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☆ Is Patagonia the end game for profits in a world of climate change?
▼ + stars: | 2022-11-20 | by ( Trevor Laurence Jockims | ) www.cnbc.com time to read: +5 min

As far back as 1985, Patagonia deployed portions of its profits to the environment, via an "Earth tax." "The Patagonia model is a little more sophisticated." It often is very attractive from a corporate tax perspective, too, which has been noted of both the Ikea and Patagonia business models. One hundred percent of Patagonia profits are now committed to its new non-profit Holdfast Collective — which owns all of the company's non-voting stock (98% of the total stock). "What people fail to understand about Patagonia, both the past and the future, is that we are unapologetically a for-profit business, and we are extremely competitive," Ryan Gellert said.

☆ The 10 people transforming sustainability - from Patagonia's founder to the CEO of BlocPower
▼ + stars: | 2022-11-17 | by ( Business Insider | ) www.businessinsider.com time to read: 1 min

Donnel Baird, CEO and Founder, BlocPowerDina Averuk/InsiderSince 2014, Baird's BlocPower — which contracts with local governments, utilities, and building owners to replace fossil fuels in buildings with cleaner alternatives like heat pumps and solar panels — has retrofitted more than 1,200 buildings in New York City and now has citywide electrification projects with Ithaca, New York, and Menlo Park, California. "Greening buildings creates a quadruple bottom line," Baird told Insider. "It creates jobs for local people, saves building owners and residents money on their utility bill, improves health by reducing pollution and reduces emissions. The question was, could you make money while doing it?"

☆ Normcore No More: This Season’s Best Fleeces Will Help You Stand Out
▼ + stars: | 2022-10-27 | by ( Max Berlinger | ) www.wsj.com time to read: +1 min

MARIUS JOHNSON spotted the indigo fleece pullover on the YouTube page of one of his favorite influencers back in February. Finished with crochet detailing, the woolly number was the work of Story mfg, a small British brand known for its crafty aesthetic. Mr. Johnson, 26, an account manager at a creative agency in Boston, was attracted to the obvious care put into the garment, which he subsequently purchased. “You can just tell they’ve mastered their craft, with the stitching, the feel of the pullover and the fit,” he said. “[It] feels very personal.”That particular fleece was inspired by Patagonia’s Snap-T pullover, said Saeed Al-Rubeyi, who founded Story mfg with his wife Katy.

☆ How Gregg Lemkau went from Goldman CEO contender to building a hybrid investment bank catering to billionaires
▼ + stars: | 2022-10-27 | by ( Hayley Cuccinello | ) www.businessinsider.com time to read: +9 min

Gregg Lemkau was in the running for CEO before he left Goldman Sachs in 2020. Now he runs Michael Dell's investment firm, which is merging with billionaire advisory BDT. When Gregg Lemkau left Goldman Sachs in late 2020 to run Michael Dell's investment firm, many within and outside the bank were surprised. Cardinale, who had left Goldman a decade ago to start his own investment firm, knew it had to be a massive opportunity to pull away Lemkau. Oldest sibling Kristin runs JPMorgan's US wealth management business and Lemkau's younger brother Chip is a managing director at Goldman Sachs in private wealth management.

☆ 16 of the biggest controversies in Hobby Lobby's 50-year history — from denying contraceptives for employees to illegally smuggling ancient tablets
▼ + stars: | 2022-10-21 | by ( Bethany Biron | Heather Schlitz | ) www.businessinsider.com time to read: +2 min

We took a closer look at Hobby Lobby's biggest controversies over its nearly 50-year history. The arts-and-crafts store — led by the conservative Christian founder and CEO David Green and his family — has a long history of scandals. Most recently, this included the DOJ confiscating an ancient tablet from Hobby Lobby that had been smuggled into the US. In its most prominent incident, Hobby Lobby faced scrutiny for its battle against paying for insurance coverage of contraceptives for employees, culminating in a high-profile and divisive Supreme Court case. We took a closer look at Hobby Lobby's scandals over the years, including accusations of discrimination, illegally smuggling artifacts, and endangering employees during the coronavirus pandemic.

