With the 2020 Presidential Election just around the corner, voting paraphernalia, media campaigns, and the like are hard to avoid. Now, Corporate America is jumping on the voting bandwagon. Some companies, like designer fashion brand Tory Burch, are donating proceeds from limited-edition “VOTE” branded merchandise to get-out-the-vote programs. (Kate Kelly and Sapna Maheshwari, New York Times). Restaurant chain Shake Shack is giving away free French fries to all customers that vote early.
Read MoreIt is impossible to ignore the protests and social justice initiatives surrounding the Black Lives Matter movement spanning the country, recently surpassing 100 consecutive days of protests. (Patience Womack & Tosca Ruotolo, The Daily Barometer). In light of national demands for racial justice, the California state legislature introduced Assembly Bill 979 (“Diversity Bill”) aimed at increasing corporate diversity. In short, the Diversity Bill requires corporations that have nine or more Board of Directors to include at least three minority members by the end of 2022. (Saijel Kishan, Bloomberg). Additionally, California’s Secretary of State will be required to publish annual board diversity reports evaluating corporate progress and compliance. Id. In 2018, California enacted a similar gender equity law, S.B. 826, 2017-18 Gen. Assemb., Reg. Sess. (Ca. 2018), requiring publicly held companies with a board of four or less to have at least one female director. (Women on Boards, California Secretary of State). Though the 2018 bill is widely criticized, its results are undeniable, increasing representation and corporate accountability. (See generally California Secretary of State, March 2020 Women on Boards Report).
Read MoreAs the COVID-19 pandemic reached the U.S. in early March, millions of American workers were furloughed or laid off, leaving many without a reliable income. (Kathryn Vasel, CNN Business). Unemployment in the U.S. rose to 17.8 million in June 2020, an almost 8% increase since February. (The Employment Situation, U.S. Dept. of Labor). Economists estimate unemployment could reach 32.1% in the second quarter of 2020, surpassing the Great Depression’s 24.9% peak. (Chris Morris, Fortune). Despite thousands of American workers struggling to pay their bills, Chief Executive Officers (“CEOs”) remain largely untouched. (Anders Melin, Bloomberg Law).
Read MoreFollowing years of negotiations and various roadblocks, the Sprint and T-Mobile merger cleared its last big hurdle in federal court last month. (Laurel Wamsley, NPR) The “mega-merger” was announced in April 2018 but faced immediate backlash. The attorney generals of New York, California, the District of Columbia, and ten other states protested the potential merger as an anti-competitive practice. (Laurel Wamsley, NPR) The states argued the reduction of carriers in the telecom market creates less market competition, limits fair and free choice for consumers, and harms workers in this industry. (Id.)
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In the booming era of blockchain, Facebook’s Libra Association markets itself as an “independent, not-for-profit, membership organization, headquartered in Geneva, Switzerland” aiming to increase access to the global financial system and services. (Libra.org). In a world where 1.7 billion adults don’t have adequate access to the global financial system, Libra’s cryptocurrency claims it has the answer. (Id.) Through distributed network governance, open internet access, and cryptography security, cryptocurrencies aim to increase accessibility to financial services. (Id.) Yet, the volatility and value fluctuation of existing cryptocurrencies has hindered their adoption by the mainstream market. (Id.)
Read MorePhone carrier giants Sprint and T-Mobile announced an unprecedented merger in the spring of 2018. The merger would create a $146 billion powerhouse company under the T-Mobile name. (Taylor Soper, GeekWire). As of now, T-Mobile and Sprint are the third and fourth-largest carriers in the U.S., just behind AT&T and Verizon. Id. However, the Department of Justice (DOJ) initially wasn’t sold and filed suit to block the merger. (U.S. D.O.J. Compl. 3. July 26, 2019). A deal of this size raises fair market and antitrust concerns for both the D.O.J. and Federal Communications Commission (F.C.C.) and is dependent on the regulators’ approval. (Taylor Soper, GeekWire).
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