California continues to suffer for a terminal case of the Bloomberg Syndrome.
California is experiencing a housing crisis, inflation, and delays have just added millions of dollars to the cost of the high speed train to nowhere, and our leading candidate for governor is proposing free healthcare for illegal immigrants.
The cherry on top of this Sacramento-created monstrosity has to be a new law dictating to businesses that women must be appointed to corporate boards.
State legislators passed a bill Wednesday that would require publicly-traded companies headquartered in California to place at least one woman on their board by the end of next year — or face a penalty.
Research shows that female representation on boards is key for women’s advancement in corporate America. Women on boards are more likely to consider female leaders for the C-suite and choose more diverse candidates for the board itself.
If the bill is signed into law by California governor Jerry Brown, it would be the first state to take such a step.
The penalty for non-compliance would be harsh, creating a #Diversity fine for non-compliance.
The bill mandates that corporate boards include at least one woman by the end of 2019 and as many as three by the end of 2021, depending on size. Companies that fail to comply could face a fine up to $300,000 from the California Secretary of State.
What is the chance of Brown not signing a piece of social justice legislation as part of his legacy development goals? Somewhere between microscopically thin and none.
Of course, representatives from the party that brought you the “wise Latina” approach to U.S. Supreme Court appointments assert that this move is going to bring nothing but sunshine and unicorns to businesses everywhere.
“It’s a world where all you see are men in the boardroom. I find it very hard to believe only men can qualify,” said state Sen. Hannah Beth Jackson (D-Santa Barbara).
Sen. Jackson is determined to change that. She’s pushing Senate Bill 826 which would make California the first state to require companies to hire women on their corporate boards of directors or face a fine.
“Women on boards of directors perform better for their shareholders,” she said.
Some astute citizens have already identified the problem with this ill-conceived piece of social justice legislation.
OK, now define “woman.”
You people are going to end up bathing in the very gender identity shitshow you’ve created for yourselves. https://t.co/PC81suix3q
— Federalist Musket ???????? (@Patriot_Musket) August 31, 2018
One list cites 29 genders in addition to the 2 traditionally acknowledged by those of us who believe in science and reason. Surely it is only a matter of time that a femme two-spirit demand their chance to contribute to the corporate bottom line.
Where will it end?
What about midgets??? Little people are people too…
— Misuta Supakoru (@flwrules) September 1, 2018
The line between satire and reality is becoming vanishingly small.
I hear California is also considering a corporate board mandate for at least one LGBTQ, one unauthorized immigrant and one extraterrestrial.
— Steve Tobak (@SteveTobak) August 30, 2018
It’s funny how often unintended consequences are entirely predictable.
More likely it will drive corporate offices out of California. Board seats should be based on merit nothing else.
— CyberPunk_INC (@Cyberpunk_INC) August 30, 2018
Bloomberg Syndrome occurs when a local or state government official decides to speak on global or national issues rather than issues with which his/her office is concerned and is a signal that he/she is about to perform poorly on the issues for which he/she was elected.DONATE
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