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Dramatic increase in LGBTQ-supportive companies on Nasdaq: report

Out Leadership survey shows 50% have inclusive board policies

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Todd Sears (Photo courtesy of Sears)

A gay-owned organization called Out Leadership that advises corporations in the U.S. and abroad on how to adopt LGBTQ-supportive policies has released a report showing that the number of companies trading on the Nasdaq Stock Market that have adopted such policies for their boards of directors increased 1,556 percent from 2022 to 2023.

The actual number of companies trading on the Nasdaq that have adopted LGBTQ-supportive policies for their boards increased from 113 in 2022 to 1,871 in 2023, which the report describes as “astonishing.”

Todd Sears, founder and CEO of Out Leadership, called the report “a clear indicator that executives are responding to the opportunity to expand the diversity of their boards, and fully embracing the power of inclusion to fuel their companies’ success in today’s marketplace.”

In a statement released at the time the report was released on April 19, Sears added, “We’re proud to share today’s global report, which shows that for the first time in history, over half of all Nasdaq companies have adopted board diversity policies – and done so at a record-breaking pace.”

He concluded by saying, “We look forward to working with the other exchanges and companies around the world to continue this exciting momentum.”

An announcement by Out Leadership, which Sears launched in 2010, says the report showing the dramatic increase in LGBTQ supportive corporate board policies was its third annual report on this subject, called “LGBTQ+ Board Diversity: Progress & Possibility.” The announcement says the report was prepared by one of Out Leadership’s projects called OutQUORUM.

The report includes these findings:

• 50% of Nasdaq companies now have LGBTQ-inclusive board policies – a record-shattering 1,556% increase in one year (113 in 2022, compared to 1,871 in 2023).

• 61% of Nasdaq companies now have gender-inclusive board diversity policies, a 206% increase since 2022 (750 in 2022 compared to 2,298 in 2023).

• 59% (2,197) of Nasdaq companies now have inclusive board policies based on race, a 318% increase since 2022 (526). 

• The 2023 OutQUORUM report also shares for the first time data on LGBTQ board inclusion across the global stock exchanges of the FTSE, the ASX, and the Hang Seng.

Sears told the Washington Blade that corporate boards are important because the CEO of a company reports to the company’s board.

“They are responsible for the governance of the company itself,” he said. “They cannot do day-to-day hiring decisions,” he told the Blade. “But they are responsible for setting the strategy for the company and holding the CEO and the CEO’s leadership team accountable for the success of the company.”

He said his Out Leadership company is known as a Certified B corporation. The company’s website provides details of what it does, including projects it pursues in other countries as well as in the U.S.

“A global LGBT+ business advocacy membership company advocating LGBT+ equality by creating positive economic and societal impact through the power of business,” the Out Leadership website describes its mission as including.

“Our network of nearly 98 multinational companies and 450+ CEOs entrust us to leverage their platforms for social change while working alongside policymakers to publicly advocate for LGBT+ equality in order to positively impact the economy and their bottom lines, employees, customers, partners, and community,” it says.

Sears said many of Out Leadership’s 98 member companies, including Wal-Mart, Microsoft, IBM, and Coca-Cola, are publicly traded on the New York Stock Exchange, which is the world’s largest stock exchange. He noted that Nasdaq follows closely behind the New York Stock Exchange as the second largest stock exchange.

But Sears said Out Leadership has not yet had any official interactions with the New York Stock Exchange itself.

“As it relates to board diversity requirements, in contrast to the Nasdaq new rules, the NYSE has taken an approach that ‘advocates diversity’ without either suggesting new disclosure requirements or recommending diversity goals,” Sears told the Blade in a statement.

“It is worth noting that nowhere in NYSE’s public discussions about diversity is LGBTQ mentioned or included in any definition,” he said. “They only speak about diversity in vague terms of gender and ‘diversity,’” Sears said.

Sears has been credited with being among the first to emerge from within the corporate world to advocate full-time for LGBTQ supportive policies among businesses large and small.

He describes himself as a “recovering banker” and a “bit of a serial entrepreneur” who started his career in the investment banking industry in 1996 as an analyst in New York with Schroders, the British multinational asset management company.

From there, according to his LinkedIn page, he served from 1999 to 2001 as vice president of business development for DeSilva & Phillips, an investment bank focusing on media, technology, and marketing industries, before joining Merrill Lynch, the internationally known investment management and wealth management division of Bank of America, where he became Head of Strategic Initiatives at the firm’s Office of Diversity during his close to seven years there.

Finally, before launching Out Leadership, Sears served just over two years with Credit Suisse, a global investment bank and financial services firm founded and based in Switzerland with offices in major financial centers around the world, including in New York City.

