Greeting blogpickers from rainy San Francisco! Today’s Link deals with the ever present issue of discrimination in the workplace, but with a twist.
ExxonMobil have long ranked at the bottom of the equality charts as you will see in the link. Now the Securities and Exchange Commission has stepped in and blocked EM from trying to get a shareholder resolution kicked off the ballot that would require them to have gender and sexuality provisions in their policies.
Why, I hear you cry? Because various state pension funds invest in their stocks and those states have clauses that require the people they do business with to not discriminate. EM wants to still discriminate but also wants the investor cash. The SEC is basically saying that you can’t have it both ways. Good for them! It will be interesting to see how this plays out.
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