Women: Good Sports?

Does women’s sports need more women coaches? Kavitha A. Davison writes:

The percentage of women coaching women has steadily dropped over the last four decades, owing to new positions and salaries as well as old stereotypes and biases. A common explanation, still touted by men and women alike, is that female coaches often choose their families over their careers. But that excuse doesn’t fly in the boardroom, and it shouldn’t fly on the bench. Plenty of qualified women want to be coaches, and it’s a problem with the system that they’re not.

Ironically, a major culprit seems to be Title IX, enacted in 1972 to ensure equality for women on campus. According to Women in Intercollegiate Sport, a longitudinal study conducted every two years since 1977 by R. Vivian Acosta and Linda Jean Carpenter, professors emerita at Brooklyn College, more than 90 percent of women’s college teams were coached by women when the law went into force.

Title IX has served female athletes well, helping to raise the level of competition and quality of women’s sports. But as women’s teams got better, coaching them suddenly became more desirable — and lucrative — positions for men. Head coach of a woman’s college team is now a legitimate and financially viable position for a man to hold. While their salaries don’t hold a candle to what their counterparts in men’s basketball get, Division I women’s basketball coaches can make well into the six figures, while a handful of top coaches such as legendary former Tennessee Lady Vols coach Pat Summitt and UConn coach Geno Auriemma can make millions.

With more men increasingly applying for these positions, it’s worth looking at whose doing the hiring. The Acosta/Carpenter study is a treasure trove of data, but some of its most telling sets of numbers are those on college athletic directors. Across Division I, Division II and Division III teams, the percentage of female college coaches of women’s teams is universally higher under female athletic directors.

That fewer female coaches are hired for women’s teams under male athletic directors can largely be explained by networking bias.

Gendered networking by male athletic directors isn’t necessarily intentional. But some recent high-profile personnel decisions seem to reveal the sexism female coaches can face from male administrators.

Then there’s University of Minnesota Duluth women’s hockey coach Shannon Miller, whose contract will not be renewed after March. The Boston Globe’s Shira Springer neatly sums up Miller’s bona fides: “Five NCAA Division 1 titles. Fastest coach to 300 wins in Division 1 history. Career winning percentage near .700. Head coach of the Canadian women’s Olympic team at the 1998 Nagano Games.” With 380 career victories, she’s fourth all-time in Division I women’s hockey history. Yet she’ll be out of a job after 16 seasons because of what athletic director Josh Berlo calls “financial considerations.”

Inevitably, people will ask, why does it matter whether women or men are in these jobs? Because more female athletic directors would help women’s sports be taken more seriously among university administrators, which will only help the growing number of high-quality female athletes. Diversity in coaching hires doesn’t just benefit qualified women who seek equal opportunities, it also helps the players. Much like in business or academia, female athletes need mentors and role models, women who hold positions to which they can aspire and who demonstrate that a career in athletics isn’t just for the men. Women’s college rosters include not just the next Diana Taurasi and Jenny Finch, but also the next Pat Summitt and Becky Hammon.

The good news is that the number of women doing the hiring is on the rise. According to Acosta and Carpenter, the NCAA had 239 female athletic directors in 2014, an 11 percent increase since two years before. And with women such as  Griesman and Miller refusing to stay quiet, it continues to shed light on the barriers women face until they’re fairly represented in both the front office and the sideline.

Harvard coach

Big Bucks, Bad Food Heinz/Kraft?

Matt Levine writes: To recap that math: Berkshire Hathaway and 3G Capital together invested $8.5 billion in the common stock of Heinz two years ago. (Berkshire also invested $8 billion in its preferred stock.) Yesterday, they announced that they were investing a total of an additional $10 billion in Heinz’s stock, in order to fund a cash payment to Kraft shareholders as part of Heinz’s merger with Kraft. I did some loose calculations and concluded that the market valued the combined company at about $83 billion, giving Heinz an equity value of about $42 billion. This math was fairly uncontroversial. I then said: Well, okay, Berkshire and 3G invested $10 billion in cash yesterday,  so that’s worth $10 billion. That means that their shares in Heinz — the ones they bought for $8.5 billion two years ago — are worth $32 billion, roughly quadrupling their money.

I got some resistance to that math. The theory behind the resistance was, more or less: No, the $10 billion in cash isn’t worth $10 billion, it’s worth more. The value accruing to Heinz isn’t just the value of the standalone company — it’s not like Heinz has, by itself, quadrupled in value in two years.  Instead, what makes Heinz’s share of the combined company worth $42 billion is the combination: Heinz has jumped in value in large part because of the Kraft deal, and to get the Kraft deal Berkshire and 3G had to kick in another $10 billion. So the real math is that they’ve put in $18.5 billion for a thing worth $42 billion — still a quite respectable 130 percent return on investment.

This is a pleasant philosophical debate — neither version is exactly “right” or “wrong” — but it also has practical implications for some people. For instance, if you are a manager of Heinz paid in stock options, you want that full $32 billion valuation attributed to your work, and none of it to the new money coming in: You want that new money to buy in at, effectively, a $42 billion post-money Heinz valuation.  And that’s a subject for negotiation in the merger agreement. The new money buys some number of shares. The more shares it buys, the better deal the new money is getting, and the lower the returns on the old money. (Since both new and old money come mostly from Berkshire and 3G, this may not matter too much.

