Billionaires for Coal visit Lehman Brothers, near Time's Square, Feb. 13
Climate activists inside Credit Suisse
"C-O-A-L: what does that spell? ... MONEY!"
Stanley Morgan security staff member snaps picture of the Billionaires
Billionaires tell visiters in Time's Square global warming is a liberal myth
Billionairs pose in front of Credit Suisse Group
The clicking of high heels on concrete and snobby laughter is not the typical sound of environmentalists visiting New York City’s Financial District.
Clad in full suits, stockings and fake fur, ten activists-turn-wealthy investors in coal energy brought the message of global warming directly to the front doors of major Manhattan banking institutions April 13.
“Coal keeps burning, we keep earning,” chanted the group, Billionaires for Coal, in front of the doors of Goldman Sachs at 85 Broad Street. The bank has hundreds of millions of dollars invested in coal-fired power plants around the nation, including NRG Energy, the second largest generator in Texas, and the proposed Longview coal plant in West Virginia.
Top U.S. climate scientist, NASA’s James Hansen, called for a moratorium on new coal-fired power plants in late February, stressing their large amounts of greenhouse gas emissions that contribute to global warming. Large banking institutions are being challenged for their financial role in the 159 new coal-powered power plants that are currently in the planning works.
The Billionaires for Coal, a movement launched January 2007 with several acting groups in California, Texas, Michigan and the United Kingdom, is the theatrical direct action arm of Rainforest Action Network’s (RAN) campaign against global financial institution giants who are invested in coal-burning power plants. The campaign has singled out Citibank, Morgan Stanley, Merrill Lynch, Lehman Brothers, Credit Suisse Group, Goldman Sachs and JP Morgan Chase & Co. for their investments and advisory roles in the financing of current and proposed coal-burning power plants.
“Our stance is no new coal,” said Rebecca Tarbotton, the director of RAN’s Global Finance Campaign. “Coal-burning power plants are the leading contributor to global warming and are inefficient and outdated.” Tarbotton was in NYC for meetings between RAN and top management of JPMorgan Chase & Co., Morgan Stanley, and Citibank.
“This isn’t a typical campaign. It make’s people smile, but it still gets the point across,” said Jeremy Wells, a long-time climate activist underneath the black suit and blue tie. “I appreciate RAN’s efforts to merge environmental and social issues.”
RAN’s strategy of targeting financial intuitions has proven successful against corporations backing old growth timber sales, the clearing rainforests for cattle grazing and pipelines in Peru in the last several years.
After a subway trip from Wall Street to Midtown – “a horrendous ride with the proletariat” – the Billionaires walked into Credit Suisse Group, 11 Madison Park, and tried to deliver a 12 inch chunk of coal to Oswald J. Grübel, the bank’s chief executive officer. After the front desk staff stressed the group didn’t have an appointment, the Billionaires left feeling offended and headed on to the next bank. Credit Suisse was targeted for their role in a financial syndicate funding MidAmerica’s Energy’s construction of new coal plants, including a $1.4 billion, 790 MW coal plant in Council Bluffs, Iowa.
“We want to thank our friends for financing coal-burning plants,” said Meredith Smith, whose fake diamond crown and sapphire ring shimmered in the morning light. “Dirty energy keeps us filthy rich.”
As part of their costume, the activists wore tall top hats shaped like smokestacks with cotton plumes flying from the top when the wind would blow. The hats, with blue TXU letters on the front, highlighted a partial victory in Texas. RAN’s initiated the “no new coal” campaign September 2006 by targeting banks to stop the Texas power company from constructing eleven new coal plants. In February, a private equity group, led by Kohlberg Kravis Roberts & Co. and Texas Pacific Group, purchased the massive Texas-based utility, agreeing not to not build eight of the proposed coal-fired power plants, not to propose new coal-fired plants outside Texas, and to support mandatory national caps on emissions linked to global warming.
While each financial institution security staff always confront the Billionaires, the nature of the action created a friendlier interaction at many of the banks. Chuck Churchill, a corporate security guard for Morgan Stanley, told The Indypendent that he would likely pass the Billionaires’ message onto the bank’s upper management. He even requested to take a cell phone picture of the well-dressed group in front of the bank’s gold sign outside. The bank is participating in the syndicate assisting Peabody Energy Corp. in a merger with Excel Coal of Australia for $1.8 billion.
The Billionaires concluded their NYC walk at Lehman Brothers near Time’s Square and met by stern police officers and corporate security staff on the sidewalk. The group demanded a meeting with Richard S. Fuld, Jr., the bank’s chairman and chief executive officer. “If we cannot meet with him, we’ll be back again, again and again,” said John Watterberg, going by the name “Haarlam Renquist.” “We might have to go public and tell him [Fuld] how much we appreciate his investment in coal,” Watterberg told security staff with a cigar hanging from his lips.
The action kicked-off the 30 events throughout New York City in conjunction with the more than 1,300 events for the April 14 National Day Against Climate Change, organized by the grassroots group Step It Up!.
