Good morning, Broadsheet readers! Sen. Kamala Harris gives her first speech from the VP campaign trail, Shari Redstone is in control of ViacomCBS following her father’s death, and it’s Black Women’s Equal Pay Day. Have a terrific Thursday.
– The $1 million gap. Today is Black Women’s Equal Pay Day, meaning Black women had to work all of last year and this far into 2020 to earn what white men earned in 2019 alone; white women accomplished that goal four months ago.
On top of that astounding fact there’s this one: the pay gap will account for nearly $1 million in lost income over the course of a Black women’s career.
To mark the day, two leaders from LeanIn.org have written a Fortune op-ed that highlights the working experience of Black women. The pay gap, write co-founder and CEO Rachel Thomas and VP of people and managing director Raena Saddler, is “part of a much bigger problem.”
LeanIn.org and McKinsey have conducted the largest study of women in corporate America for five years now. “Year after year, the data tell the same story,” Saddler and Thomas write, “the workplace is worse for women than for men, worse for women of color than white women, and for Black women in particular, in many ways, it’s worst of all.”
They highlight a number of ways the business world shortchanges Black women; this one stuck out most to me: “59% of Black women say that they have never—not once—had an informal interaction with a senior leader at their company.”
But in addition to drawing attention to the problems, the pair also suggests steps to take toward solutions.
For one: “embrace an intersectional approach. The challenges Black women face are rooted in a combination of sexism and racism, so any attempt to support them must take both into account. For example, companies should track representation by gender and race combined and set hiring and promotion targets for women of color and Black women specifically.”
You can read their entire piece here.
Claire Zillman
claire.zillman@fortune.com
@clairezillman
Today’s Broadsheet was curated by Emma Hinchliffe.
ALSO IN THE HEADLINES
- A number 2 debut. Sen. Kamala Harris gave her first speech as the Democratic vice presidential nominee yesterday afternoon. She came out swinging against her November opponents: "As somebody who has presented my fair share of arguments in court, the case against Donald Trump and Mike Pence is open and shut." CNN
- Stages of grief. Yesterday was the third anniversary of the white nationalist rally in Charlottesville, Virginia, where protester Heather Heyer was killed. In a piece for Fortune, Heyer's mother Susan Bro shares what her daughter's death taught her about grief—and the lessons it holds for those grieving during the coronavirus pandemic. Fortune
- Redstone empire. Media mogul Sumner Redstone's death yesterday leaves his daughter, ViacomCBS chair Shari Redstone, atop the family empire. Shari Redstone will succeed her father in a seat on the trust controlling his 80% voting interest in the family's holding company. Bloomberg
MOVERS AND SHAKERS: JetBlue Airways chief sustainability officer Sophia Mendelsohn joined Cognizant as its chief sustainability officer and global head of ESG. Debra L. Lee, former chairman and CEO of BET Networks, joins P&G’s board of directors; the company also promoted Monica Turner to president of North America sales. Intent VP of engineering Blaga Lund joins Kustomer in the same role. MINI's Esther Bahne joined Quarters as CMO and co-CEO.
IN CASE YOU MISSED IT
- How do you spin this? A former senior director at SoulCycle, Jordan Kafenbaum, is suing the company for pregnancy discrimination. The lawsuit alleges that former SoulCycle CEO Melanie Whelan once told an employee: "Paternity leave is for pussies." SoulCycle said Kafenbaum was laid off due to restructuring, and Whelan did not respond for request for comment in this story. Refinery29
- Serving those who serve. Victoria Chamberlin, a reporter and former soldier in the Army, writes about how the military failed her when she experienced infertility. The health insurance provided to active-duty military members only covers fertility treatments if the policyholder can't conceive due to a service-related injury. New York Times
- The end of the Veepstakes. Curious about the final hours of Joe Biden's VP selection process? This is the story to read. Over the weekend, Biden interviewed Stacey Abrams and Sen. Tammy Duckworth before telling them his choice on Tuesday. Among others, all the candidates for the role had to answer one specific question: What do you think Donald Trump’s nickname for you would be? Washington Post
ON MY RADAR
Misha Nonoo: Fashion businesses are no longer a worthwhile investment Fortune
Chanel Miller explores healing with new show at the Asian Art Museum Elle
Armed and on the frontlines: Inside Zimbabwe's all-female anti-poaching army Elle
PARTING WORDS
-Ai-jen Poo, co-founder and executive director of National Domestic Workers Alliance, in a Marie Claire package featuring 100 influential women on why they're voting this year.
