WSJ: Apple's Chamber departure not in shareholders' interests
In an editorial published Wednesday, The Wall Street Journal called out Apple's resignation from the U.S. Chamber of Commerce as an act of "green political correctness," rather than a smart business decision.
The editorial singled out both Apple and Nike, two companies that recently forfeited their stake in the Chamber over its stance on greenhouse gas emissions. It noted that former Vice President Al Gore, a member of the Apple Board of Directors, stands to profit from potential 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," the Journal asserted.
It also noted that Tim Cook, Apple's chief operating officer, also sits on the board of Nike. The editorial suggested that the timing of both companies' departure was not an "accident."
The Journal suggested that the tax impact for both companies would be relatively small. Under the proposed Boxer-Kerry bill in the Senate, Apple's carbon taxes would reportedly be between $43 million and $108 million a year. And Nike, the report said, has most of its factories overseas.
It concluded that companies should not "dump" the Chamber over one issue. If every company did that, it said, the Chamber wouldn't be able to serve anyone's interests, as it would be too worried about each individual company's specific agenda, rather than the health of business in general.
"Green virtue is easier when someone else is paying for it," the editorial said.
Apple has earned its share of fans and critics in the wake of its decision. Chamber President Thomas Donohue took on Mac maker after it said it would prefer the Chamber to have a "more progressive stance on this critical issue." Donohue said Apple forfeited the chance to "advance a 21st century approach to climate change."
But Apple earned accolades as well, from U.S. Secretary of Energy Steven Chu, who called the move "wonderful." Greenpeace, too, applauded Apple's decision to leave the group.
Recently, the Chamber threatened litigation if the EPA enacts greenhouse gas regulations. The Chamber would rather see Congress set policy through legislation. That caught the ire of Apple and Nike.
While Apple left the Chamber entirely, Nike only withdrew from its board. The shoe-maker has retained its membership. Preceding them in departure were three utility companies, Pacific Gas & Electric, PNM Resources and Exelon.
Last month, Apple began reporting its carbon emissions on its Web site. The company noted that its products produce a great deal more emissions than its operations.
The editorial singled out both Apple and Nike, two companies that recently forfeited their stake in the Chamber over its stance on greenhouse gas emissions. It noted that former Vice President Al Gore, a member of the Apple Board of Directors, stands to profit from potential 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," the Journal asserted.
It also noted that Tim Cook, Apple's chief operating officer, also sits on the board of Nike. The editorial suggested that the timing of both companies' departure was not an "accident."
The Journal suggested that the tax impact for both companies would be relatively small. Under the proposed Boxer-Kerry bill in the Senate, Apple's carbon taxes would reportedly be between $43 million and $108 million a year. And Nike, the report said, has most of its factories overseas.
It concluded that companies should not "dump" the Chamber over one issue. If every company did that, it said, the Chamber wouldn't be able to serve anyone's interests, as it would be too worried about each individual company's specific agenda, rather than the health of business in general.
"Green virtue is easier when someone else is paying for it," the editorial said.
Apple has earned its share of fans and critics in the wake of its decision. Chamber President Thomas Donohue took on Mac maker after it said it would prefer the Chamber to have a "more progressive stance on this critical issue." Donohue said Apple forfeited the chance to "advance a 21st century approach to climate change."
But Apple earned accolades as well, from U.S. Secretary of Energy Steven Chu, who called the move "wonderful." Greenpeace, too, applauded Apple's decision to leave the group.
Recently, the Chamber threatened litigation if the EPA enacts greenhouse gas regulations. The Chamber would rather see Congress set policy through legislation. That caught the ire of Apple and Nike.
While Apple left the Chamber entirely, Nike only withdrew from its board. The shoe-maker has retained its membership. Preceding them in departure were three utility companies, Pacific Gas & Electric, PNM Resources and Exelon.
Last month, Apple began reporting its carbon emissions on its Web site. The company noted that its products produce a great deal more emissions than its operations.
Comments
This is one of those "not" times.
It's interesting that the first companies to depart the chamber were power producing companies, companies that would be thought of as staying in line with the chamber's goals.
Considering who the chamber consists of, i'm happy Apple departed.
