Good morning, Broadsheet readers. Target announced a new CEO and it’s not who we all thought it might be. Read on to see why female lawyers named Cameron are more likely to be successful than ones named Sue.
• Ruth Bader Ginsburg: Male justices had a blind spot. In an interview with Katie Couric, the Supreme Court Justice said that five of her male colleagues do not completely understand the ramifications of their decision in the Hobby Lobby case. The 5-4 ruling set a precedent that could allow future employers to deny female workers insurance coverage for contraceptives on religious grounds. Ginsburg added that she thought female daughters can “change the perception of their fathers,” and that the decision eventually will be overturned — even if she isn’t alive to see it. Yahoo
ALSO IN THE HEADLINES
• Target names its next CEO. PepsiCo executive Brian Cornell will take over as CEO of challenged mass retailer Target, after former CEO Gregg Steinhafel stepped downed. It was speculated that HSN CEO Mindy Grossman might succeed Steinhafel, but it looks like she is staying put after all. Fortune
• Thrillist co-founder and CEO: Marissa Mayer is doing a good job. “There are a lot of problems at Yahoo,” Ben Lerer told Bloomberg News on Wednesday. “They have a lot more work to do, but I am pro-Marissa Mayer.” Lerer’s comments come one-day after Eric Jackson, founder and managing partner of hedge fund Ironfire Capital, bashed Mayer’s recent acquisitions and job performance. Bloomberg
• Obama: Let’s get a woman on our currency. A young girl wrote a letter to to the President asking him a basic question: Why are there no women on American paper money? In a speech on Wednesday, Obama responded by saying in a speech that he thought putting one on would be a “pretty good idea.” The Hill
• Environmental groups are less diverse than tech companies. More than 70% of the presidents and board chairs of top environmental groups are male, according to a recent report on 300 independent groups and agencies. At the organizations with annual budgets over $1 million, 90% of the top execs are male. Guardian
• We have no idea what Hillary Clinton is worth. Despite all the recent speculation about how rich the Clintons actually are, we won’t know for sure unless the former Secretary of State runs for the White House. Two years ago, financial disclosures revealed that Hillary’s net worth could be anywhere between $5 million and $25 million. WaPo
• MOVER AND SHAKERS: Hope Margala, former retail president of Jarden Corp.-owned Yankee Candle is now the brand’s CEO.
The gender wage gap is growing because we all work too much
There is a lot of debate about the size of the gender wage gap, yet one fact is indisputable: The gap is no longer getting smaller. More women than men are going on to higher education, yet the narrowing of the wage gap unexpectedly started to stall in the beginning of the 2000s. How can this be? The growing tendency for Americans — particularly men — to work more than 50 hours a week might have something to do with it.
Not only are men more likely than women to work overtime, but they are paid more while doing it, according to a new study in The American Sociological Review. While in 1979 15% of men and 3% of women worked 50-plus hours a week, by the late 1990s those figures increased to 19% and 7%, respectively. Federal law mandates hourly employees get paid more for overtime work. The rule should financially discourage employers from having workers log long hours, but it doesn’t appear to be doing so. As a result, the hourly wage for overtime work continues to rise while the gender wage gap widens.
Theses findings have numerous implications for the most powerful women in business, or for a group whom The New Yorker’s Margaret Talbot refers to as the “lean-in cohort.” By paying workers more for working unrealistic hours, the economy is unintentionally asking women to choose between two goals: solving the gender wage gap or creating a work-life structure that supports having a family.
Critics of Sheryl Sandberg’s famous recipe for succeeding in the workplace often say the “work until you can’t work anymore” mentality doesn’t fit their life goals. Ruth Porat, the chief financial officer at Morgan Stanley, recently told Politico, “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.”
The nailed shut door, in this instance, is the American workplace equating more work with better work. Until the economy stops rewarding those who simply spend more time in the office, the gender wage gap will continue to grow. A lot of women will also get bloodied in the process.
What’s your take? Email me at firstname.lastname@example.org with your thoughts.
IN CASE YOU MISSED IT
• Fox news anchor calls The Bachelorette a ‘slut.’ When the host of Fox News‘ “The Five” discussed The Bachelorette in a recent segment, Bob Beckel thought it was appropriate to say, “She’s a slut, number one.” Thankfully female co-host Andrea Tantaros didn’t let the comment go by, but how a “professional journalist” can still have a job while saying comments like this is beyond me. Talking Points Memo
• Megan McCain will not be watching Palin TV anytime soon. The daughter of former Presidential candidate Senator John McCain said recently that she will not subscribe to the Sarah Palin Channel because she “got all the Sarah Palin [she] needs for one lifetime.” Ouch. Politico
• Women with sexually ambiguous names tend to be more successful. A study on female lawyers found that if a woman changes a lawyer’s name from Sue to Cameron, she is three times as likely to become a judge. The phenomenon seems to be most relevant in traditionally male-dominated industries like finance, law and engineering. The Atlantic
ON MY RADAR
It’s official: Women want stronger gun laws Purple Insights
Check out how U.S. paid family leave compares to the rest of the world Think Progress
We all need emotional boundaries at work Bloomberg
This woman’s title is Chief Curiosity Correspondent Yahoo
Houstonians are fighting equal-rights laws because of bathroom politics Bloomberg
You can't have it all, all at once... Who — man or woman — has it all, all at once? Over my lifespan I think I have had it all. But in different periods of time things were rough. And if you have a caring life partner, you help the other person when that person needs it.Justice Ruth Bader Ginsburg tells Katie Couric what she thinks about having it all.