Icahn and Deason, who together own a 15.2 percent stake in Xerox, have vigorously opposed the $6.1 billion takeover of Xerox by Fujifilm, saying the deal 'dramatically undervalues' the photocopier. In the latest from the onslaught of lawsuits and open letters against Xerox, Deason filed a lawsuit on Friday seeking to nominate directors to Xerox's board in a bid to stop the deal.
Xerox Corp has been engaged in a bitter war with two of its top investors - hedge fund managers Carl Icahn and Darwin Deason - over its deal with Japanese camera maker Fujifilm Holdings Corp. Icahn and Deason, who together own a 15.2 percent stake in Xerox, have vigorously opposed the $6.1 billion takeover of Xerox by Fujifilm, saying the deal 'dramatically undervalues' the photocopier. In the latest from the onslaught of lawsuits and open letters against Xerox, Deason filed a lawsuit on Friday seeking to nominate directors to Xerox's board in a bid to stop the deal.
(Reuters) - Xerox Corp said activist investor Darwin Deason does not have any right to nominate directors to the company's board outside of the nomination window, following his attempt to nominate a full slate of directors.
Hayon Thapaliya Forty years ago, two companies were known for aggressively recruiting minorities on college campuses: IBM and Xerox, both considered hot tech companies of that era. My senior year in college, a black sales rep from IBM encouraged me and a group of fellow black students to consider a career with the company. It offered a competitive salary and extensive training, and it could point to several minority leaders in management. When I joined the company, my branch sales manager — someone I considered a field office general — was black, as were many of my instructors. The job began my long career in the high-tech industry. Decades later, I’ve seen very little progress in minority executive employment. It seems the national conversation and media focus on the subject have resulted in minimal impact. And yet the ecosystem supporting diversity is quite large — government agencies, formal corporate diversity programs, universities, consultants, and dozens of civil rights advocacy groups. So why has change been so slow? For one thing, political rhetoric has created public tumult about the drivers of middle-class decline: globalization, technology, and immigration’s impact on U.S. jobs. Another recurring theme is an allegedly unlevel playing field for white males created by public- and private-sector diversity programs (affirmative action) to attract and promote a more diverse workforce. And the courts have weighed in on “reverse discrimination” cases, slowing the growth of diversity in some universities and companies. As a longtime African-American executive who’s skeptical of reverse-discrimination claims, I wanted to find answers to a few questions: What exactly do black employment numbers look like today? How are blacks faring in promotions? Are blacks’ gains in executive and management ranks keeping pace with gains in the professional workforce? The Numbers Detailed analysis of employment numbers can help us understand racial and gender income inequality in America. A review of white-collar employment data from the U.S. Equal Employment Opportunity Commission reveals serious gaps in income, promotional opportunities, and advancement for minorities and women of all races. An innovative model developed by the Ascend Foundation provides special insight. Using an EEOC database of employment data by race, gender, and job classification, it assesses management diversity with a ratio of minorities’ representation in management to their representation in non-managerial professional levels, a metric that Ascend calls executive parity index (EPI). EPI helps us understand how well each race and gender is being promoted up the management pipeline and, in effect, whether the corporate ecosystem has been successful in creating a more diverse workforce. By taking into account the percentages of minority employees in both management and the professional workforce, an EPI analysis is a more insightful metric than simply the percentage of executives or employees who are minorities. The Ascend Foundation’s analysis shows that white men (with an EPI of 1.81) are by far the most-represented group in management; executive parity is a ratio of 1.0. Following them are Hispanic men (1.07), white women (0.65), black men (0.63), Asian men (0.56), Hispanic women (0.49), black women (0.30), and Asian women (0.24). (The EPI numbers are bleak for many of these groups, clearly, but in this article I’m most concerned with black men and women.) There are disturbing trends in economic mobility for African-Americans nationwide. White men continue to dominate executive and managerial roles at companies with more than 100 employees. Small businesses, those with fewer than 100 employees, are not included in the EEOC database. A national review of 2015 data on white-collar employment shows: White men are 61.3% of executives nationally and 81% above parity when compared with