New California Bill Mandates Women on Board of Directors

New California Legislation(Bill) mandating presence of women on board of publicly traded companies.

  • Sponsored by State Senator Hannah-Beth Jackson
  • Legislation signed by Governor Jerry Brown on September 30th
  • Initial Deadline:  December 31, 2019
  • 3 Female Directors on Boards of 6 or More
  • 2 Female Directors on Boards of 5
  • 1 Female Director on Smaller Boards
  • Final Deadline:  2022

Violations result in as much as $300,000 fines per year.

Legal Notes(according to THR report by Jonathan Handel)

  • Public Companies Incorporated in Delaware
    • State guards corporate law prerogative
    • Incorporation vs. HQ Location
  • Impairs Shareholder Rights
  • Quotas may equal Reverse-Discrimination(UCLA Law Professor Neil Wertlieb)

Compliant Companies:

  • Disney
  • Netflix

Non-Compliant Companies:

  • Apple
  • Alphabet(Google)
  • Live Nation
  • Lionsgate

Out-of-State Companies

  • CBS
  • AT&T
  • Comcast
  • Sony

Analysis/Advice

  • Precedence for Controlling Private Entities
  • Return to Privately-Held Company
  • Move State Incorporation
  • Private Business Freedoms
  • Legal Fight
  • All-Female Companies with All-Female Boards
  • Race, Sexuality, Religion

Quotes:

“With numerous independent studies showing that corporations with women on their boards are more profitable, SB 826 is a giant step forward for women, our businesses and our economy,” said Sen. Jackson in a release issued after Gov. Jerry Brown signed the legislation Sept. 30. That economic justification raises some eyebrows. “This bill is about the use of government power to obtain social change,” said Akerman law’s Jeffrey S. Horton Thomas.

“The bill has already had positive impact on companies across the country by elevating the discussion regarding the importance and benefits of diversity in the boardroom,” said Annalisa Barrett, corporate governance professor at the University of San Diego School of Business.

 

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MediaLogical Episode 9 | AT&T and Time Warner Merger (Audio)

 

Black Mirror quick season review with episode concept desciptions for human and science.

AT&T acquiring Time Warner for $85 billion, provided the purchase receives approval.  There are consequences and questions expected to arise.  Will AT&T order alteration the DC Extended Universe.

Byron Allen allowed to proceed with $10B lawsuit against Charter Communications.  If victorious in the impending suit, what could and should he do with the capital.  Start his own distribution platform, maybe?

Wonder Woman’s 75th Anniversary and her importance as a comic book icon.

The Super Debate:  Who is the Better Superman?  Henry Cavill or Tyler Hoechlin?  I answer the question while adding plenty of context.

MediaLogical discusses the psychological, technological and logistical aspects within the media industry.

Leave your thoughts is the comment section.  Follow me on Twitter:  @johnwarejunior

Barnes & Noble’s New Offering to Indie Authors

 

Barnes & Noble is now offering independent authors the ability to sell their titles in the actual stores with physical books.  In the report by Book Business Magazine, two-thirds of books purchased are tangible books with pages and a spine.

Availability will not be as widespread as the title infers.  Distribution requires endorsement from a manager of the book chain.  Positive reactions to the news is expected at this stage.  Creatives have a new outlet, but a potential increase in competition.  Amazon provided open distribution on a new and ever-growing platform.  This new opportunity for writers requires relationships coupled with quality literature.

Therefore, the new offering for ‘indie authors’ opens the door for more exposure, and obviously more money.  Take-home percentages for scribes is unknown at this time.  Implementation of the offering has yet to begin.  Structure and payouts are vital to the writers due to the financial risk this may pose.  Upfront costs with little to no returns does not make business sense for the creatives.

Biggest takeaway, Barnes & Noble brings a new option to the table that Amazon does not and cannot, at this time.  Physical books in store with a lounge section to read and congregate.  Going brick and mortar was a novel idea by the tech company after seemingly cornering the market.  Long-time bookseller, Barnes & Noble is miles ahead with having open doors and full shelves.

Once the details are released about the program, the ROI assessment begins.  Before self-publishing hit stride, authors received their royalties after the printers, distributors and publishing company.  No middle man does not mean the royalty structure changes.  Barnes acts as a direct line to distribution, but is a manufacturer, distributor and agent.

Give your thoughts on this new offering to independent authors by commenting below.  Please follow me on Twitter:  @johnwarejunior