The pipeline isn't the problem

Bloomberg Equality
Bloomberg

With companies pledging to get more Black people into high paying and powerful jobs, the old "pipeline problem" is making the rounds again. 

In a June memo that was publicized this week, Wells Fargo & Co. Chief Executive Officer Charlie Scharf said that the bank faced "a very limited pool of Black talent" for top jobs. His comments drew widespread criticism, especially from Black employees, who don't see that as the issue. He apologized on Wednesday as executives and activists called out that straw-man argument.

"The reality is there are talented people out there," Procter & Gamble Chief Brand Officer Marc Pritchard said at the Bloomberg Equality Summit on Wednesday. "There are talented Black people, brown people and Asian people." Another speaker, Kewsong Lee of the Carlyle Group, said that his company has not had an issue finding diverse talent. The myth of the "pipeline problem" for investors was busted as well: Executives from SoftBank and Goldman Sachs said at the summit that there are plenty of minority-owned businesses to buy into. —Philip Gray

Did you see this? 

A Kentucky grand jury chose not to file murder charges Wednesday against any of the police officers involved in the killing of Breonna Taylor, a 26-year-old Black woman. Anger erupted in cities across the U.S. as demonstrators took to the streets, where some protests turned violent. 

White supremacists are the top terrorist threat in the U.S., according to President Donald Trump's nominee to lead the Department of Homeland Security. 

How Ruth Bader Ginsburg, the U.S. Supreme Court justice who died last week at age 87, went from equality trailblazer to #NotoriousRBG

As the pandemic hit the U.S., revenue fell the most for small businesses that served affluent Americans.

Cosmetics companies like Sephora and Estée Lauder Cos. have committed to "buy Black," but for small businesses a deluge of demand can be fatal, Bloomberg Businessweek reports. 

The hot trend for holiday toys is social justice chic.

We love charts

Despite economic theories forecasting that capitalism would reward diversity, White men still dominate top jobs. Here's how the Diversity and Inclusion movement drifted and failed.

Selling safety with female taxi drivers

Almost all taxi drivers around the world are men, but some entrepreneurs see demand for female drivers. "I want women to know that there's an option," said Nina Mizrahi, who drives a cab in northern Israel. "A taxi is a very intimate place. ... Many women don't feel comfortable." Ventures in Kenya, Egypt, India and Brazil aim to connect passengers with female drivers, reports Bloomberg Businessweek. The flexible hours can be helpful for women who are juggling family obligations, but casual work has its downsides too, like fewer benefits and protections against sex discrimination.

 

Like the Bloomberg Equality newsletter? Subscribe to Bloomberg.com. You'll get our unmatched global news coverage and two premium daily newsletters, The Bloomberg Open and The Bloomberg Close, and much, much more. See our limited-time introductory offer.

Wake up with the biggest stories in global politics and the 2020 campaign: Balance of Power, which arrives in your inbox every morning, breaks down the latest political news, analysis, charts and dispatches from Bloomberg reporters all over the world. Sign up here.

Download the Bloomberg app: It's available for iOS and Android.

Before it's here, it's on the Bloomberg Terminal. Find out more about how the Terminal delivers information and analysis that financial professionals can't find anywhere else. Learn more.

 

Comments

Popular posts from this blog

Mulan DID NOT make $250 million and the future of film releases

एनसीबी के डिप्टी डायरेक्टर केपीएस मल्होत्रा बोला- मीडिया में झूठी खबर चल रही, हम खंडन जारी कर रहे हैं

सुशांत के मैनेजर रहे सिद्धार्थ पिठानी ने किया खंडन, 13 जून की रात सुशांत से नहीं मिली थीं रिया चक्रवर्ती