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Tom Borelli, National Center for Public Policy director, on why he is accusing Al Gore of violating Apple's trade policies, and why he is bringing thi...
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I'll board members -- rally is director of the national center of public policy research.
And he's a shareholder pushing for an investigation and he joins us now in time.
You have insulated and put on the company's proxy statement proposal number four in that proxy statement that we voted upon next week in which you are accusing Al Gore of violating the company's.
Business conduct policy standards what specific -- Lee is causing you to put this issue up for a vote.
It's essentially we think board member Al Gore is -- -- company to advance his own personal interest in renewable energy.
What we know is Al Gore has huge investments in renewable energy we also know we need legislation capping trade or mandates for those investments to get a profit.
And then magically all of a sudden turn to -- climate debate.
Apple dropped its membership in the US chamber of commerce the US chamber of commerce was leaving -- tac -- block.
Cap and trade so we think Al Gore.
Somehow was involved with the company dropping its membership and and the traders.
So IA's Seattle with a camera -- we called Al Gore's office for response and they referred -- apple who issued this as a response in their shareholder proxy extremes.
-- the company's committed to transparent corporate governance practices -- policies that promote the accountability of the board.
-- decision to quit the chamber was not driven by any conflict of interest or undue influence by any.
Member of the board and frankly -- time eight you know -- it's a little bit hard -- to buying tier and argument that he's done any shareholder damage considering today we're seeing.
Apple shares at an all time high and frankly apple doesn't have a dog in this fight when it comes to cap and trade absolutely.
-- they think that's the point didn't have a dog in the fight and happy trigger they -- they got involved in a climate debate but they do have product piracy concerns they have.
Trademark concerns they have other things that -- of a trade group like you know US chamber can help them what -- the stock has been fantastic that's not the point re appoint -- what is the role of the board member and is no doubt that.
Yeah of this statement says you know -- the -- privacy they're statement on.
Standards stands of conduct dry explicitly -- -- appearance.
Of a conflict of interest can be a problem for more hesitant whereas disease can make a lot of money what is the -- we are trying to reach for here.
I mean -- any traction with other shareholders yet we haven't heard from many its shareholders but the meeting just over a week away and and we plan to be there to really challenge the board the -- What was there what was their official rationale for not enough for him.
Dropping its allegiance with the chamber of commerce.
You know that's another really good question they said they used -- violator they were concerned that -- climate policy.
But let's have to welcome both be honest apple links with computers in China if you concerned about the environment why -- -- China.
What you know they have very poor quality that.
You know speaking of that I'm gonna certainly a little bit because coleslaw to get hit pretty hard.
Natural gas obviously.
Being more more celebrated the president even talking about it in -- state of the union.
Are we seeing some sort of major transition in this country now just completely away from called with or without the heavy hand of the EPA.
How are so what is the heavy -- of the -- -- -- -- that's what's causing absolutely -- cap and trade.
Died legislatively the EPA's wielding its regulatory acts -- the coal industry notice in the president's speech.
In his state of the union speech he said all of the above energy never mentioned coal that's out of the game.
Can we afford for that to be out of the game I mean I I've been I've heard that where the Saudi Arabia of coal that we have enough -- that.
Keep us energized for the next zillion years so.
Absolutely we are we have a a trust not a whole but we really have to -- as the transition costs.
You can go to natural gas but it.
Right now coal provides about 45% of for electricity some states like Ohio Indiana they get eighty to 90% of their electricity from coal so you gonna be forcing.
By the EPA to this transition.
And in Ohio -- -- electric power.
I think transition period I think it's gonna cost them something like eight billion dollars which is gonna be transitioned to the concern and that ultimately the consumers gonna pay and I -- get manufacturing jobs start with with electricity prices skyrocketing.
Like then president.
Well there I'm gonna watch his battle with the unit Al Gore.
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