☆ Strategies to navigate the $68 trillion 'great wealth transfer,' according to top-ranked advisors
▼ + stars: | 2022-10-17 | by ( Jessica Dickler | ) www.cnbc.com time to read: +5 min

At the same time, the greatest generational wealth transfer in history is underway, with baby boomers set to pass to their children more than $68 trillion. Here are four key considerations to help families prepare, according to CNBC's top-ranked financial advisors. Family legacyThe first hurdle is often bringing generations together to discuss their family legacy, advisors say. "Parents have gotten used to managing their wealth over 20, 30 or 40 years; kids have less than a year." "Financial literacy is a huge part of this wealth transfer," Mirsberger also added.

☆ Argentina's replaces three ministers amid economic crisis, puts more women in power
▼ + stars: | 2022-10-10 | by ( ) www.reuters.com time to read: +1 min

BUENOS AIRES, 10 Oct (Reuters) - Argentine President Alberto Fernandez on Monday again reshuffled his Cabinet and appointed three women to lead the labor, social development and women's ministries, as a deep economic crisis has sparked weeks of protests. Ayelen Mazzina, current secretary of Women, Diversity and Equality of San Luis province, will take over as the new minister of Women, Gender and Diversity. She will replace Elizabeth Gomez Alcorta who resigned after opposing the eviction of a group of indigenous Mapuche women from land in the southern Patagonia region. The latest Cabinet changes come less than three months after the government reshuffled the economic ministries, naming Sergio Massa to be Argentina's economy "superminister" in an attempt to contain the worsening economic crisis. Register now for FREE unlimited access to Reuters.com RegisterReporting by Eliana Raszewski; Editing by Marguerita ChoyOur Standards: The Thomson Reuters Trust Principles.

☆ Patagonia's founder just gave the company away — the latest unusual step in a history of corporate innovations, from being an early adopter of paid parental leave to donating $145 million to the envir
▼ + stars: | 2022-09-22 | by ( Grace Dean | ) www.businessinsider.com time to read: +6 min

It gives 1% of sales to environmental causes and was an early adopter of organic cotton and paid parental leave. Staff can take time off to surf and nurse their babiesSince he founded the company, Chouinard has wanted staff to enjoy their jobs. "We encourage our parents to interact with their child by breast-feeding, having lunch together, or visiting at any time," Chouinard wrote. In 1991, Chouinard started leading weeklong seminars where corporate employees would camp out together and learn about Patagonia's business and environmental values. "Our mission statement says nothing about making a profit," Chouinard wrote in his autobiography.

☆ Patagonia's bold move to donate the entire company to fight climate change only works if it stays competitive in business, CEO says
▼ + stars: | 2022-09-21 | by ( Catherine Clifford | In Catclifford | ) www.cnbc.com time to read: +6 min

But that does not mean the company is going to become any less competitive or aggressive in meeting its business objectives. related investing news KeyBanc says buy Diamondback Energy, which can rally 25% as U.S. struggles to meet oil demand "We are extremely competitive. Ryan Gellert, now the CEO of Patagonia, speaking at the Copenhagen Fashion Summit 2019 at DR Koncerthuset on May 16, 2019 in Copenhagen, Denmark. Lars Ronbog | Getty Images Entertainment | Getty ImagesThe conversations that led to the decision started internally a couple of years ago. Gellert pointed out that the Patagonia founding family did pay $17.5 million on the 2 percent of stock that went into the Patagonia Purpose Trust.

☆ Patagonia's founder, who just gave his company to a non-profit, loves saving money. From eating cat food to living in beach shacks, here are some of the wackiest examples.
▼ + stars: | 2022-09-21 | by ( Grace Dean | ) www.businessinsider.com time to read: +4 min

Patagonia founder Yvon Chouinard has had a frugal lifestyle since his early days as a climber and surfer. This includes eating cat food and taking soda bottles from trash cans to redeem for money. Sign up for our newsletter to receive our top stories based on your reading preferences — delivered daily to your inbox. Before founding Patagonia, Chouinard made a living selling climbing equipment from the back of his car. In 1966, Chouinard set up a base for his equipment business, Chouinard Equipment, in a rented tin boiler room of an abandoned packing company slaughterhouse in California.

☆ Watch CNBC's full interview with Patagonia CEO Ryan Gellert
▼ + stars: | 2022-09-21 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with Patagonia CEO Ryan GellertPatagonia CEO Ryan Gellert joins CNBC's 'Squawk Box' to discuss the company's founder Yvon Chouinard's decision to give away the company and use the profits to combat climate change and protect land. Gellert also outlines how the company's fight against climate change helps recruit new customers over other brands. "We take positions with the environment at the center consistently and vocally," Gellert tells CNBC.

