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Dave flagged GE’s ecomagination initiative on Sunday, and here’s the Dow Jones wire report on Immelt’s speech:

WASHINGTON — The U.S. needs to be more like Europe and develop a clear environmental policy on issues such as climate change and use of renewable energy, said General Electric Co. (GE) Chief Executive Jeff Immelt Monday.

He called Europe “the global regulatory superpower” when it comes to environmental policy, noting that Europe is using more wind power now because five years ago it set a clear goal to do just that.

Similar actions need to be taken in the U.S., said Immelt.

“Long-term certainty would help us all make smart decisions,” he said, sitting next to executives from some of GE’s customers, such as American Electric Power (AEP) and Cinergy Corp. (CIN). Immelt and the other executives spoke at a press conference on a new environmental initiative GE unveiled Monday.

This is, I think, one of the dynamic effects of the Kyoto protocol that got short shrift amid discussion of whether the U.S. should adopt limits on carbon emissions and whether Kyoto would actually make a dif... Read more

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  • GM turns to greenwashing.

    Look, GM, your bond rating just got lowered to junk status, and now you're participating in this pathetic greenwashing campaign. My advice: Save your advertising dollars and invest the money in catching up to Toyota and Honda.

    UPDATE: Green Car Congress chimes in with some more suggestions.

  • Time to change the way you do business

    Hmmm ... maybe those Reapers were onto something after all?

    DETROIT - Standard & Poor's Ratings Services cut its corporate credit ratings to junk status for both General Motors Corp. and Ford Motor Co., a significant blow that will increase borrowing costs and limit fund-raising options for the nation's two biggest automakers.

    Shares of both companies fell 5 percent or more after Thursday's downgrades, and the news sent the overall market lower.

    The decision by one of the nation's most respected ratings agencies comes as the two iconic American automakers are losing market share at home to Asian automakers, seeing sales soften for their most profitable models and are facing enormous health care and post-retirement liabilities.

    The credit ratings agency said its downgrade of GM's long-term rating below investment-grade status reflects its conclusion that management's current strategies may not be effective in dealing with the automaker's competitive disadvantages.

    My free advice to Ford and GM: spend more time and resources innovating and less time fighting against CAFE standards.

  • Even the Economist …

    ... knows that the energy bill stinks to high heaven: