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Three Massachusetts Women Changing the Face of Leadership – Banker & Tradesman

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Three Massachusetts Women Changing the Face of Leadership – Banker & Tradesman



Malia Lazu

Across America, organizations are celebrating Women’s History Month, recognizing the cultural, economic, scientific, and social contributions of women in America. There is no shortage of women luminaries from the past. Two personal favorites of mine are Harriett Tubman and Eleanor Roosevelt and, an activist and ally who championed civil and human rights.

But when we look back across history at women in leadership, we see two very different stories: one for white women and one for women of color. The fact is efforts to improve gender diversity have led to gains mostly by white women, as USA Today reported. For women of color, advancement into leadership has taken longer and for no other reason than systemic racism and inherent bias that determines who gets hired, developed and promoted.

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There are examples everywhere. In 1981, Sandra Day O’Connor became the first woman to serve on the U.S. Supreme Court – followed far too many years later by the first women of color to sit on the high court. In 2019, Justice Sonia Sotomayor, the first Hispanic and first Latina, was sworn in and, in 2022, Justice Ketanji Brown Jackson became the first Black woman to serve on the Supreme Court.

We see a similar pattern in corporate leadership. In 1972, Katharine Graham of the Washington Post became the first woman on the Fortune 500 list of CEOs. The real trailblazer, though, came in 2009 when Ursula Burns of Xerox became the first Black female CEO on that list.

As we look around our organizations today, we see few, if any, people of color in senior leadership – and even fewer women of color. It’s time to change the face of women in leadership to be truly inclusive: BIPOC women, Asian women, LGBTQ women, and women from other underrepresented groups.

Here in Massachusetts, we have three champions who are leading the way, not just for themselves, but also for greater equity for all.

Three Mass. Women Champions

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Mayor Michelle Wu, the daughter of Taiwanese immigrants, became the first woman and the first non-white person to lead the city of Boston. As anyone in Boston real estate development, housing and banking knows all too well, Mayor Wu ran on a platform of completely revamping the Boston Planning & Development Agency, which for too long has favored big developers at the expense of our racially and ethnically diverse communities.

Under Mayor Wu, the BPDA is in the process of being transformed, including by updating and modernizing the zoning code; ensuring development (and the approval process) is more transparent and predictable for developers and community members; and using public land for public good, with a focus on affordability.

Gov. Maura Healey made history in 2022 when she (along with Oregon Gov. Tina Kotek) became one of two openly gay governors in the U.S. During in her political career, as the first openly gay state attorney general to be elected in the country, she led the commonwealth’s challenge of the Defense of Marriage Act, which had banned same-sex marriage.

Now among Gov. Healey’s many initiatives is a push to tackle housing costs, and more specifically increasing the supply of affordable housing. The governor and her team are championing the Affordable Homes Act, which aims to create housing for all income levels in the state.

U.S. Rep. Ayanna Pressley proudly calls herself an activist, a legislator, a survivor and the first women of color to be elected to Congress from the commonwealth of Massachusetts. She does not shy away from taking on those in power, including in the banking sector. Last summer, she sent letters to the CEOs of JPMorgan Chase, Bank of America, U.S. Bank, Wells Fargo and Citi, asking for a “detailed update” on the commitments to racial equity that these financial institutions had announced so publicly in the wake of George Floyd’s murder in May 2020.

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She is calling on these big banks to heal the harm caused, not only historically but also currently in perpetuating the bias and racial inequalities within the banking system.

A Mandate for Change

These strong leaders – all of whom were elected by wide margins – are reminders of what happens when we change the face of women in leadership. Across the public and private sector–including the real estate and financial industries–we need more of these strong women leaders who come from varied backgrounds.

White women rising to the upper echelons of corporate leadership is not enough. Bold, courageous and innovative leadership requires leaders from multiple diverse backgrounds – bringing together the intersectionality of being a woman and being BIPOC, Asian, and LBGTQ. To truly change the face of leadership, women must be united in the cause – with more white women becoming allies to support and champion women of color in leadership.

Malia Lazu is a lecturer at the MIT Sloan School of Management, CEO of The Lazu Group, former Eastern Massachusetts regional president and chief experience and culture officer at Berkshire Bank and the author of “From Intention to Impact: A Practical Guide to Diversity.”

