Goldman Sachs CEO: We won't take you public unless you have a one diverse board member

#5
#5
Honestly, who gives a **** if a company has a diversity quota? Why are you guys so threatened by this? The free market values diversity, even if you do not.
 
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#6
#6
MG1968 said:
If it’s such a great policy, why are they waiting until July 1 to implement it?
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Probably for existing projects or contracts to clear out

Unless the OP has an ipo in jeopardy I'm not sure why this matters much
 
#9
#9
n_huffhines said:
Force? Every interaction here is voluntary. You don't have to do business with them.
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Do you question Home Depot when you shop there about their diversity policy and if you don't like the answer leave? Nobody gives a crap about this in their day to day lives, they just want to make a paycheck, see their kids grow up and play sports and be comfortable.
 
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#10
#10
VolStrom said:
Do you question Home Depot when you shop there about their diversity policy and if you don't like the answer leave? Nobody gives a crap about this in their day to day lives, they just want to make a paycheck, see their kids grow up and play sports and be comfortable.
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Irrelevant to any points I'm making. Never change
 
#11
#11
VolStrom said:
Do you question Home Depot when you shop there about their diversity policy and if you don't like the answer leave? Nobody gives a crap about this in their day to day lives, they just want to make a paycheck, see their kids grow up and play sports and be comfortable.
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Apparently it's not voluntary for Huff to argue with everybody about everything. It has to be mandated on some level.
 
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#12
#12
n_huffhines said:
Force? Every interaction here is voluntary. You don't have to do business with them.
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If every bank like GS adopts a similar policy, what then? If you or I start a men’s underwear company, and want to go public with it, why should we be forced to have a female board member if our product is exclusively for men?
 
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#14
#14
MG1968 said:
If every company adopts a similar policy, what then? If you or I start a men’s underwear company, and want to go public with it, why should we be forced to have a female board member if our product is exclusively for men?
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There is no plausible scenario where every company adopts a similar policy. Say every existing underwriter decides to forego this business, some new underwriter will step in and fill demand. But say your hypothetical is a reality, there is still no force at play. As is almost always the case, the free market will produce a workable solution.

Also, their rule doesn't say you have to have a female or any specific kind of diversity.
 
#15
#15
n_huffhines said:
There is no plausible scenario where every company adopts a similar policy. Say every existing underwriter decides to forego this business, some new underwriter will step in and fill demand. But say your hypothetical is a reality, there is still no force at play. As is almost always the case, the free market will produce a workable solution.

Also, their rule doesn't say you have to have a female or any specific kind of diversity.
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Your response is as idiotic as one company trying to force who another company hires.
 
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#18
#18
n_huffhines said:
Honestly, who gives a **** if a company has a diversity quota? Why are you guys so threatened by this? The free market values diversity, even if you do not.
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I don't have to be threatened by it to question it as a business decision. Perhaps it has no impact if the board is big enough but not underwriting a solid IPO opportunity for a reason like this is questionable business practice.

And yes I fully accept they have the right to do whatever they like and suffer the consequences or reap the benefits.
 
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#19
#19
Bigun said:
What I will never understand about companies like Goldman Sachs and Chic Fil A. No matter how much you pander to the leftists it is never enough and makes zero difference to them.
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The left has no idea when to stop. The marxists will continue to drive the country to south America level of insanity
 
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#20
#20
n_huffhines said:
Honestly, who gives a **** if a company has a diversity quota? Why are you guys so threatened by this? The free market values diversity, even if you do not.
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Honest question....

What if they are all white men but one guy feels he is a woman trapped in a mans body?

And if GS disagrees could they be sued for discrimination?
 
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#21
#21
NEOCON said:
Honest question....

What if they are all white men but one guy feels he is a woman trapped in a mans body?

And if GS disagrees could they be sued for discrimination?
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They can update the criteria for the board composition. When there are white tallywackers only in the boardroom the IPO will not be allowed.
 
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#22
#22
MG1968 said:
If every bank like GS adopts a similar policy, what then? If you or I start a men’s underwear company, and want to go public with it, why should we be forced to have a female board member if our product is exclusively for men?
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Why should GS be forced to take your underwear company public?
 
#23
#23
volinbham said:
I don't have to be threatened by it to question it as a business decision. Perhaps it has no impact if the board is big enough but not underwriting a solid IPO opportunity for a reason like this is questionable business practice.

And yes I fully accept they have the right to do whatever they like and suffer the consequences or reap the benefits.
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Would we have a thread if GS had made a questionable rule change to their vacation policy? None of this affects us but there is a thread about it because people are threatened by it and feel compelled to voice opposition to it.

Diversity is good. It's as if we think these boards are already made up of the best candidates. There is a lot of nepotism and other BS going on and a very minor diversity measure can help with that. I wish my executive team had more diversity, specifically executive experience elsewhere. All Mormon men. 3 of them are brothers. All came up thru the company and don't know what it's like elsewhere. I'd like some fresh blood. If we had a quota for a female exec, we'd have to look externally because we don't have women that we're even trying to groom for upper mgmt.
 
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#24
#24
NEOCON said:
Honest question....

What if they are all white men but one guy feels he is a woman trapped in a mans body?

And if GS disagrees could they be sued for discrimination?
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You can say anyone for any reason at any time
 
#25
#25
MG1968 said:
If every bank like GS adopts a similar policy, what then? If you or I start a men’s underwear company, and want to go public with it, why should we be forced to have a female board member if our product is exclusively for men?
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You might want to have female input on the sexy angle. You can hire a focus group for that. Don't have to have female board members. How bout we stick to who's best at doing the job and not focus on diversity for the sake of just being diverse.
 
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