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The ascent of Ms. Mayer and women like Meg Whitman at Hewlett-Packard, Virginia Rometty at I.B.M. and Sheryl Sandberg at Facebook contrasts sharply with the continuing misfortunes of many women on Wall Street.
In the spring, when JPMorgan Chase disclosed a $3 billion trading loss (which has since climbed to an estimated $5.8 billion), Ina R. Drew, the head of the bank’s chief investment office, became the first casualty. Ms. Drew resigned immediately and is now expected to lose the equivalent of two years’ compensation, an estimated $30 million, for her involvement in the fiasco.
Her departure followed unceremonious exits last year by female executives on Wall Street, where the scarcity of women in top positions has become a bitter symbol of the low status women hold in U.S. corporate life. JPMorgan Chase lost Heidi Miller, the former head of the bank’s international operations, and at Bank of America, Sallie Krawcheck, who ran the company’s wealth management division, also left. Zoe Cruz, another high-profile Wall Street executive and former co-head of Morgan Stanley, was ousted in 2007.
The figures tell an alarming story. Women make up more than half of the work force in the financial industry but are chief executives at fewer than 3 percent of U.S. financial companies, according to Catalyst, a New York-based global research and consulting nonprofit focused on women’s career advancement.
The ranks of America’s poor are on track to climb to levels unseen in nearly half a century, erasing gains from the war on poverty in the 1960s amid a weak economy and fraying government safety net.
Census figures for 2011 will be released this fall in the critical weeks ahead of the November elections.
The Associated Press surveyed more than a dozen economists, think tanks and academics, both nonpartisan and those with known liberal or conservative leanings, and found a broad consensus: The official poverty rate will rise from 15.1 percent in 2010, climbing as high as 15.7 percent. Several predicted a more modest gain, but even a 0.1 percentage point increase would put poverty at the highest level since 1965.
Poverty is spreading at record levels across many groups, from underemployed workers and suburban families to the poorest poor. More discouraged workers are giving up on the job market, leaving them vulnerable as unemployment aid begins to run out. Suburbs are seeing increases in poverty, including in such political battlegrounds as Colorado, Florida and Nevada, where voters are coping with a new norm of living hand to mouth.
In 1983, Sally Ride became the first American woman in space. She blasted off aboard Challenger, culminating a long journey that started in 1977 when the Ph.D. candidate answered an ad seeking astronauts for NASA missions.
According to her official biography, by the time Ride decided to apply to become an astronaut, she had already received degrees in physics and English and was on her way to a Ph.D. in physics from Stanford University.
The Arizona Republic reports that opponents of Arizona's controversial immigration law, Senate Bill 1070, are using dozens of e-mails sent by Russell Pearce over the past six years to allege that the law was racially motivated and that the former senator and sponsor of the legislation fabricated data to persuade the Legislature and Gov. Jan Brewer to support it.
The American Civil Liberties Union of Arizona acquired thousands of Pearce e-mails through a public-records request and included dozens of them in a legal motion to block a portion of the law.
The U.S. Supreme Court ruled last month in a lawsuit filed by the U.S. Department of Justice that the part of the law that requires law-enforcement officers to ask about a person's legal status in certain situations does not conflict with federal authority. Lower courts could issue a ruling on how and when that goes into effect as soon as today.
The e-mails from Pearce in the court documents include statements such as: "Can we maintain our social fabric as a nation with Spanish fighting English for dominance? ... It's like importing leper colonies and hope we don't catch leprosy. It's like importing thousands of Islamic jihadists and hope they adapt to the American Dream."
They also include unsupported statistics such as "9,000 people killed every year by illegal aliens," and "the illegal aliens in the United States have a crime rate that's two-and-a-half times that of non-illegal aliens."
It’s shaping up to be a record-breaking year for women running for office, reports National Journal’s Hotline (behind paywall).
According to figures collected by Rutgers's Center for American Women and Politics, fully 296 women filed to run for the House this year, shattering the previous record (262) set in 2010. And with primaries in 19 states still to come, plus a few runoffs, 113 women have already won their party's nomination and advanced to Nov.
The record for women nominees in one year is 141, set in 2004. That could fall, too; for one thing, there are still 11 more female incumbents with token primaries ahead. Already, almost as many Dem women have won nominations (85) as in 2004 (88), though the GOP is lagging a bit. Still, local or nat'l GOPers tapped women as their marquee candidates in a number of upcoming primaries, including MI-11 (Nancy Cassis, the local establishment's pick as a write-in nominee), MO-02 (Ann Wagner), and AZ-02 (Martha McSally), among others.
One other record to consider is the number of women serving in the House, which is 76. There are 75 currently serving and 6 aren't running for reelection, while another 9 could be considered in some degree of electoral peril. But not all will lose or be replaced by men, and both parties have female nominees poised to capture male-held seats, like GOPer Walorski (IN-02) and Dem Duckworth (IL-08), to name just two.
