WSJ: Apple putting green political correctness above the long-term interests of its shareholders

“The recent corporate resignations from the U.S. Chamber of Commerce have played in the media as a case of enlightened corporate stewardship vs. blinkered old businesses. But there’s far more to this story—not least the way that Apple and Nike are putting green political correctness above the long-term interests of their own shareholders,” The Wall Street Journal writes in a editorial.

“The Chamber needs ‘a more progressive stance on this issue’ of climate change, declared Apple Vice President Catherine Novelli in a letter of resignation from the business lobby on October 5. Added Nike, announcing its resignation on September 30 from the Chamber board though retaining its membership: ‘US businesses must advocate for aggressive climate change,'” WSJ writes. “Both decisions were ostentatiously leaked to the media.”

“The first point to understand is the role of Al Gore, who is a member of the Apple board and perhaps the leading supporter of President Obama’s cap-and-tax anticarbon legislation. Mr. Gore has also invested in renewable energy technologies that could make him even richer than he already is if new climate rules make renewables more competitive with carbon energy,” WSJ writes. “Meanwhile, Apple’s Chief Operating Officer Tim Cook happens to sit on the board of . . . Nike.”

WSJ writes, “Both companies may figure they can afford a U.S. carbon tax because most of their manufacturing is done outside the U.S… Green virtue is easier when someone else is paying for it. Yet even this self-interested calculation is likely to be short-sighted for both companies.”

“A carbon tariff is already part of the House cap-and-trade bill and is gaining currency among Congressional protectionists, most recently Senator Lindsey Graham (R., S.C.),” WSJ writes. “As companies that import nearly all of their products, Apple and Nike would be especially vulnerable. We wonder if Messrs. Cook and Parker thought through any of this before committing their employees and investors to this crusade.”

Full editorial here.

[Thanks to MacDailyNews Reader “Citymark” for the heads up.]

130 Comments

  1. now that the earth is undeniably in a 30 year cooling phase (despite increased CO2) all the global warming sheeple and cronies are getting desperate, which i suspect is the reason why apple and nike made this move. im just thankful that now i can exhale without being stricken with guilt!

  2. “Green Political Correctness” can hardly be “above the long-term interests of its shareholders”. We all benefit when “things” get better, we all suffer when they get worse. What sort of a moron believes that short-term profit is an advantage if our children all have to live a couple hundred miles further north – or die – as a result? This clown isn’t thinking of anything but the Editor’s short term interests … as in profit … despite claims to the contrary. And, by the way, a little good press today can be worth a world of name recognition tomorrow.

  3. Both Apple and the NFL seem to be having trouble keeping their usually apolitical brands out of the muck recently. Both organizations need to back themselves out of the swamp as quickly as possible and get back to the game.

  4. How are the “blinkered old businesses” doing these days? Lehman Brothers your thoughts? AIG is the nest egg environmentally protected? Bear Sterns… Bear Sterns? Sharper Image any new green or non green products? Linens n Things do you support the Chamber of Commerce’s position? What about you Circuit City?

    Hey… wait a minute. Where’d everybody go? Maybe they spent too much time reading the Wall Street Journal.

  5. Ironically enough, Apple’s factories in China use the kinds of green technologies that no manufacturing in US has bothered to implement (since no law has forced them to, at least thus far).

    Chamber of Commerce, with its massive lobbying power, has no intention of betraying the interests of its members, who most certainly don’t want ANY laws that would force them to reduce emissions, pollution, or in any way put some burden on their existing operations, regardless of how dangerous their operations may be for their surroundings. When economy is slow, it makes sense to lobby against new limits to the way you operate. When the primary goal is to make massive amounts of money, ethics take a back seat (or wait for the next buss).

  6. What do you expect from these simple minded money driven fuckwits? Especially here in the WSJ now…they let Karl Rove have a piece in the editorial at least twice a week. Financial people are so narrow minded it’s almost comical.

  7. Global Cooling has started – It’ll continue to get slightly cooler for a while, then it’ll get a little warmer. As it has done since the world began. Just get on with your lives. Follow the money.

  8. Oh and just so you don’t think I’m some sort of I-told-ya-so Greenpeace nut, I hunt manatees with Pontiacs on weekends. ” width=”19″ height=”19″ alt=”wink” style=”border:0;” />

    (Some day we’ll have to explain to our kids what a Pontiac was)

  9. This article in the WSJ is excellent. I say to the WSJ: RIGHT ON, RIGHT ON, RIGHT ON!!!

    Apple is my favorite computer company. But their politics on the green issue is NOT ON AT ALL. Cap and Trade is an economic disaster for the nation.

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