Success vs. Likeability
Transcription
Success vs. Likeability
Women’s Initiative Team 11|2013 Success vs. Likeability Combatting Outdated Gender Stereotypes In June 2009, when now Supreme Court Justice Sonia Sotomayor was going through her Senate confirmation hearings, some critics called her a “bully.” It wasn’t the first time she had been criticized for her temperament. In fact, one of her colleagues on the 2nd U.S. Circuit Court of Appeals had heard the same thing about Sotomayor when they worked together, so he spent several days analyzing her questions and general treatment of lawyers before the court. He ultimately concluded that there was no difference between her behavior and that of her colleagues. Why was Sotomayor’s behavior judged so much more harshly than that of her colleagues? According to her colleague, Judge Guido Calabresi, “It was sexism in its most obvious form.” Justice Sotomayor’s experience appears to mirror that of many women: The same words and actions that are ignored or even rewarded if they belong to a man are perceived negatively when owned by a woman. Or, as the actress Marlo Thomas so eloquently put it, “a man has to be Joe McCarthy in order to be called ruthless. All a woman needs to do is put you on hold.” So what’s an ambitious woman to do? And how can she pursue her career goals if she has to choose between being successful and being liked? In this issue of Straightline, we’ll discuss the bind women find themselves in when climbing the professional ladder, and how they can help blunt the negative effects of gender stereotypes. Sheryl Sandberg, Facebook COO and Lean In author, speaks often of the success-versus-likeability conundrum many professional women face. She cites a body of research showing that as a man becomes more successful, he is perceived as being more likeable, but as a woman becomes more successful, she is perceived as being less likeable. In one now-famous (thanks to Sandberg) example, students at Columbia Business School were asked to read a case study about a real-life successful tech entrepreneur named Heidi Roizen, except in the version half the students read, Heidi’s name was changed to Howard. The study participants rated Heidi and Howard as equally competent, but Howard “came across as a more appealing colleague. Heidi, on the other hand, was seen as selfish and not ‘the type of person you would want to hire or work for,’” Sandberg wrote in Lean In. It’s not hard to see how such a bias could impede a woman’s upward mobility: As soon as she achieves a certain level of success, she runs headlong into the perception that she’s “a queen bee” or “a bully,” and that reputation begins to work against her at promotion time. The root of the problem is gender stereotypes. Men are expected to be in charge, decisive, competitive and ambitious. Women are expected to be sensitive, caring, communal and supportive. As soon as she achieves a certain level of success, she runs headlong into the perception that she’s “a queen bee” or “a bully,” and that reputation begins to work against her at promotion time. When a woman steps out of those preordained roles, she is judged harshly by both men and women. As a result, some women—faced with the near certainty that their success will have a significant personal downside—temper their goals. They negotiate less forcefully, they promote themselves less, they advocate for themselves less, they want less. Even worse, because those women who do decide to shoot for the stars have to devote so much energy to navigating their gender expectations—making sure their communication, dress, appearance, etc., are all just right—they are distracted from their main job, which is doing a great job. Welcome to Straightline Straightline is a publication from Andrews Kurth for women, by women. We will give you the bottom line on women’s issues, be on the front line for timely, substantive legal topics, and serve as the hotline for firm news. We’ll introduce you to fresh faces at Andrews Kurth, provide a pipeline of topical legal updates, and promise to infuse some fun features, facts and resources along the way. So join us for what promises to be Straight Talk on women’s issues. No lawyerspeak. No double talk. Just the most direct line between you and our women lawyers. So how can women own their ambition, take charge and not be penalized for doing so? Unfortunately, there’s no magic dust to change the hearts and minds of those clinging to outdated gender biases, but there is much men and women can do to help send those stereotypes to the trash heap. Don’t be part of the problem Women are very often other women’s worst critics, and they can be especially judgmental toward female supervisors whom they consider to be unsupportive and difficult. If you find yourself complaining about a woman boss—or women bosses in general—be conscious of your own potential biases. If your boss is truly abusive, then you may be well within your rights to complain. But if she is behaving no worse than a male boss, then give her the benefit of the doubt. Rather than pile on when co-workers complain about the office queen bee, consider whether she would be subject