Japan's world champion women's football team took exception to flying economy while their male counterparts sat in business class on a flight to Europe for the Olympics. The Japan Football Association said the men flew in business because they are professionals.
The women's team was assigned seats in premium economy for the 13-hour flight to Paris while the nation's under-23 men's team was up front on the same flight.
"It should have been the other way around," 2011 FIFA women's world player of the year Homare Sawa told Japanese media after arriving in the French capital. "Even just in terms of age we are senior."
Basketball Australia says it will review its travel policy for national teams after complaints that the men flew business class to the Olympics while most of the women sat in premium economy.
The women's team is by far the most successful of the two, having won silver medals at the last three Olympics. The men, who will be led in London by San Antonio Spurs point guard Patty Mills, have never won an Olympic medal.
A study published in the journal Organization Science finds that when managers have to explain their pay-raise decisions to employees, they tend to give more money to men than they do to women -- even if the workers' performance is equal.
A new study in the journal Organization Science finds that when managers have to explain their pay-raise decisions to employees, they give more money to men than they do to women -- even if the workers' performance is equal.
In the study, originally done for Emory University, 184 managers were given a set amount of money that they needed to distribute among employees with identical skills and responsibilities. Half of the managers were told they would need to justify their decisions to their employees, and half were told there would be no discussion afterwards.
Unfortunately, women can't overcome an initially low raise by negotiating because the corporate budget has already been spent. In many companies, each manager receives a budget for raises that is then divided among employees. All workers are notified at the same time (or over a very short time period) of their increases. Because every penny has already been allotted, there is no money left to give to someone who questions a small raise. Managers won't typically go to an employee with a higher raise and say, "Oops! Jane needs a few more bucks, so we're taking a percent off your raise and giving it to her!"
The only way a raise can go through at this point is for an exception to be granted. And that requires a lot of hard work on the part of the manager and (most likely) the manager's manager. HR and senior management must be convinced that this additional raise, outside of the spent budget, is worth the money. And managers, who are cognizant of their own reputation, will try to do this without stating that they made a mistake in allocating raise money.
To summarize: A paper published in Communication, Culture and Critique examining the sports-watching habits of 19 women concluded that one reason women's sports are still struggling to gain an audience is that women don't have as much time to spend on sports as men, mostly because they're busy running the vacuum under their husbands' feet as they watch the game. When the interviewed women do watch sports, it's in the context of "family time," which means, unsurprisingly, that the teams they watch are the husbands' favorites. In short, women are still deeply unequal on the domestic front. I know, I'm surprised too.
The problem really started with reporting in the Los Angeles Times that took this rather feminist study and skewed it so that it read more like a click-happy reaffirmation of the sexist belief that women's disinterest in sports is the result of something being wrong with women, and not with society or sports culture. The headline ("Wives Watch Sports for Husband's Sake, Study Reports") and the initial paragraphs paint a picture of women pretending to like sports to impress men, which in turn triggered pre-existing audience stereotypes about how women are too stupid to know what a "down" is. It wasn't until paragraph seven that the writer, Monte Morin, got around to discussing how the study wasn't actually about women only pretending to like sports, and was in fact more about how women don't have the time nor really the interpersonal power to be the dominant sports fans in their households. Even then, Morin downplayed the actual conclusions to play up a narrative of women who are so invested in man-pleasing we'll be bored silly for hours pretending to care about those sports that are too complex for our lady brains to grasp.
When the comedian Daniel Tosh reportedly singled out a woman in his audience and suggested, according to a blog post that recounted the incident, it would be "funny" if she "got raped by, like, five guys, right now," the online reaction was swift, heated and often split down gender lines. Many men wanted to explain free speech or heckling etiquette. Many women (and virtually all feminists) said these topics were distractions, at best, from the sheer offensiveness of Tosh's attack.
Quite a few of the women who shared our post said they were doing so in hopes that a husband or boyfriend would "finally understand why I won't watch Tosh's show with him." Some even tagged their husbands or boyfriends, to be sure the message would reach its destination.
But this wasn't just any excited mom-to-be. This was 37-year-old Marissa Mayer, the newly named CEO of Yahoo – obviously a huge achievement for anyone, but especially for a woman in the male-dominated tech industry. And she was about six months pregnant, to boot.
Exciting news – especially for Mayer and her husband, of course – but did it mean something for the rest of us, too? Was it a watershed moment in the perennial debate over whether women can "have it all," with the pendulum swinging happily in the positive direction?
Or was it, as some claimed in the inevitable back-and-forth on Twitter, actually a development that would increase pressure on other working moms, who might not have nearly the resources that Mayer does, in terms of wealth, power, talent and flexibility on the job?
Or was it even sexist to raise the question at all? Would anyone be saying anything if the new Yahoo CEO were an expectant father? No, went a frequent online thread: No one would even pay attention to that.