Sears makes no apologies for launching Out Leadership as a for-profit corporation with a business model of advocating for LGBTQ equality in business and beyond. He notes that, among other things, Out Leadership helped arrange for 65 business leaders to speak out against a proposed anti-LGBTQ law in North Carolina five years ago and helped line up 60 Wall Street banks to sign an amicus court brief in support of the Obergefell marriage equality case before the U.S. Supreme Court.

“My philosophy is every place in the world these companies do business, LGBT people should be protected, respected, and legal,” Sears told the Blade. “We are still illegal in 67 countries. But in all of those countries our companies do business,” he said.

“And so, the goal of our leadership is to use that kind of power that these companies have to roll back all 67 sodomy laws around the world as well as all the anti-trans laws obviously that we’re seeing here in the U.S.,” he said. “The idea is that the economic power that these companies have is in my opinion how we will also win equality.”

The Out Leadership report on the Nasdaq company LGBTQ policies can be viewed here.

Further information on Out Leadership’s work can be accessed here.

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Real Estate

Under-the-radar Delaware beach towns smart buyers are targeting

There are other options if Rehoboth prices are scaring you off

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If you want to escape the crowds and nightlife scene of Rehoboth Beach, Sussex County offers plenty of options. (Blade file photo by Daniel Truitt)

Look, we love Rehoboth. We will always love Rehoboth. Queer folks have been flocking there since the 1940s, and with scores of LGBTQ-owned businesses and a Pride calendar packed tighter than the boardwalk in July, “Rehomo” earned its crown fair and square.

But let’s be honest with each other: trying to buy property there right now feels a lot like trying to get a reservation at the one good restaurant in town on a Saturday in August. Everyone wants in, inventory is tighter than your swim trunks after Labor Day brunch, and the prices have officially entered “are you kidding me” territory.

So here’s a thought: What if you didn’t fight the crowd? What if, instead, you let Rehoboth keep doing its glorious, chaotic, glitter-bomb thing and you quietly built your beach life 15 minutes away for considerably less drama and considerably more square footage? Here are four towns ready for their close-up.

Lewes: The Charming Overachiever

Lewes is what happens when a beach town actually has its life together. Historic charm, walkability, proximity to Cape Henlopen State Park, less crowding, and a strong year-round community. Unlike towns that turn into ghost towns after Labor Day, Lewes maintains a real community all year long, which is more than we can say for some situationships.

And right now, the market is practically begging you to make a move. It’s one of the most desirable and stable markets in the county — built for buyers thinking long-term, not flippers, and Sussex County overall has flipped into genuine buyer’s market territory for the first time in years. Translation: you finally get to be the one with leverage. 

Bethany Beach: My Personal Pick

Full disclosure: I own in Bethany. So consider this section a little biased — and also the most honest thing I’ll tell you in this whole article.

When I drive down from D.C., I’m not looking for more of D.C. I love this city, but I also love leaving it — and yes, some of the people in it too (you know who you are, and so do I). Bethany gives me that full exhale. It’s quiet in the way that actually means something: fewer crowds, slower mornings, a soundtrack that’s mostly waves instead of nightlife. It leans hard into its “quiet resort” reputation, with low property taxes and a limited geographic footprint, and it is not the least bit sorry about it. 

But quiet doesn’t mean isolated. I’ve got a genuinely excellent food scene nearby, real shopping, and a string of charming neighboring beach towns — and when I do want a taste of Rehoboth’s energy, it’s a short, easy drive away. I get to choose my dose of chaos instead of living inside it.

And here’s the part that matters most for this article: the price. If you’ve looked at Rehoboth listings and quietly closed the tab in despair, I need you to hear this — you can absolutely afford a beach house. It just doesn’t have to be in Rehoboth. Bethany’s average home value sits around $848,592, which is still real money, no question — but it buys you more house, more land, and more peace than the same budget gets you closer to the boardwalk. Bethany is welcoming too, just without Rehoboth’s decades of built-in queer institutional history — and for plenty of us, that trade-off is more than worth it. 

Fenwick Island: Small Town, Big Flex

Fenwick rarely gets mentioned and, frankly, it should be insulted. It’s tiny, it’s quiet, and it has beach access without the carnival energy. The market data tends to lump it in with Bethany, where single-family oceanfront homes clear $1 million while entry-level condos start in the $600s — proof that “under-the-radar” doesn’t mean “bargain bin,” it means “fewer people fighting you for it.” 

