When Bank of America bought Countrywide Bank for $2.5 billion in 2008, it inherited Countrywide’s infamous toxic mortgage policies.

By 2011, the Wall Street Journal reported that the acquisition had already racked up $20.6 billion in charges related to Countrywide’s shady mortgage practices:$8.5 billion to investors, $5.5 billion into a defective-mortgage payback fund to cover future claims, and $6.6 billion in various other costs.

And now there’s more bad news for the company’s shareholders: a $16.65 billion settlement with the Justice Department over the Countrywide mortgages. And let’s not forget the legal bill, now around $70 billion, not to mention the possibility of criminal prosecutions.

In short, Countrywide’s disgusting practices have now cost Bank of America over $107 billion: more than 50 times the acquisition price.

Lessons to businesses:
1. Business ethics is a lot cheaper than predatory practices
2. Be very careful when you buy toxic “assets” that turn out to be big liabilities

I’ve been making the case since at least 2002 that green and ethical business practices are more profitable than crooked ones. If you’d like to know more, please pick up a copy of my . It’s been on the best-seller list at least 32 months, so I guess people find it pretty useful.

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A front-page story in the Minneapolis Star-Tribune reports that a court ordered a utility company to buy the organic grass-fed cattle farm it ruined by driving a powerline through it. Nice to see David beat Goliath every once in a while.

Hmmm. Maybe this strategy can be applied (at least in Minnesota) by organic farmers suffering the double indignity of losing their organic status because of contamination by GMO plants from nearby farms, and then getting sued by Monsanto for illegally using the seed they didn’t want in the first place.

But a far better solution, of course, is to develop projects in ways that don’t threaten organic farms. We need more of those, not less.

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Very interesting post on Business Week: “Can Small Businesses Start a Gay Rights Movement in Mississippi?

I totally support nondiscrimination in any public accommodation or retail setting—and I’m delighted to see the “We don’t discriminate. If you’re buying, we’re selling” campaign in Mississippi. But at the risk of alienating some of my friends, l think service businesses–especially values-based ones—are a different case. Before you jump all over me—read the language I send to new prospects for my marketing and consulting services:

Please note that I reserve the right to reject a project if I feel I’m not the right person for it. This would include projects that in my opinion promote racism, homophobia, bigotry or violence–or that promote the tobacco, nuclear power, or weapons industries–or if I do not feel the product is of high enough quality that I can get enthusiastic about it.

Notice that this language doesn’t discriminate against a person or class of people–but it certainly does discriminate against a set of beliefs.

Now, if I reserve that privilege for myself, how can I possibly justify withholding it from someone else who runs a service business and has different values than mine?

Also, there’s a provider quality issue. If I were forced to write a piece of marketing copy for a product whose values I despised, I would do a terrible job. Even if I consciously tried to do my best, it would come out shoddy and insincere, because I wouldn’t believe in what I was promoting. By the same token, I can’t imagine why a same-sex couple would WANT to hire a homophobic wedding photographer (one of the examples cited in the article); the pictures will be terrible.

If you’re renting a room, buying a sandwich, riding a bus, patronizing a theme park…yes, you should have the right to be served. But if a service provider is being asked to use specialized skills to support a cause that service provider finds morally repugnant, I’m not at all sure we should coerce that behavior.

Please comment below. I’d love to get some good dialog going on this.

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I choose not to participate in the always-crowded and frequently violent orgy of consumerism called Black Friday. I do my best to shop locally most of the time, I don’t like crowed craziness, and I know Black Friday is not really a help to local small businesses that can’t afford to deep-discount.

There’s an alternative celebration on the day after US Thanksgiving that resonates more with me: Buy Nothing Day: 24 hours without any purchasing activity. I can’t always do it; sometimes the gas tank is empty or I’m flying home from Thanksgiving in another part of the country. But this year, I see no reason to spend any money today.

Wikipedia has a nice page on the history of Buy Nothing Day and some creative incarnations of anti-consumerism.

Meanwhile, society at large is going in the opposite direction. I was really hoping that the big-box store openings would be a flop. Unfortunately, there were big crowds leaving their families to chase down bargains. This, I see as a blow against workers’ rights. I very much doubt that all the employees working yesterday were volunteering to work on a holiday. In fact, there are demonstrations at Walmarts all over the country today, protesting this encroachment on workers’ family time. In my area of Western Massachusetts, it’ll be 3 p.m. at the Walmart in Hadley.

 

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Progressives can be a gloomy lot. Too often, we focus on all the things wrong with society, all the problems we need to fix. I say “we,” because I’ve certainly done my share of that global kvetch.