to the same criticism if she were a man. Better yet, advocate on her behalf. Sometimes all it takes is one brave person to speak up to give others permission to do the same. That one small step can keep others from piling on. Continued on page 2 ©2013. Produced by Andrews Kurth’s Women’s Initiative Team. andrewskurth.com Success vs. Likeability Book Nook Continued from page 1 PAY IT FORWARD Do what you can to help other women develop their talents. By providing a supportive environment, you help other women achieve more, which can help create the kind of critical mass women need to finally dispense with outdated stereotypes. You can do that informally by being a sounding board for your friends and co-workers, or you can work to establish formal mentoring relationships. Talk up your female colleagues AND bosses If the idea of tooting your own horn gives you the willies, try chatting up your female colleagues and bosses when it’s appropriate. A team-wide email congratulating her on a job well done, an easy-to-overhear pat on the back, or a note to your boss spelling out how she impressed a client can send a big message. When other women shine, so do you. Don’t let it distract you Salt Sugar Fat: How the Food Giants Hooked Us by Michael Moss Lean In: Women, Work, and the Will to Lead by Sheryl Sandberg The Athena Doctrine: How Women (and the Men Who Think Like Them) Will Rule the Future by John Gerzema & Michael D'Antonio Ultimately, you were hired to do a job, not make friends. True, you can’t completely insulate yourself from judgments that you “aren’t a team player” or you’re “cold” because you aren’t as nice as you’re expected to be. That’s not a license to be abusive, but you should give yourself permission to put the task at hand before your own likeability. Ultimately, success can go a long way toward beating back stereotypes. Give it time The best news on the gender bias front is that there appears to be a generational shift in attitudes. The 2003 Heidi/Howard study that Sandberg cites was replicated this year, but with very A Sweet Reward Less Sugar Could Mean Fewer Wrinkles If you’re looking for another reason to cut way back on your sugar consumption, here’s a good one: not eating sugar can be a powerful weapon in your anti-aging arsenal. Of course, there are already multiple reasons to cut back on sugar—it’s been connected to cancer, diabetes, heart disease, immune suppression and, of course, good old obesity and tooth decay—but if those serious health drawbacks haven’t motivated you to step away from the cupcake, perhaps the prospect of more youthful-looking skin will. It all comes down to a process called glycation, which occurs when glucose (the end product of carbohydrate consumption in our bodies) attaches to collagen and elastin, the proteins in our skin that keep it glowy and smooth. When that happens, the result is wrinkles and saggy skin, not to mention an increased vulnerability to UV light and environmental toxins (like cigarette smoke). Of course, glycation is a natural process that occurs all the time, but excessive sugar intake bombards the system with glucose and speeds up the process. In addition to promoting glycation, some experts believe too much added sugar can actually suppress the body’s natural production of the human growth hormone. Of course, our body produces less of that hormone naturally as we age, but there’s no reason to slow it down any more. Cutting back on sugar is difficult for many reasons, most notably because our bodies need the glucose that sugar provides. But our bodies don’t need it in the form of Bundt cake or gummy bears. Our body’s preferred glucose delivery mechanism is through a slow breakdown of nutritious foods. For most of us, most of the time, slowly digested sugars are all we need. (Athletes who need quick energy during a run, ride or game are the obvious exception; their bodies don’t have time to break down a bowl of brown rice and broccoli and turn it into sugar their muscles can use.) But most of us get far more sugar than we need each day. And chances are we’re not getting it from eating too much brown rice and broccoli. We’re getting it from added sugars, whether that’s from our own sugar bowl or compliments of food manufacturers, who add it to everything from candy and sodas to pasta sauces and breads. ©2013. Produced by Andrews Kurth’s Women’s Initiative Team. different results. Unlike in 2003, in the 2013 version the woman entrepreneur was seen as more likeable and a more desirable boss than her male counterpart. Those findings were similar to a 2010 study that examined roughly the same issues. If those studies are valid and gender biases actually are on their way out, why might that be the case? According to the authors of The Athena Doctrine: How Women (And the Men Who Think Like Them) Will Rule the Future, so-called “female” leadership qualities are starting to become as, if not more, desired than “male” leadership qualities. “[T]he skills required to thrive in today’s world—such as honesty, empathy, communication and collaboration—come more naturally to women,” write the authors, John Gerzema and Michael D’Antonio. “In a highly