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Increasing Law Department Diversity
  + stars: | 2023-05-01 | by ( Michelle Graham | Practical Law | ) www.reuters.com   time to read: +17 min
Create a law department DEI committee consisting of diverse law department employees to:evaluate the law department’s DEI status; develop a plan and a budget to increase or maintain law department diversity; and monitor and promote the success of the law department’s DEI initiatives. Incentivize law department employees to refer diverse candidates for job openings by paying them a referral bonus if the law department hires those candidates. Retaining Diverse Law Department EmployeesWhile recruiting and hiring diverse employees for the law department requires continuous effort, retaining them once hired presents another challenge. Discuss initiatives the law department has taken to increase and maintain DEI in the law department, such as creating a DEI hiring committee. (For more on how law departments can improve DEI at their outside law firms, see Increasing Law Firm Diversity and Increasing Law Firm Diversity: Presentation Materials on Practical Law; for general guidance on working with outside counsel, see Working Effectively with Outside Counsel Checklist on Practical Law.)
Future-Proofing the Board of Directors
  + stars: | 2023-05-01 | by ( ) www.reuters.com   time to read: +29 min
Governance structures and practices should position the board to provide objective judgment and active oversight supported by board leadership, which is separate from and independent of company management. The board should design governance structures and practices that support it in determining board priorities, agendas, and information needs. The board should create governance structures and practices that ensure that directors are competent, committed, and diverse and that board and committee composition align with the company’s changing needs. Developing and supporting a positive and ethical corporate culture (see Corporate and Board Culture below). Corporate and Board CultureA strong board and corporate culture is imperative for a company’s success.
Monte dei Paschi (MPS), of which the government owns 64% following a 2017 bailout, is seen playing a pivotal role in the consolidation expected among Italy's mid-sized lenders. After failing to clinch a sale of MPS to UniCredit (CRDI.MI) in 2021, the government is expected to seek another bank interested in buying its stake in the Tuscan lender. The government has just decided to renew Luigi Lovaglio's mandate as MPS chief executive for another term. We confirmed Lovaglio at the helm of Monte dei Paschi, the CEO successfully led the last capital increase, and now we must work to bring Monte back to the private market," Meloni said. "The government will not intervene, it is alert to check that there are no situations that jeopardise the national interest," Meloni told the newspaper.
KT Thornton, Taco Bell's chief of equity, inclusion, and belonging, said she felt "fully embraced." Equity, inclusion, and belonging is a term we use across our entire Yum system. And I'm going to push and I'm going to challenge. What are you most worried about in terms of diversity, equity, inclusion, and belonging in corporate America? One of the things I've seen in just the space of equity, inclusion, and belonging is it's often posed as this journey.
Layoffs and fights over employees' work-from-home desires are challenging HR pros in new ways. Insider put out a call for talent heads navigating the changing norms around workplace culture. Meanwhile, many employees and the corporate leaders who oversee them are engaged in a tug-of-war over work-from-home policies. We asked questions about how standout HR leaders are navigating economic uncertainty, how they're supporting efforts around diversity, equity, and inclusion, and how they might be reimagining work. Listed in alphabetical order based on last name, here are 14 HR leaders making waves.
Italy's No.2 bank UniCredit was preparing an offer for number three Banco BPM in 2022, before the Ukraine conflict forced CEO Andrea Orcel to focus on its Russia exposure. Orcel had looked to move on Banco BPM soon after becoming UniCredit CEO two years ago, but instead entered talks with the government over a possible Monte dei Paschi (BMPS.MI) acquisition that eventually fell through. Fondazione CRT holds 1.9% of UniCredit and 1.8% of Banco BPM. Twenty years later that gap is still there so the strategic value of the deal remains". Born from the merger of BPM with Verona-based Banco Popolare, Banco BPM controls 12% of Lombardy's banking market, twice UniCredit's market share.
LONDON, April 18 (Reuters) - The European Union set out draft reforms to rules for closing down failing banks on Tuesday. The original rules were introduced after the 2007-09 global financial crisis when taxpayers had to bail out lenders. This has often involved public money and the EU reform seeks to make it easier to apply its resolution rules to all sizes of banks to minimise taxpayer involvement. PRECAUTIONARY CAPITALItaly injected 5.4 billion euros ($5.9 billion) of state aid into Monte dei Paschi di Siena in 2017 under the precautionary capital mechanism, helping to circumvent resolution rules. DEPOSIT GUARANTEE POTThe proposals make it easier for regulators to use cash from industry-funded deposit guarantee schemes in a bank that has gone bust.
The Louisiana GOP wants to prohibit the study of racism at state colleges and universities. A GOP resolution, seen by NOLA.com, claimed the "inglorious aspects" of American history were too divisive. It comes amid a nationwide GOP effort to scrub race issues from public schools and public life. GOP Party officials in the state want Louisiana lawmakers to prohibit the study of racism at colleges and universities, claiming the "inglorious aspects" of American history are too divisive, according to NOLA.com, which cites a GOP resolution on the matter. According to NOLA.com, the GOP resolution argued that "DEI bureaucracies" act as "divisive ideological commissariats," criticizing programs at LSU and the University of Louisiana System.
