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though the gains do not match those of women gener- ally. In 1955 an African American, Hispanic, or Asian general counsel at a major U.S. company would have been extremely unlikely and that, thankfully, is no longer the case. Today, some of the most famous American compa- nies—such as McDonald’s and Google—employ general counsel of color. T e recent economic downturn has hit
THE COMPANIES THAT HELP LEAD THE U.S. ECONOMY MUST ALSO DEMONSTRATE THE SUCCESS OF THE AMERICAN CONCEPT OF MELTING POT MERITOCRACY.
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minorities especially hard and progress is sometimes halting and uneven, but the continuing diversifi cation of the U.S. populace makes advances in this area seem inevitable. Many of the companies on the original Fortune 500
list are no longer important or even in existence. Younger, quicker rivals have taken their place, often in industries unknown more than half a century ago. T e Fortune 500 list itself, however, has only grown in importance. Year after year the list attracts an enormous amount of attention from the public and generates thousands of news stories in this country and abroad. People pay attention to the Fortune 500 list because it tells us who are the biggest, the most successful, the most profi table, and the most infl uential American companies. T e companies that drive much of the U.S. economy are on that list. T ose companies matter enormously to America and that’s why it is so important that women and minority lawyers make progress in those companies. As women and minorities become more numer- ous and important in American society, it is essential that they make gains in the Fortune 500. T e companies that lead the U.S. economy must also demonstrate the success of the American concept of melting pot meritocracy. We watch the Fortune 500 and the progress made by women and minority lawyers at those companies because it matters to women, to minorities, and to America.
SEPTEMBER/OCTOBER 2011 DIVERSITY & THE BAR®
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