Blakely launched Spanx in 1998 with just $5,000 in her pocket, which she had earned from selling fax machines. Her vision at the time was to create a product for women to wear under clothing, that helped them feel more comfortable. She chopped the legs off a pair of control-top pantyhose to create her prototype. The resulting product was an immediate hit with women.
Only 11 percent of fund managers in the U.S. are female as of the end of 2020, including those of open-end and exchange-traded funds in equity, fixed-income, and allocation strategies, according to Morningstar. The percentage has remained unchanged for the past decade. Individual funds that are managed only by women dropped to 2 percent in 2020, from 6 percent in 2001.
A new industry-specific analysis of data from the latest Women in the Workplace report, a McKinsey collaboration with LeanIn.Org, reveals a leaky pipeline from which women are falling out in greater numbers as they progress up the career ladder, resulting in significant inequality at the top.
President Biden and Vice President Harris believe that advancing gender equity and equality is fundamental to every individual’s economic security, safety, health, and ability to exercise their most basic rights.
Over the past 20 months, the pandemic has exposed long-existing fault lines in our communities. At an alarming rate, millions of women dropped out of the workforce, staying home with their kids as schools and daycares were closed, and looking after loved ones full-time. The working mom or parent is facing the conflict of being present or being paid. The sacrifice of either comes at a great cost.