interconnected and interdependent economy, masculine traits like aggression and control… are considered less effective than the feminine values of collaboration and sharing credit.” How did this change come about? Sandberg believes it happened because women in the workforce today are more willing to speak up when they see bias. “The first wave of women who ascended to leadership positions were few and far between, and to survive, many focused more on fitting in than on helping others,” she writes. “The current wave of female leadership is increasingly willing to speak up. The more women attain positions of power, the less pressure there will be to conform, and the more they will do for other women.” Clearly, the tide is turning, but if we want to see that change happen in our lifetimes, we have to do our part. Most experts recommend that we limit added sugar to no more than 10 percent of our total calories How much added sugar is too much? Most experts recommend that we limit added sugar to no more than 10 percent of our total calories. For someone eating a 1,600 calorie diet, that’s 160 calories, or about 40 grams of sugar. That’s less than a single decent candy bar. All day. The hard part is figuring out how much sugar in a food is added sugar. Unfortunately, food manufacturers haven’t made it easy for us to find this information, because they simply list the amount of sugar in a product. For example, a 7-oz. carton of plain Greek yogurt contains eight grams of sugar. But that’s all naturally occurring sugar in the form of lactose, with no added sugars. A 5.3-oz. container of blueberry Greek yogurt, however, contains 16 grams of sugar. It’s easy to determine that much of that sugar is Though indulging in brownies and other confections may be tempting, science tells us that we’ll feel—and look—better when we ditch the sugar fix. added sugar, but because the serving sizes are different, it’s difficult to calculate exactly how much without breaking out a calculator. Monica Reinagel, a nutritionist who hosts the weekly Nutrition Diva podcast and is the author of Nutrition Diva’s Secrets for a Healthy Diet, agrees “that’s a lot of detective work to ask the average lay person to do. But I think, deep down, we know when foods are high in sugar. And you want to try to limit the consumption of those foods.” It’s helpful to know what to look for on the label. The presence of these ingredients suggests that sugar may be added rather than naturally occurring: dextrin, evaporated cane juice, honey, malt, corn sweeteners, turbinado sugar, white sugar and the now-infamous high fructose corn syrup. “Although most people acknowledge the need to eat less sugar, actually turning that thought into action is as much a behavioral issue as a nutritional one,” Reinagel says. She recommends using whatever behavior modification method works for each individual, whether that’s replacing sweets and other sources of added sugar with another “reward”— a visit with a co-worker, a cup of herbal tea, or some other incentive you would find pleasant—or simply going cold turkey and waiting for the sweet cravings to gradually subside. “Replacing sugar-sweetened food and beverages with ones that are artificially sweetened may work for some people, but it doesn’t work for everybody,” Reinagel says. “There’s conflicting research on the effects of artificial sweeteners on appetite and insulin response, so it’s advisable to be cautious with them,” she adds. “It’s clear from a practical standpoint that the people who are consuming the most artificial sweeteners are not the thinnest,” Reinagel says. “But people who are on extremely calorie-controlled diets—and they’re extremely compliant—may find that being able to use artificial sweeteners helps them stay within their calorie restrictions.” “Artificial sweeteners may give us the sweet without the calories, but using them does nothing to alleviate our sweet tooth, which after years of sugar consumption may need to be recalibrated,” she says. “There’s something to argue against constantly bathing our taste buds and stimulating our reward centers with sweet sensations,” she says. “It creates an environment where we’re constantly looking for more.” Kicking the sugar habit isn’t easy, if only because added sugar often hides in unlikely places, giving our bodies sugar hits we don’t even know we’re getting. But those hidden sugar hits have the same effect on our bodies as the ones we get from brownies. Though indulging in brownies and other confections may be tempting, science tells us that we’ll feel—and look—better when we ditch the sugar fix. andrewskurth.com Top of the Line Start on your holiday shopping now! Our gift guide has something for everyone on your list. 1 2 Sidelines Kathleen Wu (Dallas) was featured in Law360’s Rainmaker series, which highlighted her legal acumen and civic contributions. Kathleen advised up-andcoming rainmakers to do “bulletproof ” work, think like a business owner, and view problems strategically and holistically. Above all else, she reminds young lawyers to value the client, stating, “I consider working for my clients to be a privilege, and I won’t take them for granted.” For more of Kathleen’s Law360 Rainmaker interview, visit law360.com. On October 25, Robin Russell (Houston) was the kickoff speaker at the South Texas College of Law’s 20th Annual Ethics Symposium, which this year was on Bankruptcy Ethics. Her speech was entitled “A Survey of Sanctions in Bankruptcy Court: The Fifth Circuit and Beyond.” Robin︐s comments will also be published in the South Texas Law Review. 