It's our day!

By Kristen Bellstrom
March 8, 2017
March 08, 2017

Good morning, Broadsheet readers! Nike is making a competition-proof hijab, the highest-paid U.S. college president is female, and we meet the woman who took over Ivanka Trump’s brand. Happy International Women’s Day!


EVERYONE'S TALKING

• It’s our day. It’s International Women’s Day, a holiday that traces its roots back to 1908. Yet the celebration is getting a new spin this year, thanks to A Day Without A Woman, a movement that encourages women to strike today to highlight our economic power.

What if every working woman in the U.S. decided to take the protest organizers up on their proposal and stay home for the day? According to the Center for American Progress, that 24 hours would put a $21 billion dollar dent in country’s gross domestic product. And that’s without factoring in the (very real) economic value of women’s unpaid labor. Indeed, the BLS has said that if all that caretaking work were factored into GDP in the first place, it would surge by more than 25%.

And it’s not just our larger economy that would suffer. According to Motto‘s analysis, women account for 78% of physicians and surgeons, registered nurses, and physician assistants—so you might have to cancel that doctor’s appointment on strike day. Don’t count on dropping the kids off at school, either: Women make up 84% of preschool and kindergarten teachers, elementary and middle school teachers, teacher assistants and special education teachers. You’d also have some issues at banks, pharmacies, and your accountant’s office.

So, while the vast majority of readers who emailed me yesterday said you plan to work today, I was cheered by how many of you are celebrating the day in your workplaces—often with the support of your company. Women still face daunting barriers at work, but the more employers recognize that fact and acknowledge female employees’ value, the closer we get to overcoming them.


ALSO IN THE HEADLINES

• Open for business. While A Day Without a Woman is the brainchild of the same people who organized the Women’s March on Washington, many of the major non-profits and labor organizations that backed the march—including Planned Parenthood and the Natural Resources Defense Council—will remain open today.  Time

• SCAD score. Paula Wallace, president of the Savannah College of Art and Design, is the highest paid nonprofit college president in the U.S., according to a Wall Street Journal analysis. Wallace, who made $9.6 million in 2014, also came in No. 8 in the publication’s ranking of employee comp at tens of thousands of organizations legally classified as charities (No. 1 was Anthony Tersigni, CEO of hospital operator Ascension). WSJ

• Hijabs go pro. To better serve Muslim athletes, who have sometimes run into problems attempting to compete in a traditional hijab, Nike plans to launch “a performance hijab similar to Nike Pro’s other products: inconspicuous, almost like a second skin.” The reveal of the Pro Hijab comes on the heels of the company’s popular video campaign that features Arab and Muslim women athletes exercising and competing.  Fortune

• A Sterling example. The 1,300-plus pages of statements from women involved in the massive pay discrimination class-action suit against Sterling Jewelers reveal some of the ways in which common corporate procedures can cause or exacerbate discrimination. This story looks at how things like “anonymous” hotlines, mandatory arbitration, and “tap on the shoulder” promotions can hurt working women. New York Times

• Don’t forget to write. As part of its Leaders & Daughters initiative, executive search firm Egon Zehnder has put together a touching collection of letters from executives to their daughters. Among the letter writers: Apple retail boss Angela Ahrendts, Joyus and theBoardlist founder Sukhinder Singh Cassidy, and Hyatt CMO Maryam Banikarim, as well as Fortune‘s Adam Lashinsky and former Fortune editor-at-large Jennifer Reingold. Fortune

• Attention New Yorkers! Those of you working in the Big Apple may notice a new presence today: that of a fearless little girl staring down Wall Street’s iconic charging bull. The statue was placed there by money manager State Street Global Advisors, which yesterday announced plans to pressure companies to put more women on their boards. Speaking of Manhattan: If you are in the neighborhood, stop by Fortune‘s offices Thursday for our 100 Best Companies to Work For launch event. RSVP here Fortune

MOVERS AND SHAKERS: AIG has named chief auditor Martha Gallo CIO. AT&T has promoted Marissa Shorenstein to SVP for the East Region. LinkedIn CMO Shannon Stubo has joined Vidyard’s board of directors.


IN CASE YOU MISSED IT

• A flashy purchase. Fortune‘s Barb Darrow digs into why HPE CEO Meg Whitman decided to drop $1 billion to acquire Nimble Storage, a flash storage specialist. Fortune

• The woman behind Ivanka. While many people continue to associate the Ivanka Trump brand with the first daughter herself, the company is currently being run by a different woman: president Abigail Klem. This Refinery29 deep dive looks at how Klem is leading the retailer forward now that its namesake founder has distanced herself to focus on politics. Refinery29

• Oh, Omarosa. Politico describes Omarosa Manigault, the former Apprentice contestant-turned senior aide to the president, as “the most assertive and demanding of the small number of longtime loyalists crowded around Trump.” It seems that not everyone in the White House is thrilled with her place in the inner circle. Politico

• Pro tips. Facebook global head of people Lori Goler and Kleiner Perkins senior partner Juliet de Baubigny talk about how to find—and hold on to—the best employees. WSJ

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ON MY RADAR

Nordstrom is winning the war over Ivanka Trump  Bloomberg

AT&T customers are getting exclusive access to Taylor Swift concert  Fortune

‘Honor killings’ nod in travel ban further inflames critics  Bloomberg

34 female photographers you should follow right now  Time


QUOTE

Shod in heels or flats, we are collectively putting our foot down.
U.K. Equalities Minister Caroline Dinenage, on the push to eliminate sexist dress codes in Britain

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