Monday, October 26, 2009

Myron fights for shareholder's rights to die

In a parallel world where the human race does not knowingly choose the path that inevitably leads to a vile and miserable future for itself on its home planet, the US Chamber of Commerce made a statement on October 19:
Climatologists tell us that if we don't enact dramatic reductions in carbon emissions today, within 5 years we could begin facing the propagating feedback loops of runaway climate change. That would mean a disruption of food and water supplies worldwide, with the result of mass migrations, famines, and death on a scale never witnessed before.

Needless to say, that would be bad for business.

We at the Chamber have tried to keep climate science from interfering with business. But without a stable climate, there will be no business. We need business more than we need relentlessly higher returns.
Then, during the question and answer section where carbon capture and storage was correctly confirmed as being as fictional as seven levitating pieces of coal singing at your door, reality intruded:

Also, in the unfortunately real world, a Wall Street Journal editorial on 14 October condemned Apple and Nike for pulling out of the US Chamber of Commerce over its resolutely global-warming-denial stance -- when they should be putting shareholder's interests first.

Shareholders, you see, are theoretical entities in the minds of crackpot economists. They are not human beings who happen to depend on the continuing stability of the planet for bodily sustenance.

Myron Ebell concurred, with a letter to the editor on 22 October:
I would like to add a point to your editorial "Apple, Nike and the U. S. Chamber" (Oct. 14). In supporting energy-rationing legislation, Apple and Nike are as you observe being short-sighted about their own interests because they neglect to consider that the next step after enacting cap and trade will be tariffs on goods produced in countries that are not reducing their greenhouse gas emissions enough to satisfy the global-warming alarmist establishment. This will include those countries in which Apple and Nike manufacture their products.

Additionally, however, Apple, Nike and their ilk have failed to consider the effects of continually increasing energy prices. Higher energy bills will mean less money in people's pockets to spend on things like Nike shoes and Apple iPhones. A cap-and-trade energy-rationing scheme will constrain economic growth for decades. It would be a great step forward if more company CEOs, would follow their own self-interest, realizing that few companies prosper when the economy is in the doldrums.
This is hopeless. At least he didn't mention jobs as he usually does. Myron doesn't care about jobs. An international carbon tax policy could create the economic climate that would allow Apple and Nike to bring back their manufacturing jobs from overseas back to where the products are consumed, so that people would have the income to buy these manufactured products.

But what does Myron know about the logic of flows of money? Does he think it seeps into the ground in China and returns back the US economy via rainfall?

For Myron, none of the today's current economic crises have happened. Shareholders' interests, my arse! At least it's logical. For whenever a shareholder's economic situation deteriorates, they always sell their shares to raise some cash. Then they no longer have any shares, and therefore the corporation is not responsible for their interests -- whatever they may be.

This logic is as corrupt as BlackWater dismissing their employee Mr Moonen shortly after he shot dead someone in Baghdad, and then claiming the act had nothing to do with them. The damage was done while he was under orders. Changing the relationship later doesn't alter the responsibility.

Today, the damage is being done by the corporations to people's future prospects. Some of these people are shareholders. Their future life interests are being violated by actions done today -- whilst they are shareholders.

But then there is a slippage of time. Because shareholders can and will sell back to the rich, for example, to afford to rent back a roof over their head in the fall-out of a mass corporate mismanagement of the economy -- they have no future!

The imaginary entity which embodies shareholder's interests has no concept of life beyond the end of the day. It is prepared to sell its own liver.

That's what you want us all to be like, Myron!

We return you to the message of hope from the alternative world:
The Chamber seeks a solid business solution - one that requires much less intervention, and has a proven track record. What we need is a carbon tax. Only thus will we be able to compete against Physics and create an environment where the best company wins and the best solution dominates. A carbon tax will mean new blood for Free Enterprise, and a fertile new foundation for long-term business prosperity.

The Chamber also calls on President Obama and the U.S. Congress to cease subsidizing old and failed technologies like the so-called "clean coal" hoax, and to incentivize tried and true clean technologies in their stead.

The Chamber expects to welcome back companies that have recently defected over our climate stance. But we also expect to reevaluate our relationship with other members - who continue opposing climate legislation, or who stymie progress through greenwashing and other stalling tactics. Corporate Social Responsibility just won't cut it anymore, folks - Mother Nature means business, and we do too.

We at the Chamber will put the full weight of our organization behind achieving these goals. The very future of business hangs in the balance.


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