Beam me to Planet Gore !
Posted on 03/06/2009 9:38:10 AM PST by Winged Hussar
The U.S. Climate Action Partnership (USCAP) supports the imposition of greenhouse gas regulations, largely for self-serving reasons. General Electric, for example, cannot apparently manufacture cost-effective wind turbines and solar power generation systems, so it needs government mandates to force customers to buy them. Lehman Brothers meanwhile wanted to speculate in carbon emission credits, i.e. act as a non-value-adding middleman that profits from the exchange of the modern equivalent of medieval indulgences. It is no surprise that a company whose management cannot deliver anything of genuine value to society is no longer in business. Government bailout client AIG also was a USCAP member, and our opinion is that its membership in USCAP says a lot about the way it was managed. Here is a list of USCAP members, and we shall examine their business performance. Data is from Yahoo fianance, 3/5/08.
In fairness to USCAP's members, we must recognize that EVERYTHING is down this year. Companies whose names are highlighted in black, though, have underperformed both the S&P 500 and Dow Jones Industrial Index. (We are looking at the relative graphs as of 3/5/09, and 5-year price charts)
...Of USCAP's 32 members (including former member AIG and bankrupt member Lehman Brothers): Eleven underperformed the DJIA and S&P 500 (not counting privately held Chrysler, whose performance cannot be assessed) Three (AIG, GM, and Chrysler) need government support to survive Five are non-producing entities that have to pay their employees, managers, and directors without producing anything of tangible value to society.
Many of USCAP's members are, however, well-managed businesses that do not need to be seen in the company of losers, and especially losers that the U.S. taxpayer must carry. Kimberly Strassel's "If the Cap Fits" does not speak very highly of USCAP or many of its members.
(Excerpt) Read more at israpundit.com ...
And don’t forget: Newtie and Nutsy Pelousy see eye-to-eye on how gorebal warming should be attacked.
The heavy duty transportation industry is doing the same thing.
“Smartway”
The new Robber Barons
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