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Category — Koch Industries

Enron Romm: History Should Not Forget

It is a common refrain in headlines at Joe Romm’s Climate Progress:

Smearing and innuendo is hardly fair play. But in this case, Joe Romm has something embarrassing to hide. Just as Koch Industries might be his least favorite company, Enron was his darling company.

Specifically, Romm was not only a cheerleader of Enron (Enron is “a company I greatly respect,” Romm would say). He was also an unpaid consultant and collaborator with the infamously fraudulent division, Enron Energy Services (EES), purveyor of energy efficiency service in (gamed) long-term contracts.

It is timely to reestablish the linkage between Joe Romm and once-mighty Enron Corporation, a company which went bankrupt ten years ago this month. Perhaps this history will help the combustible Romm to deal with the arguments more and funding links less. (Besides, would he like for his critics to bring in the funding link between George Soros and Center for American Progress?)

Some Romm Enron Quotations

“I hope there is something in [my book] Cool Companies Mr. Lay can refer to. I’m sorry Enron isn’t in it, but if you have any good case studies, I would love to use them as I talk to the media and Fortune 500 companies. Feel free to use my personal email.”

- Email communication from Romm to Enron, June 6, 1999. [Read more →]

December 19, 2011   11 Comments

What’s a Business to Do? (In search of heroic capitalism)

[Editor note: This article first appeared in the October 2010 issue of Discovery, the quarterly newsletter of Koch Companies, Inc. This company's values include an adherence to free-market capitalism, in opposition to political capitalism or rent-seeking, currently the fashion at a number of major U.S. corporations. (Also see "The Future of  Economic Freedom"). ]

We live in an era when many people–including policymakers and media celebrities–view businesses and corporations with disdain or intense suspicion. Their way of thinking begs a simple question: What is the primary role of business?

Is it to create jobs and provide benefits?  Help advance a social agenda?  Or just to make as much money as possible, by exploiting customers and employees?

As a matter of principle, Koch companies believe there is only one reason for any business to exist: creating value.

“Value creation,” says Charles Koch, “involves making people’s lives better.

“It means contributing to prosperity in society.  If a company’s not doing that – enhancing the well-being of society – then it needs to go out of business.

“We all tend to pursue our own interests, but in a true market economy we can only prosper long-term by providing others with what they value.”

History and sound theory have both shown that the only way to consistently create value for society is to faithfully follow a set of reality-based principles.

For Koch companies, those are the 10 MBM® Guiding Principles, which include integrity, compliance, value creation, humility and respect. [Read more →]

January 17, 2011   8 Comments

“The Future of Economic Freedom” (A corporate call to principled action)

[Editor note: In a sea of political capitalism and rent-seeking by corporations, it is refreshing to see a principled defense of capitalism from the business sector. This piece from the current issue of Discovery, the quarterly publication of Koch Industries, Inc., is reprinted here in honor of today's important elections.]

On Nov. 2, the United States will hold an important mid-term election.

At stake will be control of the U.S. Congress, 39 state governorships and thousands of other state and local offices.

High unemployment, record deficits, a sluggish economy and a swelling federal government have become flash point issues for millions of concerned Americans of every political persuasion.

For the nearly 50,000 Koch company employees in the United States, this election is an opportunity to help decide the future of economic freedom.

A Heavy Hitter

According to the International Monetary Fund, the United States accounts for about one-fourth of the world’s total output of goods and services, and one-fifth of the world’s purchasing power.

Like it or not, what’s bad for the United States – including misguided federal policies that undermine economic freedom – is usually bad for the rest of the world.

What has proven to be best for all societies is economic freedom.

Citizens on every continent enjoy more prosperity, cleaner environments, longer lives and higher literacy rates in economically free societies.

That’s why, for more than 40 years, Koch Industries has openly and consistently supported the principles of economic freedom and market-based policies.

The Challenge

Unfortunately, these values and principled point of view are now being strongly opposed by many politicians (and their media allies) who favor ever-increasing government.

Government – like fire, water, chemicals and most everything – is productive at some level and destructive at others. [Read more →]

November 2, 2010   5 Comments