Gore doesn’t buy “carbon offsets” through Generation Investment Management - he buys stocks

http://www.sec.gov ^ | 03/05/07 | DaveTesla

[DaveTesla]

Gore doesn’t buy “carbon offsets” through Generation Investment Management - he buys stocks

http://www.sec.gov/cgi-bin/browse-edgar?">company=generation+investment+management&CIK=&filenum=&State=&SIC=&owner=include&action=getcompany

http://www.sec.gov/Archives/edgar/data/1375534/000117266107000053/0001172661-07-000053.txt

[DaveTesla]

"GIM appears to be a hedge fund that invests in "green" companies"

Which one of those company's are green?

What is a green company?

One that is headquartered in a cave and uses no energy?

[engrpat]

Bumb to send to the DUmmies

[Recon Dad]

I would suspect you may have hit on the logic behind the Sysco buy, very preceptive.

[Robert A Cook PE]

Well, it was HIS spokeswoman who claimed Gore was buying "carbon offsets" ... So, if GIM isn't "offsets" but an insider trading scheme (Gore scares up demands for global warming-realted government restrictions and investments, but OWNS a large amount of in the firms who BENEFIT from global warming investments), then WHO is he buying carbon offsets from?

[drpix]

"What a scam!"
"Which one of those company's are green?"
"What is a green company?"

Worth repeating.

AFLAC is an insurance company.
Everyone knows STAPLES.
TECHNE CORP is itself a holding company invested in bio medical research and development.
AUTODESK designs computer software for industry (such as AutoCAD).

Other Freepers may know something about the other companies Gore's company is invested in, but the one's I knew and listed have nothing to do with "GREEN."

[AmericanMade1776]

Why am I not surprised?

[gondramB]

>>lGore said so!

Gore helped found Generation Investment Management, through which he and others pay for offsets. The firm invests the money in solar, wind and other projects that reduce energy consumption around the globe, she said.<<

Wow. If he invests $100,000 in company B because it is more environmentally friendly than company A that he might have invested instead but he still plans to make a profit on that doesn't sound at all like buying offsets.

And its so checkable... She did use a weasel word - she didn't say he buys offsets she said he "pays for offsets." That's not gonna save him in the court of public opinion.

Thanks for that link.

[ClaireSolt]

An offset might invest in windmills. GE is huge in windmills which they bought cheap when Enron bankrupted. Grey Davis is the one who determined to shift blame from politicians to Enron for energy crisis then socialized the CA energy market. I have heard Gore say that his movement would shift economic power from those who have it to those who want it. This is an assault on the energy sector just as healthcare reform is a grab for that sector.

[Philistone]

Becton Dickinson produces products for bio-tech research.

Nuveen is, I believe, a bio-tech company.

UBS is "Union de Banques Suisse" the giant Swiss bank.

Johnson Control DOES claim on its website that it produces "sustainable" products.

Greenhill is a private investment bank.

AQuantive is a marketing company and parent of Razorfish.

Lab Corp does medical laboratory testing.

Metabolix uses bio-tech to create degradable plastics.

Northern Trust is a bank holding company.

VCA Antech provides pet care services.

Waters provides bio-tech software/services/products.

Only two companies are even remotely related to "green", Metabolix and Johnson Controls.

Together, those two represent a tiny fraction of GIM's total portfolio.

No carbon offsetting here...

[Bob]

SYSCO CORP

I wonder if this is Sysco Foods or the software maker? I'm guessing Foods.

SYSCO is the food company. Cisco is the software company. Citgo is an oil company. CIDCO was a caller-ID telephone equipment company. (Years ago, I worked at CIDCO and was amazed at the confusion that the similar-sounding names created.)

[Hemingway's Ghost]

"Carbon Offsets" = Modern-day Indulgences for guilty liberals . . .

[Grampa Dave]

[kimmie7]

bttt

[lowbridge]

Media Ignore Al Gore’s Financial Ties to Global Warming (Al Gore's Inconvenient Loot)

[DaveTesla]

An inconvenient manipulation.

Meanwhile his video, an inconvenient truth continues to sell out as well.

[conservative in nyc]

GE is huge in windmills which they bought cheap when Enron bankrupted.

GE also manufactures aircraft engines and is one of the world's largest aircraft lessors. The global warming alarmists hate airplane travel, since it supposedly burns a lot of fuel and produces contrails that supposedly cause global warming. It is hardly a green company.

This analysis of Generation Investment Management's activities is a bit simplistic. On its website, the company claims to work with CarbonNeutral and the Chicago Climate Exchange "to ensure our London and Washington D.C. offices are fully carbon neutral." GIM also claims that it "has sponsored a full energy efficiency audit for each employee's residence, including suggestions for ways they can make home energy improvements", and that it works with CarbonNeutral Company "a voluntary offset provider . . . to offset emissions, particularly for the partners and families of Generation's 23 employees."

If Algore's house is being offset through GIM, it's likely through a payment to CarbonNeutral, a company with a questionable past.

I wonder if Al Gore payed taxes on the imputed income from his company doing an energy efficiency audit of his residence (and a great job they did, by the way) and for any offsets they supposedly purchased on his behalf. And I wonder whether GIM (i.e. Algore, since GIM is a partnership and Algore is probably a partner) is writing these audits and offset purchases off of their taxes as a business expense. If Algore payed for this out of his own pocket, he probably couldn't deduct anything.

[ClaireSolt]

Presumably people who buy these offsets would be better off putting their money in a mutual fund themselves. Now it seem that they are contributing to an investment pool for others to reap the yields. They just get to feel good.

[gondramB]

>>An offset might invest in windmills. GE is huge in windmills which they bought cheap when Enron bankrupted. Grey Davis is the one who determined to shift blame from politicians to Enron for energy crisis then socialized the CA energy market. I have heard Gore say that his movement would shift economic power from those who have it to those who want it. This is an assault on the energy sector just as healthcare reform is a grab for that sector.<<

Sadly... that sounds like a correct analysis. Gore has too high an IQ to actually believe that by buying GE stock he has justified him polluting in the manner he is telling others to not do.

He's got to have a plan. I don't think its running for President - he knows he can't win. Gaining power by shifting money away from those who have it and making himself a profit fits all the available evidence.