I expect more to do so.
Apple belongs to the Business Roundtable, many members are not members of the chamber.
It also noted that Tim Cook, Apple's chief operating officer, also sits on the board of Nike. The editorial suggested that the timing of both companies' departure was not an "accident."
No kidding? You think he should abstain/vote/have different opinion on something like this based on which board meeting he is sitting in?
What a shock.
Does the chamber really add to Apple's bottom line?
And when did Rupert Murdoch ever do anything beneficial for the environment, political or natural?
an act of "green political correctness," rather than a smart business decision.
In the wise words of the Wu-Tang Clan: C.R.E.A.M.
Cash Rules Everything Around Me
Just counting the days until Murdoch's empire crumbles to dust....
Right. Fox News is the most watched news channel in the US. The ratings for their primetime lineup dwarfs MSNBC and CNN and has for years. Murdoch is definately not in tune with the way America feels. He's out of touch. Most Americans support and crave a super left wing liberal agenda. That's why Obama's ratings are so high - cause people really love bigger government and higher taxes. I'm sure Murdoch's empire is falling soon. Hold your breath.
The WSJ is a very conservative journal. Its business articles are usually good, but its editorials are often not.
Indeed.
So this is going to hurt Apple eh? How, exactly? Let's just gloss over that one.
Moving on, we'll instead note that Nike also withdrew (sort of), and concoct a conspiracy about the board members. Uhhhh, OK.
Note that the other companies involved, like Pacific Gas & Electric, PNM Resources and Exelon, have no obvious connections at all, which basically blows that theory.
Then, after noting that the companies are withdrawing over their stance on climate change, we'll complain that the Board shouldn't be chasing individual demands. Huh?
Maury
This board seems to be heavily populated with left wing geeks who don't really understand economics, psychology, marketing or Apple as business enterprise. And they don't like people to disagree with their positions because they wildly vilify
The US Chamber of Commerce is a right wing front organization for the Republican party. So it comes as no surprise that the WSJ would side with them. Not even sure how they are allowed to use their name because they are rabidly anti-government.
You realize you sound very uneducated when you say things like that. If your spew crap like that, pleae provide some sort of proof to back up your outrageous claim.
I'm no CoC fan. I believe they are really only real agenda is to keep dues coming in to support their employees. Any chamber I've ever joined has proven to be able to help grow my business about 1% (give or take a percent).
But please, spare us the left wing agenda which currently seems to be... blame everything on the RNC. It's weak. And desperate.
Who cares about WSJ anymore?
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They have been so wrong, so often lately, why bother with them?
The WSJ is a very conservative journal. Its business articles are usually good, but its editorials are often not.
This is one of those "not" times.
It's interesting that the first companies to depart the chamber were power producing companies, companies that would be thought of as staying in line with the chamber's goals.
Considering who the chamber consists of, i'm happy Apple departed.
I expect more to do so.
Apple belongs to the Business Roundtable, many members are not members of the chamber.
Right - the Wall Street Journal doesn't know what they're talking about- especially that Walt Mossberg!
The WSJ is a very conservative journal. Its business articles are usually good, but its editorials are often not.
This is one of those "not" times.
It's interesting that the first companies to depart the chamber were power producing companies, companies that would be thought of as staying in line with the chamber's goals.
Considering who the chamber consists of, i'm happy Apple departed.
I expect more to do so.
Apple belongs to the Business Roundtable, many members are not members of the chamber.
I agree with you totally.
Just counting the days until Murdoch's empire crumbles to dust....
I agree, but sadly as long as there are Palin and Rush followers to lap it up it here to stay.
Just counting the days until Murdoch's empire crumbles to dust....
I hope not... my favorite tv shows are on FOX.
Right. Fox News is the most watched news channel in the US. The ratings for their primetime lineup dwarfs MSNBC and CNN and has for years. Murdoch is definately not in tune with the way America feels. He's out of touch. Most Americans support and crave a super left wing liberal agenda. That's why Obama's ratings are so high - cause people really love bigger government and higher taxes. I'm sure Murdoch's empire is falling soon. Hold your breath.
I didn't know it had a 'news' channel!