How generous are American CEOs?

Item from a hurricane Katrina-related Washington Post story last month: "John D Podesta, former chief of staff to President Bill Clinton and head of a leading Democratic think tank, says Democrats must start by casting Bush's brand of conservatism --emphasising an 'ownership society' elevating individualism and private enterprise -- as fundamentally flawed and hostile to society's collective responsibility to help citizens."

Really? The hole in Podesta's logic is of Category 5 size. Which groups did the better job in aiding Katrina's victims -- government or the loathed individuals from the netherworld of "private enterprise"? That's easy: the private sector.

Government, at all levels, failed New Orleans. Paralysis prevailed in the public sector -- from Mayor Ray Nagin to Governor Kathleen Blanco to the Bush Administration. But it is the poor souls stripped of their dignity and initiative by living for 40 years under the umbrella of welfare who are paying the price.

Private wealth -- from mighty companies to ordinary people -- acted quickly and effectively:

Wal-Mart, even before Katrina hit, had mobilised its world-class distribution network to stock New Orleans-area stores with bottled water, canned food and other essentials. It gave $3 million worth of items, $2 million to the American Red Cross and Salvation Army and has pledged $15 million to the relief fund run by former Presidents George H.W. Bush and Bill Clinton.

According to published accounts the Walton Family Foundation has donated $8 million to the Bush-Clinton Katrina Fund and $7 million to relief organisations, including the Salvation Army, America's Second Harvest, a food-bank network, and the Foundation for the Mid South.

Microsoft engineers, in four days, developed Katrinasafe.org, a Web site to help evacuees locate missing family members.

IBM and Lenovo sent more than 1,500 laptop and desktop computers, worth more than $1 million, to several Katrina relief groups.

Home Depot gave $1.5 million to relief efforts. As of mid-September its employees, on their own, had given $700,000.

"Dependence [on welfare]," said FDR (Franklin D Roosevelt) in 1935, "induces a spiritual and moral disintegration fundamentally destructive to the national fiber. To dole our relief in this way is to administer a narcotic, a subtle destroyer of the human spirit."

The creation of wealth does the opposite. It builds up the human spirit. It strengthens the national fiber.

Forbes, in a recent issue celebrated the 400 richest people in America, most of whom have inspired us and strengthened the national fiber.

Bill Gates got rich by selling tools of empowerment to regular folks. That wasn't enough for Gates; his foundation now gives away billions of dollars for medical research and drugs in Africa.

Google's Sergey Brin and Larry Page have gifted the world with free search. Do we ever stop to say thanks? In ancient times the Library of Alexandria held the collected knowledge of the Western world. Its more than 400,000 scrolls were the first systematic and serious collection of documentation on physics, literature, mathematics, medicine, astronomy, biology and engineering. The only trouble was that you had to physically be in Alexandria in order to tap into its resources. Now you can be in Bangalore, India or Bippus, Indiana.

Does it trouble you that Netscape founder Jim Clark is a centi-millionaire who drinks fine wine and sails on a 292-foot schooner? I think we got his efforts cheap! Thanks to the Web browser, for example, penniless pastors in Africa can walk to their post offices and download sermons and community health tips from Pastors.com.

The fruits of capitalism go beyond its ennobling products and services. Go to Forbes.com and type in "Katrina billionaires" in the search box. You can then read about American billionaires' charitable responses to the devastation of Katrina:

Paul Allen, Microsoft cofounder, is giving $500,000 to the Red Cross for immediate relief efforts for food, shelter and medical care. He pledged another $500,000 to aid in longer-term efforts.

Bill Gates and his wife are giving $1.5 million to the American Red Cross, $750,000 to the Baton Rouge Area Foundation, $500,000 to America's Second Harvest and $250,000 to the NAACP. Meanwhile, Microsoft is working closely with local and state governments and businesses to help repair IT systems and is giving away $9 million in cash, technology and hardware.

Michael Dell and his wife pledged $2.5 million to be used immediately and another $2.5 million to help in rebuilding. Dell's company pledged $1 million in cash, set a target of $1 million in employee donations and gave away computers, servers and storage units.

Robert McNair, majority owner of the Houston Texans football team, and his wife, Janice, are giving $1 million to the Red Cross Disaster Relief Fund to help displaced Gulf Coast residents now taking refuge in Houston. McNair has also offered to let the New Orleans Saints use Reliant Stadium, where the Texans play.

