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

Disney and Netflix Become Exclusive

 

Disney and Netflix have signed an exclusive paid television broadcast deal.  This September, Netflix will have access to stream all Disney content on its platform.  That includes the big franchises:  Disney’s animated features, Marvel Entertainment and Star Wars.  Netflix already produces and features the Marvel series Daredevil, Jessica Jones and with more adult superhero content to come.  Previous seasons of Marvel’s Agents of S.H.I.E.L.D. and Agent Carter are currently available for streaming as well.

In other news, actress Robin Wright of the Netflix Original Series House of Cards ‘found her steel’ by demanding equal pay to that of co-star and onscreen spouse Kevin Spacey (President Francis Underwood).  The result of the ask was a ‘yes’.  She guaranteed to walk away from the critically-acclaimed series if her paycheck did not match that of Spacey’s.

Wright’s Claire Underwood is as much a presence on the show as FU’s.  Her performances and onscreen chemistry with Spacey at this point makes her just as valuable to the show.  This is a big win for advocates of equal pay across genders in the film and television industry.

Share your thoughts in the comment section or tweet them to @johnwarejunior on Twitter.