A Nasdaq Chief’s Diversity Stunt

Adena Friedman, President and Chief Executive Officer, Nasdaq, will speak for the press on 31. July 2019 in New York City.

Photo:

Mary Altaffer/Presse Associée

It was always possible that Donald Trump’s ruthlessly simple self-promotion would have the opposite effect to the standards that the trailers were concerned about. But there is evidence, admittedly, of counter-theory.

In American companies, executives are still expected to present themselves as humble servants rather than the main channels of communication. The Nasdaq stock exchange then decided to adopt a social policy, proposing to require listed companies to achieve the diversity objectives of Nasdaq CEO Adena Friedman on their boards.

Let’s calculate the absurdity. Shareholders of listed companies elect their directors and can already do so if they choose (and some do) to promote diversity. Voters elect state and federal legislators who, if they believe that the public supports them, can accept mandates with positive results.

Nobody’s chosen Nasdak, because even Mrs. Freedman seems to want to give in. Although companies that do not meet the requirements can theoretically be taken off the stock exchange, they will not be, she said. They’ll have to explain publicly why they don’t obey. (I hope many will say that this is because respected members of their board of directors refuse to comply with Ms. Freedman’s request to identify themselves on the basis of race, gender and sexual orientation).

Just two years ago, when Mrs. Fridman was appointed, she literally knocked at the table and insisted that her main goal would be to reduce the bureaucratic obstacles that make the public list so unattractive to start-ups. I wonder how the prospect of an open Senate seat has changed his priorities. (Jumps in the head of a 77-year-old man)

Ben Carden

in Maryland, where Mrs. Freedman lives and where her family has long been known in society)).

Since your cynicism is not yet fully developed, I have already said that the SEC not only wants to have its rule approved, but also to apply it to other stock exchanges and even private companies, so that the Nasdaq does not feel particularly uncomfortable with its boss’s attack on the creation of a brand that shapes its identity policy.

Or that, if Nasdaq has failed to reverse the downward trend in listings, it will encourage a partnership with Equilar, a diversity consultancy, and its own Nasdaq Center for Board Excellence to sell the diversity services that companies might need under its new regime?

In the end, the public can buy Nasdak’s trick with diversity, but the voters sometimes get tired of cynicism. witnessing infertile growth.

Richard Cordray,

an Ohio politician whose meteorite career ended after he became the first head of Obama’s Office of Financial Consumer Protection to write a series of obscene racist shocks. Or to commemorate an equally sad fate.

Hubert Humphrey III.

after associating the most famous name in Minnesota politics with the Scythian National Tobacco Regime of 1998.

Perhaps Nasdak did not join the media to gradually realise that last year’s elections could also be seen as a rejection of Mr Trump’s trump card.

Honor is the word we’re looking for. After Mr. Trump, after

Adam Schiff,

à

Masi Hirono

a wild insistence that rape charges against any Republican are always true.

James komi,

the audience might be ready for something else.

There’s nothing wrong with diversity. That’s why so many crooks, crooks and cynical impostors are involved. No sensible person believes that America has not missed out on the unused gifts of a large part of its population, in some cases out of fanaticism and in others out of what someone has called a mild fanaticism of low expectations.

Others have funded charter schools and scholarships to help underprivileged young people follow their own path, according to their own gifts and dreams, rather than as future candidates for purely symbolic and Kumov’s work. The last thing America needs is to burden everyday life with even more personal and political paranoia. Or to convert the most successful entrepreneurs into benefit recipients. Or to metastasize other examples of elitist patronage in order to alienate the public. Pay no attention to the fact that there are more such rules in America, for the explanation of which the 271 pages of the Nasdaq are needed. Even the liberal voters in California pointed out last month that gross and ingrained positive action should be a thing of the past.

The Nasdaq already plays an important role in American life by providing liquidity to the company and its shareholders. If she can be persuaded to do her daily job, she may even be able to recapture some of the opportunities currently available to high net worth individuals for retail investors. If the rule of diversity was her game for the personal spotlight, she might not be as ready for prime time as she thinks.

The editors of the magazine: Paul Gigott and Mary O’Grady on identity policy and corporate governance. A picture: Stephen Chernin/Getty Images

Copyright ©2020 Dow Jones & Company, Inc. All rights reserved. 87990cbe856818d5eddac44c7b1cdeb8

It appeared in the printed edition on the 9th. December 2020.

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