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Social Security's 2032 deadline puts a 22% cut on the table — but Washington has way less room to negotiate than 1983

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Boomers actually do hold most of the wealth and power. So why do they call it 'whiny' to point that out?
NewslettersBroadsheet

Why some Black execs are moving abroad—for good

By
Emma Hinchliffe
Emma Hinchliffe
and
Beth Kowitt
Beth Kowitt
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By
Emma Hinchliffe
Emma Hinchliffe
and
Beth Kowitt
Beth Kowitt
Down Arrow Button Icon
August 11, 2020, 8:49 AM ET
Smiling young woman with wireless earphones in the city on the go, Lissabon, Portugal
Smiling young woman with wireless earphones in the city on the go, Lissabon, PortugalGetty Images
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This is the web version of The Broadsheet, a daily newsletter for and about the world’s most powerful women. Sign up to get it delivered free to your inbox.

Good morning, Broadsheet readers! McDonald’s sues its former CEO, Stacey Abrams talks about her political future with Janelle Monáe, and Black American executives working abroad reflect on why they have no plans to come back. Have a lovely Tuesday.

– America’s Black brain drain. Today’s guest essay comes to us from Fortune senior editor Beth Kowitt:

Last June at Fortune’s Most Powerful Women conference in London (remember when we used gather in person?) I met Najoh Tita-Reid, an American marketing executive working in Switzerland. As we chit-chatted, Tita-Reid recounted what a positive experience she was having as a Black woman working outside the confines of corporate America. I tucked the conversation away in the back of mind until this spring when I checked in with Tita-Reid in the wake of the police killing of George Floyd and the protests that followed. I wanted to understand how the fight for racial justice in the U.S. was impacting her thinking about living abroad, as well as the experiences of other Black American expats.

The result of that reporting is out this week. I interviewed more than a dozen Black Americans living overseas for the story, and one theme came through in every single conversation: Their international experience was the first time race was not the primary frame of reference through which they were viewed.

Living abroad, “you’re an American, you’re not African-American,” Shaundra Clay, who lived in Europe for eight years as a health care executive, told me. “You are not made to feel like you are carrying the burden of anything. You are carrying the power of something.” She said it was a level of privilege she had never experienced before in her life. In the U.S., Nancy Armand, an executive at HSBC Bank USA, was always conscious of her gender and race, she told me. In the U.K., she was always conscious of her nationality first. “I’d never been an American first and then Black. It’s a refreshing change.”

As Tita-Reid explained, working in Europe has been like wearing an oxygen mask, allowing her to breathe—to lead and perform at her best without feeling the crushing weight of America’s dysfunctional racial dynamics at every moment. But for her, like many others I spoke with, being outside the U.S. as the Black Lives Matter movement continues to take hold has elicited complicated feelings—both guilt at not being on the front lines, mixed with affirmation of why they did not want to return.

As much as the story is about working and living abroad as a Black American, for me, it was also eye opening in what it revealed about the environment they are leaving behind—the exhausting struggle of being a Black executive in corporate America today.

Read the full story here.

Beth Kowitt
beth.kowitt@fortune.com
@bethkowitt

Today’s Broadsheet was curated by Emma Hinchliffe. 

ALSO IN THE HEADLINES

- Broader representation. The movement to achieve gender diversity on boards of directors has been largely successful—and now it's putting its muscle behind racial diversity. TheBoardlist, the platform for companies to find qualified female directors, will open its service to men of color. Emma spoke to theBoardlist founder Sukhinder Singh Cassidy about why the platform is making the change—and to state lawmakers who have led on women's board representation about whether they could follow suit. Fortune

- Behind the arches. McDonald's sued former CEO Steve Easterbrook, who was fired for "sexting with a subordinate" last year. Now, after another employee came forwarded alleging a sexual relationship, the fast food chain accuses Easterbrook of hiding evidence and lying during the investigation into his conduct. McDonald's is seeking the return of compensation worth $40 million; the former CEO's attorney didn't respond to request for comment in this story. New York Times

- Listen up. How did Spotify secure an exclusive show with Michelle Obama less than two years after the music streaming service got into podcasts? That would be thanks to Dawn Ostroff, the company's chief content officer. The former CW and Condé Nast executive "sparked an arms race for podcasting companies and talent" with her big ambitions—and wooed the former President and first lady with the size of Spotify's non-paying audience. Wall Street Journal

MOVERS AND SHAKERS: Seed hired AO Biome Mother Dirt director of research and product development Jennifer Cookson as director of product development at Seed Health and Yamibuy.com CMO Jo Lu as SVP of revenue and growth. Buffalo Wild Wings hired Target VP of brand management Rita Patel as CMO.

IN CASE YOU MISSED IT

- VP watch watch. As vice presidential speculation heats up, women's rights groups and the Biden campaign are anticipating sexist and racist responses to Joe Biden's eventual pick. In this column, writer Margaret Sullivan advises media organizations on how to avoid sexist and racist tropes in their coverage. 

- All about Abrams. In an interview with actor and singer Janelle Monáe, Stacey Abrams says that she will "absolutely" run for President one day. But to the fixation on her future political prospects, she adds: "I don't need a title to do the work." Harper's Bazaar

- Color-coded. Several female members of Parliament in Poland last week wore rainbow colors to the swearing-in ceremony for President Andrzej Duda. Duda is known for his anti-LGBTQ views and policies, and the liberal women of Poland's Parliament coordinated their masks and dresses to express solidarity with the country's LGBTQ community. Vogue 

ON MY RADAR

Was Susan B. Anthony anti-abortion? Two sides are dueling over the answer—and the definition of feminism The Lily

Porsha in protest New York Times

Mumbai put female figures on traffic signals. Some women are not impressed New York Times

PARTING WORDS

"That’s what happens when you’re told you can’t."

-Former jockey Diane Crump on fighting to be one of the first women in the field

About the Authors
Emma Hinchliffe
By Emma HinchliffeMost Powerful Women Editor
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Emma Hinchliffe is Fortune’s Most Powerful Women editor, overseeing editorial for the longstanding franchise. As a senior writer at Fortune, Emma has covered women in business and gender-lens news across business, politics, and culture. She is the lead author of the Most Powerful Women Daily newsletter (formerly the Broadsheet), Fortune’s daily missive for and about the women leading the business world.

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By Beth Kowitt
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