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Show THE ZEPH YRk/AUGUST-SEPTEMBER 2008 ($244,168) and direct printing/mailing ($646,823). Of its assets almost $20 million is invested in “money market funds, equities and corporate bonds.” It even makes $142,000 a year in royalties by putting its name on credit cards. At The Nature Conservancy, net assets approach $4 billion, Managing those assets comes at a high price as well. TNC’s “managing director of human resources,” Darryl Varnado received $385,000 in salary and benefits in 2005. Four other top staffers earned between $225,000 and $250,000 annually. Accounting and tax services exceeded $1.5 million and Cornerstone Partners LLC, Investment Consultants were paid $1.6 million for their services. Still, TNC’s net assets grew by another $350 million in 2005. Tex’s RIVERWAYS VVVVVVVVVVVVY 3-D RIVER VISIONS, INC. Canoe Outfitting and Rentals Shuttle Service Jetboat Tours Another Fake Endorsement... And the National Resources Defense Council (NRDC) claims assets exceeding $73 million. Its president earns $360,000 is salary and benefits, its executive director, about HENRY DAVID THOREAU $240,000. But when it comes to social and political issues...the line between charitable giving and undue influence blurs. Can a social activist accept money from an individual or company, whose goals and values stand in direct contradiction to those of the recipient? N But despite these high salaries and the positioning of very wealthy individuals on the boards of directors—it is after all the boards that set policy and goals, not the lifetime staffers that carry most of the day to day workload —is it really a problem? Environmentalists face extraordinary and persistent opposition from well-funded lobbyists and corporations who have unlimited amounts of money. The argument made, over and over again by the green community is that it must have the financial resources to fight the “bad guys,” and that the generous contributions of the mega-wealthy are an indispensable aspect of that strategy. Bs £ U Great... one more tourist. BS \ PO Box 67 691 North 500 West Moab, UT 84532 435.259.5101 info@texsriverways.com www.texsriverways.com Chris Peterson, a former executive director of the Glen Canyon Institute, now with the Murie Center in Wyoming noted in 2004, “Those with experience in the field of environmental advocacy deem it necessary to play ‘dirty’ and enlist any and all means necessary to accomplish their goals, believe that walking the alternative ‘high road’ is an exercise in futility and ultimately leads to failure. (sic)” It is true that philanthropy by the very wealthy has greatly enriched and improved American Life. Colleges and universities, museums, art galleries, libraries, medical research—all of these institutions have flourished in part at least to the generosity of a limited few. Humanitarian aid by the wealthy to prowide food and shelter and medical assistance to disaster victims around the world is universally praised. But when it comes to social and political issues, where opinions vary and philosophies clash, the line between charitable giving and undue influence becomes a blur. Can a social activist accept money from an individual or company, whose goals and values stand in direct contradiction to those of the recipient? For example, years ago, Harvard University was forced to divest itself of stock investments with Exxon Oil because the company operated in South Africa and many critics believed the company contributed to apartheid there. Harvard eventually sold its stock to avoid any suggestion of impropriety |400 EAST & MILL CREEK DR..! 259.6999 EVERYBODY COMES TODAVE’ $ or charges of hypocrisy. It is a frequent dilemma. Should environmentalists have the same concerns? And do these wealthy benefactors offer their financial resources out of genuine fears for the planet's well-being and a desire to improve the quality of our environment, or is it simply one more public relations enhancement for their global corporate portfolios? Or even worse, is it a way of controlling and diverting policy decisions that might well impact their own financial interests? As Harold Shepherd, the Issues Director of the Moab, Utah based Redrock Forests has noted, ”...perhaps in the 21st Century, idealism is no longer applicable.” Again, as an example, David Bonderman’s international business interests offer some FROM FOOTPRINTS 121 EAST 100 SOUTH #108 MOAB, UT 84532 800.635.5280 paradoxes worth noting—so much so that his extravagant personal life, by comparison, hardly elevates, relatively speaking, a concerned eyebrow. Top 10 oie fe to Move the Tailings Pile TPG/TXU... THE OLD ‘BAIT AND SWITCH?’ updated from Nov 2005) Among Texas Pacific Group’s most recent acquisitions, none has received 10. Add a dump trailer to every Deso raft trip shuttle bus... 9. Donate it to the NRDC to sell as an alternative energy source... 8. Let David Bonderman use it for his home construction...(that should use most of it) 7. Sell it to Iran for processing and to sell back to us... 6. Dam up the Colorado at Dewey, flush as required... 5, Have David Oreck design a vacuum that will suck it up... 4, Let politicians use their gold shovels for something worthwhile for a change... 3. Offer it by the ton on eBay - somebody will buy it... 2. Add water and spray on the mosquitos in the slough.. 1. Stop studying it and MOVE it already... more fanfare than its purchase last year of TXU, the giant Texas utility company. Partnered with the investment firm Kohlberg Kravis, their bid of $45 billion made it the biggest buyout in history. Working with The National Resources Defense Council (NRDC) and the Environmental Defense Fund (EDF), TPG promised to transform the utility company into one of the greenest in the nation. Their commitment included a reduction in the number of coal-fired power plants that TXU had proposed to build in the next decade, from eleven to just three. Many conservationists were ecstatic. Treehugger.com reported that it, “hopes the good guys have enough personal energy and carbon offsetting credits at hand to saddle up for a ride to the next town that needs their help. The climate bad guys have had ‘free reign’ for a long time.” As for the #1 “good guy” behind the move, they reported that, “David Bonderman bleeds green. But those who know the man behind the largest buyout in history say it’s as much from being Earth-friendly as money hungry.” (photo above: David Bonderman) continues on next page... | |