their 33.8% representation in non-management professionals. In 1967 African-American median household income was 55% that of whites; in 2016 that number was 61%. Black men and women still represent a very low percentage of the professional white-collar workforce (less than 8%), given their overall representation in the population. A Closer Look by City We can also use the EEOC database to review how black men and women are faring in cities across the U.S., which can help identify leaders and laggards in diversity hiring. Notably, when it comes to black employment, high-tech regions Austin, Los Angeles, Boston, and the San Francisco Bay Area lag all other major cities. Recent articles have highlighted the migration of African-Americans to “New South” cities, where job opportunities are perceived to be better. Home ownership rates and entrepreneurship (self- employment) may also be higher. Professional employment data suggests that more opportunities are still required at the local city level, however. (Atlanta and Washington, DC are among the leaders in percentage of black professionals.) These low numbers aren’t entirely surprising. Corporate board commitment to and investment in diversity programs have been inconsistent. Decades of one-step-forward-two-steps-back government policies have also been ineffective. The EEOC’s policies, too, have not been enough to increase diversity. In his July 2015 testimony to the EEOC, Donald Tomaskovic-Devey, a sociology professor at UMass Amherst, commented “There is no evidence that corporate equal opportunity statements are associated with increased employee diversity.” In my opinion, EEOC oversight and enforcement of anti-discrimination laws nationally has also fallen short. There are encouraging signs: There’s a growing number of states and cities that prohibit questions about salary history on job applications, as a potential solution to wage discrimination. Nationally, there are increasing numbers of minorities in the managerial pipeline, greater public awareness of income inequality, and the emergence of the #MeToo movement. Many people, especially Millennials, agree and believe that black lives matter. And more corporations are acknowledging that they need to do better on diversity. To continue to improve, we need benchmarking of employer-reported public data to help identify corporate leaders in diversity. The Center for Employment Equity at UMass Amherst is one group that is making EEOC data easily accessible to the general public with the development of an online portal. Companies can (and should) examine their own industry performance and look for ways to improve. Further research on diversity data will help separate fact from fiction in this vitally important issue. Because despite the expansive growth of the U.S. economy over the past 40 years, diversity hiring has not kept pace. Bottom line, if racial and gender minorities think they perceive limited advancement opportunities — the so-called “glass ceiling” — they are right.
Peter Thiel and his band of libertarian-leaning Silicon Valley-types aren't the only ones scrambling to leave the Bay Area: As we've noted time and time again, staggering economic inequality is a daily fact of life in the area surrounding San Francisco - largely because rapidly growing home valuations have left couples earning as much as $500,00 a year feeling like they're being steadily priced out. And while we've previously covered the exodus of renters to low-cost states like Texas, in a report published Saturday, the East Bay Times explores an even more troubling trend: Landlords are increasingly taking the cue from their tenants and joining in the exodus. After all, with one in four US homes sold during 2017 going for more than $500,000 above their asking - particularly in hot real-estate markets like San Francisco, where buyers battling for the highest bid have begun relying on clauses that will automatically - and incrementally - raise their bids until they either emerge victorious, or reach a predetermined ceiling. For at least the last nine months, the Bay Area has led the country in the number of departing residents, as everybody who isn't a tech worker - including essential civil servants like police and fire fighters - begins to feel like a secondary servile class. One landlord said several of his tenants asked if they could move with him when he announced he was selling the building and departing for Colorado Tony Hicks moved to San Jose in 1981, but he’s had enough. Hicks told his 11 tenants he would soon place the three homes he owns on the market. He expected disappointment. Instead, most wanted to move with him to Colorado. "It didn’t take them long," Hicks said. "I was surprised." Hicks first bonded with many of his tenants over their shared appreciation for conservative politics in an environment that is openly hostile to views that don't conform to the dominant neoliberal ideology. "I’ve been thinking about this for a long time," said Dan Harvey, 60, a retiree in one of Hicks’ rentals who is concerned about the traffic