Shorting stock in Lucent and Spherion when Andrea Russo and Cinda Hallman respectively took over didn't net quite as much but there was nevertheless a fair amount of money to be made.
It's happening again. This time more or less the whole Oslo Stock Exchange is prime for selling stock short:
No shit it's historic and radical. Blatant quotas like this are illegal in countries like the United States. Can't say the law would look too favorably on governments threatening to dissolve their own companies should they not accept quotas in a further plethora of countries either.
Firms face quota deadline
Norway's center-left government has issued a warning to 140 companies that still don't have enough women on their boards of directors: Appoint more, or be dissolved.
Companies organized as "ASA" corporations are required to meet a state-mandated quota that calls for 40 percent of their directors to be women.
The quota was ushered in during the previous center-right government coalition, and has been enthusiastically embraced by the current Labour Party-led government.
Equality minister Karita Bekkemellem told newspaper Aftenposten on Friday that those companies failing to meet the quota will face involuntary dissolution from January 1.
Many are within traditionally male-oriented branches like the offshore oil industry, shipping and finance.
Among the firms targeted on Bekkemellem's list are some fairly large companies including Det Norske Oljeselskap ASA, securities firm Carnegie ASA, Awilco Offshore and Frontier Drilling. Some of the stocklisted companies have no women at all on their boards of directors, including DNO, Ocean Rig, PetroJack and Teco Maritime.
"My advice to them is that they take responsibility and find the women they need," she said. She called the law "historic and radical," and said it will be enforced.
Funny that it's the offshore oil industry that isn't complying with this quota considering that a great way to get out of having to comply is by moving the company offshore so it doesn't have to deal with the retarded, feminized Norwegian government.
At any rate it just goes to show how massive fans feminists are of democracy considering how they like to impose quotas on otherwise democratic processes such as exactly who shareholders of corporations are allowed to elect to the board.
The other fact it makes obvious is that women can't get onto boards of companies on the basis of market forces such as merit and need affirmative action to get into these positions. Nevermind that men who could do the job better can (and will) be pushed aside to make way for women who are not as capable because the quota needs to be met. Nevermind that even if the woman does a substandard job in the position, the quota still needs to be filled so companies would be even more apprehensive about removing her from the board than they already are about removing board members; the government dissolves the company if they don't meet the quota.
Sounds economically efficient to me.
The Norwegian government has been threatening to dissolve companies who don't meet this quota for a while. Take this article from September last year:
In July 1 last year 359 companies were non-complaint with this quota system. Fifteen and a half months later, with two and a half months until the deadline, 140 companies are still non-compliant. That's about 23 companies meeting the quota per month.
Since the Norwegian government first issued its mandate, things have improved. The number of companies in compliance has risen from 17.5% to 29.6%. Still, the country’s companies need to get cracking. Nearly 33% of public companies don’t have a single woman board member. And as of July 1, only 151 of 510 firms on the OSE meet the 40% representation rule.
First of all, that is quite a large number of unwanted female hires in a short space of time. Exactly how many of the women appointed in that sort of hurry are going to be as capable as original board members?
Second of all at this rate around 72 companies aren't going to make the deadline and will face dissolution.
I don't suppose that matters to feminists though considering they think money grows on trees.
Apparently the word for discrimination in Norwegian translates to egalitarianism in English. An egalitarian policy means equal rights under the law and equal opportunity. An imposed quota system is neither; that would be described as equal OUTCOME.
Those numbers don’t sit well in a country renowned for its progressive policies and its pursuit of egalitarianism.
Uh huh. People are elected to boards of directors of companies straight out of university. No need for things like years of experience in the business, or a proven track record of obtaining results in the company. You know, things which might make shareholders consider someone a decent candidate for the board of directors and elect them voluntarily.
But could compliance with the new law spawn tokenism? It shouldn't. Oie points out that more women than men pursue advanced degrees in Norway so there’s no shortage of smart, well trained women. In fact, says Slungard, women now outnumber men at the prestigious Norwegian University of Science and Technology in Trondheim.
I don't suppose the fact that there are more women than men getting advanced degrees or attending certain universities in Norway has anything to do with discrimination against men in their education system (like in the rest of the western world) does it? Are we going to see quotas on male enrollments in university by any chance seeing as this sort of situation is considered discriminatory if taking place on company boards? Nope. Never mind that the reason this is the situation with their education system is probably due to feminist affirmative action initiatives rather than merit or academic potential. It's used as 'proof' that women should be taking up more positions after they graduate as well.
Shitheads. Suffice it to say, I will be selling OSE listed stock short preferably to female buyers. They can quite literally put their money where their mouth is for a change. As for Norway - they're fucked.