Archive for March 12th, 2008
Environmental Responsibility V. Shareholder Value - The Tale Of Two Masters
Wednesday, March 12th, 2008Hannah Jennings
Matthew 6:24 “No man can serve two masters. For either he will hate the one, and love the other, or else he will hold to the one and despise the other. You cannot serve both God and money.” To whom do we owe our affection? Do we bless the shareholders without thought of anything more, or do we consider ethical and environmental obligations? Is there a balance that can be struck between the two?
The Wall Street Journal reported Rick Wagoner, General Motor’s chairman and chief executive, announced on Sunday, January 13, 2008 that the company was purchasing an equity stake in Coskata. Coskata, a start-up company in Warrenville, Illinois, plans to make ethanol without the use of corn. G.M. would not disclose how much it paid, nor the amount of stake they took in the company. This is the first time that a car company has gone on record to invest in alternative fuel sources. Was this an act of environmental obligation? “I really don’t see the logic of it,” Christopher Flavin is quoted as saying. Flavin is the president of Worldwatch Institute, a Washington environmental group. He believes that G.M. should concentrate on maximizing the fuel economy of their current line. Lee Schipper, from the University of California, Berkeley, has given a stamp of approval for the project. “Ethanol made from waste materials could result in substantially less carbon per mile.” He goes on to say later in the article, “Why wait for someone else to invest?”
In a similar movement, Wal-Mart recently “helped reduce the package of a popular toy. As a result, they were able to ship the product using 230 fewer containers, saving 356 barrels of oil, and 1300 trees.” Constance E. Bagley writes in his book Managers and the Legal Environment, “Issues of social responsibility arise in the areas of product safety, sweatshops, and underpaid foreign workers, advertising, campaigns, antitrust violations, client conflicts of interest, managed earnings, and Internet companies.” Most companies find a large gray area in the social responsibility angle. In the early 1990’s, for example, Wal-Mart had made claims that products were made in America. In truth however, 12 year- old children were making the product in a Bangladesh sweat shop. Now, Wal-Mart clearly labels their products of origin, and has gone to the “Save Money, Live Better” slogan. They ease the conscience of the consumer with the promise of living better by spending less money. In recent years they [Wal-Mart] have adopted social and environmental standards. In further efforts to clean-up their social policies, Wal-Mart has also begun to support local companies, such as Nectar of Life Coffee Company, http://www.nectaroflife.com. Nectar of Life Coffee Company is a 100% organic and Fair Trade certified coffee roaster with roots in Spokane, Washington, and Coeur d’Alene, Idaho. Wal-Mart’s pushed to improve their image this decade, and it is paying off. They have increased the amount of organic products (crops produced without harmful pesticides and herbicides) offered nationwide.
Wal-Mart has also begun to build “green” stores to meet their energy needs. You can view more information on how Wal-Mart is attempting to, “provide cost effective merchandise while reducing their environmental footprint” on their web site. With G.M. now on the environmental cleansing bandwagon, you can expect more companies to find ways to compete to provide alternatives to fossil fuel, energy, and other resources. Countries around the world are shifting their focus to filling the need for alternative fuel.
Published in the New York Times on the same day, was an article by James Kanter, Europe is considering banning the imports of certain biofuel crops that lack sustainability. In countries such as Malaysia, and Indonesia mass deforestation is occurring in an effort to plant palm trees for the palm oil export. Palm oil is currently one of many crops that are being produced for use as alternatives to fossil fuel. Although Europe’s current ethanol consumption is only at 1% as of 2005, they are thinking ahead to the impact of using food for fuel. “Farmers growing corn for ethanol could also be affected, because the European rules contain provisions on preserving grasslands, said Mr. Drinkwater.” Matt Drinkwater is biofuels analyst at New Energy Finance in London.
