Earth First Radicals Bully CEOs

This article is from the archive of The New York Sun before the launch of its new website in 2022. The Sun has neither altered nor updated such articles but will seek to correct any errors, mis-categorizations or other problems introduced during transfer.

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Oh, brother. Am I glad I don’t have money invested in any corporations run by cowardly CEOs.

Okay, I don’t have any money invested anywhere, but if I did, I’d be worried. Ditto anyone whose pension is managed by those spineless, politically correct lemmings.

It’s one thing for a company to be concerned about how it impacts the environment, but now environmental militants are extorting businesses into basing their investments on public relations.

Advocates hyping the global warming scenario are persuading — or intimidating — once wise business leaders into tailoring company investments to meet those advocates’ standards, rather than providing the best revenues for their stockholders.

Ford just posted the biggest loss in its history, but environmentalists should be pleased to learn that the company has donated $25 million to Conservation International for an environmental center. According to BusinessWeek, a former Ford CEO, William Ford Jr., has championed green causes for years, spending $2 billion to overhaul the sprawling River Rouge, Mich., Ford complex and put in a 10-acre grass roof to capture rainwater. The stockholders are not amused.

Marxists have always demonized the corporate world, and Hollywood has done its best to inculcate this negative image of venal capitalists into the minds of the public. That corporations are made up of individual stockholders, big and little, and that workers’ pensions, IRAs, and 401(k) accounts are tied up in public companies doesn’t filter through the bad press.

Now that Vice President Gore has managed to spread his climactic horror plot through the cinema, intellectually lazy business titans have folded and joined the climate-change cabal to undermine their business decisions. What a joke.

I’m no business expert. I have no assets besides my 116-year-old house, which so far has survived big climatic assaults. Fortunately, astute individuals have been sounding the alarm against the attacks on our capitalist system.

Thomas Borelli is a partner in an investment company, the Free Enterprise Action Fund, which seeks to increase shareholder value by advancing free-market policies in the companies it owns. Its mission statement advises investors to consider the fund’s investment objectives, risks, and charges carefully before investing or sending money.

This sounds like common sense, but it’s not common in the corporate world today. Citigroup is “denying loans because of green pressure not to give loans to the developing world. That’s a decrease in revenue. Look at their citizenship report; they’re not lending 75% of their loans to the developing world because of non-financial criteria,” Mr. Borelli said on CNBC recently.

But when have human beings ever mattered to radical environmentalists? They’re always spouting about quality of life, but only for non-human species. It’s criminal that developing countries are denied opportunities to rise out of poverty because junk science advocates are intimidating investors.

But the mainstream press aids and abets the global warming propaganda. The Times of London reported last month that the disappearance of Lohachara Island in India’s part of the Sundarban delta shows that “one of the most apocalyptic predictions of environmentalists and climate scientists has started coming true.” But the article failed to note that the island disappeared 22 years ago and was eroded by oceanic currents, not by rising sea levels, the director of the Sundarban Biosphere Reserve, Atanu Raha, said.

Maybe my perspective differs from that of journalists the anti-corporate crowd is wooing because I have always been at the bottom of the economic ladder. Having lived in some of this city’s harshest neighborhoods, I’ve learned that a thriving business community and jobs best help the poor. New York may lose its status as a financial center because of politically correct decisions.

In developing countries, militant environmentalists have impeded the innovative bioengineering advances that would end famine. I am sick to death of listening to Earth lovers who are more concerned about the planet than about the human beings who inhabit it.

If I ever get enough money to invest in a company, I’ll first make sure its CEO not only has a heart, but a spine.


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