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TheCorporateCounsel

TheCorporateCounsel.net

A basis for research and practical guidance focusing on federal securities laws, compliance & corporate governance.

DealLawyers

DealLawyers.com

An educational service that provides practical guidance on legal issues involving public and private mergers & acquisitions, joint ventures, private equity – and much more.

CompensationStandards

CompensationStandards.com

The “one stop” resource for information about responsible executive compensation practices & disclosure.

Section16.net

Section16.net

Widely recognized as the premier online research platform providing practical guidance on issues involving Section 16 of the Securities Exchange Act of 1934 and all of its related rules.

PracticalESG

PracticalESG.com

Keeping you in-the-know on environmental, social and governance developments

I am a car guy so there was simply no way I could ignore Lamborghini’s recent statement about its’ DEI commitment. For those who may not know, Lamborghini is owned by Volkswagen, yet The Charging Bull maintains its own DEI statement. This of course led me check out Ferrari’s policy. Ferrari (“The Prancing Horse”) is its own company that issued stock through an IPO in 2015.

I couldn’t stop with the Italian purebreds, so I pushed my right foot down.

Out of Britain we have:

  • Aston Martin (James Bond’s ride of choice) goes down a slightly different road by focusing on gender pay gap.
  • Bentley Motors’ Diversity and Inclusion page (under their broader Social page) features a rainbow-hued Continental Convertible, signaling their emphasis on LGBTQ+ matters.
  • McLaren’s social responsibility page turbocharges their environmental commitment, leaving DEI running a little lean.

Von Deutschland:

  • Porsche, the company Ferry built, has a wide-ranging DEI policy that seems to hit on all eight cylinders (astute gearheads may note the discrepancy to referencing eight cylinders in the Porsche context).
  • As a holding of Daimler, Mercedes covers a lot of miles in its DEI webpage. Their Formula 1 team winds its own course focused on STEM.
  • BMW does not sit in the passenger seat with its position on DEI, even though that is embedded in its’ Jobs page.

Ultra exotic hypercar manufacturers are definitely not in pole position:

  • Pagani & Koenigsegg have their foot on the brakes with no DEI information on their websites.
  • SSC North America may make the fastest production car in the world at 300+mph, but they have not sped toward posting DEI information on their website.
  • Bugatti gets the checkered flag in this group with their Policy, even if limited to gender pay equality.

To be fair, these companies run the gamut of annual revenues, location, number of employees and public versus private, so in some ways it’s a bit like comparing a convertible to an SUV. But it gave me a chance to write about cars and almost pretend I am an automotive journalist. For now, I think I’ve run out of gas.

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The Editor

Lawrence Heim has been practicing in the field of ESG management for almost 40 years. He began his career as a legal assistant in the Environmental Practice of Vinson & Elkins working for a partner who is nationally recognized and an adjunct professor of environmental law at the University of Texas Law School. He moved into technical environmental consulting with ENSR Consulting & Engineering at the height of environmental regulatory development, working across a range of disciplines. He was one… View Profile