1
00:00:02,400 --> 00:00:05,800
Speaker 1: Global business news twenty four hours a day at Bloomberg

2
00:00:05,840 --> 00:00:08,920
Speaker 1: dot com, the radio, plus mobile, and on your radio.

3
00:00:09,200 --> 00:00:13,520
Speaker 1: This is a Bloomberg Business Flash ron Bloomberg World Headquarters.

4
00:00:13,560 --> 00:00:16,360
Speaker 1: I'm Charlie Pelata. An intra day high for the nastack

5
00:00:16,400 --> 00:00:19,640
Speaker 1: Compositive Index today, no records, but the tal, the SMP

6
00:00:19,720 --> 00:00:23,640
Speaker 1: and nezdak all advanced. SMP five hundred index up four

7
00:00:23,680 --> 00:00:26,840
Speaker 1: to six, a gain there of two tenths of one

8
00:00:26,880 --> 00:00:30,280
Speaker 1: percent down industrials up seventeen, a gain of one tenth

9
00:00:30,280 --> 00:00:33,280
Speaker 1: of one percent to now at eighteen thousand, five hundred

10
00:00:33,280 --> 00:00:36,120
Speaker 1: forty seven. The SMP five hundred in next, by the way,

11
00:00:36,159 --> 00:00:39,239
Speaker 1: just about four points shy of a record. Nastack up

12
00:00:39,280 --> 00:00:42,559
Speaker 1: fifteen fifty two sixty a gain of three tenths of

13
00:00:42,600 --> 00:00:45,839
Speaker 1: one percent, ten year yield, one point five four percent

14
00:00:45,880 --> 00:00:48,840
Speaker 1: gold down eighty cents the ounce the thirteen thirty eight,

15
00:00:49,080 --> 00:00:51,960
Speaker 1: the drop of one tenth of one percent crude West

16
00:00:52,000 --> 00:00:54,760
Speaker 1: Texas Intermediate crude oil of one point two percent of

17
00:00:54,920 --> 00:00:58,160
Speaker 1: fifty six cents of barrel forty seven ninety seven on

18
00:00:58,440 --> 00:01:05,480
Speaker 1: West Texas Intermediate. I'm Charlie Pellatin. Thatath's a Bloomberg Business flash.

19
00:01:05,760 --> 00:01:09,200
Speaker 1: You're listening to Taking Stock with Bim Box and Kathleen

20
00:01:09,319 --> 00:01:15,000
Speaker 1: Hays on Bluebird Radio. In twenty fifteen, female full time

21
00:01:15,040 --> 00:01:19,520
Speaker 1: workers made only seventy nine cents for every dollar earned

22
00:01:19,640 --> 00:01:23,560
Speaker 1: by men. That equates to a gender wage gap of

23
00:01:23,720 --> 00:01:27,640
Speaker 1: twenty one per cent. Women on average earn less than

24
00:01:27,680 --> 00:01:30,720
Speaker 1: men in virtually every single occupation for which there is

25
00:01:30,760 --> 00:01:34,640
Speaker 1: sufficient earnings data for both men and women in order

26
00:01:34,680 --> 00:01:37,600
Speaker 1: to calculate this ratio, and here to tell us more

27
00:01:37,760 --> 00:01:42,720
Speaker 1: about the progress that women are enjoying and continue to

28
00:01:42,920 --> 00:01:48,280
Speaker 1: build for themselves is Ambassador Milan Vervier. Ambassador Vervia is

29
00:01:48,320 --> 00:01:52,640
Speaker 1: a co founder and executive director of Georgetown University's Institute

30
00:01:52,680 --> 00:01:56,320
Speaker 1: for Women, Peace and Security, and as a note, she

31
00:01:56,440 --> 00:01:59,440
Speaker 1: was appointed by President Obama to be the first ever

32
00:01:59,520 --> 00:02:02,720
Speaker 1: ambassad that are at large for global women's issues at

33
00:02:02,760 --> 00:02:05,920
Speaker 1: the U. S. State Department. Ambassador Revere, thank you for

34
00:02:05,960 --> 00:02:08,640
Speaker 1: being with us. It's a pleasure. Thank you. Now, I

35
00:02:08,680 --> 00:02:11,720
Speaker 1: want to just note there are a couple of anniversaries

36
00:02:11,919 --> 00:02:15,640
Speaker 1: which seem to have not necessarily hit the headlines, and

37
00:02:15,840 --> 00:02:19,079
Speaker 1: one was last week. Would you like to tell us

38
00:02:19,080 --> 00:02:23,200
Speaker 1: about the nineteenth Amendment? Well, the nineteenth Amendment is the

39
00:02:23,240 --> 00:02:25,960
Speaker 1: amendment that gave women in the United States the right

40
00:02:26,000 --> 00:02:32,120
Speaker 1: to vote. Uh. Actually it's August. Uh, so we're nearing

41
00:02:32,200 --> 00:02:36,480
Speaker 1: the day. And when you look back at those almost

42
00:02:36,560 --> 00:02:39,280
Speaker 1: one hundred years, we have indeed made a great deal

43
00:02:39,280 --> 00:02:42,520
Speaker 1: of progress in the United States, but as you pointed out,

44
00:02:42,600 --> 00:02:45,720
Speaker 1: in terms of the wage gap and so much more,

45
00:02:45,800 --> 00:02:49,640
Speaker 1: we still have a way to go. The Seneca Falls

46
00:02:49,760 --> 00:02:55,760
Speaker 1: Convention took place many years before the Nineteenth Amendment was ratified.