3 4 On September 28, Elizabeth Campbell (Houston) participated in The University of Texas at Austin School of Law︐s 2013 Diversity Education Weekend. Elizabeth served on the panel “Mentoring 101/ Smart Networking.” On September 20, Joanna Kay (London) copresented “Risk Mitigation in Onshore Oil and Gas Development Projects” to 30 representatives from the Tullow Oil global in-house legal team (representatives from the UK, Ghana, Kenya, South Africa and Uganda) at their annual legal conference. Their presentation focused on risk mitigation in onshore oil and gas development projects. 6 Nancy Bostic (Houston) has been selected to participate in the 2013-2014 Anti-Defamation League’s Glass Leadership Institute program. 5 9 For the fourth consecutive year, Lynne M. Fischman Uniman (New York) was named by Super Lawyers in the Top 50 Women New York Lawyers for 2013. Vera Rechsteiner (Washington, DC) was recognized as a Leading Lawyer in the areas of Banking & Finance and Projects in Latin America by Chambers Latin America 2014. 7 8 Office Expansion 11 12 On October 2, Andrews Kurth announced the opening of Andrews Kurth (Middle East) JLT in Dubai, United Arab Emirates. This office represents clients primarily in energy-related matters, including mergers and acquisitions, joint ventures, and project development, infrastructure and finance. The new office demonstrates the firm’s commitment to serve its clients in the energy business from the Gulf of Mexico, the North Sea, the Middle East and Asia Pacific, creating an energy practice that circles the globe and draws upon the firm’s full resources and strengths. 10 Team WIT 1. Trakdot Luggage Tracking System $60, trakdot.com 2. BKR Glass Water Bottle + Silicone Sleeve $28, mybkr.com. Use promo code “andrewskurth” for 20% off your purchase. 3.Macaroon Trinket Box $10, biscuit-home.com 4.The New York Times 36 Hours: 150 Weekends in the USA & Canada $40, anthropologie.com Indicates woman-owned business 7.1:Face Watch $40, 1facewatch.com 8.Magic Carpet Yoga Mat $85, magiccarpetym.com 9.Omega Cast-Metal Juicer $200, surlatable.com 10.Bag Bolo + Key Ring $36, aplusrstore.com 5.Home State Personalized Return Address Stamp $60, paperpastries.bigcartel.com 11. Theodora & Callum Scarf $155, theodoraandcallum.com. Sign up for newsletter to receive $25 off your 1st purchase. 6.For the Cook Gift Basket $134, orangeandpear.com 12. Everpurse Chargeable Clutch $249, everpurse.com andrewskurth.com Co-CHAIRS: Bob Jewell, [email protected] Meredith Mouer, [email protected] MEMBERS: Tammy Brennig Elizabeth Campbell Marty DeBusk Deborah Grabein Amy Hancock Donna Kim Kendall Lowery Thomas Perich Shemin Proctor Robin Russell Michele Schwartz Lisa Shelton Laura Trenaman Kathleen Wu ADVISORY MEMBERS: Courtney Culver Stakem Kelli Dinneen ©2013. Produced by Andrews Kurth’s Women’s Initiative Team. Structuring Strategic Alliances by Nancy B. Bostic, Partner, Houston A cquisitions focus on a transition from seller to buyer at closing, whereas a partnership involves a strategic alliance to jointly acquire, operate and ultimately sell assets or equity. Ideally, negotiations lead to a partnership with mutually agreed provisions for risk allocation, revenue sharing, governance and a future exit. Some key considerations of the negotiating team are: New Lateral Lawyers Jubilee Easo Partner*, London Business Transactions Melanie Willems Partner*, London Litigation Structure A strategic alliance (“Partnership”) can be created by contract or by forming an entity. If assets are jointly operated by contract, the parties may have formed, and thereby become liable for, the obligations of a general partnership under state law. By forming an entity such as a limited liability company (“LLC”) or limited partnership (“LP”) to hold assets, liability exposure for the LLC’s or LP’s activities may be limited to the LLC’s or LP’s assets. • LLC or LP—The LLC or LP form affords the owners pass-through treatment for federal income tax purposes, and flexibility in limiting fiduciary duties and determining Ideally, negotiations lead to a partnership with mutually agreed provisions for risk allocation, revenue sharing, governance and a future exit. revenue sharing, voting rights and control over exits. •S eries LLC—The Series LLC is a variation of a traditional LLC that recently became available in several states. The Series LLC can create one or more series having its own assets, liabilities and owners. If the statutory requirements are met, only the assets of a given series are available to satisfy liabilities of that series. This structure may avoid forming many entities, but it is currently uncertain how a Series LLC would be treated in litigation in a state without a Series LLC statute. Capitalizing the Partnership