Interesting thing is happening at energy company shareholder meetings

An interesting development occurred at annual shareholder meetings of two major companies in the energy business – PPL Corp, a utility serving Pennsylvania and other states and Occidental Petroleum Corp. A shareholder instigated vote took place at each firm and passed over the recommendations against it by their Boards of Directors. The proposal is for each company to share formally a report on what they intend to do about climate change.

Per the website “Financial Advisor” the following was reported earlier this month about the Occidental vote:

“The proposal received the backing of Occidental’s largest shareholder, $5.4 trillion asset manager BlackRock Inc. BlackRock, which owns a 7.8 percent stake in the oil explorer, said it took action due to the “lack of response” on the issue by the company and a lack of improvement in its climate-change related reporting following a similar proposal last year which received more than 40 percent support.”

The shareholder proposals are at the impetus of CalPERS, one of the largest pension trust funds in the world and a major investor in each company. Other state pension trust funds are supportive of CalPERS’ push. A similar vote was taken recently at Royal Dutch Shell and was defeated, with another vote scheduled at ExxonMobil. It should be noted that institutional investor groups are recommending against these proposals, but two have passed.

With a White House at odds with the rest of the world on climate change, we will need a groundswell of advocacy. Fortunately, we are passed the tipping point on renewable energy due to falling prices and rapidly increasing jobs. And, some of these same companies are advocating the US stay in the Paris Climate Change accord. Yet, the US cannot leave the table. To assure that we remain, we need these kinds of shareholder votes and other advocacies.

The White House has now canceled two meetings to discuss the future of our involvement in the Paris Climate Change. I believe this is in reaction to the push back from business. We cannot backtrack on this and other environmental issues. Let’s push forward and, if the President does not want to play a role, we and the rest of the world can leave him behind.

 

Celebration for passing a bill may have been premature

With a White House eager to claim legislative victory, there was a celebratory bash after the Republican led House passed the AHCA by a squeaker of margins 217 to 213. The bill has been vilified by several advocacy groups like the AMA, American Cancer Society and AARP and it has still not been scored by the Congressional Budget Office. The bill is also dead in the water in the Senate “once it gets sent there.”

Wait a minute, the last sentence said “once it gets sent there.” To the surprise of some Republican House members, the AHCA bill has not yet been sent to the Senate. Why, you might ask? Since the House did not wait for the CBO to score the cost and impact of the bill on the numbers of uninsured, it cannot be included in the budgeting process, and would thus require 60 votes, not 51 to pass in the Senate. The whole idea was to sneak the bill through this process, so it did not need the super-majority of 60 votes, which it cannot achieve.

Unless the CBO scores this where it saves a threshold amount of the budget, it may not qualify. So, the House leadership has not yet sent the AHCA to the Senate. If they did and the CBO results were not favorable, the House would have to start over. Again, I should reiterate that this bill cannot get even the 51 votes needed due to the impact on Medicaid. As we speak, about two dozen state governors are beseeching the Senate about not harming Medicaid. Unlike the House, the Senate is actually listening.

So, the victory lap on mile 250 of the Indy 500, may have been premature. Voting on something without knowing its impact is not the wisest course of action and is unbecoming of a legislator we trust to do our homework.

 

I want to buy this

Little Donnie has always had money. Daddy made sure of that, but Daddy is no longer around. As he was walking down Main Street with his friend Paul, he pointed to the shiny bike in the window and said, “I want to buy that bike.”

“But, you don’t know how much it costs,” said Paul.

“It does not matter, I want it,” said Little Donnie.

“But, you have a bike and it just needs a little oil for the chain and air in the tires. Plus, others can ride if when you don’t.”

“That does not matter. I want it. Go buy it for me,” said Little Donnie.

“OK, but we still don’t know how much it costs and whether others can ride it,” said Paul.

“Just buy the thing or I will tell all my friends you were mean to me. Some of them are your friends, too. They will stop being your friend and some may beat you up, believe me,” said Little Donnie.

“OK, but my big brother Mitch is not going to like this and he may make you give it back. We at least should know what it costs.”

“I will deal with Mitch later as I really want this bicycle,” said Little Donnie, “and I always get what I want.”

ACA truths Republicans don’t want you to know

The Affordable Care Act is an imperfect and complex law, but it is actually working pretty good. It does need improvements, but a few of its imperfections have been heightened by our Republican friends in Congress and in state legislatures. Yet, they do not want you to know about these actions, some of which are quite devious and harmful to Americans. To be frank, this subterfuge frustrates me as people are harmed as the GOP tried to waylay the law.

What has not been reported very much in main stream news is Senator Marco Rubio’s successful efforts to stiff insurance companies. These companies were promised additional funding for taking on excessive bad risk, called adverse selection. This was done successfully when the Medicare Part D plans were rolled out. By stiffing the carriers, the insurance companies had to raise premiums even more than they otherwise would have. Some even left the exchanges as this action hurt their bottom line. Let me say this plainly. Senate Republicans screwed Americans with higher premiums to try and strangle the ACA. Rubio even bragged about this on the campaign, so please Google “Senator Marco Rubio and risk corridors” to read about what he did.

On the state level, 19 Republican led states chose not to expand Medicaid, a key component of the ACA. 31 states who did so are seeing fewer personal bankruptcies and better hospital accounts receivables. Republican John Kasich, who expanded Medicaid as Governor in Ohio and ran for President, said “Medicaid expansion is a no brainier.” I would have likely voted for Kasich had he won the GOP nomination.

Then there is the naysaying that has been facilitated by the 50 plus repeal votes. Far too many folks never gave the ACA the benefit of the doubt. It is imperfect and the exchanges were rolled out horribly, for which I blame former President Obama. Yet, this law has made a huge difference in the lives of many Americans.

