Wednesday, September 29, 2010
Tuesday, September 28, 2010
Monday, September 27, 2010
Thursday, September 23, 2010
"Building on President Clinton's lifetime in public service, the Clinton Global Initiative (CGI) reflects his belief that governments need collaboration from the private sector, non-governmental organizations, and other global leaders to effectively confront the world’s most pressing problems. After attending thousands of meetings during his career in which urgent needs were discussed but no action was taken to solve them, President Clinton saw a need to establish a new kind of meeting with an emphasis on results."
I considered attending this year but just could not make it happen. Thankfully so many of the women I know and deeply respect are there representing the gender related issues I care so passionately about. In particular my dear friend and the most fabulous Lisa Witter, author of "The She Spot" was the leader in convening a WHISPER ROOM to talk about the following:
• jobs/economic development
• leadership/women as decision makers
• a million “new” opportunities for women that might be a catch-all for a number of different issues.
The need to invest in women and girls is front and center at this gathering as it is now broadly accepted that they hold the key to economic growth and security for all. There were many sessions where a gender lens was applied, as well as this dedicated plenary to "Empowering Women and Girls" featuring Secretary of State Hilary Clinton. ( click here to watch )
Here is a list of what this incredible initiative has accomplished.
Last but not least. Jennifer Buffet, President of the NOVO Foundation is an amazing philanthropist and I am honored to call, a personal friend. NOVO "seeks to foster a transformation in global society from a culture of domination and exploitation to collaboration and partnership, empowering women and girls as the primary agents of change." I think they are the largest foundation dedicated to women and girls and they do incredible work.
Just released at CGI is this brand new GIRL EFFECT Video. If you have not seen it - click here.
Saturday, September 18, 2010
Friday, September 17, 2010
I have much to say on this topic. So much. Bloomberg asked me to write something for them and here it is. I have received many incredible emails in response to it, from men in particular. Many men have shared with me their frustrations in trying to hire, retain and promote women. Further they point to the institutional challenges that exist and must be addressed if we are to move forward. I have written many times in this space how I think diversity efforts have largely failed, and I will write more on that topic.
Wednesday, September 15, 2010
National Class Action Lawsuit in Federal Court Charges Violations of Federal and Local Civil Rights Laws
NEW YORK -- September 15, 2010
Goldman Sachs has engaged in systemic and pervasive discrimination against its female professional employees, a lawsuit filed today in federal court in New York alleges.
The lawsuit, Chen-Oster v. Goldman Sachs, Inc., Case No. 10-6950 (S.D.N.Y.), filed by three highly-credentialed women represented by Outten & Golden LLP and Lieff, Cabraser, Heimann & Bernstein, LLP, accuses Goldman Sachs, a leading global investment banking, securities and investment management firm, of engaging in a pattern and practice of gender discrimination against its female Associates, Vice Presidents, and Managing Directors. The women allege violations of federal and city laws, including Title VII of the Civil Rights Act of 1964 and the New York City Human Rights Law.
The case is pending before United States District Court Judge Leonard Sand.
According to the complaint, the ``violations of [Goldman Sachs'] female employees' rights are systemic, are based upon company-wide policies and practices, and are the result of unchecked gender bias that pervades Goldman Sachs' corporate culture. They have not been isolated or exceptional incidents, but rather the regular and predictable result of Goldman Sachs' company-wide policies and practices.''
``The gender-equality issues raised by this lawsuit are all too familiar – Goldman Sachs systematically undervalues the efforts and achievements of its female employees. This is an important step in our efforts to eradicate discrimination within the financial-services industry,'' said plaintiffs' attorney Adam T. Klein of Outten & Golden LLP of New York, New York.
``This case challenges Goldman Sachs' practice of treating its talented female professionals like disposable, second class citizens,'' said plaintiffs' attorney Kelly M. Dermody of Lieff, Cabraser, Heimann & Bernstein, LLP of San Francisco, California. “By coming forward, the plaintiffs are working to ensure a level playing field across Wall Street.”
The complaint charges that, among other things, Goldman Sachs compensates its female professionals less than similar male professionals, disproportionately promotes men over equally or more qualified women, and offers better business opportunities and professional support to its male professionals.
Attorneys Adam T. Klein, Cara E. Greene, and Jennifer Liu of
Outten & Golden LLP and Kelly M. Dermody, Anne Shaver, and Heather Wong of Lieff Cabraser Heimann and Bernstein LLP represent the plaintiffs.
The case is Chen-Oster v. Goldman Sachs, Inc., Case No. 10-6950 (S.D.N.Y.).
So where do I stand on this as a former GS partner ( trader ), an executive who worked in human capital management for two years with a focus on diversity, compensation, lateral hiring, succession planning, performance measurement and more? I am working on that entry................. more soon.