Jump to content
To change color scheme, click on themes at bottom of page ×
RightNation.US
Sign in to follow this  
Martin

Morgan Stanley Diversity Chief Sues Over Racial Bias

Rate this topic

Recommended Posts

Martin

 

Morgan Stanley's former head of diversity sues bank for discrimination

BY STEPHEN GANDEL

https://www.cbsnews.com/news/mogan-stanley-sued-discrimination-lawsuit-marilyn-booker/

The former head of diversity at Morgan Stanley is suing the firm and two of its top executives, including CEO James Gorman, for racial and gender discrimination.  According to the lawsuit, which was filed on Tuesday, Marilyn Booker was fired in December after pushing for a plan that she said would help promote career advancement for Morgan Stanley's Black employees. The suit alleges that Booker's firing reflects a pattern of widespread discrimination against Black and female employees at the investment bank.

The complaint alleges a number of instances in which Booker, who worked at Morgan Stanley for 26 years and who is Black, said she faced discrimination. In one such instance, the professional credit and financial reward for bringing in a new client recruited by Booker and a fellow Black employee was allegedly given to a White colleague. According to the suit, Booker identified a number of Black candidates for positions at the firm who were never hired and without her superiors offering an explanation. What's more, Booker's budget to promote diversity at the firm was regularly cut, the suit claims.

+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++

It is no news that a company gets sued by a plaintiff alleging racial discrimination.  It is a bit unusual, though, to be sued for racial discrimination by the black woman you hired to be your chief diversity officer.  Wasn't her race and sex supposed to fend off discrimination lawsuits instead of filing one?  Didn't she know she was a token when Morgan Stanley gave her the job?

Four years ago, Morgan Stanley was honored as the Diversity Corporation of the Year by the National Business Inclusion Consortium and the National Gay and Lesbian Chamber of Commerce.  I don't know whether an award like that represents anything or whether it is a participation trophy, but no doubt Morgan Stanley's PR flacks shouted it to the heavens. 

Among other companies whom the Consortium honored for their achievements in diversity was Wells Fargo.  And, do you know what else Wells Fargo was doing in 2016?  They were creating millions of fictitious accounts in their customers' names, a practice which so far has cost their shareholders $3 billion in penalties and restitution.  Wells Fargo had and still has an Enterprise Diversity and Inclusion Council, which meets quarterly to "partner with the Operating Committee to establish goals and set direction in the areas of team member diversity and inclusion..."

I don't know how they choose members of their Diversity and Inclusion Council, but I understand a former Morgan Stanley diversity chief, Marilyn Booker, has become available.

Share this post


Link to post
Share on other sites
moocow

Ah, it must be good to be a big business in America.  You have so much money (of the stockholder's) to waste, that you can hire frivolous, useless executive positions that do nothing but tell employees what a good job they are doing hiring people based on their skin color, whom they have sex with, etc.

  • Agree (+1) 3

Share this post


Link to post
Share on other sites
Specs
32 minutes ago, Martin said:

 

Morgan Stanley's former head of diversity sues bank for discrimination

BY STEPHEN GANDEL

https://www.cbsnews.com/news/mogan-stanley-sued-discrimination-lawsuit-marilyn-booker/

The former head of diversity at Morgan Stanley is suing the firm and two of its top executives, including CEO James Gorman, for racial and gender discrimination.  According to the lawsuit, which was filed on Tuesday, Marilyn Booker was fired in December after pushing for a plan that she said would help promote career advancement for Morgan Stanley's Black employees. The suit alleges that Booker's firing reflects a pattern of widespread discrimination against Black and female employees at the investment bank.

The complaint alleges a number of instances in which Booker, who worked at Morgan Stanley for 26 years and who is Black, said she faced discrimination. In one such instance, the professional credit and financial reward for bringing in a new client recruited by Booker and a fellow Black employee was allegedly given to a White colleague. According to the suit, Booker identified a number of Black candidates for positions at the firm who were never hired and without her superiors offering an explanation. What's more, Booker's budget to promote diversity at the firm was regularly cut, the suit claims.

+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++

It is no news that a company gets sued by a plaintiff alleging racial discrimination.  It is a bit unusual, though, to be sued for racial discrimination by the black woman you hired to be your chief diversity officer.  Wasn't her race and sex supposed to fend off discrimination lawsuits instead of filing one?  Didn't she know she was a token when Morgan Stanley gave her the job?

Four years ago, Morgan Stanley was honored as the Diversity Corporation of the Year by the National Business Inclusion Consortium and the National Gay and Lesbian Chamber of Commerce.  I don't know whether an award like that represents anything or whether it is a participation trophy, but no doubt Morgan Stanley's PR flacks shouted it to the heavens. 

Among other companies whom the Consortium honored for their achievements in diversity was Wells Fargo.  And, do you know what else Wells Fargo was doing in 2016?  They were creating millions of fictitious accounts in their customers' names, a practice which so far has cost their shareholders $3 billion in penalties and restitution.  Wells Fargo had and still has an Enterprise Diversity and Inclusion Council, which meets quarterly to "partner with the Operating Committee to establish goals and set direction in the areas of team member diversity and inclusion..."

I don't know how they choose members of their Diversity and Inclusion Council, but I understand a former Morgan Stanley diversity chief, Marilyn Booker, has become available.

If I had such a position, I definitely would not hire someone that sucked so bad at it that they were fired for not doing the job properly and then sued their last employer.

