BUSINESS WATCH

Watching the business of the world and minding the world's business.

Saturday, February 17, 2007

Green is the New Black

Climate change has gone mainstream. How to tell?

#1 “Let’s Talk About Climate Change” full page ads have been appearing in the Washington Post by…Exxon. When THE BIGGEST climate change denier nonchalantly changes tact to engage the issue on its own terms rather than insisting it doesn’t exist, they have conceded the fight. The vice president for public affairs of the world's largest publicly traded oil company, Kenneth P. Cohen (no relation), said that, the company has never denied the existence of climate change. No, they have only heavily funded those that do.

#2 Bush mentioned it for “the first time” in six years in office in a State of the Union address.

#3 Lawmakers in the U.S. finally seem poised to pass legislation, which business groups may support out of fear of a patchwork of regulations in the absence of a uniform national approach. Also, a group of global lawmakers signed a resolution Thursday urging a new agreement limiting greenhouse gas emissions.

And in other cultural indicators:

#4 International benefit concerts with a cause that once covered famine aid for Africa, farmers, and poverty, now will tackle climate change. "Save Our Selves" -- SOS will be held "on 7/7/07 across all seven continents" aiming to trigger an international movement to combat global warming – with proceeds going to Gore’s foundation, btw.

#5 The main classic rock station in the Washington DC area, 94.7 FM, has banked that green is good, to paraphrase Gordon Gekko in the movie Wall Street, with a new name – The Globe, and mission: “We want to be a part of the solution.” Their web site lists the following among their top 12 priorities:

1. THE GLOBE - We All share and have a vested interest in The Globe.

3. THINK GLOBALLY, ACT LOCALLY - As a Local Radio Station, we'll support our community...because we live here too.

Of course, they also hawk global positioning gadgets with the pitch that you can find the nearest place to recycle your garbage.

Sunday, February 04, 2007

Exxon Mobil Posts Largest U.S. Profit Ever -- Again

Does a company with the largest annual profit ever by a U.S. company -- $39.5 billion in 2006, which exceeded its own previous record of $36.13 billion set in 2005, really need a tax break?