47
00:02:56,040 --> 00:03:00,200
Speaker 1: Many people might not know about that particular event. Tell us, well,

48
00:03:00,240 --> 00:03:03,360
Speaker 1: it was the first equal rights convention in the United

49
00:03:03,440 --> 00:03:07,240
Speaker 1: States where women and men. And I think it's important

50
00:03:07,280 --> 00:03:11,359
Speaker 1: to say that women's progress is about progress for everyone,

51
00:03:11,400 --> 00:03:14,720
Speaker 1: and men are a big part of that effort. Uh.

52
00:03:14,720 --> 00:03:17,440
Speaker 1: And about a third of the participants in Seneca Falls

53
00:03:17,880 --> 00:03:21,480
Speaker 1: were men. Uh. And they came together to really work

54
00:03:21,600 --> 00:03:26,080
Speaker 1: and create a bill of particulars, if you will, uh,

55
00:03:26,120 --> 00:03:30,760
Speaker 1: to move forward for equal rights for women in this country. Now,

56
00:03:31,120 --> 00:03:33,840
Speaker 1: that's been a long time ago. We've come a long

57
00:03:33,880 --> 00:03:36,800
Speaker 1: way in the process, but we're still on a journey

58
00:03:36,800 --> 00:03:39,200
Speaker 1: in this country, and certainly women around the world are

59
00:03:39,240 --> 00:03:42,720
Speaker 1: still on a journey for full equal rights. Yes, that

60
00:03:42,840 --> 00:03:47,760
Speaker 1: Seneca Falls Convention was held in July of eighteen forty eight.

61
00:03:48,200 --> 00:03:51,200
Speaker 1: Now you are also the co author with Kim as

62
00:03:51,240 --> 00:03:55,120
Speaker 1: a reli of Fast Forward How Women can Achieve Power

63
00:03:55,600 --> 00:03:59,920
Speaker 1: and Purpose? Can you give us some examples of how

64
00:04:00,000 --> 00:04:02,880
Speaker 1: how women are using the tools that are available or

65
00:04:02,920 --> 00:04:06,680
Speaker 1: creating their own tools in order to bridge that wage

66
00:04:06,720 --> 00:04:09,760
Speaker 1: gap that I described well, The thesis of the book

67
00:04:10,360 --> 00:04:14,840
Speaker 1: is really to put forward the fact UH that fast

68
00:04:14,920 --> 00:04:18,880
Speaker 1: forwarding women and girls enabling them to advance fully, whether

69
00:04:19,000 --> 00:04:23,440
Speaker 1: in the economies of the country or in various social

70
00:04:23,480 --> 00:04:28,000
Speaker 1: ways access to education, healthcare, etcetera, that all of this

71
00:04:28,120 --> 00:04:32,039
Speaker 1: is critical to creating a better world, and corporations and

72
00:04:32,200 --> 00:04:36,279
Speaker 1: governments increasingly are recognizing this. UH. There is an evidence

73
00:04:36,400 --> 00:04:40,839
Speaker 1: base case today as there was not U before. UH.

74
00:04:41,040 --> 00:04:45,279
Speaker 1: Data from all kinds of sources, multilateral organizations, governments, the

75
00:04:45,320 --> 00:04:48,680
Speaker 1: private sector, from the World Economic Form to the World

76
00:04:48,680 --> 00:04:53,960
Speaker 1: Bank UH are is demonstrating that UH. Today we know

77
00:04:54,640 --> 00:04:59,640
Speaker 1: that women's economic participation, for example, is absolutely crucial for

78
00:04:59,720 --> 00:05:05,440
Speaker 1: econ comic growth, for jobs creation, for inclusive prosperity. We know, UM,

79
00:05:05,480 --> 00:05:09,880
Speaker 1: if we're companies that if we diversify our workplace, if

80
00:05:09,920 --> 00:05:14,719
Speaker 1: we put women into upper management and boards of directors,

81
00:05:15,360 --> 00:05:17,400
Speaker 1: that our bottom line is going to be better that

82
00:05:17,560 --> 00:05:22,240
Speaker 1: increasingly this is about not just the moral imperative that

83
00:05:22,360 --> 00:05:25,040
Speaker 1: it is, but that it is the smart thing to do.

