So they want to implement a racist policy rather than a color-blind policy of hiring the best qualified candidate?
Note to self: Sell off all BofA stock ASAP!
Read the linked story - BofA knows it's illegal, but it was proposed by a minor shareholder and they are asking to get it dropped from the ticket. Goofy rules that they can't just ignore the proposal...
I'm with you in spirit but it seems to me the Bank isn't the villian here.
"BofA argues the proposal would violate federal and state law, including the 1964 Civil Rights Act, by introducing a rigid ``quota requirement'' and by forcing it to hire or promote on the basis of ethnicity."
Let's see how it plays out.
That would have the opposite effect you intend. It was your fellow shareholders that made the motion. By you leaving their ranks, they gain more strength.
It's not the bank. I can't remember which state BoA is incorporated in, but most states allow minor shareholders to introduce resolutions on which shareholders get to vote. This was some lefty thing that got passed in the '70s (of course) so that corporatiions would seem more cuddly and socially conscious or something. Obviously, this is some Nimrod-with-a-cause that holds enough shares to get such a resolution. The Bank has nothing to do with it. But they are likely required by law to put the resolution up to a vote since it has to do with business operations.
Don't worry, these things never pass. But if you feel strongly, be sure to mail in your proxy card with your no vote.