he fights on his Harley Davidson and the high cost of living. "A fresh start." Rising prices, high taxes and his suspicion that the next big earthquake is just a few tremors away convinced the retired engineer to put his South San Jose properties up for sale. The groundswell to leave Silicon Valley — the place of fortunes, world-changing tech and $2,500 a-month-garage apartments — has been building. For at least the last nine months, the San Francisco metro area has led the nation in the number of residents moving out, according to a survey by online brokerage Redfin. San Jose real estate agent Sandy Jamison has seen many long-time residents and natives leave the state recently. The lack of available housing, leading to some of the priciest real estate in the country, is driving many from the region, she said. The landlord and tenants came together through Hick’s rental ads on Craigslist and in the newspaper over the last two decades. They grew close with common bonds of conservative politics, religious faith and motorcycles. It’s an unlikely collection of 10 men and one woman — a retired engineer, a few military veterans, blue collar workers and others on fixed incomes. Few say they could afford to go it alone in the sky-high housing market in San Jose, where a typical two bedroom rents for about $2,500 a month, far more than what they pay Hicks. Most of the men are divorced, widowed or never married, and many suffer from health ailments and a crankiness exacerbated by Bay Area traffic, crowding and the state’s liberal policies on crime and immigration. Hicks, 58, was an engineer and marketing executive at IBM, Xerox and other companies before retiring in his early 40s to raise his daughter from his first marriage. ... He bought a few investment properties in South San Jose, and looked for long-term returns when he sold them. He kept rents low — between $500 to $1,200 a month for one bedroom — and never raised prices once a tenant signed a lease. Many of his tenants have been with him for more than a decade. "We became brothers," said Mike Leyva. The 64-year-old Army veteran and retiree signed a lease in 2004 and never left. And Hicks and his compatriots aren't alone - not by a long shot: A five-county poll conducted for the Silicon Valley Leadership Group and the East Bay Times found that more than one-third of Bay Area apartment renters and one-quarter of residents in their 20s and 30s say they are struggling to afford their housing. Many longtime residents also describe a feeling of alienation that seemed to accompany the tech boom. According to one real estate agent, the top reasons people leave the Bay Area are as follows: high taxes, cost of living, quality of life from traffic to homelessness, politics and high housing prices. For many long-time residents, she said, "they feel like they don’t belong here any more." For Hicks, lofty real estate valuations were the last incentive he needed. In recent years, Hicks began to believe there was a better life outside the valley. Vaulting real estate prices added incentive. He kept up on tax laws that could maximize the returns on his property. Selling his San Jose rental houses and buying new properties with the proceeds would allow him to defer taxes. “It’s a great financial move,” he said. Hicks was also moved by discussions with his pastor and sermons at his church, the Vietnamese Living Word Community Church, about Biblical journeys. His spiritual beliefs guided him to his decision to move with his new wife, Fidessa, 31, and her 8-year-old daughter. Cautiously, he broke the news to his friends. "I was totally shocked," Leyva said. "I thought he was joking me. I had a lot of questions about it." The tenants who are accompanying Hicks expect to save hundreds of dollars a month in rent when they relocated to Colorado... QUOTE Levya spent two days researching the move and became convinced. He expects to slash his rent from $1,200 to about $800 a month, with more room in a newer home bought by Hicks. “I’m excited,” Leyva said. “It’s going to be a new journey in my life.” Ed Blomgren, 70, pays $495 a month for one bedroom and a shared bathroom. The retired machinist, a Navy veteran, lives on a fixed income and couldn’t afford market-rate rent. Blomgren grew up in Colorado, and he welcomes a chance to return to his home state, where he still has family. "At my age," he said, "I think it might be a good thing." After he finishes selling off his portfolio of Bay Area propterties, Hicks expects to get a much bigger bang for his buck when he buys a new home in Colorado. The median home value in Colorado Springs is $263,000, compared with $1 million for a single family home in San Jose, according to real estate website Zillow. Hicks' plan, as it stands, is to sell all three homes and buy a half-dozen newer, bigger and cheaper homes in the smaller, mountain town that's home to the US Air Force Academy. Within a day of listing his Raposa Court home, Hicks had two offers in hand that - like most sales in the area - were well above his $1 million asking price...
