October 10, 2020 By Lloyd Billingsley
On September 30, California governor Gavin Newsom signed Assembly Bill 979, mandating that publicly traded companies place members of "underrepresented communities" on their boards. The bill's author, Pasadena Democrat Chris Holden, claims that "all of California's corporate boards will better reflect the diversity of our state," but in California and across America, people have cause to wonder exactly what Holden is thinking.
For example, one board member could boast proven expertise in economics, another in marketing, manufacturing, and so forth. Or one board member could have proved her worth in New Zealand, another with success in Norway, Ireland, or Italy.
But that is not the kind of diversity the author has in mind.
"Underrepresented community" means African-American; Hispanic; Latino; Asian; Pacific Islander; Native American; Native Hawaiian; Alaska Native; and those who self-identify as gay, lesbian, bisexual, or transgender. By contrast, Asians and "whites" are held to be over represented in management........ That means reinstatement of state-sponsored racial and ethnic discrimination.
Newsom has signed a law that imposes such discrimination on corporate boards without regard to proven performance or educational and employment backgrounds. Failure to comply can bring fines of $100,000–$300,000. If more corporations start leaving the Golden State, it would be hard to blame them. ................To Read More...
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