you are a racist, you are priveledged, you are sexist, you are bigoted…

… This is why I’m voting #trump2020 KAG.”

Or Garett,

Hi everyone, my name is Garrett. I’m new here, but feel privileged to be a part of the #WalkAway movement.

spending years in the gay community I was always led to believe that, politically, I had to be a liberal. Democrats were the ones who truly cared about the LGBT community,

In 2016 I didn’t vote. The past four years have been beyond eye opening. Not only did I start taking the time to do my own research and allow myself to be open minded, but I started to see the true colors of so many people who had claimed to be so loving and inclusive. I have seen so much hatred and division, and have been verbally attacked for my support of Trump, accused of self-hatred, xenophobia, racism, you name it…I can’t WAIT to vote for Trump in November! 😁 Blessings to you all!! Stay strong!! 🇺🇸🇺🇸

Or Jessie,

I am a gay woman that believes in equality.. I voted Democrat like clockwork until Covid-19 and the riots that followed. Racism is a very real thing, yes, but hypocrisy is as well. Members of the left play on the lefts self image of pro-peace, anti-violence, anti-racism, anti-bullying. It’s an act. A delusion. So many times now I have witnessed a leftist immediately resorting to name calling at the first sign of disagreement. So many times now I have witnessed liberals jump to the defense of violence toward the innocent because it’s in the name of a “greater cause.” So many times now I have heard that reverse racism isn’t a thing while watching video after video of whites being violently attacked simply because of the color of their skin. I am not against equality, but I am very much against hypocrisy.”

Or Talia:

My name is Talia Howard and a friend of mine invited me to this page and WOW can I just say I’ve never been on a page with more kind and tolerant people in my life and I am so excited to be associating with like minded patriotic individuals. I am of Hispanic/Arabic heritage and people are very surprised when they hear I support the President. I was fortunate enough to be raised on the right side of politics and grew up conservative. However I am more of a closet Trump supporter because of all the attacks, name calling and backlash I get, along with my whole family when I share that I support Trump. It’s a sad world we live in when we can’t even openly support the President. Can’t wait to vote in November!! Trump2020

The Facebook link to #WalkAway is here. Just scroll the pictures and you’ll get an idea of how diverse the group is. Identity politics he damned. Celebrate like minded individuals instead.

Way to go, Joe! If you vote for Trump, “you ain’t black”

Joe Biden just keeps the gaffes going.

On Friday morning the former VP said, that if black Americans are unsure whether to support him over Trump in the November 2020 election, “then you ain’t black.

Such is the scourge of identity politics within the ranks of the Democrats that Biden is not the only one to think that minorities aren’t entitled to individual thought. Democrat Congresswoman Ayanna Pressley (of The Squad) infamously said during the Trump “shith*le country” saga,

We don’t need any more brown faces that don’t want to be a brown voice. We don’t need black faces that don’t want to be a black voice. We don’t need Muslims that don’t want to be a Muslim voice. We don’t need queers that don’t want to be a queer voice.

How quickly The Squad (AOC, Pressley, Tlaib and Omar) denounced America’s treatment of minorities when it was that very system that enabled them to attain public office at the highest level.

Essentially, they hold on to the tenet of telling constituents to shut up and conform to the stereotype of their minority status so it can be exploited. Funny how the supposedly racist Trump has done more for black Americans in economic and employment terms before the pandemic than any Democrat preceding him.

Biden, Pressley and other like them behave like the very racists they condemn.

Biden later apologized on a call with the Black Chamber of Commerce, “I should not have been so cavalier. I’ve never, never, ever taken the African-American community for granted…I shouldn’t have been such a wise guy.”

Victoria to become 100% female if superannuation laws passed

The Democratic People’s Republic of Victoria is wanting to push legislation to allow companies to pay women a higher rate of superannuation than men to close the gap. Adjustments to the Sex Discrimination Act would be required.

Given the legislation that allows one to change gender without question in Victoria, why would anyone identify as male if their superannuation might be higher with a company that wanted to be woke? Who are companies to deny my right to identify as the gender I claim to be.

Even if companies wanted to voluntarily pay women more superannuation, they should prepare for a revolt by men. As bogus as those making a gender change claim might be, if they have it formalized on their birth certificate then, as a matter of law, companies would be forced by their own hand to pay men who identify otherwise.

The market is a wonderful weighing mechanism. Obamacare was one of the largest contributing factors as to why 94% of jobs growth under President Obama was part time. Companies avoided red tape by bypassing the legislation that would raise costs to unsustainable levels.

If governments want to create higher unemployment, pushing higher super is one way to put a brake on jobs growth and push companies to hire cheaper male employees.

So by the very misguided altruism of the Victorian government, women could end up worse off and the gap even wider.

What if a person with genuine gender dysphoria identities as a trans male. That would mean under the legislation a company would be entitled to lower super payments.

There are plenty of other ways to address the gap – this isn’t one of them.