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The board of directors of Chase Manhattan Bank and Chemical Banking announced today that they have voted on a $10 billion stock swap to merge the two banks in an effort to save $1.5 billion annually. The banks said that the new bank, which will maintain the Chase name, expects double-digit per-share earnings and a return of equity of at least 18 percent. This merger, still pending shareholder and regulatory approval, will make Chase the largest bank in the United States, unseating Citicorp.
The merger, however, will result in the loss of approximately 12,000 jobs. Women, who comprise two-thirds of the banking workforce, stand to suffer a diproportionate share of these layoffs. Although heralded as creating the number one bank, this merger actually represents a setback for women who are in or entering the workforce. This setback, coming at a time when some claim that women no longer need affirmative action, is a system of the difficult times women face in the workforce. Downsizing in the white-collar professional, clerical, and communications workforces threatens women’s jobs in the latter half of the 1990’s, much as blue-collar jobs losses in the 1970’s and 1980’s threatened men's jobs.
8/28/1995 - Thousands of Women Arrive Safely in Beijing
Delegates and activists arrived in Beijing Monday ready to begin the United Nation's Fourth World Conference on Women. Approximately 24,000 activists are expected to participate in the Non-Governmental Organizations Forum, which begins Wednesday and runs through September the eighth. The conference itself, which runs from September the fourth to the fifteenth, is expected to draw 6,000 delegates. Though last minute changes by the Chinese government of the NGO Forum's site and trouble by many participants with hotel reservations and visas caused early speculation of a chaotic conference, the initial arrival of persons was handled in an organized fashion. Conference organizers prepared the meeting hall and directed participants towards registration tables and buses without long delays or confusion.
The Feminist Majority's own delegation arrived in Beijing safely and travels to the NGO Forum site today. Look at our Fourth World's Conference on Women section for our delegation's up-to-the-minute Forum news, platform information and reports.
1/21/1995 - Rock for Choice Roe v. Wade Anniversary Show
Taking an electric and eclectic stand against anti-abortion violence,Primus, Fishbone, Face to Face, No Doubt, The Geraldine Fibbers,Possum Dixon, Weapon of Choice, and Stone Fox performed during the Feminist Majority's Rock for Choice Roe v. Wade anniversary show at the Hollywood Palladium on January 21st.
San Francisco based Stone Fox started the night with a roar of powerful female voices. Two years ago they helped organize their own satellite Rock for Choice show in the Bay Area. Also from the Bay Area, headliners Primus shared their quirky brand of rock and roll.
Joined on stage by Mavnard Keenan from the Los Angeles arena rock band TOOL, Primus performed an
unforgettable version of Led Zeppelin's "Immigrant Song.
Carla Bozulich from Ethyl Meatplow debuted her new band the Geraldine Fibbers. Now playing her own brand of countrified rock, Carla continues to be an outspoken feminist voice in the music community. Leading the call to action was Angelo Morey from Los Angeles' Fishbone, demanding that kids get involved and make their voices count for women's rights. Face to
Face, an up and coming Orange County based group, announced their plans to put out a single benefiting
Rock for Choice with East Coasters the Mighty Mighty Bosstones.
In response to the brutal murders by an anti-abortion extremist in Brookline, MA, concert goers signed large scrolls expressing outrage. A plea for a continuing
investigation of anti-abortion violence addressed to President Clinton and Janet Reno was also circulated. Thousands of young people were encouraged to register to vote, get informed and get active in the fight to defend their reproductive freedom.
The January 21st sold-out concert helped raise critically needed funds for the Feminist Majority's abortion rights work.