 

heinz math 2

Roughly speaking, Berkshire and 3G are valuing their initial Heinz equity stakes — which they bought for $4.25 billion each two years ago — at about $12.8 billion each, more than tripling that money (on paper). They’re attributing $14.6-$17.9 billion of value to their new $10 billion equity investment — a 46 to 79 percent return in, um, no time at all. (Put another way, that new $10 billion came in at a valuation for standalone Heinz of about $26 to $29 billion.) But fair enough: That money is what allowed them to do this deal, and Heinz is worth more to Buffett and 3G with Kraft than without it.

Heinz:Kraft

Amazon Promotes Women


Holly Rosen writes:  According to the Geena Davis Institute on Gender In Media, only 31% of speaking roles are given to women.  The problem is even worse when you look beyond roles given to young, predominantly white, women in their twenties. It is hard for women to get meaningful roles and remain consistently working in the entertainment industry, and that goes for behind the scenes as well.

”Amazon

Image: Amazon StudiosHowever, Amazon Studios appears to be a solution for women in Hollywood. Its new platform for streaming video is bringing a slew of interesting female roles, as well as presenting new opportunities for artistic freedom and creativity to producers and creators. New shows are joining the successful Golden Globe winner, Transparent, which is written and created by Jill Soloway, on the Amazon platform.

Down Dog, produced by long-time producer and Are You There, Chelsea? writer Robin Schiff, is one of a new slate of 13 pilots with only one episode in the can, featuring a cast primarily made of women with a plot line that revolves around a yoga studio including Nikita alum Lyndsy Fonseca, Paget Brewster and Orange Is the New Black‘s Alysia Reiner.

Alpha House features a cast with solid female roles played by Julie White, Amy Sedaris, Yara Martinez, Brooke Bloom, Alicia Sable and Wanda Sykes.

Women are all over Amazon programming. There’s also the Leslie Bibb starring in Salem Rogers, directed by Mean Girls helmer Mark Waters, written by newcomer Lindsey Stoddart, with a cast that includes Rachel Dratch and Jane Kaczmarek, as well as Mozart in the City starring musical legend Bernadette Peters.

”Amazon

Image: Amazon StudiosAmazon is changing the ratio….quietly and skillfully in a few ways.

Actresses associated with Amazon’s programming are lauding Amazon for creating shows other networks aren’t daring to produce. They like the roles available when stories focus on edgy topics, and are gravitating toward the freedom of expression offered by the streaming video network.

”Amazon

Image: Amazon StudiosThe shows deal with real issues that are meaningful to women such as transgender equality, family, relationships, politics and life decisions.

The studio is also hoping that its philosophy on gender will take its programming to new heights, and it’s happening on both sides of the camera. With Transparent, 20 trans people have been hired in the cast and crew, and 60 have been employed as extras.

”Amazon

Image: Amazon Studios
Can Amazon Studios continue to pave new ground for women in television and film and change the ratio? Time will tell, but they clearly are off to a solid start.

 

Iran Opening?

US officials said they can see a “path forward” to reaching a political agreement with Iran on the major elements of a final nuclear deal by the end of the month, in just six days’ time.

“We very much believe we can get this done by March 31,” a State Department official said.

“I don’t think we saw that before the last round,” the official added, referring to talks between Kerry and Iran Foreign Minister Mohammad Javad Zarif held in Lausanne March 15-20.

Kerry is due to resume talks with Zarif at a Swiss lakeside hotel here the morning of March 26. The schedule after that, including the possibility of other foreign ministers from the P5+1 (the five permanent members of the UN Security Council plus Germany) joining the talks remains for now very fluid, officials said. Kerry’s schedule after March 26 simply says “negotiations,” the US official said.

Ahead of Kerry’s arrival late March 25, lead US negotiator, Under Secretary of State Wendy Sherman, held talks with her Iranian counterpart, Deputy Foreign Minister Abbas Araghchi, to set up the Kerry-Zarif meeting. As in the last several meetings, US Energy Secretary Ernest Moniz and the head of the Atomic Energy Organization of Iran Ali Akbar Salehi are also due to attend the Lausanne talks. It is unclear if Iranian President Rouhani’s brother Hossein Fereydoun will attend, after the death of his mother last week.

“We are focused on getting a political framework that addresses all the major elements [of a comprehensive Iran nuclear deal],” the senior State Department official said.

If a political agreement is able to be reached, it is not yet clear exactly what form it might be released at least publicly, officials said.

“The goal is to have an agreement with Iran on as many specifics as possible,” the US official said.

Negotiators have given themselves an additional three months — til the end of June — to complete highly technical annexes that would accompany any comprehensive deal reached.

In the face of criticism from Israel and some members of Congress, the White House has fiercely defended the merits of a solid nuclear deal as the best way to ensure that Iran does not obtain a nuclear weapon.

“The bottom line is this — compared to the alternatives, diplomacy offers the best and most effective way to prevent Iran from obtaining a nuclear weapon, and this is our best shot at diplomacy,” White House chief of staff Denis McDonough told the J Street conference March 23.

Iran deal