This Week in Citizen Joe – 2/11/2008

Listening In. Congress could wrap up a surveillance bill if all goes well this week. The bill would roughly legalize a secret wiretap program that let feds listen in on foreign phone calls, while at the same time adding a bit of oversight from the courts and Congress and, possibly, giving telecoms immunity from lawsuits…

India Gets Socially Responsible (in an Index)

Last week, S&P (of '500' fame) announced the launch of the first socially responsible India index, the S&P Environmental Social and Governance India Index.  According to the KLD press release, the ESG India Index is "the first investable index of companies whose business strategies and performance demonstrate a high level of commitment to meeting ESG standards" in…

Eli Lilly: Lying is the Best Defense

Last week, a funny thing happened on the way to the mailbox. A memo, meant for Eli Lilly & Co. (LLY – $51.22) attorney Bradford Berenson (who is helping negotiate a private settlement for Lilly with the government), went instead to Alex Berenson of the New York Times.

Recession Fear and Dollar Loathing in Las Vegas

Judging by today's selling frenzy on Wall Street, it looks like the market has finally started pricing in a worst case scenario for the U.S. economy. And the time has come to ask some important questions. Is it safe to say that the recession is finally here? If we are in a recession, how long…

Energy’s Black Hole

On Jan. 19, the U.S. House of Representatives passed an energy bill that removed tax breaks for Big Oil. It also mandated the renegotiation of the 1998-1999 Gulf of Mexico oil and gas leases, some of which had mysteriously omitted a clause requiring leaseholders to pay royalties when oil prices exceeded $36 a barrel. Oil…

Exxon Mobil (XOM) Does it Again

This morning Exxon Mobil (XOM) reported on its quarterly 2007 profits. While many oil companies moaned about rising oil prices, Exxon proved that $90 a barrel oil (and above) is not a bad thing for Big Oil profits. MarketWatch reports on the record profits for Exxon: Exxon Mobil on Friday reported its most lucrative quarter…

The State of the Union and Alternative Energy

On Monday night, President George W. Bush gave his seventh and final State of the Union address (eighth if you count the inauguration speech back in 2001). But before I continue, I would like to issue the disclaimer that this weblog is not designed to be an in-depth critique of our president's speech. There are plenty of other…

Cleantech Investing Abounds

Is there an echo in here? The good news coming from venture capitalists last year is that they're continuing to support the growth and expansion of the cleantech industry at a record-setting pace.  According to Reuters, cleantech investment topped $5 billion for 2007, a 44% jump from 2006 (which was, itself, a similar increase over 2005…

Dupont: A Different Shade of Green

If you search the Internet for EI DuPont de Nemours & Co. (DD – $44.77), or simply DuPont, you’ll come across a stand-alone web page called Preserving Open Land: 1983. The page portrays DuPont as a paradigm for the chemical industry and details a supposed history of environmental stewardship which is in direct contraposition to…

Do We Really Need Market Returns?

A recent article in the Christian Science Monitor discusses the eternal question of ethical investing: "Can you have market rate returns and be socially responsible?"  Perhaps it should be framed as, "Must people in the business of SRI (mutual funds) emphasize the ability to meet market benchmarks in order to exist?"  G. Jeffrey Macdonald's conclusion…

Dreaming of a Solar-Fueled Democracy

Imagine the following: You are on the operating table as surgeons perform a delicate procedure on the artery supplying blood to your brain, when, without warning, the lights go out. For 10 terrifying minutes you wait – fully conscious, as you have been throughout the operation – as computerized medical equipment re-starts, using power from…