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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: zeta1961 who wrote (108114)	1/25/2012 3:18:10 PM
From: John Vosilla	Read Replies (1) \| Respond to of 149317

Too much stress on the rich, famous and glamourous? huffingtonpost.com news.smashits.com what hope is there for mere mortals these days?

To: zeta1961 who wrote (108114)	1/26/2012 9:57:27 PM
From: zeta1961	Read Replies (1) \| Respond to of 149317

Breaking: Greenpeace sends SEC complaint re TransCanada’s inflated jobs claims January 26th, 2012 · From the cover note: “It’s wrong for politicians and pundits to use these false numbers, but it’s illegal for TransCanada to lie to investors. The SEC needs to take immediate action to hold TransCanada accountable for misleading investors to boost its valuation,” said Phil Radford, Executive Director of Greenpeace. “TransCanada needs to knock off the propaganda and level with people that they’d create a few temporary jobs just to move dirty oil through our country so it can be shipped to Europe for maximum Big Oil profits.” A correspondent just provided the text of material that Greenpeace has sent to the Securities and Exchange Commission (SEC) making a case that TransCanada is potentially in violation of security laws due to its use of inflated job figures as part of a strategic influence campaign to drive the Obama Administration into supporting this misguided and risky venture. From that correspondent: Accountability time for TransCanada’s bogus job creation claims to investors. The company has repeatedly used a number that would have it magically creating jobs at a rate 67 times greater in the U.S. than it told Canadian regulators it would in that country. Your basic lobbyists’ lie. Some quotes from the Greenpeace material: From the cover note: “It’s wrong for politicians and pundits to use these false numbers, but it’s illegal for TransCanada to lie to investors. The SEC needs to take immediate action to hold TransCanada accountable for misleading investors to boost its valuation,” said Phil Radford, Executive Director of Greenpeace. “TransCanada needs to knock off the propaganda and level with people that they’d create a few temporary jobs just to move dirty oil through our country so it can be shipped to Europe for maximum Big Oil profits.” From complaint: “In the process, it has misled investors, U.S. and Canadian officials, the media, and the public at large in order to bolster its balance sheets and share price. We think these statements violate U.S. securities disclosure laws, notably SEC Rule 10b(5) – Employment of Manipulative and Deceptive Practices. It is incumbent on TRP to immediately and publicly correct this information – or be forced to do so by the Securities and Exchange Commission.” I was told that the SEC has confirmed that it is now actively considering the Greenpeace complaint. Material after the fold. Cover email from Greenpeace: Greenpeace today asked the Securities and Exchange Commission (SEC) to stop TransCanada Corporation from continuing to illegally mislead investors with wildly inflated job creation claims for its Keystone XL tar sands pipeline. SEC rules forbid the use of “manipulative and deceptive practices” to directly affect the value of the company’s stock. TransCanada CEO Russ Girling directly connected the pipeline’s approval with his company’s profits in an April 2011 earnings conference call. Additionally, the company has been using job creation numbers that would have the U.S. pipeline magically creating jobs at a 67 times higher rate for every mile of pipeline built than numbers the company gave to Canadian officials for the miles of pipeline it would build in that country. While President Obama rejected the pipeline permit, he has come under aggressive attacks by pipeline advocates in Congress and the American Petroleum Institute. These attacks consistently feature TransCanada’s false and misleading job creation claims. “It’s wrong for politicians and pundits to use these false numbers, but it’s illegal for TransCanada to lie to investors. The SEC needs to take immediate action to hold TransCanada accountable for misleading investors to boost its valuation,” said Phil Radford, Executive Director of Greenpeace. “TransCanada needs to knock off the propaganda and level with people that they’d create a few temporary jobs just to move dirty oil through our country so it can be shipped to Europe for maximum Big Oil profits.” getenergysmartnow.com