Word: equalization
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Dates: during 1990-1999
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...jury awarded $17.6 million to a female Texaco employee who sued after the company denied her promotion and gave her job to a man, a reprimand last year by the Office of Federal Contract Compliance Programs for unfair employment practices at its Houston facility and an investigation by the Equal Employment Opportunity Commission in June that found reasonable cause to believe that Texaco discriminates against some blacks in the organization. In other words, the company's shareholders have had ample time to realize that there was something shady about its practices and yet have done nothing...
...week to spend $176 million to end the lawsuit filed by black employees whom Texaco has been stonewalling for years. The pact contains the most lucrative settlement ever of a U.S. discrimination case. If wholeheartedly implemented, it could transform Texaco from a bastion of bigotry to an oasis of equal opportunity. But Bijur deserves no applause for all this: he had no other choice...
...plan is approved by the courts and the federal Equal Employment Opportunity Commission, Texaco will shell out $115 million in cash to about 1,400 current and former black workers, $26.1 million in pay raises over five years for black employees, and $35 million for diversity-training programs. Even more startling, it will create an unprecedented independent Equality and Tolerance Task Force to oversee changes in Texaco's employment policies and report twice a year to the company's board of directors. The task force--three members selected by the company, three named by the plaintiffs in the lawsuit...
...questions still need to be answered. Why did it take more than two years of legal action by six aggrieved black employees, the leak of an embarrassing tape recording and the threat of a boycott to get Texaco to live up to the fine-sounding promises in its glossy equal-opportunity brochures? Why was it so hard for black Texaco employees to be taken seriously when they complained about being called "porch monkeys" and "orangutans" by co-workers and being passed over for promotions? In short, why are so many whites ready to declare that the war against racism...
...everyone that bigotry still flourishes in many parts of corporate America. Ironically, that's one of the main reasons so many big companies opposed California's newly adopted Proposition 209, which effectively repeals government affirmative-action programs in the state. Cynical executives know that a passionately proclaimed commitment to equal opportunity is not only good public relations but also a tough defense against bias suits. They understand too that big investors shy away if a company's image is tarred by ugly charges of bigotry. Texaco's stock fell $3 a share in the first few days of the scandal...