®l{* ^ortlaub (Dhseruer
lune 8. 2011
Page 7
It’s Time to Vote out the Old Boy’s Club
Stop Investing
in Sexism
by
groups, and other advocates have
shown us that begging and moral
suasion aren't enough. Ac­
cording to a recent Financial
Times article, in 10 years the
proportion of women board
members on Fortune 500com­
panies has barely crept up
from 12 to 15 percent, and 60
of those corporations have
no women on their boards at
all. Even in California, a state that is
generally viewed as progressive,
female directors in the largest com­
panies hold a paltry 10 percent of
the seats.
It's time for shareholders to take
the reins and vote out the old boys'
club. If you think only men are up to
the job of running companies, think
again. Credible research has shown
that firms with the highest propor­
tion of women on their boards sig­
nificantly outperform the lowest in
M artha B i rk
My entire working
life, roughly 50 years.
I've been hearing the
same old excuses for
women not advanc­
ing in c o rp o ra te
America. Two are dominant: "we
can't find qualified women," and
"just wait until the pipeline gets
filled and things will automatically
get better."
If the pipeline can't fill in half a
century, how long will it take? Cor­
porate America, particularly in the
boardrooms where the big decisions
are made, is still very much an old
boys' club.
Years of prodding by individual
fem ale shareholders, w om en's
terms of sales, equity, and return on
capital. And were women in the
majority when the shysters in the
financial sector led our economy off
the cliff? Hardly.
Naysayers and apologists for the
status quo will ask, "Well, if you
don't like the way a company is
being run, why not just sell the
stock and move on?" Certainly
that's an option, but if you don't let
the company know why you sold
your shares, it changes nothing. It's
far better to advocate from the in­
side, as a stakeholder as well as a
stockholder. You have a stronger
claim on company policy if you're
even a small part of the ownership.
But the biggest shareholders
have the most clout. These are mu­
tual funds holding 401(k) money,
huge retirement plan administrators
like TIAA-CREF serving educators,
and public pots of money such as
Republican Attention-Seekers
Trump and Palin
are detractions
by
J udge G reg M athis
The p o litica l sid e ­
shows known as Donald
Trump and Sarah Palin
recently met in one of the
b u sie st spots on the
planet - New York’sTime
Square - for a little con­
versation and pizza. No one is really
sure
w hat
the
tw o
discussed.. .perhaps they marveled
at all they have in common.
On the surface, the two couldn’t
seem more different. Trump is a
business mogul, known for his real
estate prowess. Palin is a small town
politician who was thrust into the
spotlight when she was picked as
Sen. John McCain’s running mate
during the 2008 elections.
But look closer and you’ll see
that the two seemed to be cut from
the very same attention seeking
cloth.
Palin, who is the middle of her
mystery “One Nation” bus tour of
America, and the tycoon first met at
his upscale home then ventured out
for their “Pizza Summit”. With the
media watching, Palin said she and
TJ
I
Trump both share a love for America them.
and “a desire to see our economy
Another similarity the two share:
put back on the right track."
confusion around just how serious
T heir sim ilarities run much the two are about politics. Outside
deeper. Trump and Palin of his rabid supporters, very few
have both become dis­ people seriously thought Trump was
tractions in the just get­ going to run for the nation’s highest
ting started presidential office in 2012. Many feel the same
race, making outrageous about Palin; they don’t know if her
claims and creating politi­ tour will end with her tossing her hat
cal controversies that are in the ring or if she’s setting herself
forcing their colleagues in up for her next reality show.
the Republican Party to keep their
It is ironic that Trump and Palin
distance.
both claim to love America so much
From Palin’s cross-hairs slip up when they, by their actions and
to Trump’s continued challenge of words, are guilty of distracting the
President Obama’s credentials, the country from focusing on issues
two have managed to keep them­ that matter.
selves in the news.
Instead of covering Trump’s rants
Many of their comments have or Palin’s incoherent sound bites,
been so outrageous that one can the media should be shedding light
only assume they are making them on more serious concerns, like edu­
for the sole purpose of getting at­ cation or the economy. B ut how can
tention. Trump, after all, and his they when you have two of the
show “The Apprentice” has been a biggest media hogs feeding you
reality star staple for the last several with content day after day?
years. Palin is a newbie to the scene
We can only hope that media
but seems to be capitalizing on her fascination with the two will die
15 minutes with television appear­ down soon. Then, we can all begin
ances coming one after the other.
to talk about things that matter.
When you have two people who
Greg Mathis is a form er M ichi­
seem so addicted to the media, it’s gan District Court judge and cur­
no surprise that they’ll do anything rent syndicated television show
to keep the cameras focused on judge.
SP VlU'V
Established 1970
"
state reserves and permanent funds.
Dam near all of them are investing
money that largely comes from
women’s work. Women are now not
only the majority of the U.S. popu­
lation, but also half the U.S.
workforce — and therefore half the
taxpayers. We dominate fields like
teaching and nursing and will soon
comprise a majority of union mem­
bers. The money female workers
pour into these retirement funds is
huge, and the folks that control the
votes ought to pay attention to who
is represented on the investment
end. All these entities should have
policies against supporting all-male
boards.
It's time for a new strategy, and
I'm happy to report that one com ­
pany has recently stepped up to
the challenge. Joe Keefe, presi­
dent and CEO of Pax World Funds,
has advised com panies in which
the fund holds stock that Pax will
vote against any all-m ale slate of
directors. He has also written a
letter to large institutional share­
holders calling on them to do the
same. It's part of the firm's push
for gender equality as an invest­
ment concept, which includes the
only m utual fund in A m erica
whose focus is on investing in
com panies that are global leaders
in advancing gender equality.
Just a few large investors follow­
ing this lead could make all the dif­
ference — for the bottom line, for
fairness, and for the rights of the
majority — women. Only then will
we stop trusting in that elusive
"pipeline."
Martha Burk is a political psy­
chologist, women's issues expert, and
director o f the Corporate Account­
ability Project fo r the National Coun­
cil o f Women's Organizations.
Mt. Calvary Christian Church
Invites you
to join in our Celebration
for
Reverend
Frederick D. Woods
2nd Pastor’s Appreciation
Them e: “A Man After God’s Own Heart”
1 Samuel 2:35 & Acts 13:22
Friday-June 10th-7 :3 0 p m -9 :3 0 p m
S unday-June 1 2 th -3 :0 0 p m -5 :0 0 p m
Location: 126 N.E. Alberta St.
Portland, OR 97211
Come join us in worship, laughter, fun and Love...
Opening Friday Night Speaker: Pastor Roy Clay of
Philadelphia Community Missionary Church
Special Speaker ending Sunday’s service:
Pastor Vernon Norris o f
Blessed Temple Community Church
For any questions please contact: Evangelist Velma
Campbell Straight at: (360) 773-9254 or email:
simplystraightministries@yahoo.com / in subject line write:
Pastor Woods Appreciation.
Velma Campbell Straight - "Servant of the Most High God"
"Simply" Straight Ministries
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