South Bethany: For the Boat Gays

Some of us want sand between our toes. Others want a private dock and a boat named something deeply unserious. South Bethany’s canal communities are built for the latter — water access on both sides, fewer crowds, and a lifestyle that says, “I have a captain’s hat and I am not afraid to wear it.”

The Math Works in Your Favor Now

Here’s the part that should really get your attention: Sussex County’s median sold price has dropped to $440,000, down 3.3% year-over-year, and buyers are routinely closing around 88 cents on the dollar compared to asking price. That’s a far cry from the unhinged bidding wars of 2021 and 2022, when overpaying was basically a competitive sport. Inventory across the county sits at nearly 2,500 active listings — the most of any county in Delaware, meaning you actually get to be picky for once. Revolutionary, we know. 

And no, choosing one of these towns doesn’t mean leaving your people behind. Sussex Pride serves the entire county, not just Rehoboth proper, and CAMP Rehoboth’s resources extend well beyond town limits too. You’re not exiling yourself to the suburbs of queerness — you’re just getting a bigger kitchen, a quieter porch, and a much shorter line for the bathroom. 

Add in the fact that Delaware has no estate tax and some of the lowest property taxes around, savings that genuinely add up over a retirement horizon, and the case writes itself. Rehoboth will always be the beating, sequined heart of queer beach culture in Delaware. But if you’ve been telling yourself a beach house isn’t in the cards — I’m here to tell you it absolutely is. It just might be 15 minutes south, with your own quiet porch, your own salt air, and considerably more room to breathe. 

Have a real estate question or Rehoboth market tip? Reach out to [email protected] for LGBTQ-friendly real estate resources in the Rehoboth area.


Justin Noble is a Realtor licensed in D.C., Maryland, and Delaware with Monument Sotheby’s International Realty. Reach him at [email protected] or 302-897-7499.

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Real Estate

‘Culture eats strategy for breakfast’

Real estate agents must adapt, learn how to manage from within

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A real estate agent is contractually bound to act on their client’s behalf. (Photo by Andy Dean Photography/Bigstock)

“Culture Eats Strategy for Breakfast” was a phrase often repeated in many of my management courses from the University of Illinois. The concept was discussed at length – how the best laid plans can sometimes be supported or derailed by the culture of the people involved in whichever project to be implemented. Whether it be a project to implement new software, roll out a new product or service, or just reaching a sales target, the way the team involved works together can indeed affect the outcome.  

Perhaps this is just another way to say, “teamwork makes the dream work!” Most teams usually have someone who is designated as a leader. The leader can try to lead through authority and control or can alternatively try to lead through influence and encouraging a more collective framework for solving problems.  

Why does this matter when picking the right real estate agent or team to work with? Besides having a job as a salesperson for the brokerage, the real estate agent is contractually bound to act on their client’s behalf. The buyer broker agreement is in place so that the agent and the client can work together as a team in communications regarding offer strategy, during negotiations, implementing marketing plans, as well as selecting which renovations or upgrades to choose before selling a property.  After the property goes under contract, the job isn’t “done”.  There is still work to do.  

At this point, the agents then turn into a project manager of sorts – coordinating communications between the lending team, the title attorneys, the other client’s agents, any governmental agencies that could be involved in down payment assistance or helping to clear a property for a sale, and often times groups like a condo board, a home inspector, or contractors when arranging repairs and estimates before a final walk through. 

In short, the agent takes on somewhat of a “leadership role” in the transaction and ensures that all the ducks stay in a row until the project is complete.  That agent will hopefully be very fluid and forthcoming with their information, copying the required parties on all communications and creating a “paper trail” of who said what or didn’t offer to fix A, B, or C, so that all the minutiae of the contract can be addressed and fulfilled before the settlement date.  The agent often must wear many hats and quickly learn the communication styles of an entire new set of people in a short period.  One person may not return calls for a week after being contacted.  Another person may go on vacation at the beginning of the process and not return emails for two weeks.  Another person may wish to have daily updates of the progress of the process. 

In this way – an agent quickly learns in each transaction that “culture can eat strategy for breakfast.” Because the agent must adapt to a wide variety of communication styles, learn how to “manage from within”, build support for closing the project by the due date, and somehow keep all the interested parties invested, engaged, and responsive.  

Who you work with matters when picking the right person to represent you in your next transaction – so, just remember that “teamwork makes the dream work!”


Joseph Hudson is a referral agent with RLAH. Reach him at 703-587-0597 or [email protected].

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Real Estate

Does Pride decor resemble Trump’s design aesthetic?

