I missed this Matt Haggman article in the Miami Herald Business Section because of the bad choice of headline (Yawn). But it is worth a look: Many S. Florida firms have 'wait-and-see' attitude.Haggman reported about Lennar Homebuilders:
"The pitch to the leading Miami homebuilder was that investors want broader criteria beyond financial performance -- such as environmental, social and governance issues. Particularly, said fund spokeswoman Vidette Mixon, ``global warming and the reduction of greenhouse gas emissions.''
"Lennar swiftly rejected the idea. The board of directors wrote to shareholders that spending time and money to monitor environmental and social issues would bring ''no discernable corresponding benefit to Lennar'' and has ``little to do with the business of running a profitable company.''
How about the greater good Lennar? Haggman writes that Office Depot and FPL have sustainability policies. Lennar, your letter to shareholders brings to mind Gordon Gekko's speech in the movie "Wall Street":
"The point is, ladies and gentleman, that greed -- for lack of a better word -- is good.
Greed is right.
Greed works."
Ick to both Gekko and Lennar.
4 comments:
Duh, Environmental issues effect housing. Remember Katrina, Andrew, Wilma. Lennar should be more proactive.
I wonder what those living in Country Walk when Hurricane Andrew blew through would think of Lennar's attitude? Plus ça change, plus c'est la même chose.
Ahhh... but Amando Codina is soo very different. He cares about the environment, the Everglades, the UDB, corruption etc Unless it is in the way of him making some money then.... its a special case. A one time thing, an very small exception, unlike Lennar and Sergio Pino who are much rough.
Environmental conscious companies are really the new wave. Nowadays investors want company growth and focus in not just profit but other areas such as social and environmental impact.
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