Assets may be contributed at formation or through cash calls over time. For example: • Equity—Equity may be contributed to a newly-formed LLC if key assets are subject to a purchase option that would trigger on transfer. •A ssets—Conversely, it may be desirable to contribute assets to a newly-formed LLC if: • The existing entity has a long operating history or potentially significant historical liabilities. • The existing entity is an “S” corporation, as “S” corporations may have only one equity class and, with few exceptions, may only be owned by individuals. Allocating risk Indemnities address the partners’ concerns that contributed assets may fail to perform as agreed (typically, if representations and warranties are breached). In addition to cash payments by the breaching partner, indemnification claims may be funded as follows: Straightline EDITOR IN CHIEF: Kathleen Wu, [email protected] EDITORIAL BOARD: Donna Kim Shemin Proctor Laura Trenaman For more information, please contact Courtney Culver Stakem at 214.659.4689 or [email protected]. FRESH FACES •P artnership revenue otherwise payable to the breaching partner can be paid to the non-breaching partner to satisfy the indemnification claim. •T he breaching partner can forfeit equity in the Partnership with a value equal to the indemnification claim. Equity Classes Partners can share revenue equally, but it is more typical to create two or more equity classes, often including a class of equity to incentivize personnel. Having many equity classes affords a platform for sharing ratios for distributions, maximum capital commitments and cash call amounts on a class-by-class basis. Sharing Revenue Addressing revenue-sharing considerations can avoid disputes, especially if fewer than all partners will decide the amount and timing of distributions. For example: • Tax—Net income of the Partnership will be allocated among the owners for federal income tax purposes and taxable to the owners whether or not cash is actually distributed to the partners. As a result, distributions sufficient to fund the partners’ tax payments are often mandatory. • Preferred Return—Often, at least one equity class is entitled to receive a preferred return on its investment (in addition to its other revenue entitlements). Partners typically negotiate in advance whether tax distributions will be treated as an advance against the preferred return. Planning for a future exit reduces the potential for disputes and provides clear methods for liquidating an investment. Avoiding deadlock Partners may negotiate veto rights or supermajority voting for key Partnership decisions, such as approving an annual budget, cash calls, admitting new partners and contracts, asset sales or acquisitions over a threshold amount. Disputes can be avoided by establishing pre-set percentage changes for successive annual budgets which automatically apply if the partners fail to agree. Exit Events Planning for a future exit reduces the potential for disputes and provides clear methods for liquidating an investment. Examples include: • Benchmarks—A partner may be entitled to cease funding cash calls and convert its equity to debt if specified benchmarks are not met. • Drag-Along—Typically, partners with a controlling interest may sell the entity without consent, and the other partners waive dissenters’ or appraisal rights so long as the sale agreements have pre-agreed terms, such as liability limitations. In certain cases, instead of this type of right, the partners agree to cause the entity to be auctioned after a period of time. If partners are ultimately unable to agree on drag-along terms, often a partner is given a “put” right for a period of time to require the Partnership to purchase its equity at a pre-agreed price. • First Refusal and First Offer—If a third party offers to buy a partner’s equity, the other partners often have a “first refusal” right to acquire the selling partner’s equity at the price offered by the third party. Because of the chilling effect that this has on potential buyers, each partner may instead have a right of “first offer” to bid on equity that is for sale. The selling partner then may accept a partner’s bid or sell to a third party for a price exceeding the bid. 600 Travis Suite 4200 | Houston, Texas 77002 | Tel: 713.220.4200 | Fax: 713.220.4285 Kerry Calvert Senior Attorney, Dubai Business Transactions Wendy Cloonan Associate, Houston Public Law Rebecca Downes Associate, London Business Transactions Joanna Kay Associate, London Business Transactions Julia Houston Counsel, Austin Public Law Adele Lombard Legal Consultant, Dubai Business Transactions Lisbeth Maier Legal Consultant, Dubai Business Transactions Heather Willams Senior Attorney, Dubai Business Transactions * Upon regulatory approval New Female Fall 2013 Associates Kristin Bachmann Houston Business Transactions Jill Carvalho Austin Public Law (Litigation) Ashley Kahn Houston Litigation Nikisha “Nikki” Pasrija Houston Public Law Jillian Rae Houston Corporate “Like” us on Facebook: Andrews Kurth LLP Follow us on Twitter @ twitter.com/andrewskurthllp Find us on LinkedIn Find us on Google + ©2013. andrewskurth.com