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Nasdaq’s diversity rule rankles GOP states

Original Article

Posted By: AltaD, 1/1/2022 10:45:15 AM

A group of Republican-led states slammed Nasdaq’s implementation of a diversity disclosure rule for corporate boards this week, arguing in a court filing that the requirement is illegal and unconstitutional. The states outlined their position in a legal brief supporting a lawsuit in the Fifth Circuit Court of Appeals, which seeks to block the rule. In the filing, the GOP administrations argued that Nasdaq rule “violates both the Constitution and exceeds the SEC and Nasdaq’s statutory authority.”(Snip)The companies are urged to have at least two diverse directors, including one who self-identifies as female and one who self-identifies as an underrepresented minority or LGBTQ+ — and if not, they must explain why


Companies "urged" and won't face penalties for failing to be woke, for now.

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Reply 1 - Posted by: GustoGrabber 1/1/2022 10:58:25 AM (No. 1025193)
I will wear a kilt and show up at any board meeting you want, put me on your board.
10 people like this.

Reply 2 - Posted by: cjjeepercreeper 1/1/2022 11:00:17 AM (No. 1025194)
Simple reply. We want the most qualified people, we owe it to our shareholders. End of story.
31 people like this.

Reply 3 - Posted by: konocti95 1/1/2022 11:20:32 AM (No. 1025212)
Rachel Dozeal please call your office.
8 people like this.

Reply 4 - Posted by: cold porridge 1/1/2022 11:32:24 AM (No. 1025225)
The leftitsts started this years ago. It reminds me of when I was in the Rotary Club which was originally a men's business club. Feminists forced the Rotary Club to allow women to join. There was no law that said women couldn't have their own club, but they wanted to be part of the men's club instead. It also makes me think of the NAACP. The commies would screech to Heaven if there were an NAAWP. Why isn't there a White Caucus in the House of Rep? It's was a slow creep that has turned into a race to see how quick we can get the nation to agree to make the white race and especially the white male the disadvantaged ones. Most of us are not responsible for anyone who may have been disadvantaged in the past, and I'm not talking about all the SJWs that falsely claim to be disadvantaged currently.
11 people like this.

Reply 5 - Posted by: JayD 1/1/2022 11:35:19 AM (No. 1025228)
GOP, this is one of the hills to stand on. Implementing rules like this is a huge step toward ESG (Environmental, Social and Governance) scoring which will implement government control over corporations (Socialism). Corporations that go along with this garbage are doing a disservice to their shareholders, and deserve to go out of business.
11 people like this.

Reply 6 - Posted by: ChattyCatsSusan 1/1/2022 11:39:32 AM (No. 1025231)
Just more proof that NASDAQ has no clue about the real world, just a bunch of theories on how to destroy companies that actually produce and provide jobs.
7 people like this.

Reply 7 - Posted by: kono 1/1/2022 11:47:52 AM (No. 1025238)
One potential outcome with comically-tragic possibilities: We could wind up having boards be all-male again, only with a bunch of members pretending to be women.
11 people like this.

Reply 8 - Posted by: Strike3 1/1/2022 11:49:56 AM (No. 1025244)
This ridiculous nonsense needs to stop. If people have time to think about their skin color all day long and whether they were born with the sex organs they think they wanted, they obviously aren't doing their jobs.
7 people like this.

Reply 9 - Posted by: Are You Serious 1/1/2022 11:56:18 AM (No. 1025250)
What constitutes diversity ? color.....sexual deviancy....genital mutilation status ? You have to be specific.
4 people like this.

Reply 10 - Posted by: Rama41 1/1/2022 11:58:56 AM (No. 1025253)
Let's call NASDAQ's diversity rule what it is: the Kamala Harris rule.
5 people like this.

Reply 11 - Posted by: downnout 1/1/2022 11:59:19 AM (No. 1025254)
I hope the Nasdaq board has made sure to have the proper quotas in place for their own management.
4 people like this.

Reply 12 - Posted by: Jesuslover54 1/1/2022 12:26:19 PM (No. 1025281)
Wasn't Bernie Madoff president of NASDAQ?
1 person likes this.

Reply 13 - Posted by: Quigley 1/1/2022 12:56:13 PM (No. 1025301)
Companies now have ESG risk scores- Environmental Social and Governance. Product Involvement Areas include Alcoholic beverages Adult entertainment Gambling Catholic values Controversial weapons GMO Military contracting Pesticides Thermal coal Fur and specialty leather Tobacco “Wokeness”- ie bludgeoning our enemies- is becoming institutionalized. Similar to how the Dims institutionalized racism after they lost the Civil War.
2 people like this.

Reply 14 - Posted by: stablemoney 1/1/2022 1:08:57 PM (No. 1025312)
People should be aware of the communists takeover of corporate boardrooms, and that the shares of corporations held by Vanguard, State Street, and Blackrock are voted by their officials, who are all woke. We are seeing that corporations and government are working in partnership, and no longer use persuasion. It is now coercion. You won't need an education. These elites are making all the decisions for you.
3 people like this.

Reply 15 - Posted by: lakerman1 1/1/2022 1:12:54 PM (No. 1025317)
What would NASDAQ under the following circumstances? XYZ Corporation places a lesbian and a male homosexual on their Board, thus meeting NASDAQ's rule.. The lesbian and the male homosexual then fall in love with each other, and both go heterosexual. Does the Board have to terminate both of them? As no longer qualified??
1 person likes this.

Reply 16 - Posted by: moebellini3 1/1/2022 2:02:59 PM (No. 1025351)
The insanity continues. The inmates are truly running the asylum..
1 person likes this.

Reply 17 - Posted by: czechlist 1/1/2022 7:40:25 PM (No. 1025571)
#5 Government co-operation with private business is not socialism it is fascism
1 person likes this.

Reply 18 - Posted by: Heil Liberals 1/1/2022 8:21:23 PM (No. 1025588)
NASDAQ goes first. Let's see how they do with "diversity." I'll bet the white guys would sweat a hot tub full.
0 people like this.

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Posted by AltaD 1/1/2022 10:45:15 AM Post Reply
A group of Republican-led states slammed Nasdaq’s implementation of a diversity disclosure rule for corporate boards this week, arguing in a court filing that the requirement is illegal and unconstitutional. The states outlined their position in a legal brief supporting a lawsuit in the Fifth Circuit Court of Appeals, which seeks to block the rule. In the filing, the GOP administrations argued that Nasdaq rule “violates both the Constitution and exceeds the SEC and Nasdaq’s statutory authority.”(Snip)The companies are urged to have at least two diverse directors, including one who self-identifies as female and one who self-identifies as an underrepresented minority or LGBTQ+ — and if not, they must explain why
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