Finally, what is ironic is the ACA is built off a Republican idea. This is a key reason Republicans don’t have a good replacement. In fact, former Senator Jim DeMint, the initial Tea Party leader, strongly advocated Romneycare, on which the ACA is loosely based, for the whole country. He even wrote a letter to President Bush advocating for it. Yet, when Romney ran for President in 2012, DeMint said both Romneycare and the ACA were unconstitutional. This hypocritical change of heart can be easily found by Googling “Senator DeMint and Romneycare.”

People need to know the truth. This is not false news as our President likes to claim. Please research these facts and read as much as you like. Then, ask your representatives to start governing with real information and look to help Americans. I strongly recommend we do not repeal the ACA and improve the law. To do otherwise, is poor form for those who hindered it at the expense of Americans.

 

 

 

Budget, budget, budget

Now, that agreement has been reached on setting a budget for the current fiscal year which is seven months old, I have three comments. First, bipartisan collaboration is the reason this budget passed. Thus far, the House has been trying to pass legislation arguing amongst Republicans. Bipartisan legislation is how John Boehner got bills passed.

Second, it is interesting how we are celebrating Congress for doing its job. This is one of the easier, substantive things they do, yet it should not take seven months into the fiscal year. Keeping the lights on is the most important thing they do, yet they can’t do even this well.

Third, I have witnessed yet again a Congressional candidate to replace now budget director Mick Mulvaney tout he is in favor of a balanced budget amendment. Folks, we have $20 trillion in debt. We need more revenue than expenses. And, we cannot cut our way there. We need to increase revenue. It should be noted the President’s tax plan is estimated to increase the debt from $2 to $6 trillion.

We need more serious discussions than this President and Congress are prepared to do. We must roll up our sleeves and add wisely to revenue and cut wisely our expenses, as both efforts are required. If someone tells you otherwise, mention the $20 trillion debt figure.

Tin soldiers – a history lesson worth remembering

A day that lives in infamy can be summoned to memory with the words “Kent State.” If you are not familiar with this term, please Google it as it reveals what could happen today, by showing what did happen in May, 1970.

In short, President Nixon called out the national guard to keep a protest of college students at Kent State University in Ohio from turning into a riot. The dilemma is these “tin soldiers,” as they were termed in Crosby, Stills, Nash and Young’s powerful song “Ohio,” were armed. So, when one of the protesters was alleged to have thrown a rock, a guardsman opened fire and was joined in fire by the other guardsmen. Four college students were killed and nine were injured.

Nixon is remembered mostly for resigning before he was impeached for Watergate (in essence running a burglary operation from the White House), yet his calling out the national guard on college students is a horrendous decision. To understand the magnitude, picture your child being faced down by the national guard.

I mention this today as during an interview with Margaret Atwood, who wrote the dystopian novel “The Handmaid’s Tale,” she said totalitarianism first occurs when a leader has troops fire on protesters.

What scares many is the possibility of our current President calling the national guard on a group of protesters is not a stretch. It is also not a stretch for one of the armed militias that feel empowered by this President doing the same.

It is interesting that two dystopian books are going through a concerned revival. One is “The Handmaid’s Tale” and the other is “1984.” We need to be strident in protecting our rights to assemble and protest. We need to be civil in these respects, but it is well within our rights to question our leaders. And, we should not be shot at.

I am annoyed with Democrats and Republicans

This post may be offensive to some of my followers, but I appreciate your comments should you disagree. As an Independent voter who left the Republican Party in 2006, but did not choose to rejoin the Democratic Party, I want our leaders to solve our problems and work together. We have gotten progressively worse with partisanship and that is not good, as we are attempting to solve problems with party rhetoric and not data and or common sense. Both sides are to blame, but I find more fault with my more recent former party given their support by a more active misinformation base parading as a mainstream news network.

Like many people, I do not fit into a nice compartment. I am fiscally conservative and socially progressive. I have these beliefs we need to pay for things and every citizen has equal rights and opportunity. Per Teddy Roosevelt, they need a ‘square deal” and like his cousin Franklin, they need a “fair deal.” I guess I want our leaders to be better stewards than they have come to be with our money and rights. What many have failed to realize is my rights are just important as yours, and vice versa. The right to do something does not include the right to squelch another person’s rights. Think about this last sentence, as folks advocating religious freedom laws seem to miss the subtlety of this point.

Using a recent example, I cite the approval of our new Supreme Court Justice, Neil Gorsuch. This man was not perfect, but he seemed to have a pretty good set of experiences. Yes, he is more conservative than I would prefer, but he was nominated by a Conservative president. That is how this works. My question to Democrats is Gorsuch more horrible in their minds than the next few in consideration? Why force the Republicans hand in blowing up the 60 vote rule? I fault the GOP as well for blowing up this rule, as we now could get a more extreme person on the Court. And, that is not what this Court needs in m view. So, between the two actions, we have thrown future stewardship out the window.

Another recent example is the effort that fortunately failed to repeal and replace the Affordable Care Act. Republicans decided to work without Democrats to do this and their party bickering caused it to fail. It also failed because it was a horribly crafted and rushed bill. Since most Americans want to keep Obamacare, but improve it, why did the GOP waste time and not work with Democrats to fix it? The President even blamed Democrats for this bill’s failure, yet they weren’t even at the table. That is a shame.

Stewardship is an important word to define what is lacking. We need our leaders to be better stewards of our country than they have become. Both parties do not lay claim to all of the good ideas and both can lay claim to some bad ones. So, why not set all the rhetoric aside, study real data and real causes, and come up with informed, bipartisan solutions through civil discourse. Right now, in my view, our Congress and President’s inability to do this are a threat to national security. Please be better stewards. We need you to be.