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California Governor Jerry Brown signed a bill into law today that requires major companies with headquarters in California — including many household-name tech firms — to have at least one woman on their boards by next year, and depending on the size of the board, up to three women by 2021.
The law is the first of its kind in the U.S., and proponents say it's needed to equalize the representation of women in corporate boardroom. Currently, a quarter of California's publicly traded companies do not have a woman on their boards. Companies that fail to comply with the new rule face fines of $100,000 for a first violation and $300,000 for a second or subsequent violation.
The law already faces opposition from business groups, which could challenge the basis of preferential hiring toward women. In signing the bill, Gov. Brown acknowledged the bill's "potential flaws" that could prove "fatal" to implementation, but nevertheless supported its passing, citing "recent events in Washington, D.C. — and beyond — make it crystal clear that many are not getting the message" around gender equality.
(Score: 2, Funny) by Anonymous Coward on Wednesday October 03 2018, @04:18PM (5 children)
Which is best for a corporate HQ?
(Score: 0) by Anonymous Coward on Wednesday October 03 2018, @04:22PM
Nevada, most definitely. No one wants to make trips to Delaware to visit their corporate HQ. Vegas? Now that's another story. Though I still use Delaware for all my shell companies.
(Score: 4, Informative) by bob_super on Wednesday October 03 2018, @06:51PM (2 children)
Panama / Costa Rica / Caiman / Bahamas / Guernsey (or Jersey next door) / Luxembourg (for EU access) ...
(Score: 2) by PinkyGigglebrain on Wednesday October 03 2018, @07:40PM (1 child)
You forgot Dubai, which has the advantage of not having an extradition treaty with the USA last I heard
"Beware those who would deny you Knowledge, For in their hearts they dream themselves your Master."
(Score: 2) by bob_super on Wednesday October 03 2018, @08:35PM
True, but in Dubai you have to ask for passports first, and only screw the slaves who got theirs taken away. Their justice is pretty swift if you seem to have slighted the true locals.
And I'll take the weather/landscapes of just any other one on my list over Dubai ...
(Score: 0, Insightful) by Anonymous Coward on Wednesday October 03 2018, @07:25PM
I oppose this law, not as a diversity issue, but seeing as it part of California's anti-business attitude. Their legislators are driving small businesses and the associated middle class out of the state.
If you can, leave the state and start a new corporation under the same name in a new state and merge the old California corporation into it. That's known as an "F reorganization".
IMO, avoid Nevada. It's on its way to becoming a "California". They raised their corporate taxes to support the marijuana smoking, Hillary supporting new residents. Given what happened in California, Nevada will just get worse.