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.

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.

 

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.

Extremely poor form, but not surprising

Rather than focus on the obvious concerns about the timing and reasons given for the firing of FBI Directior James Comey, I want to focus on the absence of common decency exhibited by our President. Firing someone should be hard, but one thing you must do is let the person know before you tell others not involved in the process. Apparently, Comey found out while making a speech across the country after someone saw it on a TV news report.

That is extremely poor form, but not a surprise given our President’s history of taking advantage of people. It should be noted that a White House source said the President kept the firing close to the vest, so the roll out was chaotic, even beyond their normal chaos level.

As a former manager, I have had the misfortune of having to let someone go. Even after vetting the issue to make sure this action was ultimately needed, it still bothered me to have to ask someone to leave and it showed when I did it. The process must be handled with as much grace as possibly can be mustered.

Yet, our President did not take the time to make sure Comey knew beforehand. Comey served our country for many years and deserved better. When a senior person was being let go in my office by the bold line matrix management, I asked if I could sit in to honor the man’s thirty five years of service. We owed him that.

To me, it is very obvious this President is hiding something. The fact he wanted to get the firing announced in time for the evening news is telling. The fact he wanted to do something to respond to Sally Yates saying he knew well before Flynn’s firing that Flynn is trouble is telling. The fact Comey was fired after he wanted to expand the scope of the Russian investigation per several Senators is telling.

But, let’s set that aside. The fact our President fired someone and announced it before the employee acknowledged it is telling. It tells me exactly what kind of leader our President is.

Just a man with words

My favorite editorial offering each week is when conservative columnist David Brooks joins with liberal columnist Mark Shields on PBS Newsour. Each Friday, they say grace over the news events of the week.

Usually facilitated by Judy Woodruff, these two pundits offer context and civil discourse. It is obvious each has profound respect for the other, as even when they disagree, the rationale is supported by good observations.

It should not be a surprise that both are somewhat alarmed and bemused by our President. In fact, Brooks (along with fellow conservatives Michael Gerson, George Will and Charles Krauthammer) has been a recurring critic of the man who became our President.

Earlier in the year, Brooks described the White House under our new President as “equal parts incompetence and chaos.” This was just following the horribly crafted, vetted, communicated and executed travel ban that caused so much negative reaction.

Recently, after yet another week of bizarre statement and actions that the President’s people had to scurry to defend, he made another insulting reference to the President as being “just a man with words.” Taken in the context of the piece, the President is not a man of conviction and will say just about anything, often not with a lot of thought.

And, that is a sad state of affairs. George Will spoke of the unforced errors when the President just says or tweets things. Will said he has made the world more dangerous and hopes that when the 3 am calm comes with a real problem, they just let the President sleep and wake up Genetal Mattis.

Just a man with words. Unfortunately, many of them are not truthful or well thought out.