Changing the Climate Marcum LLP | Accountants and Advisors | New York, New Jersey, Massachusetts, Connecticut, Rhode Island, Pennsylvania, California and Florida Certified Public Accountants
Changing the Climate
It is urban legend that the formula for Coca-Cola is one of the best kept secrets in industrial history. But one thing's for certain. They need water to make soda, and the company's vice president for environment and water resources, Jeffrey Seabright, told the New York Times that the epic global swings between drought and flood are not only disrupting the company's water supplies, they are also disrupting their production of essential sugar and citrus crops
The Coca-Cola Company now officially considers climate change an "economically disruptive force" on its balance sheet. So does Nike, which in 2008 lost four plants in Thailand due to flooding. Nike now reports the impact of climate change on water supplies on its financial risk disclosure forms to the SEC, according to the same article.
Enough of Robin Hood Politicians Marcum LLP | Accountants and Advisors | New York, New Jersey, Massachusetts, Connecticut, Rhode Island, Pennsylvania, California and Florida Certified Public Accountants
Enough of Robin Hood Politicians
For the third week in a row, politics takes center stage in my mind. This time it's the growing rift between New York's Governor Andrew Cuomo and New York City's new Mayor, Bill DeBlasio. The rift centers around one of the cornerstone promises of Mr. DeBlasio's campaign: instituting full-day pre-K education for every eligible child and funding it by increasing the New York City tax rate for those residents earning $500,000 or more.
In his recent State of the State address, Governor Cuomo, facing a re-election race himself this coming November, announced he would create a state-wide pre-K program, would fund it out of the State budget and, in fact, would lower taxes in New York State. New York City would naturally benefit from these initiatives along with the rest of the State. How's that for stealing the Mayor's thunder?
The Political Investigation Season Begins Marcum LLP | Accountants and Advisors | New York, New Jersey, Massachusetts, Connecticut, Rhode Island, Pennsylvania, California and Florida Certified Public Accountants
The Political Investigation Season Begins
There are still almost two years to go before the 2016 Presidential election, and two of the leading presumed contenders are already under investigation by various government agencies: former First Lady, U.S. Senator and Secretary of State Hillary Clinton (a Democrat) and the current Governor of New Jersey, Chris Christie (a Republican). She for Benghazi; he for the George Washington Bridge fiasco and the New Jersey public relations campaign featuring his family in the aftermath of Super Storm Sandy.
What I'm going to call "investigation season" is now fully underway. And this is just the beginning for Secretary Clinton and Governor Christie, assuming neither one declares they're not going to run.
The George Washington Bridge: Candor and the Public Trust Marcum LLP | Accountants and Advisors | New York, New Jersey, Massachusetts, Connecticut, Rhode Island, Pennsylvania, California and Florida Certified Public Accountants
The George Washington Bridge: Candor and the Public Trust
The first major political scandal of 2014 is unfolding about five miles from where I'm writing this, just across the bridge that is at the center of the controversy: the George Washington, which connects Northern New Jersey and New York.
It seems that some very close aides to N.J. Governor Chris Christie, a long-favored Republican front runner for the 2016 Presidential election, decided to retaliate against the Mayor of Fort Lee, N.J. where the GW connects on the Jersey side, for not endorsing Governor Christie in the 2012 N.J. governor race. What they allegedly did was to order the closing of several lanes of the bridge over a period of four days for the sole purpose of creating crippling traffic gridlock in Fort Lee. The tie-up was significant enough to make front page news as emergency vehicles, school children and commuters stagnated.