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Anything else you want to dictate to companies?

1,447 Views | 10 Replies | Last: 3 yr ago by Red Rover
Bocephus
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AG
https://www.wsj.com/articles/nasdaq-proposes-board-diversity-rule-for-listed-companies-11606829244?st=00d0rc6qciqzqdq&reflink=article_copyURL_share
TAMU ‘98 Ole Miss ‘21
cgh1999
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AG
Aaron Sorkin suggested climate policies this morning on CNBC. It's about time for someone to start the Freedom Stock Exchange!
YouBet
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AG
Welcome to 2020 - the year we sanctioned racism and sexism as policy.
Bocephus
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cgh1999 said:

Aaron Sorkin suggested climate policies this morning on CNBC. It's about time for someone to start the Freedom Stock Exchange!


There are other exchanges that stocks can be listed on
TAMU ‘98 Ole Miss ‘21
ABATTBQ11
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AG
Their exchange, their rules. Welcome to the free market.
Casey TableTennis
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Does the company have to publically disclose the white gay male, or does NASDAQ simply keep this list? Insane!

It is their exchange, their rules. But, having the rules changed for existing listed companies does seem a bit unfair. Plenty of time will likely be given to adjust, but calling this a free market move seems disingenuous given the real world costs of listing and changing exchanges.
Red Rover
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I foresee a lot of investor lawsuits if they remove a company or even threaten to remove a company based on sexism and racism. The impairment to stock value would be easy to show and that would all happen based on rules that are inherently sexist and racist. I don't actually see anyone moving forward these rules. This smells like a trial balloon destined to fail.
topher06
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How minority do you have to be to qualify for fulfilling this requirement? Also, what is the technical definition of Hispanic - specifically, does Spanish blood count?
2wealfth Man
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topher06 said:

How minority do you have to be to qualify for fulfilling this requirement? Also, what is the technical definition of Hispanic - specifically, does Spanish blood count?
I eat tacos and enchiladas; does that count?
HalifaxAg
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I would gladly buy stocks listed on the new **** Your Feelings Exchange.

FYFE has a nice ring to it.
YouBet
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topher06 said:

How minority do you have to be to qualify for fulfilling this requirement? Also, what is the technical definition of Hispanic - specifically, does Spanish blood count?


This. Where is the cutoff? Are you going to have to start submitting a DNA test to prove your credentials? I'm now envisioning a world where you put your DNA makeup in your resume or LI profiles like some folks put their personality traits from StrengthsFinders or Myers Briggs.

Pro tip: figure out a way to highlight that 5% of blood from your ancestors in Africa to get additional credit.

Welcome to dystopia!
Red Rover
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ABATTBQ11 said:

Their exchange, their rules. Welcome to the free market.

Except that there are laws against discrimination and hiring based on race or sex. While we haven't seen it challenged en masse, those laws work both ways. NYSE couldn't decide tomorrow to list only companies run by all straight white males. That's illegal. So is this.
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