With all the efforts of reducing a global impact are we really making any headway? “A flurry of studies has discredited some of the claims made by biofuel producers that the fuels help reduce greenhouse gasses by reducing fossil fuel and growing carbon-dioxide-consuming plants. Growing the crops and turning them into fuel can result in considerable environmental harm.” (New York Times, January 15, 2008). So turning food into fuel is not a good idea after all.
The shareholders of General Motors may not have all agreed on the financial choice of Mr. Wagoner, but perhaps his announcement will help boost stocks as perceptions of the company’s standards “change.” The goal of improving stocks could be as simple as showing their care about the earth. While steering away from biofuel, Mr. Wagoner and G.M. stepped into the unknown world of ethanol made from waste. G.M.’s equity stake purchase will most likely be viewed as a very intelligent maneuver. There is a growing surge toward consumers demanding companies show their financial, and environmental responsibility. They are touted on commercials from companies such as Subaru that have 0% waste plants. McDonalds that purchased $3 Billion in materials made from recycled products. Ford Motor Company has even created a new “guilt-free” luxury vehicle, made from recycled materials, and “chrome-free” leather. It would seem only logical for companies to hedge their pocketbooks where America is buying. Clearly, America wants good to work.
Hannah Jennings is a student, wife, mother and Co-Owner of Nectar of Life Coffee Company, www.nectaroflife.com. Nectar of Life Coffee Company is a kosher certified coffee roaster specializing in organic Fair Trade coffees. Nectar of Life’s passion is to provide the public with truly gourmet, Fair Trade organic coffee and promote social justice. To contact 509-979-5245.
What Might Drive You To Take Out Payday Loans?
Wednesday, March 12th, 2008N.Chandumrongdej
Are you in a financial bind? Don’t despair. There’s a payday loan waiting for you. Some people think payday loans are an easy way out of a financial bind. However, there are some serious disadvantages to getting payday loans. You have to be extremely careful when making the decision to get a payday loan. So, just what might drive you to take out a payday loan? Here are some reasons. You and a lot of other people think about applying for a payday loan when:
Your back is up against a wall. If you have big bills coming and you just can’t fathom how you’ll pay them, but your payday is just around the corner, you might think about getting a payday loan. You just have to pay your bills. So you need to take some action.
You’re credit is too bad to use other alternatives. Sure, there are credit cards, loans, and lines of credit out there for people with bills just like you. But if your credit is in a state that makes it hard for you get approved for either of these things, a payday loan just might be your best and only option.
You need money fast
Is your bill due tomorrow? You might want to do something quickly then. There’s a long process to receive credit cards in the mail and to get approved for traditional bank loans. Even line of credit companies will tell you it’ll take 3-5 business days before they can deposit any money into your checking account. However, payday loans are very quick.
You don’t care about high interest rates
One disadvantage of payday loans is their high interest rate. Some experts say it’s as high as 325 percent. That’s a lot of money in interest and fees. But if you think it’s more important to pay a bill on time than to pay a little extra cash for getting the loan, you might consider applying for a payday loan.
You only need a small amount of money.
Because the interest rate on payday loans is so high, it’s best to use these loans when you don’t need a large amount of money. Two or three hundred dollars won’t hit you too bad when it comes to interest. But a one thousand dollar loan could put a huge dent in your pocket.
As you can see, there are some pretty good reasons why people apply for a payday loan. And while all of the above are reasons to do a Google search for a payday loan right this second, there are many reasons not to think about applying for a payday loan. You shouldn’t think about applying for a payday loan if:
You know nothing about nor do you understand interest. If you think APR is a machine you stick a tape into, hold on. You should think twice before you apply for a payday loan. That’s because many people who take out payday loans end up in a cycle of debt. And before they know it, they just don’t know what to do.
Where To Find A Payday Loan?
Wednesday, March 12th, 2008N.Chandumrongdej
Looking for fast, easy cash? You may want to consider getting a payday loan. These loans are like speedy cash advances. Payday loans are supposed to be paid back on your payday, in full plus any fees and interest. Sounds good right? You’re right. For some people, a payday loan may be a good idea. And if you’re the person a payday loan is right for, you may be asking yourself just where you can find a payday loan.
