News For You - August 2003

We have developed this page to give our visitors the opportunity to see what's new, at a glance, in the business world and how it relates to our program. Take a moment to browse and see what's of interest to you!

Woman-Owned Family Businesses Nearly Twice As Productive As Male Counterparts

Woman-owned family businesses are not only a growing segment of the U.S. economy, they are also on average more productive than those run by men, are a decade younger, and are more likely to be a “good corporate citizen”. Female owners also tend to pay greater attention to leadership succession. Those are among the results issued today in a newly published report – Women in Family-Owned Businesses – sponsored by Mass Mutual Financial Group and Babson College. The new, complete study is available at www.babson.edu/cwl

(Source: P.R. Newswire, August 26, 2003)
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Equal Employment Opportunity Commission (EEOC) Investigates Law Firm

The EEOC investigated Boies Schiller & Flexner, the Armonk, New York law firm founded by David Boies, one of the nation’s most prominent attorneys, and found the firm discriminated against female employees. The investigation concluded that the firm’s two-tier system (partner and non-partner tracks) “is not applied uniformly, resulting in discrimination against a class of female associate attorneys.”

(Source: The Wall Street Journal, August 12, 2003)
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Even Top Executives Could Use Mentors to Benefit Careers

Seeking guidance from mentors both inside and outside the firm is essential even for senior executives. Unfortunately, inside the company, informal advisers are scarce high in the hierarchy. The best mentors may be the boss, CEO or even board members. Outside the firm, confidential support groups can provide valuable information and insights. A former boss with strong industry ties can also be a valuable on-going mentor.

(Source The Wall Street Journal, July 1, 2003)

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Japan’s Neglected Resource: Female Workers

While 40% of Japanese women work outside the home, they hold only about 9% of managerial positions, compared with about 45% in the United States, 30% in Britain and Sweden and 27% in Germany. Japanese women’s wages are about 65% of those of their male counterparts, one of the largest gaps in the industrial world.

(Source: The New York Times, July 25, 2003)
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