![]() |   | Periodic editorials concerning everything from the very worst industryfrom an annual report standpoint, that isto what's wrong with the Fourth Estate. Reporters who can't hit an accuracy with a cannon. |
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'Will It Play in Peoria?'an old, old vaudeville line
Peoria bills itself "The heart of the heartland," equidistant between Chicago and St. Louis, according to the city's website. It's home, among other things, to Bradley University. It is, Peoria's website proclaims, "a full-fledged city, complete with towering, gleaming buildings, rising from the banks of the Illinois River." Population in 2000: 112,936 in the "metro area." The state's Tri-County, which includes Peoria, is overwhelmingly white: 84.4%, most of the remainder comprised of blacks (13.6%). It's home to the famous farm-machinery manufacturer Caterpillar, Inc. The Cat 1991 annual report pictured directors in a group shot. A year later, our first year to take companies to task for being seen to exclude women and minorities from their board, as pictured, Caterpillar again showed its board. Surprise: not comprised solely of white-bread males (WBMs). In its 1993 report, the Cat pictured directors individually, as advocated, and, again, the board was seen properly up to date. No annual a year later. The last one submitted was for 1995, seven years ago. Directors weren't shown. Peoria is home not only to Caterpillar, but RLI Corp., a specialty insurance company that bills itself as an "equal opportunity employer." RLI lists on its website seven "independent" directors, all male. (Its governance guidelines say certain acts are triggered "when a director (singular) changes their (plural) occupation.") I began monitoring boards comprised solely of white-bread males among the 1992 crop of reports worldwide. Forty-one percent of the one in four (24.5%) to picture directorstwo in five boardswere seen to be lily-white, and male. A year later, of the one in four to picture directors, a lesser 35%just over one in threewas seen to be lily-white. The following two years1994 and '95 reportsWBMs comprised 29% of the 28.1% and 29.3%, respectively, to picture directors. That declined to 26% among '96s (of the one in three to picture board members), 'way off to 17% a year later (of the 38.9% to show the board). A year later? Back up to 21%, one in five, of the 35.5% to show board members. Even worseone in four WBMsamong '99s, when 37.7% showed directors in the annual report. Off among 2000s to one in five (20%) of the 31.3% to show directors. Last year: One in six (16.1%) of the 37.3% of boards pictured were seen to exclude women and minorities. So far this year: 25%one in fourwent the white-bread male route (among the 33.3% to picture directors). Back to the pride of Peoria: First report sent us by RLI Corp., for 1994, was an also-ran, its score but 95 points. No director photos published. A year later, its '95 report again an also-ran. Its directors were seen to be naught but members of the Old Boys' Clubwhite-bread males. ...As in its 1996 report ...its '97 ...and its '98. Since then, it has not run photos of directorsnot in its 1999, 2000 or 2001 reports. Each, though, has scored 134 points, with a 91.7% Cato Positive Index. (At least it's consistent.) Since the directors named currently on its website all bear male names, it's safe to assume RLI continues to exclude women from the board, certainly, if not minorities still. Again, one in four early-arriving annuals for 2002published by companies on a fiscal-year basisis backward enough to flaunt an all-white-male board of directors. Say what you will about RLI, at least it's not stupid. Got a board comprised solely of members of the Old Boys' Club? Hey, just tell folks, "Heck, we're not prejudiced; you can't get good people of color, or of the majority gender. Shucks, gosh all mighty, ain't all our wives little women?" Do you buy that? Maybe the populace does in Peoria, but certainly not the enlightened. (Editor's note: Should RLI respond to this, I'd be thrilled to present its side of the story. Also, I'd be delighted to sit here with egg all over my face, were RLI to diversify its board beyond staunch defenders of the white man. Don't hold your breath.) |
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