84
00:05:25,160 --> 00:05:28,960
Speaker 1: And for businesses, it's about business performance. It's about the

85
00:05:29,000 --> 00:05:32,080
Speaker 1: bottom line. And in the book we point out how

86
00:05:32,800 --> 00:05:35,800
Speaker 1: more and more companies and women in companies who are

87
00:05:35,920 --> 00:05:40,599
Speaker 1: rising to UH positions with authority are making a difference

88
00:05:40,720 --> 00:05:44,000
Speaker 1: to recognize this evidence space case and to move their

89
00:05:44,480 --> 00:05:48,919
Speaker 1: their their companies forward and the process also to move

90
00:05:49,040 --> 00:05:53,839
Speaker 1: women forward UH wherever they are in business. Now, I

91
00:05:53,880 --> 00:05:57,440
Speaker 1: just want to note that in addition to co authoring

92
00:05:57,440 --> 00:06:01,360
Speaker 1: the book with Kim Azzarelli, you have both founded Seneca

93
00:06:01,440 --> 00:06:05,880
Speaker 1: Point Global. What is Seneca Point Global? And maybe you

94
00:06:05,920 --> 00:06:08,400
Speaker 1: can transition there to tell us about the glass ceiling

95
00:06:08,480 --> 00:06:11,200
Speaker 1: that exists in politics and business. What's the state of

96
00:06:11,200 --> 00:06:16,440
Speaker 1: that glass ceiling? Well, Seneca Point Global. Obviously, Seneca is

97
00:06:16,480 --> 00:06:19,440
Speaker 1: from the what we talked about a little earlier, the

98
00:06:19,480 --> 00:06:23,440
Speaker 1: Seneca Falls Equal Rights Convention and that urgency that continues

99
00:06:23,480 --> 00:06:26,120
Speaker 1: to be with us UH and it's an effort to

100
00:06:26,360 --> 00:06:30,200
Speaker 1: fast forward, if you will, UH women and girls globally

101
00:06:30,279 --> 00:06:32,760
Speaker 1: to create a better world and to create the kinds

102
00:06:32,760 --> 00:06:36,640
Speaker 1: of outcomes UH in terms of economic and social progress

103
00:06:36,680 --> 00:06:38,760
Speaker 1: that I think we all want to see. But the

104
00:06:38,800 --> 00:06:42,000
Speaker 1: reality is we are still up against call it a

105
00:06:42,040 --> 00:06:46,920
Speaker 1: glass ceiling, call it barriers of one kind or another. Uh.

106
00:06:46,960 --> 00:06:50,520
Speaker 1: Whether they're in in legal frameworks, whether there are parts

107
00:06:50,520 --> 00:06:54,960
Speaker 1: of mindsets, whether they're stereotypes, whatever, there is still a

108
00:06:55,040 --> 00:06:58,920
Speaker 1: set of hurdles UH. In some places bigger hurdles and

109
00:06:59,240 --> 00:07:03,400
Speaker 1: other places as lower hurdles that have to be overcome.

110
00:07:04,160 --> 00:07:07,400
Speaker 1: In in terms of the World Economic Form, I think

111
00:07:07,480 --> 00:07:09,720
Speaker 1: is a good measure because it puts out an annual

112
00:07:09,840 --> 00:07:12,720
Speaker 1: gender gap report and what they show in that report

113
00:07:13,520 --> 00:07:15,840
Speaker 1: as they look at at countries in terms of the

114
00:07:15,880 --> 00:07:22,880
Speaker 1: gap between men and women's equality in certain areas economic participation,

115
00:07:23,320 --> 00:07:27,440
Speaker 1: access to health, et cetera, political participation, and where that

116
00:07:27,560 --> 00:07:31,320
Speaker 1: gap is closer to being closed, those economies are far

117
00:07:31,400 --> 00:07:35,640
Speaker 1: more competitive and there's a great deal more progress for everybody.

118
00:07:35,680 --> 00:07:39,880
Speaker 1: Thank you very much, Ambassador Milan Vervier, the co founder

119
00:07:40,000 --> 00:07:43,760
Speaker 1: of Georgetown University's Institute for Women, Peace and Security. This

120
00:07:43,920 --> 00:07:49,240
Speaker 1: is Bloomberg coming up. Bloomberg Laws, brought to you by

121
00:07:49,320 --> 00:07:52,960
Speaker 1: Bentley University. What do tying up the finances at converse

122
00:07:52,960 --> 00:07:56,000
Speaker 1: and managing asset allocations at JPM Moregan have in common

123
00:07:56,080 --> 00:07:59,360
Speaker 1: a business degree from Bentley University. Because business is everywhere.

124
00:07:59,400 --> 00:07:59,960
Speaker 1: Prepare here