There are many places to find payday loans. These places range from the traditional types to the new age ones. And payday loans are probably becoming more easily accessible day after day. That means that even though there are many places to get a payday loan today, there may be even more places to get one tomorrow. But for now, let’s discuss the places where you can get a payday loan today.
Banks.
Many banks will give people payday loans. You may even be able to get a payday loan from a bank that does not have you on its records as a customer. Banks make a sizeable profit off of people who take out payday loans. Therefore, most banks will have no problem signing you up for a payday loan. However, since there are some banks that do not give out payday loans, it’s recommended that you call your local bank to inquire about this service.
Cash advance stores.
Often, you will see places along the side of the road or just in your local neighborhood that offer cash advances to people who need cash in a hurry. Cash advances are all over the place. You can find them in big cities and even in small suburban areas. Sometimes these types of places will only advertise that they give out cash advances. And they won’t mention anything about payday loan services. Therefore, it’s also a good idea in this case to do some calling around before you spend time visiting. Just call and ask if your local cash advance venue offers payday loans, and before you know it you’ll be on your way to getting the money you need.
Online.
There are so many things you can find online. It should be no surprise that the net is the most popular place for finding payday loans. You don’t even need to get in your car to fill out an application. All you need is your nimble fingers and an open mind.
There are many advantages to using the net to find a payday loan. Those include convenience and options. With the internet, you have access to hundreds and maybe even thousands of options for payday loans. If you only try the banks and cash advance places, you might be limited to your local area. On the other hand, with the internet, you just might never run out of options.
And those are the places where you find a payday loan. Happy searching for the money that just might get you out of your next situation.
Why A Payday Loan Is Just Like A Signature Loan?
Wednesday, March 12th, 2008N.Chandumrongdej
There are few names out there for payday loans. Sometimes they are called convenience loans. Sometimes they’re called short-term loans. But really, in the big scheme of things, payday loans are signature loans. There are a few reasons why payday loans are often known as signature loans. This article will discuss some of those reasons.
Signature loans are what are making the world go round in today’s credit crisis. As people with no credit or very bad credit still want to somehow get credit to help them in a time of emergency, lenders are getting smarter about making opportunities available. These opportunities have come in the form of signature loans or payday loans.
Payday loans are becoming the next best thing to traditional loans, credit cards, and even savings accounts. So it’s no surprise payday loans have been gaining in popularity every since they came on the market. But have signature loans been around for a long time in forms other than payday loans? Maybe. People have always had emergencies. And not everyone enjoys asking for handouts from friends or family members.
A signature loan means just what the name applies. All you really need to get a signature loan is your signature. That’s the only real verification information loan lenders need. And with payday loans, the case is pretty much the same. Sometimes, you may need to bring in just a little proof of employment, but that’s becoming less and less common because employment can be verified electronically. But again, the main thing you need to get a signature loan or a payday loan is your signature.
As soon as the lender sees your smiling face coming into his or her establishment, he or she will be ready and waiting for you to sign on the dotted line so you can receive your payday loan. A couple of missing proofs like a paycheck stub probably won’t bother the payday loan lender too much.
Signature loans can be used for any reason. And you get can them at any time. Payday loans work in the same way. In fact some online payday loan lenders will let you take out a loan 24 hours a day, seven days a week.
After getting approved for a payday loan, you can expect to see the money deposited in your bank within approximately 24 hours. Payday loan lenders can take as little as a half hour to deposit the money into your account.
Because it’s not a complex process to get approved for a payday loan, many people today are trying to get one. In fact, if this is the first time you’ve found out about a payday loan, you may be tempted to apply for one today.
But there’s just one thing you should remember. It isn’t recommended that you use a payday loan often. Once or twice for a real emergency is ok. But if borrowing payday loans becomes a habit, you may be on your way to getting into a lot of trouble.