Pocket-sized Pearl is the world's shortest dog
  + stars: | 2023-04-12 | by ( Lianne Kolirin | ) edition.cnn.com   time to read: +2 min
The two-year-old chihuahua, who measures around the same length as a dollar bill, has been named the world’s shortest dog by Guinness World Records. Born in Florida on September 1 2020, Pearl is shorter than a Popsicle stick at just 3.59 inches tall. Pearl is related to previous record holder Miracle Milly, who measured 3.8 inches tall. Pearl’s mother is one of Milly’s identical sisters, according to Guinness World Records. Guinness World RecordsPearl was recently unveiled on “Lo Show Dei Record,” Guinness’ TV talent show in Italy.
DEI executive Netta Jenkins says women typically overlook their 401(k) match or family care benefits. Jenkins adds that women of color are less likely to trust HR and speak openly about their benefits. Here are three workplace benefits that Jenkins says women often overlook — and how to take advantage of them. Expense reimbursementsJenkins adds that expense reimbursements, like the cost of parking or travel, can cause friction for women in the workplace — especially women of color. Some women of color care for both.
Anonymous informers have always been a hallmark of totalitarian regimes. Friends, neighbors and even family members are encouraged to inform on those who speak against the regime. This is effective social control: Nowhere is safe to discuss politics, and everyday life is subdued. To this day, when Cubans want to discuss something sensitive, they go into their bathrooms, let the water flow and whisper. They have been setting up their own systems of anonymous informers.
Kwasi Mitchell, Deloitte's chief purpose officer, says he's driven, not overwhelmed, by his job. As Deloitte's first chief purpose officer, his reach across corporate America is great. I had a conversation with my boss at that time, and he said, "We've heard you with respect to your concerns on not wanting to step into this role right now. Not only were we not worried about D&I efforts being cut, organizations didn't have significant D&I programming to cut to begin with. That person that you just hired two years ago should not be the first person to exit your organization.
Here are Wednesday's biggest calls on Wall Street: Bank of America reiterates Disney as buy Bank of America said Disney remains "best-in-class." Piper Sandler reiterates Apple as overweight Piper said its survey checks show Apple is still a top pick for teens. Bank of America upgrades Livent to buy from neutral Bank of America said the lithium company's "value proposition" has increased. " Wedbush upgrades Dutch Bros to outperform from neutral Wedbush upgraded the coffee chain and said it sees more upside. Bank of America reiterates Apple as buy Bank of America raised its price target on Apple to $168 per share from $158 and said it sees iPhone trends stabilizing.
The Other Stanford DEI Scandal
  + stars: | 2023-04-03 | by ( Betsy Devos | ) www.wsj.com   time to read: 1 min
What happened to Judge Kyle Duncan at Stanford University was repulsive and unacceptable, and the staff who aided and abetted it—most notably DEI dean Tirien Steinbach—should be fired. This isn’t the only scandal on that campus worthy of attention and outrage. The school also faces a criminal case of false sexual-assault accusations. Both instances were complicated by the incessant buildup of nonteaching bureaucrats. Stanford now employs more administrators than it enrolls undergrads—focused on an agenda, not education.
First, Boorstin will speak with tech venture capitalists Freada Kapor Klein and Mitch Kapor, founding partners of Kapor Capital Partners and the authors of "Closing the Equity Gap," published by Harper Business. Through Kapor Capital, they invest in entrepreneurs whose products and services aim to close social and economic equity gaps while building successful businesses. Boorstin will also speak with them about the current economic environment and what can be done to mitigate the impact on fundraising for minority founders. Allison Whalen is the co-founder and CEO of Parentaly, which works with companies to administer parental leave programs. Hear from these change-makers who are delivering social and economic returns, building successful companies, and sharing key insights they've learned along the way.
DEI at Law Schools Could Bring Down America
  + stars: | 2023-03-29 | by ( Tunku Varadarajan | ) www.wsj.com   time to read: 1 min
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Macy's CEO Jeff Gennette will retire in February, the company announced on Wednesday. Tony Spring will take his place and continue shifting Macy's strategy based on consumer changes. Here's how Macy's "Polaris Strategy" is preparing the brand for the future. A shift in supply chain proceduresJeff Gennette spoke about the future of Macy's. Astrid Stawiarz/Getty ImagesThe supply chain has been a pain point for many businesses over the last three years.
The Military Should Reject DEI and CRT
  + stars: | 2023-03-26 | by ( Patrick H. Brady | Mike Waltz | ) www.wsj.com   time to read: 1 min
The U.S. military faces a self-inflicted threat to its preparedness to deter, fight and win wars. An essential, battle-tested element of military culture—colorblindness—is being undermined. Unless the trend is reversed, our national security will be at increased risk. The reversal could be done at no cost, requiring only a policy decision and the reorientation of relevant training. In the Army and Marines, sayings such as “We’re all green” or “We all bleed red” were part of training that transformed millions of diverse civilians into war fighters.
