Good morning, Broadsheet readers. There has been a lot of talk recently about how much Hillary and Chelsea Clinton get paid to speak at public events. Read on to see what is missing from the conversation. Here are today’s top stories:
• Marissa Mayer makes one of her biggest acquisitions yet. Yahoo announced late Monday that it will acquire Flurry, a San Francisco-based mobile ads and analytics company. The tech giant isn’t disclosing the price of the acquisition, but Re/Code reported it in the “hundreds of millions” of dollars. CEO Marissa Mayer has long identified Yahoo’s mobile ad business — which is set to fall below Microsoft’s in revenue — as a critical point of weakness for the company. Now she is putting her money where her mouth is. Fortune
• “The most powerful woman on Wall St.”: Leaning in is not enough. “If you are leaning in to a door that is nailed shut, you are just going to get bloodied and tired of trying to push that door open,” says Ruth Porat, the chief financial officer at Morgan Stanley. Porat, who hates the term work-life balance because she thinks it sets women up to fail, told Politico that it is important for women to find a “mix” of family and business so they are never completely isolated from one or another. Politico
• Obama follows Samantha Power’s lead. President Obama said Monday that Russian President Vladimir Putin has “direct responsibility” for ensuring the site of the MH17 crash is safe and accessible to international investigators. His comments come after a muted response on Friday when he shied away from implicating the Russians in the tragedy. UN Ambassador Samantha Power indicated on Friday that the U.S. cannot rule out the possibility that Russians played a role in the tragedy. WaPo
IN THE HEADLINES
• The “money gap” in political donations. The top 20 male political donors have given a combined $62.6 million this election cycle compared with just $11.2 million from the top female donors during the same period. One explanation for the gap is that women often prefer building a relationship with the candidate so they know where the money is going. Men are more willing to write a check and walk away. Politico
• Companies sell to women but only have men on top. The Huffington Post and Catalyst took a deep dive into 19 of the largest companies that cater to women and found that just one, Avon, has a board of directors that is strongly female. Although women-driven clothing companies, consumer goods manufacturers, department stores and makeup makers have a lot of women in lower levels of management, the numbers tend to drop off as you get closer to the C-Suite. This could be the reason why marketing for female products — like mascara and tampons — often can be so out of touch. HuffPo
• MOVERS AND SHAKERS: Jacqueline Hinman, the CEO and president of global engineering company CH2M Hill, is also now chairman of the board. Megan Murphy, the head of The Financial Times’ digital service fastFT, will become the paper’s new D.C. bureau chief. Know a woman in your industry who is moving up or moving on? Email me.
The gender wage gap that wasn’t
In the 16 months since Hillary Clinton left her post at the State Department, the former Secretary of State has earned as least $12 million in combined book sales, paid appearances and speaker fees. If you ask Bloomberg News, her hefty paycheck is “at odds with her party’s call to shrink the gap between the rich and the poor.” Yet what the news organization failed to point out is that Clinton’s speaking fees and book revenues are completely aligned with another policy central to the Democratic party: Fair pay for women.
Hillary Clinton’s income since leaving her government post rivals, if not surpasses, former male politicians as well as potential presidential candidates. Former President George Bush earned $15 million in three years after leaving the White House. Former presidential candidate Mitt Romney made as much as $60,000 at various speaking events, while Hillary has reportedly collected as much as $200,000 for similar appearances. Hillary’s lifetime book sales have nearly surpassed her husband’s $1.7 million payout to date. Admist a sea of media coverage about how little most powerful women in business and politics make in comparison to their male peers, it is refreshing to hear about a woman who is “making too much.”
Clinton is just the latest in a long line up of women in politics who have been critiqued for earning more than what our intuition tells us is appropriate. Sarah Palin, Jenna Bush Hager, Meghan McCain and Chelsea Clinton have all made headlines for the paychecks they earn for either speaking at event or on television. The stories rarely compare what they get paid compared to their male peers, and that’s a good thing.
Ultimately, Clinton is in a catch-22 with the recent press coverage surrounding her pay. What would her critics like her to do? Speak for less money? Not take a cut of her growing book sales? If either of those scenarios happened, then the conversation would turn to how little Clinton earns compared to her male predecessors in politics.
Yes, earning $200,000 to speak in front of fifty people for less than an hour sounds quite ridiculous. But just because Hillary accepts the same pay as other politicians with similar clout, doesn’t mean she should take the fall for the income gap between the rich and the poor.
Did The Broadview hit the mark? Email me at email@example.com with your thoughts.
IN CASE YOU MISSED IT
• America thinks women could better govern the U.S. Nearly 65% of Americans think the country would be better managed with more female political leaders, according to a Gallup poll out Monday. That figure is up from 57% in 2000. Married men and conservatives are the two groups most likely to think negatively about women in political office. Gallup
• Even one woman in the boardroom makes a difference. As companies across the globe launch programs to move toward gender parity on executive boards, new research out of the University of Vancouver says just one woman can make all the difference. Female execs reportedly help promote communication and offer better consumer insights while showing a greater attention to detail. This results in companies that outperform their competitors, especially in male-dominated industries. NBC News
• Want to get ahead in business? Order whiskey on the rocks. To signal confidence, strength and toughness to their male peers, women in business are drinking more of the hard stuff. On average, some women in Russia, Nigeria and Brazil are drinking more than their peers in the U.S. as women in these emerging markets use drinking as a key way to network with men. “I would make a point of drinking rum, straight up, in a big glass wherever I was at a business networking event,” a tech entrepreneur from Sao Paulo said in the study. Quartz
WHAT I’M READING
How the first female comic book exec transformed the industry Makers
When CEOs and CFOs share an Alma Mater WSJ
A 3D printed My Little Pony? Fortune
The happiest cities in America all are in Indiana Policy Mic
It doesn’t matter if it’s men or women — she wants to be a coach and she works her butt off at it. She’s in our film room all year, she’s terrific, and it’s a way of rewarding employees. She’s very loyal; she’s out on the floor with our guys, rebounding, and she’s a student of the game.Doc Rivers, the current head coach and president of Basketball Operations for the NBA's Los Angeles Clippers, told <em>The New York Times</em> about assistant video coordinator Natalie Nakase's desire to lead an NBA team.