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Massachusetts

‘That comes with a price tag’: How snow removal is busting town budgets – The Boston Globe

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‘That comes with a price tag’: How snow removal is busting town budgets – The Boston Globe


“The way we experience climate change is through extremes,” said Shel Winkley, a meteorologist at Climate Central. “All of that comes with a price tag.”

Across the region, officials are trying to figure out how to pay that price. The Massachusetts Department of Transportation has already spent more than $185 million on snow and ice removal this winter — about $20 million beyond what was spent during the “Snowmageddon” winter of 2015. State officials are weighing whether to seek aid from the Trump administration.

Providence has had to cap spending for the rest of the fiscal year after record-setting snowfall. In Boston, where officials have trimmed the snow removal budget, the city was on track to spend nearly double what it had set aside for winter cleanup — even before the February blizzard hit. Cambridge has spent $6 million, more than 10 times the placeholder amount it budgeted for winter cleanup.

“This is an additional pressure point on an already pressurized budget situation,” said Adam Chapdelaine, executive director of the Massachusetts Municipal Association. “In some communities, it’s likely going to force some hard decisions.”

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In Edgartown, officials want to tap into budget reserves to make up the cost, a step that requires voter approval. If voters don’t support that move, it could mean raising taxes, said James Hagerty, the town administrator.

A boardwalk at the Seaport District in Boston still has some salt and ice melt deposits on the wooden boards along with some snow, on Mar. 2.David L. Ryan/ Globe Staff

Local officials said federal funding would help, but they’re not counting on it. Some worried that partisan disparities in which states have received disaster funding under the Trump administration would put Massachusetts at a disadvantage.

“We are hopeful that the state and federal government might step in to assist, but it’s just waiting at this point,” said Gregory Berman, Chatham’s director of natural resources.

The skyrocketing costs are yet another reminder that winters here don’t feel the same. New England is largely trending toward shorter and milder winters. Massachusetts has lost about 30 days of snow cover each year over the last few decades.

However, experts say the relationship between climate change and total annual snowfall is more complicated. Think of it as two competing forces. On one hand, global warming increases the amount of moisture in the atmosphere; when conditions are cold enough, this added moisture can fuel heavier snowstorms. On the other hand, rising temperatures mean that winter precipitation falls more frequently as rain than snow.

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The data reflect this mixed picture. An analysis of historic snowfall totals by Climate Central, a nonprofit that conducts climate change research, found that annual snowfall has actually increased over the past 50 years in Boston and parts of coastal Massachusetts, while inland areas have seen declines.

Looking ahead, researchers project that the most intense storms may become even heavier, producing more snow than blizzards past. This shift may already be underway. In the past 40 years, Boston has recorded 10 snowstorms that produced at least 20 inches of snow. In the eight decades prior to that, there were just three.

These massive storms can trigger extra expenses, as municipalities have to pay for equipment rentals, contractors, and overtime for cleanup around the clock.

Julie Wormser, chief climate officer in Cambridge, said that total snowfall data surprised her.

“Based on how quickly the ocean is heating up off New England, my bet is that the next 50 years of data will reverse that snowfall trend,” she said.

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Cities and towns in Western Massachusetts, Cape Cod, and the North Shore were hit especially hard. This winter, they received more than two feet of snow above their average.

Snowfall totals were higher compared to the seasonal average across Massachusetts from Dec. 1 to March 15.Iowa Environmental Mesonet (IEM)

On Cape Cod, Sandwich officials overspent their snow budget by $250,000, driven largely by the February blizzard. Town Manager George “Bud” Dunham said a day of minor plowing and treating roads can cost about $10,000, but major storms push that figure past $50,000. The town is still cleaning up downed brush and tree limbs.

If not for the storm, Dunham said, the town might have invested in new snow equipment or set aside funds for retired employees’ health insurance costs.

Mattapoisett, a coastal community on Buzzards Bay, also blew through its budget, spending nearly triple what officials had set aside. Still, Michael Lorenco, the administrator, said the town should be able to absorb the hit within its $37 million budget without raising taxes.

