He is a hard man who is only just, and a sad one who is only wise. -Voltaire, philosopher (21 Nov 1694-1778)
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Fed law now limits the speed of boats over 35 feet to 10 mph. This is said to be to protect the white whale from being struck; four have been hit in the last two years. This will limit safety and range and will impact the pleasure and working boating industry in what is said to be "unintended consequences" of decreased travel, work, and manufacture for those industries.
I wonder if they are 'unintended.'
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Is Musk really the main story of the day with Ukraine, the laptop, China, Covid, inflation, immigration, drugs, and the crypto conspiracy?
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Modern life has become Romance Literature, with heroes searching for opportunities to display virtue.
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Leverage
Leverage allows for impact beyond numbers or justice, like coups and kidnapping. One quality of modern life is the terrific leverage that has emerged in the hands of small numbers of political devotees, many unelected.
'Securities and Exchange Commissioner Hester Peirce is sounding the alarm on the destructive climate proposal that SEC Chairman Gary Gensler is still trying to jam through on a partisan vote.
This week Commissioner Peirce explained that beyond requiring public companies to demand data on climate risks from even small businesses and farmers in their supply chains, the rule could also force changes in how companies operate and even who runs them. In a speech at the American Enterprise Institute Ms. Peirce noted;
"… the climate proposal mandates disclosure about board oversight of climate-related risks, including identifying board members or board committees responsible for overseeing climate-related risks; detailing board member climate expertise; describing the processes and frequency of discussions about climate-related risks; explaining how the board is informed about, and how often it thinks about, climate-related risks and whether it considers climate-related risks as part of its business strategy, risk management, and financial oversight; and describing whether and how the board sets climate-related targets or goals and how it oversees progress in achieving them. The proposal also includes a corresponding set of disclosures related to management: who is responsible for managing climate-related risks, what their climate expertise is, how they get informed about those risks, and how often the managers responsible for climate-related risks report to the board…"
One comment letter objected that the “disclosures usurp the decision-making authority of corporate boards and executive management, authority specifically granted to them by state corporate law.”
Washington would essentially be forcing every public company, regardless of industry, to focus on climate, while also pressuring them to hire leaders who share this obsession. But even the most climate-obsessed ought to recognize that such change requires a new law, not unelected financial regulators suddenly deciding to appoint themselves ministers of global warming.' (WSJ)
'Securities and Exchange Commissioner Hester Peirce is sounding the alarm on the destructive climate proposal that SEC Chairman Gary Gensler is still trying to jam through on a partisan vote.
This week Commissioner Peirce explained that beyond requiring public companies to demand data on climate risks from even small businesses and farmers in their supply chains, the rule could also force changes in how companies operate and even who runs them. In a speech at the American Enterprise Institute Ms. Peirce noted;
"… the climate proposal mandates disclosure about board oversight of climate-related risks, including identifying board members or board committees responsible for overseeing climate-related risks; detailing board member climate expertise; describing the processes and frequency of discussions about climate-related risks; explaining how the board is informed about, and how often it thinks about, climate-related risks and whether it considers climate-related risks as part of its business strategy, risk management, and financial oversight; and describing whether and how the board sets climate-related targets or goals and how it oversees progress in achieving them. The proposal also includes a corresponding set of disclosures related to management: who is responsible for managing climate-related risks, what their climate expertise is, how they get informed about those risks, and how often the managers responsible for climate-related risks report to the board…"
One comment letter objected that the “disclosures usurp the decision-making authority of corporate boards and executive management, authority specifically granted to them by state corporate law.”
Washington would essentially be forcing every public company, regardless of industry, to focus on climate, while also pressuring them to hire leaders who share this obsession. But even the most climate-obsessed ought to recognize that such change requires a new law, not unelected financial regulators suddenly deciding to appoint themselves ministers of global warming.' (WSJ)
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