But every once in a while, we actually win a major victory. I’ve been actively involved in a few of them, and I have to tell you, they feel great.

One of my favorite members of Congress, Rep. Alan Grayson (D-Fla) knows the importance of celebrating our victories. He sent out an e-mail with the headline, “Hey, We Progressives Won Something.”

I opened the e-mail and discovered what we won: we didn’t go to war against Syria. And Syria destroyed its chemical weapons stockpile, under international supervision. The massive outcry of opposition certainly helped us get there.

Grayson gives us a lot to celebrate:

Let’s celebrate the war that never happened.

Let’s celebrate NOT having to hold sad and somber funerals for young Americans who would have lost their lives fighting in Syria.

Let’s celebrate NOT having to nurse and care for the wounded veterans who would have returned from the U.S.-Syrian war.

Let’s celebrate Congress NOT having to appropriate billions of tax dollars in emergency spending to support U.S. military operations in Syria.

Let’s celebrate NOT having to attend bitter marches protesting the U.S. war in Syria.

Let’s celebrate NOT having to rebuild Syria’s roads and bridges and schools, so that we can have a shot at rebuilding our own.

Let’s celebrate peace.

We won the battle, and the military-industrial complex lost the war.

We should be proud of our victories, because our victories matter. I know that politics sometimes can seem discouraging right now. Progressive often seem to lose, and lose frequently. But, you know what? Sometimes we win. And when we win, we save lives. We promote equality. We serve the cause of justice. We improve people’s lives.

(You can read Alan Grayson’s whole essay at this blog.)

Indeed, we do! Our actions–as individuals, and especially when we band together–actually do make a difference. Think how much poorer the world would be if the likes of Nelson Mandela, Lech Walensa, Wangari Maathai (the tree-planting woman of Kenya, who won a Nobel Prize for her work establishing a greenbelt in her country), Gandhi, Gray Panthers founder Maggie Kuhn, and Martin Luther King, Jr. had not walked it.

And you don’t need to be an activist. The world is richer for the presence of scientists like the brilliant energy strategist Amory Lovins, who is still very much alive–and Jonas Salk, Rachel Carson, and George Washington Carver, who are not…writers like Harriet Beecher Stowe, Alice Walker, and even Chicken Soup’s Jack Canfield (his The Success Principles is the one self-help book I regularly recommend)…and ordinary people whose names you won’t recognize, who turned their lives into blessings for the world. I’m going to honor one of those unknown heroes by name: my late mother, Gloria Yoshida, who was a civil rights volunteer in the 1960s. If a black person was told an apartment had already been rented, my 5’3″ white, Jewish mom was one of the people who would go and try to rent it afterwards. I remember her yelling at our own landlord, who towered over her, and looked pretty ashamed as she lit into him because “you just don’t want to rent to them because they’re black.”

That family history made it easier for me to take on a long list of causes over the past 40 years–even organizing the movement that saved a threatened mountain while all the “experts” said “this is terrible, but there’s nothing we can do.”

What are YOU doing to make the world better? Please share in the comments section, below.

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I revisited a post I’d written on election reform, back in 2007. In that post, I listed seven specific steps the United States could take to make its elections more representative and relevant.

But I left out a huge one—did I think back then, that it was so obvious it didn’t need to be listed?

Getting. Money. Out. Of. Politics.

That means not only repealing the wretched anti-democratic Citizens United decision, but much more. It means making politicians once again responsible to the people, and not to well-funded lobbyists. It probably means public funding of candidates, and limits on the dollars that can be spent. Ideally, it would mean an end to TV advertising of smear ads, and replacing them with a list of candidate websites (not just the largest parties but any party that achieves an agreed threshold of support) where people could learn the candidate’s positions on actual issues—in more depth than attack sound bites.

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I hope Obama and the Democrats learn their lesson. when they refuse to comprise on things that should not be compromised on, when they stand up for their principles, they win.

What a great president he might have been (and perhaps still could be) if he had figured that out in 2009. There is a difference between conciliation and giving away the store, and every time he kowtowed, the other side saw him as weak, and took out their lances again to whittle things down even further.

Of course, it helped that progressives and liberals came out in force to tell him he was doing the right thing. One of the lessons Obama should have taken from the 2008 election campaign is that he can organize a large constituency that “has his back.” and we progressives can also organize to push him leftward when he dirfts like a rudderless boat in the face of pressure from the right.

We have to remember that Obamacare was a Heritage Foundation invention. The left wanted single-payer, which Obama refused to even discuss.