Glitter, gold, and rejecting the idea that a home should be understated

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Trump’s White House decor features an astonishing amount of tacky gold leaf. (White House photo public domain)

Interior design is often a balancing act between taste, personality, and restraint. Sometimes, however, restraint leaves the building entirely. Such is the case when the colorful exuberance of gay Pride-inspired decorating collides with the famously excessive decorating style associated with the current occupant of the White House. The result can be a fascinating study in maximalism, spectacle, and unapologetic visual overload.

Donald Trump’s personal decorating style has long been a subject of debate among designers and critics. Admirers see luxury and grandeur. Critics see something else: a dizzying display of gold leaf, marble, mirrors, crystal, and oversized furnishings that often crosses the line from elegant into what many designers would call tacky. More is rarely enough. If one chandelier sparkles, three are better. If a room has gold accents, why not make every available surface gold? (See Oval Office and ballroom rendition for details.)

In many ways, this excess shares common ground with certain Pride celebrations. Pride has never been about blending into the background. It celebrates visibility, self-expression, individuality, and joy. Rainbow colors, dramatic costumes, glitter, flamboyant artwork, and bold statements have long been part of Pride culture. Yet there is an important difference. Pride’s extravagance is often playful, self-aware, and rooted in personal expression, while Trump’s aesthetic has frequently been criticized for equating luxury with sheer quantity and visual intensity.

Combining these influences creates an interior that could best be described as “glamorous chaos.”

Imagine entering a living room in which gold-trimmed mirrors stretch from floor to ceiling. Crystal chandeliers hang above a bright rainbow velvet sectional. Marble floors gleam beneath metallic furniture that appears determined to reflect every available light source. Pride flags become framed artwork surrounded by ornate gold moldings. A room designed this way doesn’t whisper. It shouts.

Color is central to the concept. Pride-inspired interiors often embrace the full spectrum of colors. Trump’s style, meanwhile, traditionally favors cream, gold, black, and glossy finishes. Combining them means introducing vivid jewel tones against a backdrop of faux-palatial luxury. Emerald green chairs, ruby-red draperies, sapphire-blue accent walls, and gold-trimmed furniture can coexist in a way that feels deliberately theatrical.

The key word is theatrical.

Many professional designers spend years learning how to create visual balance. A Pride-meets-Trump interior intentionally ignores many of those rules. Pattern competes with pattern. Shine competes with shine. Artwork competes with furniture. The eye rarely gets a chance to rest. For some homeowners, that sounds exhausting. For others, it sounds like the perfect party.

Lighting offers another opportunity to embrace excess. Crystal chandeliers, mirrored lamps, illuminated shelves, and color-changing LED lighting can transform a room into something resembling a cross between a luxury hotel lobby and a Pride festival. The goal is not subtlety. The goal is spectacle.

A dining room inspired by this combination might feature a massive glass table, gold dining chairs, rainbow floral arrangements, mirrored walls, and enough crystal accessories to keep a polishing cloth busy year-round. Critics would call it gaudy. Fans would call it fabulous.

Artwork becomes particularly important. Pride-themed pieces featuring LGBTQ+ history, activism, and culture can provide meaning beneath the decorative excess. Without these personal and cultural elements, the room risks becoming little more than a collection of expensive looking, but not necessarily expensive, objects. Pride design can work best when it reflects identity and community rather than simply displaying color for color’s sake.

While normally a haven for restful sleep, bedrooms can take a similar approach. Plush velvet fabrics, oversized tufted headboards, metallic and mirrored finishes, colorful accent lighting, and dramatic artwork create a space that feels more like a boutique hotel suite than a traditional bedroom. Again, the challenge is avoiding the temptation to add one more decorative element to an already crowded visual landscape.

What makes this design combination interesting is that both aesthetics reject the idea that a home should be understated. Both embrace visibility. Both invite attention. Both encourage occupants to take up space unapologetically. Yet where Pride design often celebrates authenticity and self-expression, Trump’s decorating style is frequently criticized for prioritizing conspicuous luxury over cohesion and refinement.

The result is an interior style that many people would consider delightfully outrageous and others would consider a decorating nightmare. Either way, nobody is likely to forget it.

In the end, a Pride-inspired interpretation of Donald Trump’s famously over-the-top aesthetic would be colorful, glittering, excessive, and impossible to ignore. It would break nearly every rule of minimalist design while embracing the philosophy that if something is worth doing, it is worth overdoing. Whether one sees that as fabulous or tacky may depend entirely on how much gold leaf and rainbow velvet one can tolerate in a single room.


Valerie M. Blake is a licensed associate broker in D.C., Maryland, and Virginia with RLAH @properties. Call or text her at 202-246-8602, email her at [email protected] or follow her on Facebook at TheRealst8ofAffairs.

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