Эту книгу советует Алан Кей. Он часто говорит фразу «Компьютерная революция еще не случилась.» Но компьютерная революция началась. Точнее — ее начали. Ее начали определенные люди, с определенными ценностями и у них было видение, задумки, план. Исходя из каких предпосылок революционеры создали план? По каким причинам? Куда они замыслили вести человечество? На каком этапе мы сейчас? (За перевод спасибо Oxoron, кто хочет помочь с переводом — пишите в личку или на почту [email protected]) Читать и сохранить в избранное
Solid global sales growth, cost management supported by tax reform benefit drive Avis Budget Group's (CAR) fourth-quarter results.
Subscribe to POLITICO Money on Apple Podcasts here. | Subscribe via Stitcher here.NEW YORK — Sallie Krawcheck has some ideas for why the testosterone-fueled world of Wall Street has not yet had a #MeToo moment. It could be the multimillion-dollar settlements requiring that women don’t talk about sexual harassment allegations. Or the arbitration agreements requiring Wall Street workers to settle disputes in-house. Perhaps some of the worst abuses got drummed out in the 1980s. Or maybe there is a floodgate still waiting to open. “We haven’t seen as much of it come forward out of Wall Street, and there are a bunch of hypotheses as to why,” Krawcheck, a former top executive at Citigroup and Bank of America and now CEO of women-centered investment platform Ellevest, said in the latest edition of the POLITICO Money podcast. “There have been more reporters who have called me and asked, ‘OK, who is the Harvey Weinstein of Wall Street?’ If I knew it, I’d tell you. It could be that we will have that moment, that someone’s been waiting.” Krawcheck began her Wall Street career at Salomon Brothers before going on to become CEO of research firm Sanford C. Bernstein. She ran the brokerage firm Smith Barney and served as chief financial officer at Citigroup and later ran brokerage operations at Merrill Lynch after its acquisition by Bank of America during the financial crisis. Along the way, she says, she dealt with regular sexual harassment. “It was bad,” she said. “I was young. I would show up every day and see Xeroxed copies of male genitalia on my desk. I’d lean over a desk and there would be laughter and somebody behind me pretending to perform a sex act.”Krawcheck said she doesn’t believe Wall Street has improved its leadership structure much since the financial crisis. There are still no female CEOs of big Wall Street banks and few women in top leadership positions. “Post the financial crisis, you would have thought that diversity would have increased. After all, it was the white gentlemen who were in power when the financial crisis occurred,” she said. “Wouldn’t you want to try something different? No, the opposite occurred. The industry has been less diverse over the past few years than it was during the financial crisis.”And she suggested that lack of diversity increases the risk of another financial crisis. “As a society, we have this perception that women are emotional,” she said. “The research, however, tells us that on trading floors that poor risk rises and falls with testosterone levels, and these trading floors are 85 percent, 90 percent male and these gentlemen tend under periods of stress to show off for each other. That’s dangerous.” When launching Ellevest, Krawcheck said she had the difficulties of hiring financial advisers “man-splained” to her by a Silicon Valley venture capitalist. “I’m like, ‘Dude, I’m sorry, I ran Smith Barney and Merrill Lynch. I’ve managed more financial advisers than anybody except maybe one person on the whole planet and actually did a pretty good job of it, and here you are instructing me on how to do it?’” She said diversifying Wall Street’s senior ranks is not simply a matter of political correctness. “It’s not gender diversity for the sake of gender or diversity of skin color or educational background,” she said. “It’s really driving toward cognitive diversity. What you really want in a leadership team is not eight people who think exactly alike.”