The Woman Trying To Clean Up Boeing's 737 MAX Mess. Plus ...

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This morning, microfinance organization Grameen America announced that it is raising $600 million in capital to invest in 750,000 women-owned businesses over the next 10 years.

“Women entrepreneurs are the future of America,” Grameen CEO Andrea Jung told me. “And access to capital hasn't been equitable, but it's time and the reason that we're announcing this very important initiative is to make sure that we bridge that gap.”

Jung and I connected this morning after talking about the news on Morning Joe, alongside show cohost and Mika Brzezinski and MSNBC contributor Huma Abedin. During the segment, which you can watch here, Jung mentioned that the female business owners who receive loans from Grameen have a 99.5% repayment rate—and this is on loans that have the ability to convert to grants in the event an entrepreneur cannot meet the repayment terms.

Too few people—and too few investors, loan providers and grantmakers—know this statistic, Jung says. “One of the number one questions asked of me is how do these women who are denied credit by the formal capital markets have a 99.5%, 99.8% and in some cases 100% repayment rate? It’s about believing in them,” Jung says. “They never let us down.”

Cheers!

Maggie McGrath

P.S.: Jung was one of the judges on the inaugural 50 Over 50, and she spoke about what she looked for in assessing candidates. It’s a competitive process, she said, but that doesn’t mean you should be discouraged. And so, for my weekly reminder: Nominations for the 2024 50 Over 50 list are officially open, so if you are creating your greatest professional impact after the age of 50, please head to this link here to nominate yourself today!

Exclusive Forbes Profile: Meet Stephanie Pope, The Woman Trying To Clean Up Boeing’s 737 MAX Mess

Boeing Chief Operating Officer Stephanie Pope. (Photo by Geoffroy VAN DER HASSELT / AFP) (Photo by GEOFFROY VAN DER HASSELT/AFP via Getty Images)

AFP via Getty Images

When Stephanie Pope was appointed chief operating officer of Boeing in December, the reaction of many outside the company was, “Stephanie who?” A little-known finance specialist who had most recently run the smallest of Boeing’s three divisions, devoted to aftermarket parts and services, the surprise promotion was seen as giving Pope the chance to gain the operational experience to succeed CEO David Calhoun in another few years.

Under pressure from federal investigations and airline customers furious over delays in receiving their aircraft, Boeing’s board announced last week it would begin searching for a new CEO to replace Calhoun, who said he would leave by year-end. Pope, 51, was abruptly given the job of running its commercial airline business, taking over from Stan Deal. Now it seems less likely that Pope will take over as CEO...

ICYMI: News Of The Week

From left: Vladimir Danila, PinkPantheress, Madeline Argy, Hendrik Kramer

PHOTOGRAPHY BY LEVON BISS FOR FORBES (4); PINKPANTHERESS BY STEPHANE CARDINALE/CORBIS/GETTY IMAGES

The 2024 Forbes 30 Under 30: Europe list came out this week, and the entrepreneurs included in this year’s roundup hold tremendous economic power: They have raised more than $1 billion for companies that are reinventing the tired trucking industry, combating climate change and redefining elderly care, among other initiatives.

The Arizona Supreme Court ruled Tuesday the state can enforce an 1864 law that makes it a felony to perform abortions with almost no exceptions—but a state ballot issue could effectively nullify the ruling if approved by voters. Meanwhile, some Republicans who previously voiced support for federal abortion restrictions are softening their stance after former President Donald Trump said policies should be decided at the state level.

Four-time Grammy Award-winning artist Missy Elliott announced her first-ever solo-headline tour—which will open in Vancouver on July 4 and run until the end of August. Elliott said that fans have long been asking for a solo tour, but she "wanted to wait until I felt the time was right because I knew if I was ever going to do it, I had to do it big.”

The men’s basketball NCAA National Championship increased its viewership over last year’s final game—but fell short of the women’s championship for the first time ever, after failing to draw in the record-breaking viewership the women’s matchup saw on Sunday.

Speaking of the women’s NCAA finals, South Carolina’s victory over Iowa was groundbreaking in a number of ways, particularly for Gamecocks head coach Dawn Staley, who is the only individual to win the Naismith Award as both a player and a coach, and is the first Black coach to win three Division I national championships

The Checklist

1. Find your “why.” Trailblazing creator and comedian Lilly Singh sat down with Moira Forbes to talk about her career, breaking barriers (for two years she was the executive producer and host of a late-night talk show on NBC, and was the first Indian-American to do so), and how she’s come to define success for herself.

2. Resist the lure of the “overwork premium.” Hustle culture exists because working long hours in the U.S. leads to higher raises, bigger bonuses, and more and faster promotions. Yet this is not meritocracy at its finest: New research finds that the American obsession with long work hours disadvantages women in two distinct ways: one way if women don’t overwork, and another way if women do.

3. Reconnect with a former colleague. Even if you’re not looking for a new job or career pivot, keeping up with colleagues gives you market intelligence on what is happening in different companies, industries and geographies. Here are five sample emails you can use to restart a dormant connection.

The Quiz

This week’s total solar eclipse no doubt brought many stunning photos to your timeline, and it also drove a resurgence of certain celestial songs on top music charts. Which of the following songs or albums ranked highest on U.S. iTunes charts as of Monday afternoon?

A. “Here Comes the Sun” by the Beatles

B. “Total Eclipse of the Heart” by Bonnie Tyler

C. Pink Floyd’s album “Dark Side of the Moon”

D. “Dancing in the Moonlight” by King Harvest

Check your answer.

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