Illinois House votes to require woman, African American on all corporate boards

b00sted

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https://www.watchdog.org/illinois/illinois-house-votes-to-require-woman-african-american-on-all/article_bac67c15-1b60-5f9c-8aa2-0002385434a5.html?fbclid=IwAR2CsAj7bZ_TzhAxzVn-QtVF3KJJW1SnV1vEWIa9E8SZM7nvB-yaaLdGb18#utm_campaign=blox&utm_source=facebook&utm_medium=social

After a heated debate, calls of racism, and shouting, the Illinois state House of Representatives voted to require all publicly held companies in the state to have at least one woman and one African-American on the company's corporate board.

State Rep. Chris Welch’s bill, which passed Friday, would require any publicly-traded company headquartered in the state to have at least one woman and at least one African-American on its corporate boards starting in 2021.

“No later than the close of the 2020 calendar year, a publicly held domestic or foreign corporation whose principal executive offices, according to the corporation's SEC 10-K form, are located in Illinois shall have a minimum of one female director and one African American director on its board of directors,” according to the text of the bill. It would allow boards to expand to meet the requirements.

It would require the Secretary of State to keep an online list of corporations that would show if a company is in compliance with the law.

The bill would also impose fines up to $300,000 for failure to comply.

State Rep. Tony McCombie, R-Savanna, said Welch’s bill is one of many anti-business bills lawmakers have passed this year.

“We are destroying the ability for our state to grow,” she said.

The conversation got heated and included accusations of racism. Welch, D-Westchester, said African-Americans and women deserve to have a voice in corporate America, which he said they’re not getting now.

“I’m not going to be ashamed to stand here and fight for the people that sent me here,” he said. “Ashamed to fight for African-Americans to have a right in a room? Are you kidding me?”

The Senate now takes the bill for consideration.

Debate on Friday included talk of expanding the requirement to include all minorities, not just African-Americans.

California lawmakers approved a similar law, which will take effect in 2021. California's law only applies to women.

Some legal scholars questioned California’s requirements when they were enacted, saying they could run afoul of the U.S. Constitution’s Equal Protection Clause.
 

1quick

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What ever happened to just having the most qualified person do the job
 

Dan00Hawk

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I'm triggered that there hasn't been mention of having at least one Eskimo trans-gender person on the corporate board.
 

zenriddles

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No requirement for QLGBTROFLBBQWTF?
Soon, sir. Soon.

The intersectionalism/victim minorities will all check in with their list of demands. Instead of retracting a stupid idea, think of how much the politicians can expand the bureaucracy with this maneuver?

"We need more workers now to monitor the behavior reports that are pouring in..."

BOTH sides love this sh!t.
 

importcrew

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If I had a corporation, I'd completely ignore this if it passes and gets signed in. My company, and I'll hire whomever best benefits my company.
 

MrDragster1970

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What ever happened to just having the most qualified person do the job

HOW DARE YOU Sir!!!!

You are a despicable, prejudice, racist, sexist, genderist, minorityist, and every other ist I can think of!!!
What would you expect next, no quota's for school admission, giving minorities free points??
No quota's for police & fire, giving minorities free points??
No quota's for promotions, giving minorities an advantage instead of a blind promotion system??

What's wrong with you, every one knows there must be a victim in every thing!!!!


.
 

MrDragster1970

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.


Anyone that approves of this is an idiot, anyone that came up with this is a POS LOSER!!!!
Earn what you get, keep what you earn, and take care of your self.
Forced quota's is idiotic and illegal.
It is 100% a POS liberal scheme to bribe the clueless, ignorant & brainwashed into voting for them!!!
It's not your fault you can't be a CEO making 50 million dollars a year, it's the evil, wealthy, successful, racist Conservatives that are keeping you down!!!!
Nothing to do with you are stupid and screwed around instead of studying and preparing yourself to be an adult!!!!!!!


.
 

sickmint79

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300k fine probably is pretty tolerable for a publicly held company with a corporate board.

i would hope the state doesn't pass this and it hits constitutional problems hard in some way because it's pretty ridiculous.
 

guspech750

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I like how our highly esteemed representatives are more concerned about someone who makes $500,000+ a year than worrying about corruption, criminals, middle class workers, broken down school system and much more.

I do get it. Lots of highly educated extremely smart women are passed over simply because they are women. But trying to force companies to hire certain people based on race and gender is not the answer.

But I recommend starting with more important issues before we worry about corporate boards.
 

Mr_Roboto

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Just what we need our state legislators pissing away money writing legislation that will almost certainly not pass court muster but not before the AG pisses away money defending it. Also going to give license to grifters positions on boards.
 

Flyn

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If this takes effect, the people who will be hurt most are the small business white men. If you're a small corp. and have half a dozen employees with income less than a mil. a year, you either need to put someone on your board and pay them or risk a $300K fine that could bankrupt you.

What's the new person on the board going to do? Will they work with the corp or just be paid to show up at meetings? For instance, what about a specialized business like dental crown manufacturing where everyone makes crowns in a dental lab? Each person is trained in that profession. Do you need to take one of them and put them on the board? Or hire someone from the outside who knows the profession and immediately put them on your board? WTF?

I would expect a lot of owners would look into alternative forms of business ownership.

This bill is total BS.
 

Stink Star Productions

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Could you imagine being the one woman or person of color looking around the board room knowing the only reason you’re there is because it’s the law? That seems worse than not being there in the first place
 

b00sted

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If this takes effect, the people who will be hurt most are the small business white men. If you're a small corp. and have half a dozen employees with income less than a mil. a year, you either need to put someone on your board and pay them or risk a $300K fine that could bankrupt you.

What's the new person on the board going to do? Will they work with the corp or just be paid to show up at meetings? For instance, what about a specialized business like dental crown manufacturing where everyone makes crowns in a dental lab? Each person is trained in that profession. Do you need to take one of them and put them on the board? Or hire someone from the outside who knows the profession and immediately put them on your board? WTF?

I would expect a lot of owners would look into alternative forms of business ownership.

This bill is total BS.
It only applies to publicly traded companies.
 

Mr_Roboto

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Could you imagine being the one woman or person of color looking around the board room knowing the only reason you’re there is because it’s the law? That seems worse than not being there in the first place
The soft bigotry of low expectations.
 

MrDragster1970

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Could you imagine being the one woman or person of color looking around the board room knowing the only reason you’re there is because it’s the law? That seems worse than not being there in the first place
Unfortunately, many of the people that have stolen a position they didn't earn & definitely don't deserve, think they are entitled to it for some reason???
Either because 150 years ago, nobody in their actual family was a slave, or because they have been brainwashed into thinking white guys have held them down, and their failures have nothing to do with them being stupid, lazy or a screw up!!!!


.
 

kyesburrell

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Could you imagine being the one woman or person of color looking around the board room knowing the only reason you’re there is because it’s the law? That seems worse than not being there in the first place
At that point they're just tokens. Token african american. Token female. Kinda belittling to say that their race/gender is their defining characteristic. Never mind their education, work experience, certifications...
 

Mr_Roboto

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I would ask Elizabeth Warren and Shaun King to be on my board. Just saying.
 

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