“We’re done being in the middle of the herd on this issue—we’ve decided to use our size and scale to make a difference,” said Jeff Bezos, Amazon founder and CEO.
The business world continues to speed past the anti-environmental Trump agenda, reflecting the views of customer, not self-interested bought and paid for politicians. In the latest example, Amazon says it wants net zero carbon by 2040 and 100% renewable energy by 2030. It backed up its green words with green cash yesterday by announcing that it will purchase 100,000 fully-electric delivery vehicles from Rivian – apparently the largest order ever for electric delivery vehicles – and devote $100 million to reforestation projects around the world to begin removing carbon from the atmosphere now.
It’s part of the so-called Climate Pledge, a commitment to meet the Paris Agreement 10 years early. Amazon is the first signatory of this pledge, and it will hardly be the last. The Climate Pledge calls on signatories to be net zero carbon across their businesses by 2040—a decade ahead of the Paris Accord’s goal of 2050. Continue reading
SEC Charges and Settles False Financial Disclosures Against Nissan, Former CEO Carlos Ghosn, Former Director Greg Kelly
The $140 million in undisclosed compensation and retirement benefits was never paid out to Ghosn.
After fraudulently concealing from investors more than $140 million of compensation and retirement benefits, Nissan, Carlos Ghosn and Greg Kelly have negotiated cut a bargain plea deal with the U.S. Securities and Exchange Commission. *Nissan, Ghosn, and Kelly settled without admitting or denying the SEC’s allegations and findings. In an administrative proceeding, the Commission charged Nissan with violating the anti-fraud provisions of Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5. (Nissan CEO Hiroto Saikawa Forced Out Over Ghosn Matter)
Nissan settled the charges, agreeing to pay a $15 million civil penalty and to cease and desist from committing or causing violations of the anti-fraud provisions. To settle the charges, Ghosn and Kelly agreed to be permanently enjoined from violating or aiding and abetting violations of the anti-fraud provisions. Ghosn also agreed to a $1 million civil penalty and a 10-year officer and director bar. Kelly agreed to a $100,000 penalty, a five-year officer and director bar and a five-year suspension from practicing or appearing before the Commission as an attorney. Critics no doubt will say the settlement is laughable given the amount of money involved. Continue reading →