This falls under the category of “There is No Premium on Ignorance.”
Recently the Illinois House of Representatives voted to force companies in Illinois to include at least one female and one black American on their board of directors.
Adding insult to injury, if the bill becomes law it will fine companies $300,000 for non-compliance.
This gives new meaning to the word “STOOPID.”
What happened to the shareholders right to vote in board members?
Plain and simple it’s another power grab for the desperate/ bankrupt government in Illinois.
The Illinois Senate added their two cents by saying Latinos should be on the list of who must be represented on all board of directors.
(Wait! What about Native Americans, disabled, or LGBTQ types? Someone will surely scream “racism” for neglecting them).
Here’s what’s really disturbing.
The bill clearly states that the boards need a woman or anyone who identifies as a woman.
Let that sink in for a moment.
Ironically (or not) they don’t give a proper definition of black.
Is half, a quarter, or 1/1024th black okay?
This is reminiscent of the Nazi-like obsession with somebody’s bloodline.
In the 1930s, Nazis (with an Aryan heritage) had a privileged status.
So, now Illinois is saying they’re comfortable basing privilege on African bloodlines.
Don’t forget, companies have constitutions that provide for a certain number of directors who can only be removed by the shareholders.
This horrible bill says that the govt can simply dictate that a company can break a contract with its’ shareholders.
It says that a company can simply create more board seats.
This is a very dangerous precedent by some government goon’s hell bent on catering to special interest groups.
It didn’t work out well for Hitler and it won’t work out well for corporate America.
Read more about it in our June issue of “…In Plain English.”
It’ll help you prepare for the upcoming turbulent times.