More than a decade ago, voters in California approved a measure that barred any state government agency from considering factors like race or gender when it came to awarding public contracts. 

Advocates for groups representing firms owned by women and minorities lamented the decision. But in 2001, then-mayor Richard Riordan created an initiative in Los Angeles to ensure that firms owned by women and minorities got, "an equal opportunity to participate in the performance of all city contracts."

But according to a report by Bloomberg, firms owned by white men won nearly all of the contracts awarded by the city. And by nearly all, we mean 92 percent.

James Nash, a reporter with Bloomberg, joins the show with more.