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Last Wednesday, my local paper’s lead story was a profile of two long-time peace activists: Frances Crowe, age 94, and Arky Markham, 98. I’ve known them both for decades; you can’t be involved in peace and social justice issues in our area for long without encountering them. I saw both of them at the peace demonstration last Monday, in fact.

31 years ago, when I was actively freelancing for this same paper, I published an interview with a different pair of legendary local peace activists, and was thrilled when the paper ran it on the front page.

Of course, these four wonderful people are just the tiniest fraction of people doing good work for peace in our neighborhood and around the world.

Let’s tell our newspapers we want more stories like that on the front page :-).

Note: you may have to be a subscriber to view the link, but you should be able to at least see the headline and lead paragraph.

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All through the Vietnam era, we used to hear that war was terrible in so many other ways, but good for the economy. It put people to work, it allowed companies facing hardship to find customers, etc. etc.

This was always a misleading argument, as war spending created far fewer jobs than many other categories.

It seems today’s market is much more aware of the potential economic devastation of war. Consider this bit of news:

With the possibility of military action against Syria easing, investors sent the markets soaring to a sharply higher close with the Dow leaping 127 points to 15,191. Nasdaq climbed 22 points to 3729.

Incidentally, money spent on energy efficiency and going green has a much higher rate of return for the economy. Green energy spending creates more jobs, consumer spending, and long-term consumer savings that frees up cash for more spending, while war drives us deeper into debt.

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With the personal history I described in Part 1, our viewing of “No Impact Man” reflects both our urban past and our rural present: two very different worlds. Although we were never hyperconsumerist like Michelle, we certainly absorbed the message of that mindset. Growing up, we lived in a culture that gave very little thought to where its food or clothing came from. Even though I was already environmentally conscious, I was not aware of a single farmers market in New York City until shortly before we moved away, when I learned about the market in Union Square. I bought my veggies at a minuscule, locally owned, independent produce store that paid attention to freshness and quality; I even had a job there for a while.

New York City Is More Open to No Impact Lifestyle Now

On the other hand, New York City is one place where it’s considered normal not to have a car. And since our day, the city has evolved not only much more of a consciousness around local and green, but an infrastructure. Colin Beavan and Michelle’s Manhattan residence is walkable from the massive 4-times-a-week farmers market in Union Square (up to 140 vendors). The market was their major food supplier for their year of localism.And they could  shop often enough that living without a refrigerator was not that big a problem (though there was at least one spoiled milk incident). When I lived in the city, the Union Square market actually did exist—it was founded in 1976)—but it was tiny, much less frequent, and not widely publicized. These days, there are at least 107 farmers markets in the city, 54 of them under the umbrella of GrowNYC.

Colin Beavan’s Choice

Colin Beavan, co-star with his wife, Michelle Conlin, of “No Impact Man,” decided to phase down most modern conveniences. No plastic packaging, no food from farther than 250 miles (goodbye, olive oil, coffee, chocolate, and black tea—and goodbye to nonlocal wheat, rice, and most other grains—though there is a small amount of wheat being grown here in Western Massachusetts, well within Colin’s 250-mile limit), no vehicles that had a carbon impact (so long, buses, cars, taxis, and even the subway), no elevator to their 9th-floor apartment, even no toilet paper (using washable cloth, instead). Eventually, no electricity in their apartment, except for a solar panel that charged Colin’s laptop. And somehow, he managed to convince Michelle, a self-described nature-loathing fast-food, designer fashion, and television addict, to go along.

What Happened

Colin and Michelle (and their toddler, Isabella), changed pretty abruptly from total immersion to near-total withdrawal from the conveniences associated with the yuppie New York City professional lifestyle. But they didn’t withdraw from society. They still had their old friends—and made new friends through the farmers market, a community garden, and Colin’s volunteer work. And they got tons of press, with major features and appearances from the New York Times to Good Morning America and the Colbert Report. More importantly, they both found a deeper connection with the world around them, and to their daughter. The lifestyle that at first felt like a hardship actually became liberating—even to skeptical Michelle. And both noticed a health improvement, moving from a sedentary lifestyle to one involving a lot of walking and bicycling, and changing from processed industrial foods to a locavore vegetarian diet. Michelle even reversed a prediabetic condition, while Colin joked that the New York Times article, with its headline about giving up toilet paper, should have been called “How I Lost 20 Pounds Without Going to the Gym.”

My Bi-Cultural Perspective on the Experiment

I promised you that I’d bring my mixed NYC and rural perspective to analyzing this movie. And I will do so in Part 3, tomorrow, and actually conclude this series.

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