MILAN, March 25 (Reuters) - Italy's Treasury said it would confirm Luigi Lovaglio as chief executive of Monte dei Paschi di Siena , keeping the veteran banker in charge of the bank as turmoil shakes the industry. Monte dei Paschi (MPS) is due to appoint a new board of directors on April 20 and the Treasury, which owns 64% of MPS following a 2017 bailout, on Saturday said it had filed its slate of nominees for the board. He arrived at MPS just over a year ago, when the Treasury pushed out his predecessor. A merger also remains the preferred option of banking supervisors to buttress MPS' fragile profitability, a second source said. A failed attempt to sell MPS to UniCredit has forced Italy to seek more time from the EU to cut its stake.
MILAN, March 25 (Reuters) - Italy's Treasury is set to hand veteran banker Luigi Lovaglio a new mandate as chief executive of state-owned lender Monte dei Paschi di Siena , two people with knowledge of the matter said. Lovaglio, who built his career at UniCredit (CRDI.MI) where he eventually rose to lead the group's former Polish unit Bank Pekao, arrived at Monte dei Paschi (MPS) just over a year ago, when the Treasury pushed out his predecessor. The state owns 64% of MPS following a 2017 bailout. Lovaglio, one of Italy's most experienced commercial bankers, in November oversaw a make-or-break 2.5 billion euro ($2.7 billion) capital raise which allowed MPS to bolster capital and fund voluntary layoffs. ($1 = 0.9295 euros)Reporting by Valentina Za and Valentina Za; Editing by Michael PerryOur Standards: The Thomson Reuters Trust Principles.
Amazon's HR chief formally rejected an internal petition asking Amazon to reverse its return-to-office policy. Read the full text of Galetti's message to employees below. The petition, which was shared with CEO Andy Jassy's leadership team last week according to Galetti's note, was signed by roughly 30,000 employees. Employees shared messages of disappointment on the company's Slack channel following Galetti's announcement. Read the full text of Galetti's message below:Hello all –Andy's team shared your note last week, and I wanted to take a moment to follow up directly.
Top HR executive Beth Galettie denied an internal petition asking Amazon to reverse its new return-to-office policy. Roughly 30,000 Amazon employees signed the petition protesting the new RTO mandate. Amazon's top HR executive formally rejected an internal petition put forth by roughly 30,000 employees over the company's new return-to-office policy. Galetti's message was in response to an internal petition signed by roughly 30,000 Amazon employees that followed the RTO mandate announcement last month. In the petition, Amazon employees argued, citing research, that remote work improved productivity, recruitment, work/life balance, inclusion efforts and reduced corporate expenses.
Google will be focusing on efficiency this year "given the economic environment," engineering senior vice president Urs Hölzle told technical infrastructure teams. Additionally, the team will aim to use automation to reduce the ratio of site reliability engineers to software engineers to less than 5%. Site reliability engineers manage the operations of Google's systems and keep them running, while software engineers work on developing Google's infrastructure and products. Besides efficiency, Google's technical infrastructure teams plan to focus on reliability, infrastructure innovation, security of infrastructure and data, climate and sustainability, and effectiveness. Below are more details on what Google's technical infrastructure teams plan to focus on:Theme #1: EfficiencyHölzle said that the team should focus on technical efficiency.
The Tyranny of the DEI Bureaucracy
  + stars: | 2023-03-18 | by ( The Editorial Board | ) www.wsj.com   time to read: 1 min
Critical race theory is becoming institutionalized across American universities, and a major reason is the educational bureaucracy. Most universities now have offices for diversity, equity and inclusion, or DEI, that exercise a broad writ on campus and act as speech police within the university. That power was on ugly display last week at Stanford Law School, where a mob of law students shouted down Fifth Circuit Court of Appeals Judge Kyle Duncan in a spectacle unfit for any institution of higher learning. (Judge Duncan relates his experience nearby.)
Italy's Treasury sets up new department for state-run companies
  + stars: | 2023-03-16 | by ( ) www.reuters.com   time to read: +2 min
ROME, March 16 (Reuters) - Italy approved on Thursday a decree to create a new department at the economy ministry in charge of managing state-controlling companies such as energy groups Enel (ENEI.MI) and Eni . Economy Minister Giancarlo Giorgetti announced the scheme in January as part of efforts to tighten the government's grip on key companies dealing with some of the most delicate corporate issues facing Italy. Under the scheme, the influential Treasury department within the ministry, led by veteran economist Riccardo Barbieri, will continue to supervise public debt management, macroeconomic policies, European and international relations as well as financial regulation. The newly created "economic department" will have its own director general and will handle the decision-making process regarding state-controlled firms, public assets and public guarantees on banking loans. Rome is expected to decide on the chairperson and CEO positions of these firms by the end of next week, government sources said.
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