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.

 

Good news for NC voters

Amid the pervasive news out of Washington, the US Supreme Court refused to hear an appellate case that ruled the North Carolina Voter ID unconstitutional. This is excellent news for all voters, but in particular African-American, older and college student voters.

Within the law were highly discriminatory provisions designed with “surgical precision” per the US Court of Appeals in the 4th District to infringe upon African-Americans. It was designed to “kick Democrats butts,” so said a Buncombe County GOP leader on The Daily Show, a tape of which was shown during the court case. It should be noted the leader resigned the next day.

When I made reference to this law as “unconstitutional and Jim Crow-like,” to members of the NC General Assembly before it was passed, one of its authors strongly disagreed. My response was simple, “as a 56 year-old white man and former Republican, we both know what this law is about.”

It also attempted to solve a problem that is not significant. Voting fraud is not pervasive as some would let you believe. Numerous studies do not support the claim of more than very small numbers of voting problems. It should be noted that the attempt to discredit our Presidential election through claims of voter fraud was a key part of Russian meddling in October to create doubt.

And, a final key comment is important. The problem we face in our country is not enough people voting. To be such a significant democracy, we don’t have enough citizens participating in the process. We should be doing everything in our power to encourage not discourage voting. And, if voter fraud is such a concern, why did the NC General Assembly not include absentee voting in the law, where there is more fraud (still not a lot) than at the polling sites? The answer is who tends to vote in larger numbers as absentees.

Right now, my strong advice to the NC General Assembly is to not do what they are thinking about, trying to rework the law. The General Assembly has now had four laws passed in the last few years ruled unconstitutional. The solution is stop passing laws that are unconstitutional, not trying to see what you can sneak through.

Musings during the Ides of May

I don’t know about you, but the routine chaos surrounding our fearless leader is wearing me out. A week has not passed by without some chaos, almost all of it self-inflicted. And, sometimes it is daily, if not hourly wounds.

We should remember that Julius Caesar was killed during the ides of March. Yet, while Julius was knifed in the back by Brutus, our leader needs to look in the mirror at his worst enemy who is doing him in. Our President’s greatest enemy is Donald Trump and it is not even close.

The Guardian has a story today about the worst leaker in the White House. His name is Donald Trump. Who is the source of the most lying – Donald Trump? Who is the source of changing the story which discredits his people who are lying for him – Donald Trump?

It goes on. Whose actions and inane statements, unsupported by fact, routinely get himself in trouble – Donald Trump? Whose unfamiliarity and disdain for knowing what his job entails and necessary history causes unforced errors? You guessed it, Donald Trump.

We will likely look back on the Ides of May as the beginning of the end of Trump’s presidency. Firing James Comey for the reasons he finally fessed up to and doing it in such a terrible fashion reveals a man trying to save himself, but he does not know how. He looks like a guilty man because he is acting likely a guilty man.

Trump said he is the most mistreated President ever. If he believes that, he needs to look in the mirror and tell the image to treat himself better.

All the President’s Men

Not to overstate the obvious, but it would behoove those who serve the President to remember the famous title of the Watergate movie – “All the President’s Men.” While President Nixon was pardoned for any crimes that led to his resignation, over twenty of his colleagues went to jail.

Our current President has many challenges that continue to be problematic. His biggest character flaws are his large ego, thin skin and disdain for telling the truth. Yet, what makes these attributes even worse is he cannot remain silent when that would be the wiser course of action. As a result, he has unforced errors.

A month ago, the bookies in London had the odds at even money, this President would resign or be impeached before his first term ends. My guess is the odds are now better than 50/50 that he won’t make four years.

While the proof has yet to be found, this President is acting like a guilty man with respect to Russia collusion. But, what may also be his undoing is his vast number of conflicts of interest. I personally believe he is using the Presidency to make more money, as caring for others has never been his modus operandi.

So, I would recommend people to stop lying for this man and start doing their job. They will stay out of trouble that way.

Saturday in the park

With due respect to the legendary band Chicago, let me use one of their songs to take a walk in the park to opine on various and sundry topics.

The French election is this weekend. The choice is between a woman who reminds many of the worst of Donald Trump using fear to sell her candidacy and a man new to politics, but far more reasonable than his extreme opponent. Macron values the EU, while Le Pen would want to yank the French out of the EU. I have said this before with our US President, you cannot shrink to greatness, as global collaboration increases growth.

Prince Phillip of Great Britain has decided to retire at the age of 96. I hope to be able to do anything at 96, so I applaud his longevity. Of course, his job is not too onerous, yet he has always carried himself with dignity. I see his wife going strong and wonder if she will outlive her heir to the throne. Prince Charles may have the shortest tenure as King, once it is his turn.

Conservative columnist Charles Krauthammer has reiterated concerns over our President in continually making trouble for our relationships with other countries. He is focusing this time on offending our friends in South Korea asking them to pay for something after it was agreed upon that they would not. In our efforts to deal with the bellicose neighbors to their north, it would behoove us to work well with our allies. Krauthammer called this an unforced error that HR McMaster had to walk back. He went on to register concern over the 3 am call when something hits the fan. This conservative columnist said he hoped they would let General Mattis take the call instead of the man in charge.

While the man offends allies, he continues to be a groupie of thug-like leaders. He has apparently invited Philippine President Duterte to the White House. This invitee gleefully talks of having people killed and has insinuated he has played a role in one. To our President, when you lie down with Wolves, you may get more than just fleas.

Now, forget all of this stuff and enjoy your Saturday. And, to all French people, please vote. If you don’t, you may end up like we have in the US.

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.