NYC Billionaires for Coal Convention January 2007 action at Merril Lynch Headquarters.
YouTube vide:
http://www.youtube.com/watch?v=Z-jxZoSf6p8
Rainforest Action Network: www.ran.org
Step It UP!: www.stepitup2007.org
Clad in full suits, stockings and fake fur, ten activists-turn-wealthy investors in coal energy brought the message of global warming directly to the front doors of major Manhattan banking institutions April 13.
“Coal keeps burning, we keep earning,” chanted the group, Billionaires for Coal, in front of the doors of Goldman Sachs at 85 Broad Street. The bank has hundreds of millions of dollars invested in coal-fired power plants around the nation, including NRG Energy, the second largest generator in Texas, and the proposed Longview coal plant in West Virginia.
Top U.S. climate scientist, NASA’s James Hansen, called for a moratorium on new coal-fired power plants in late February, stressing their large amounts of greenhouse gas emissions that contribute to global warming. Large banking institutions are being challenged for their financial role in the 159 new coal-powered power plants that are currently in the planning works.
The Billionaires for Coal, a movement launched January 2007 with several acting groups in California, Texas, Michigan and the United Kingdom, is the theatrical direct action arm of Rainforest Action Network’s (RAN) campaign against global financial institution giants who are invested in coal-burning power plants. The campaign has singled out Citibank, Morgan Stanley, Merrill Lynch, Lehman Brothers, Credit Suisse Group, Goldman Sachs and JP Morgan Chase & Co. for their investments and advisory roles in the financing of current and proposed coal-burning power plants.
“Our stance is no new coal,” said Rebecca Tarbotton, the director of RAN’s Global Finance Campaign. “Coal-burning power plants are the leading contributor to global warming and are inefficient and outdated.” Tarbotton was in NYC for meetings between RAN and top management of JPMorgan Chase & Co., Morgan Stanley, and Citibank.
“This isn’t a typical campaign. It make’s people smile, but it still gets the point across,” said Jeremy Wells, a long-time climate activist underneath the black suit and blue tie. “I appreciate RAN’s efforts to merge environmental and social issues.”
RAN’s strategy of targeting financial intuitions has proven successful against corporations backing old growth timber sales, the clearing rainforests for cattle grazing and pipelines in Peru in the last several years.
After a subway trip from Wall Street to Midtown – “a horrendous ride with the proletariat” – the Billionaires walked into Credit Suisse Group, 11 Madison Park, and tried to deliver a 12 inch chunk of coal to Oswald J. Grübel, the bank’s chief executive officer. After the front desk staff stressed the group didn’t have an appointment, the Billionaires left feeling offended and headed on to the next bank. Credit Suisse was targeted for their role in a financial syndicate funding MidAmerica’s Energy’s construction of new coal plants, including a $1.4 billion, 790 MW coal plant in Council Bluffs, Iowa.
“We want to thank our friends for financing coal-burning plants,” said Meredith Smith, whose fake diamond crown and sapphire ring shimmered in the morning light. “Dirty energy keeps us filthy rich.”
As part of their costume, the activists wore tall top hats shaped like smokestacks with cotton plumes flying from the top when the wind would blow. The hats, with blue TXU letters on the front, highlighted a partial victory in Texas. RAN’s initiated the “no new coal” campaign September 2006 by targeting banks to stop the Texas power company from constructing eleven new coal plants. In February, a private equity group, led by Kohlberg Kravis Roberts & Co. and Texas Pacific Group, purchased the massive Texas-based utility, agreeing not to not build eight of the proposed coal-fired power plants, not to propose new coal-fired plants outside Texas, and to support mandatory national caps on emissions linked to global warming.
While each financial institution security staff always confront the Billionaires, the nature of the action created a friendlier interaction at many of the banks. Chuck Churchill, a corporate security guard for Morgan Stanley, told The Indypendent that he would likely pass the Billionaires’ message onto the bank’s upper management. He even requested to take a cell phone picture of the well-dressed group in front of the bank’s gold sign outside. The bank is participating in the syndicate assisting Peabody Energy Corp. in a merger with Excel Coal of Australia for $1.8 billion.
The Billionaires concluded their NYC walk at Lehman Brothers near Time’s Square and met by stern police officers and corporate security staff on the sidewalk. The group demanded a meeting with Richard S. Fuld, Jr., the bank’s chairman and chief executive officer. “If we cannot meet with him, we’ll be back again, again and again,” said John Watterberg, going by the name “Haarlam Renquist.” “We might have to go public and tell him [Fuld] how much we appreciate his investment in coal,” Watterberg told security staff with a cigar hanging from his lips.
The action kicked-off the 30 events throughout New York City in conjunction with the more than 1,300 events for the April 14 National Day Against Climate Change, organized by the grassroots group Step It Up!.
NYC Billionaires for Coal Convention January 2007 action at Merril Lynch Headquarters.
YouTube vide:
http://www.youtube.com/watch?v=Z-jxZoSf6p8 Rainforest Action Network: www.ran.org
Step It UP!: www.stepitup2007.org
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