Financial
Dramatic increase in LGBTQ-supportive companies on Nasdaq: report
Out Leadership survey shows 50% have inclusive board policies
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.
One of the biggest headaches of the new home process is the actual moving part. By the time someone is buying a home, most people are beyond the “I just need a pickup truck, a pizza and a case of beer for my friends.”
If that is still someone’s preferred way to move, that’s great. However, many people find they need a much more robust plan. It can also trigger a lot of feelings about items one owns, what to do with them, do they have too much, should I keep this memento that I never use? Etc.
Moving is a chance for a person to “clean house” literally, figuratively, spiritually and energetically. A person can figure out which items they want to keep, and which need to go. As someone who recently moved across the country, I can speak to this experience. It’s also time for what people call “the fresh start effect.” This phenomenon, according to psychologists, can happen in little moments (like the start of a new work week) and bigger moments (such as moving from one home to the next).
The fresh start effect offers these benefits often mentioned by psychologists:
- Mental Accounting: Dates act as chapter breaks, letting you put past failures into a previous period.
- Psychological Distance: You separate your flawed past self from your aspirational future self (“That was the old me”).
- Optimism Boost: New beginnings clear mental clutter and increase your sense of agency and control
Does this mean that “the new you” will be the perfect version you envisioned? Probably not. We are humans. But it might mean you get a chance to “leave some of the old you behind” within the walls you used to live in, and now have a chance to have a new layout, a new décor, a new color pattern, new wallpaper, donate old furniture and books or magazines, throw out clothes you no longer use or fit in, and enjoy the opportunity to literally use the, “Does this spark joy?” method that was made so popular by Marie Kondo in her Netflix series.
So, for all its hassle and headache, moving is a chance to shake off the “old you” and try on the new you, to incorporate the items you would like to keep and use more of, and shed the items, habits, and ways of thinking that you feel no longer serve you.
I can speak to the experiences that several of my clients had when they moved from a previous residence to a newer one. It usually coincided with a change in relationship status, a change in employment, a change in family size, but sometimes it just seemed to correlate to a new attitude and perspective that the client was really hoping for.
I have literally had clients come to me after the fact, in tears, that they were so happy they made the decision to move out of a situation that no longer served them, and move into one that felt like a much better fit.
Change can be annoying and overwhelming at times, but usually most people come out the other side, not wanting to return to the way they were before.
Joseph Hudson is a referral agent with RLAH. Reach him at 703-587-0597 or [email protected].
Real Estate
With gas prices soaring again, a staycation is a good plan
Home can be your personal retreat and your own private resort
When airfare costs more than your monthly utility bill and a weekend road trip requires a second mortgage just to fill the gas tank, many homeowners are discovering an unexpected luxury: the staycation.
A staycation isn’t settling for less—it’s reaping the benefits of one of the biggest investments you can make: your home. Much more than a place to sleep, it’s your personal retreat, your gathering place and, with a little preparation, your very own private resort.
Whether you own a single-family home, a townhouse, or a condo, creating a memorable staycation starts with appreciating what made you fall in love with your property in the first place.
Start with a home refresh. Think about checking into a beautiful vacation rental. It’s spotless, organized, and inviting. You can recreate that same feeling by spending a day preparing your home before your staycation officially begins.
Clear away clutter, deep clean the bathrooms and kitchen, wash the windows, and put fresh linens on every bed – even if you’re not expecting guests. Fluff the pillows, light a favorite candle, and place fresh flowers on the table. These small touches instantly make your home feel more luxurious.
If your budget allows, hiring a professional cleaning service can be one of the best staycation perquisites you make. After all, vacation should begin the moment you wake up and not after you’ve spent the day scrubbing floors.
Treat your staycation like a real trip. Set away messages on your phone and out of office notices on your email. Skip unnecessary chores for a few days. Giving yourself permission to relax may be the most valuable part of the entire experience.
One of the greatest advantages homeowners have over travelers is private outdoor living space. Whether it’s a spacious backyard, a screened porch, a rooftop terrace, or a cozy condo balcony, these areas can become the centerpiece of your staycation.
Stringing lights and adding comfortable seating, colorful planters, and outdoor rugs can completely transform the atmosphere without spending thousands of dollars. Add a portable fire pit, a tabletop fountain, or a hammock, and suddenly your backyard starts competing with many resorts.