Oprah Winfrey, the billionaire Queen of Talk, was one of the first celebrities to visit the Gulf Coast. A native of rural Mississippi, Winfrey delivered an emotional broadcast from New Orleans on September 6, just days after the hurricane. Her charity gave $1 million to America's Second Harvest and reportedly shipped 500,000 bottles of water to the area via FedEx.

Don't get me wrong. I'm all for effective government. But government's problems are for government to solve. Kicking America's "ownership society," à la Podesta, is never the answer.

...Wal-Mart, even before Katrina hit, had mobilised its world-class distribution network to stock New Orleans-area stores with bottled water, canned food and other essentials. It gave $3 million worth of items, $2 million to the American Red Cross and Salvation Army and has pledged $15 million to the relief fund run by former Presidents George H.W. Bush and Bill Clinton.

"And our huge, multi-billion dollar company gave $250,000, plus they'll match our donations provided they go to the Red Cross."

Corporations aren't in the donation business. They make money for their investors. The investors can donate their money if they choose to do so, but when a corporation donates money, it's donating someone else's money.

"I'm more impressed by Afghanistan giving $100,000, and a group of tsunami victims that scraped together $2,600."

That is extremely impressive and generous.

FREEPER ECONOMIST ALERT! This is a good thread for my question, hopefully there will be an Economist that can explain how the Socialist haters manage to crank out numbers and graphs like the ones in my link below.

Their premise is that the U.S. is dead LAST (practically) in Charitable giving.

I know it's pure dee Horse Hockey, and what they have done is "adjusted" and pencil-whipped the numbers by assuming that ALL of their Socialist spending factors into their "Charitable" giving.

I also think it's because no economy is easily comparable to ours, but..

I would like for someone with a bit of Economics to explain how these numbers have become so cockeyed.

They have to be leaving SOMETHING out, -forgiven debt, personal charitable contributions SOMETHING...

Please take a look at this graph and someone enlighten me on how they can get away with this CRAP every time a calamity comes along.

http://www.nationmaster.com/graph-T/eco_eco_aid_don_cap

Luxembourg and Norway!!!??? PUH-LEEEEEEEEEEEZ!!!!!!!!!!!!

"Oh, I know that - and I know about making money for investors. There's more to it than that though, and I can't go into it right now. If I remember, I'll detail it more tonight, after I get home."

A good image in the community and happy employees is good business. Sometimes this does mean that making donations is a good business decision.

However, true selfless generosity should be done by the investors if they choose to do so, not the corporation.

http://www.selinc.com/pdfdocs/disaster_pr_R3.pdf

FOR IMMEDIATE RELEASE

For more information, contact:
Schweitzer Engineering Laboratories, Inc. (SEL)
Phone: 509.332.1890
Fax: 509.332.7990
Email: info@selinc.com

SEL Gives 30–50% Disaster Discount to Customers With Hurricane Katrina Damage and Makes $100,000 Donation to the American Red Cross.

PULLMAN, WA — Schweitzer Engineering Laboratories, Inc. (SEL), a leading manufacturer of protection, monitoring, control, automation, and metering equipment, has always provided special discounts and expedited delivery to customers that have suffered from disastrous natural events.

After witnessing the devastation to much of the Southeast United States following Hurricane Katrina, SEL is increasing its existing disaster discount, offering 30-50 percent off list price, depending on product type.

On a day-to-day basis, it's easy to take for granted the convenience of electric power, but during a disaster like Hurricane Katrina, electric power is not just convenient—it is critical. Hospitals, fire stations, and medical clinics need electric power to care for the sick and injured. Fresh water and food supplies depend on the availability of electric power. SEL recognizes the extraordinary challenges created by a natural disaster, and wants to assist in the quick and safe restoration of electric power.

SEL is providing a $100,000 donation to the American Red Cross to help in the relief effort, and many of SEL’s more than 1000 employees are personally donating to these efforts. SEL is eager to help restore power as rapidly as possible.

Learn more about SEL’s disaster discount at www.selinc.com/dd.

Pretty generous...

My husband's law firm (remember, the scum-sucking lowlife heartless types?) matched employee/associate donations 4 to 1 and partner donations 2 to 1. The firm raised over $145,000 for the Red Cross for Hurricane Relief. In January, the firm raised $40,000 for tsunami relief.

Of course, it will either be ignored or downplayed -- "of course, THEY can afford it!", many will think. Doesn't matter -- I'm proud of them.

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