  • Agree (+1) 2

Share this post


Link to post
Share on other sites
Martin
Posted (edited)
15 minutes ago, Specs said:

If I had such a position, I definitely would not hire someone that sucked so bad at it that they were fired for not doing the job properly and then sued their last employer.

Racist!  Sexist!  Homophobe!  Throw him in the basket of deplorables!  I'm calling my lawyer!

Edited by Martin
incomplete
  • Haha (+1) 3

Share this post


Link to post
Share on other sites
Martin

According to the Wash Post of last December, "diversity and inclusion" are beginning to fade as buzzwords, displaced by "belonging."

Move over, “diversity.” Make room, “inclusion.”  Today, the hot corporate buzzword in the diversity field is “belonging.”  The word is popping up everywhere. LinkedIn, Nordstrom, HubSpot, DoorDash and other companies all now have executives with job titles such as manager of “diversity, inclusion and belonging” or vice president of “global culture, belonging and people growth.”  

Earlier this year, the University of Pennsylvania’s Wharton School hosted its first lecture panel focused on the topic. Harvard and Yale have also been getting in on the idea, hiring faculty or staff with “belonging” in their titles after launching related task forces or campuswide initiatives.  The latest lingo — most prevalent among Silicon Valley companies — reflects millennial and Gen Z employees’ expectations about work, diversity experts say, as well as the impression that other concepts haven’t made enough progress retaining diverse employees.

I wonder whether diversicrats like Marilyn Booker realize that the days of "diversity and inclusion" are numbered, displaced by yet more gaseous nomenclature.  It won't belong now.

  • Agree (+1) 1

Share this post


Link to post
Share on other sites
moocow
12 minutes ago, Martin said:

According to the Wash Post of last December, "diversity and inclusion" are beginning to fade as buzzwords, displaced by "belonging."

Move over, “diversity.” Make room, “inclusion.”  Today, the hot corporate buzzword in the diversity field is “belonging.”  The word is popping up everywhere. LinkedIn, Nordstrom, HubSpot, DoorDash and other companies all now have executives with job titles such as manager of “diversity, inclusion and belonging” or vice president of “global culture, belonging and people growth.”  

Earlier this year, the University of Pennsylvania’s Wharton School hosted its first lecture panel focused on the topic. Harvard and Yale have also been getting in on the idea, hiring faculty or staff with “belonging” in their titles after launching related task forces or campuswide initiatives.  The latest lingo — most prevalent among Silicon Valley companies — reflects millennial and Gen Z employees’ expectations about work, diversity experts say, as well as the impression that other concepts haven’t made enough progress retaining diverse employees.

I wonder whether diversicrats like Marilyn Booker realize that the days of "diversity and inclusion" are numbered, displaced by yet more gaseous nomenclature.  It won't belong now.

The thing I worry is you’ll get the new executive director of “belonging”, but also stuck with the old executive director “diversity”. These things seem to keep growing like a cancer. 
 

Anytime I hear someone introduced as director/manager of (or their topic title includes)  diversity, inclusion, etc. I always think, “hold on, I need to get out the hip waders. I’m going to be waist deep in BS”. 

  • Agree (+1) 3

Share this post


Link to post
Share on other sites
Skipjack

So, everything this woman references involves black employees, black clients, black bonuses, black representation, black career advancement, black etc.  Where the hell is the 'diversity' in that? Could be she could use a little diversity training herself.

  • Best Post (+1) 1
  • Agree (+1) 3

Share this post


Link to post
Share on other sites
Specs
44 minutes ago, Martin said:

Racist!  Sexist!  Homophobe!  Throw him in the basket of deplorables!  I'm calling my lawyer!

lol I have been called worse!

 

Someone once said they thought I was a democRAT!

  • Haha (+1) 1

Share this post


Link to post
Share on other sites
Dean Adam Smithee
3 hours ago, Specs said:

If I had such a position, I definitely would not hire someone that sucked so bad at it that they were fired for not doing the job properly and then sued their last employer.

What sucks is that, these days, unless a future employer happens to stumble across this article, they'll likely NEVER know. HR Departments these days RARELY give bad references... even if the former employee was fired on the spot whilst being frog-marched out of the building by the locate SWAT team for committing multiple violent felonies on the job.

 

 

  • Agree (+1) 2

Share this post


Link to post
Share on other sites
Specs
2 hours ago, Dean Adam Smithee said:

What sucks is that, these days, unless a future employer happens to stumble across this article, they'll likely NEVER know. HR Departments these days RARELY give bad references... even if the former employee was fired on the spot whilst being frog-marched out of the building by the locate SWAT team for committing multiple violent felonies on the job.

 

 

That is very true, I know many companies that I have worked with in a consulting position have employed strategies to research potential new hires. Of course, those are not always the best way and things still get through the cracks. 

Share this post


Link to post
Share on other sites
JerryL
2 hours ago, Dean Adam Smithee said:

What sucks is that, these days, unless a future employer happens to stumble across this article, they'll likely NEVER know. HR Departments these days RARELY give bad references... even if the former employee was fired on the spot whilst being frog-marched out of the building by the locate SWAT team for committing multiple violent felonies on the job.

 

 

Death by faint praise.  I can give a glowing recommendation that will guarantee that the applicant in question will not get the job.  

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
Sign in to follow this  

  • Recently Browsing   0 members

    No registered users viewing this page.

×
×
  • Create New...