Host an evening cookout, organize a game night, invite neighbors over for dessert, or gather around the fire pit for conversation after sunset. These simple moments often become the memories we treasure most.
Inside, transform your family room into a home theater complete with popcorn and comfortable blankets. Turn your breakfast room into a morning coffee café. Designate a quiet reading corner where phones are prohibited. Create a spa-like bathroom with plush towels, candles, bath salts, and relaxing music.
One of the highlights of traveling is experiencing new food. Instead of dining out every night, create themed dinners inspired by your favorite destinations. Prepare homemade Italian pasta one evening, Caribbean grilled seafood another, or a backyard Texas barbecue over the weekend. For a touch of whimsy, dress the part.
Pair each meal with music and libations from the region and enjoy dinner outdoors whenever possible. Suddenly, your dining room becomes part of the vacation experience instead of just another place to eat.
Families with children can turn a staycation into an adventure by seeing their home through a child’s eyes. Set up a backyard camping experience with a tent, flashlights, and s’mores around the fire pit. Transform the living room into an indoor campground complete with sleeping bags and a movie under a blanket “fort.” Organize a backyard Olympics with relay races, water balloon tosses, scavenger hunts, or miniature golf using household items.
Encourage children to plan a family picnic in the backyard or on the patio, choose a theme for a movie marathon, or help prepare meals inspired by countries they’d like to visit someday. The goal is to create experiences your children will remember long after summer is over.
Enjoy the amenities you already pay for. Condominium communities and many planned neighborhoods offer amenities that residents often overlook.
Swimming pools, fitness centers, tennis and pickleball courts, walking trails, clubhouses, grilling stations, and community gardens are designed to enhance your lifestyle. During your staycation, make a point of exploring everything your community offers. You may discover you’ve been living beside your own private resort all along.
Real estate professionals often talk about resale value, appreciation, and return on investment. While those things certainly matter, there’s another return that’s harder to measure: the enjoyment you get from living in your home every day.
You don’t need a boarding pass to recharge. You don’t need a hotel reservation to make memories. Sometimes the perfect getaway is the one you already own.
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.
Real Estate
When buying a home, it’s decisions, decisions, decisions
Keeping notes on the process makes for an informed purchase
When looking to buy a home, there are lots of details to consider. Many of my clients would come to me and say, “Joe I want to buy a place, but I haven’t decided which neighborhood to buy in.” And the struggle was real. A few clients had everything decided from the color of the hallway walls to the cabinet handles and sometimes which three square blocks they wanted to look at.
But other clients were occasionally looking at properties in areas as distinct as Union Market/NOMA, Brookland, Logan Circle, and then we would even go across the river to look at a property in Shirlington or the Van Dorn areas of Virginia, which all have their own unique flavor and characteristics.
Sometimes clients would tell me, “I only want to look in Mount Pleasant or Adams Morgan.” Or, “don’t even show me any properties west of this street or south of that street.” My job wasn’t to convince people where to live. It was to just take the parameters they set for me and find as good of a property in that zone as I could, coordinate the showings and, if necessary, offer the strategy.
One can see that buyers often had more decisions to make than a seller. From a seller’s perspective, the house was where it was, and we just had to make the best of it. But working with a buyer could mean looking at five different neighborhoods, and then being a “thought partner” to help them figure out which were the top two or three areas they had seen, and then further distilling those down into what was available and weighing those options against each other.
One house could have the dream bathroom but also be located six blocks further from a Metro stop, walkable shopping and dining, and “just too far away from my friends.” Another house could have all the neighborhood options a client was looking for, but was just not in turnkey condition, and would require an additional $30,000 of upgrades once purchased to make it into the dream home they envisioned.
One activity I often asked buyers to do was to keep an active list in their heads of the properties they liked, and to keep a running rank of the top three. I often encouraged them to bring a notebook along on the journey where they could take notes and write down questions they thought of as they looked. It was an important decision, and sometimes the largest purchase of their lives. Why not take it a little seriously, and take notes? This could often help the buyer later when they felt it was time to decide.
The point here is, keeping a notebook handy can sometimes help a person with what feels like an overwhelming process. It provides a space to explore how one feels, jot down important details to remember, and then use that to make an informed decision.
Joseph Hudson is a referral agent with RLAH. Reach him at 703-587-0597 or [email protected].
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