“I’m not a scientist, but towns near the coast seem to be getting more snow than they normally would in the past,” Lorenco said.

That doesn’t change the city’s responsibilities.

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“Climate change or not,” he added, “we have to clean up the roads.”

Ken Mahan of the Globe staff contributed reporting.


Kate Selig can be reached at kate.selig@globe.com. Follow her on X @kate_selig.





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Massachusetts

Massachusetts bakery that made signature pizza trays for more than 100 years closes for good

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Massachusetts bakery that made signature pizza trays for more than 100 years closes for good



A Framingham institution that has been in business for more than a century closed its doors for the final time on Sunday.

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Framingham Baking Company, known for its signature pizza trays, has officially shut down permanently. Crowds have been lining up around the block in the shop’s final days, with Sunday serving as their last day in business.

“That’s a wrap! Special thanks to all of our loyal customers! It was a great run. We love you!” Framingham Baking Company posted on Facebook Sunday after selling its final slices of pizza.

Founded in 1917, the bakery on Waverly Street became known for the square pizza slices.

The third-generation owners say they couldn’t find anyone to take over the business.

“We’re closing today after 109 years in business,” owner Joan Thomas said. “My grandparents, my parents, and my siblings – three generations have run this bakery.”

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Customers explained why they were willing to wait in long lines to get their hands on some treats one more time.

“So many years of eating this pizza, and the bread, and the cookies. You had to be there for the end,” one woman said.

“My grandfather was a delivery guy for a long time. My first job was riding around with him in the van delivering to all the local restaurants. It’s tough to see it close, but it’s had an amazing run. Here for my last delivery. Bring some pizza home to my family,” another man added.

One customer waiting in line said it wasn’t just pizza the Framingham Baking Company provided, it was memories.

“Brought it to the cousins’ every birthday party, every gathering. Any time there was family there was pizza,” he said. 

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Massachusetts’ middle-class income range is highest in US., topping out at over $200K

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Massachusetts’ middle-class income range is highest in US., topping out at over 0K


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Your household can earn more than $200,000 a year and still be considered part of the “middle class” in Massachusetts, according to a recent study by SmartAsset.

Massachusetts ranks as the top state with the highest income range for households to be considered middle class, based on SmartAsset’s analysis using 2024 income data from the U.S. Census Bureau. The Pew Research Center defines the middle class as households earning roughly two-thirds to twice the national median household income.

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According to a 2022 Gallup survey, about half of U.S. adults consider themselves middle class, with 38% identifying as “middle class” and 14% as “upper-middle class.” Higher-income Americans and college graduates were most likely to identify with the “middle class” or “upper-middle class,” while lower-income Americans and those without a college education generally identified as “working class” or “lower class.”

Here’s how much money your household would need to bring in annually to be considered middle class in Massachusetts.

How much money would you need to make to be considered middle class in MA?

In Massachusetts, households would need to earn between $69,900 and $209,656 annually to be considered middle class, according to SmartAsset. The Bay State has the highest income range in the country for middle-class households. The state’s median household income is $104,828.

In Boston, the range is slightly lower. Households need to earn between $65,194 and $195,582 annually to qualify as middle class, giving the city the 19th-highest income range among the 100 largest U.S. cities. Boston’s median household income is $97,791.

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How do other New England states compare?

Massachusetts has the highest income range for middle-class households in New England. Here’s what households would have to earn in neighboring states:

  1. Massachusetts (#1 nationally) – $69,885 to $209,656 annually; median household income of $104,828
  2. New Hampshire (#6 nationally) – $66,521 to $199,564 annually; median household income of $99,782
  3. Connecticut (#10 nationally) – $64,033 to $192,098 annually; median household income of $96,049
  4. Rhode Island (#17 nationally) – $55,669 to $167,008 annually; median household income of $83,504
  5. Vermont (#19 nationally) – $55,153 to $165,460 annually; median household income of $82,730
  6. Maine (#30 nationally) – $50,961 to $152,884 annually; median household income of $76,442

Which state has the lowest middle-class income range?

Mississippi ranks last for the income range needed to be considered middle class, according to SmartAsset. Households there would need to earn between $39,418 and $118,254 annually. The state’s median household income is $59,127.



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