"Diversity" Outrage: Time for Mark Weldon to step down from the NZX

Mark Weldon started as CEO of the New Zealand Stock Exchange in the early part of the last decade and his main aim was to revitalise a flagging stockmarket and entice more investors into buying into NZX listed stocks. An aim that no stockmarket watcher would disagree with.

He has failed on those two counts alone with the stockmarket capitalisation less than it was 10 years ago and less Kiwis invested in the local bourse. Add to that a vacant IPO position over the last 2 years and regulatory problems related to dissemination of information to the market as a whole, rather than selected few, insiders trading on tips from mates and conflicts of interest of the NZX overseeing a market they participate in themselves and you have yourself what anyone would call a failure.

What might Mr Weldon be doing to correct these measures?

Work on some of the above? Quit and admit he has failed?

No.

Instead Mark has decided that the answer to the problems the NZX has is to focus on "diversity" on NZX listed companies by making it mandatory that companies hire on the basis of race and sex before the professional and personal qualities of the candidate are assessed, to increase the level of women and "ethnic minorities" in the boardroom.

Weldon is proposing that boards demand direct reporting of "diversity" numbers; and it goes beyond gender to include "diversity" generally, which includes "ethnic diversity".

“We’re a very skinny economy, four and a half million people. If we systematically exclude, or don’t create good pathways or accessible opportunities for large parts of the population, whether women or immigrants, then we are both unduly limiting the size of the talent pool and we are unduly putting a handbrake on growth in a globalised economy, where diversity of views, and experience is really valuable,” Listener, August 22, 2011

He bases his idea on similar "diversity" mandates that are voluntary in Australia and were introduced last year.

Regular readers of mine will know that this sort of nonsense just doesn't work for me. NZX listed companies have a devil of a time attracting quality candidates at present and you only have to look at the poor management of a number of NZX listed companies to see what I am saying has merit.

Mark Weldon's "diversity" ideal is not the answer to attracting quality people to the boardroom. In fact it will actually make things alot worse than it is at present. Putting the racial background and sex of the candidate before the experience, personal attributes and professional qualifications of the individual is a clear recipe for disaster. Not only is it racism and sexism at its grubby worst, it is also a race to the bottom in terms of quality as candidates for positions are hired not because they are the best person for the job but because they have to fill some nut-bag socialist quota.

One only has to deal with a couple of Government departments to find out how Mark's idea of a"diversity" quota has dismally failed - basic English seems to be foreign to many hired under "diversity" schemes operating in various Government departments.

Mark really needs to reassess his position as head of the New Zealand Stock Exchange. He has failed to fire the NZX in his near 10 years as CEO and the "diversity"* idea of his really should be a full-stop on his career.

Staying where he is is an insult to those that work for him, directors on boards of NZX companies that he wants to gerrymander, investors in NZX companies like myself, and the country as a whole.

Avert your eyes now readers...

Bugger off Mark.

* I apologise for the quote marks but this is a word that has lost its real meaning and I cannot use it with any truth of mind in my writing when it doesn't actually mean what it is supposed to.

Mark Weldon @ Share Investor

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c Share Investor 2011

Fully Aware of Muslims: Jihad & Understanding

My eyes would glaze over if the subject wasn't so serious because I have heard it many times before.

Its Muslim Awareness Week( MAW) again in New Zealand and this kicks off a week of hand wringing Liberal guilt likely to rival what members of the Catholic faith feel over Catholic Priests and their penchant for little boys.

A press release by Labour today encapsulates the misunderstanding that the loony Left would have the public believe that the majority of Muslims love the West, have nothing against "us" are purely emigrating to Western nations like New Zealand because they want to spread love, joy, happiness, peace and want to envelope us all in a group hug. It is all in the interests of that wonderful word that you cant disagree with because if you do you are labeled either a racist, sexist, homophobic or any other label that the left want to stick you with because they don't have a valid argument to counter the common sense view that the opposite is true. That word is "diversity". Arrcchhh!!

In the interests of my readers I will try not to use the D word again here least it make you violently sick. It is a word that has largely lost its meaning because of the corruption of it by the left.

Anyway back to the press release.

This week in New Zealand is "Muslim Awareness Week" a week of State funded hand wringing over the guilt brought on by the Wests involvement in liberating Iraq and the subsequent outpouring of vitriol against our Muslim brothers by the least sensitive of us heathens in the West. Carter and his comrades from Iraq were also involved in a march through Auckland's North Shore this last weekend to raise funds for Iraqi refugees, who doubtless, we will find some entering our shores and willing to spread the good word. Can you sense my sarcasm dear readers?

This week, sponsored by yours truly and 2 million other working Kiwis MAW will help us understand our Muslim comrades, bring us closer together and "normalise" our dual relationships:

“Nevertheless, world events have shown us here in New Zealand that it is important to promote greater communication and understanding between people of different faiths and backgrounds".


The underlying message that MAW wants to spread and being championed strangely by the openly gay Labour Minister Chris Carter is that we all just need to "understand" each other and accept other cultures:

"Ethnic Affairs Minister Chris Carter is welcoming moves by the local Muslim community to demystify their religion and customs.

Promoting greater unity among the diverse peoples who call New Zealand home is the theme of Islam Awareness Week 2007 which began yesterday. The annual event is organised by the Federation of Islamic Associations of New Zealand (FIANZ) and supported by the Office of Ethnic Affairs and the Human Rights Commission".

Bizarre that New Zealands Muslim community would use a gay minister to promote their cause because as we all know the Muslim "faith" allows that queer folk must be silenced in the most final and gruesome of ways. Of course the left and misunderstood groups do often make strange bedfellows, pun intended, to get political points across to the unwashed masses like us.

The New Zealand Labour Party and their attempt to buy Muslim votes has started and it is still over a year away from an election.

Okay you say what is the point of this column you ask yourself?

Ill stop the bullshit then.

What is clear , as opposed to the diatribe and invective postulated by Chris Carter is that Muslims as a whole do not fit well into Western society, their "culture/religion" doesn't allow it, and Muslims and their proponents have a propensity to rail against us when a few probing questions are asked say on their views of the ultimate western culture, America.

There is also the small question of the Jihad that Muslims have out on the West.

Once again the Liberal lefty media In New Zealand have lapped this up unquestioning of the thrust of this MAW week. Pathetic!

I am looking forward to a State sponsored Catholic awareness week so we can understand a priests love for young children and taxpayer funds spent so we can understand a whole group of other religions that tithe families to "help their congregation".

The message of MAW is accepted without dissent and opinion to the contrary will be labeled intolerant.

I have an adjective for my readers.

Vigilant.

c Darren Rickard