thependulumswings

While one eye was looking at CNBC early this morning the other was fixated on the coffee being brewed to get it fully open.  And suddenly there it was.  Breaking news delivered to you by none other than Andrew Ross Sorkin.    The news was enough to get the other eye open even without the much-needed caffeine.

In bold font, it rolled.  Nasdaq will require boards to have at least one woman and one director who self-identifies as an underrepresented minority or L.G.B.T.Q.

Sorkin read on, “Companies that don’t disclose diversity information face potential delisting, while those that report their data but don’t meet the standards will have to publicly explain why.”  Cancel culture?

And he read on, “Nasdaq lobbied the S.E.C. to make diversity disclosure a rule for all companies. “The ideal outcome would be for the S.E.C. to take a role here,” said Adena Friedman, Nasdaq’s C.E.O.  Or,  she could have said, “let’s get big brother to make it so!”

“Nasdaq cites research showing the benefits of board diversity, from higher-quality financial disclosures to the lower likelihood of audit problems.”  In other words, men cheat, but when women or minorities are present they are less inclined to do so.

This was all quoted from this morning’s New York Times.

Do you know who was the lead writer recognized in the byline for the story?  Andrew Ross Sorkin.

So, to recap, an avowed liberal writer of a left-leaning paper, delivered breaking news on a left-leaning CNBC and quoted his own story in doing so.

And, to further recap, a public company that profits from every trade

that the public makes on its exchange of listed public companies wants to dictate how their boards are constructed.

Does it at all smell like another public company named Twitter deciding what is right for the public to read or not to read?  Well, it doesn’t smell like the freshly brewed coffee that is still sitting there as we type.

Is it a coincidence that this breaks just less than a month after the Biden election?  Much like the “let’s impeach Trump”  bellows less than a month after his election, the left is on offense yet again.  They always are.

And, to quote many a late-night infomercial, “but wait, there’s more!”

Not only would it be the first time a major stock exchange demanded more disclosure than the law requires, which Ms. Friedman described as “an unusual step.” It raises questions about whether exchanges could use their listing rules to force action on other hot-button issues, like climate change.

And there it is!

In the selling world you can always ask for two “orders” hoping to get one.

Make no mistake about it the left is always selling.  They’re quite good at it.

And more than ever before they have major organizations in the media, and now in the previously free marketplace, carrying their PowerPoint presentation and samples for them.

My oh my, how the business climate has indeed changed.