☆ Patagonia CEO Ryan Gellert breaks down the founder's decision to give away the company
▼ + stars: | 2022-09-21 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailPatagonia CEO Ryan Gellert breaks down the founder's decision to give away the companyPatagonia CEO Ryan Gellert joins CNBC's 'Squawk Box' to discuss the company's founder Yvon Chouinard's decision to give away the company and use the profits to combat climate change and protect land.

☆ The rise of Patagonia: How rock climber and activist Yvon Chouinard created one of the world's biggest outdoor brands from the trunk of his car
▼ + stars: | 2022-09-17 | by ( Bethany Biron | ) www.businessinsider.com time to read: 1 min

In an unprecedented move, Chouinard announced this week he is giving away Patagonia, with all profits going into a new trust established to fight climate change. "Instead of 'going public,' you could say we're 'going purpose.' Instead of extracting value from nature and transforming it into wealth for investors, we'll use the wealth Patagonia creates to protect the source of all wealth," he wrote in a statement on Wednesday.

☆ Patagonia founder's big donation potentially saves him over $1 billion in taxes — and experts say it shows how the wealthy are able to 'entirely opt out of taxes'
▼ + stars: | 2022-09-16 | by ( Juliana Kaplan | Grace Kay | ) www.businessinsider.com time to read: +9 min

The donations could save the Patagonia founder's family over $1 billion in taxes, experts calculated. "Instead of extracting value from nature and transforming it into wealth for investors, we'll use the wealth Patagonia creates to protect the source of all wealth." It also might give Chouinard and his family a big tax break, experts who monitor such big transactions told Insider. A Patagonia spokesperson told Insider the Chouinard family did not ask to create a company structure to avoid taxes. Russell James, director of graduate studies in personal financial planning at Texas Tech University, said that the ultra-wealthy generally "can't even use charitable income tax deductions."

☆ Patagonia's charitable change will inspire founders. We spoke to 8 VCs about how startups can create their own climate change legacy.
▼ + stars: | 2022-09-16 | by ( Hasan Chowdhury | Tasmin Lockwood | Riddhi Kanetkar | ) www.businessinsider.com time to read: +5 min

Patagonia's Yvon Chouinard said he was giving away his $3 billion company to fight climate change. Insider spoke to 8 VCs about how hard it is for founders to follow suit and what they can do instead. "Instead of 'going public', you could say we're 'going purpose'," Chouinard wrote. Insider spoke to eight investors to find out why venture capital-backed startups would struggle to replicate Patagonia's model and what they could do instead. This means founders need to be active at an early stage in deciding what to do with their business.

☆ Patagonia lobs ESG breakup calls back to the wild
▼ + stars: | 2022-09-16 | by ( Antony Currie | ) www.reuters.com time to read: +4 min

CONTEXT NEWSYvon Chouinard has ceded control of outdoor clothing brand Patagonia, the founder disclosed in a letter on Sept. 14. As a result, all company profit will go to a non-profit entity which will spend it to fight climate change. As part of the deal, Chouinard and his family have transferred all stock with voting rights to the Patagonia Purpose Trust. Overseen by family members and their advisers, according to the New York Times, the trust will be responsible for approving key decisions like choosing the board of directors. Patagonia has annual revenue in excess of $1 billion and profit of some $100 million, the New York Times reported on Sept. 14.

☆ Patagonia's CEO gets candid: How sustainability, diversity, and social justice guide the beloved brand
▼ + stars: | 2022-09-15 | by ( Rebecca Knight | ) www.businessinsider.com time to read: +12 min

As CEO of Patagonia, Ryan Gellert wrestles with a paradox: The outdoor-gear maker's good works, philanthropy, and intentions are still not enough to justify its existence. To Gellert, who took over from the widely respected Rose Marcario, the company could always be doing more. And we need business to step up. Patagonia really struggled in Europe, and that never made sense to me. One of the things that I love more than anything about Patagonia is that we are an unapologetically for-profit business.

☆ Why Patagonia's billionaire founder gave away his $3 billion company to fight climate change: 'Earth is now our only shareholder'
▼ + stars: | 2022-09-15 | by ( Annika Kim Constantino | ) www.cnbc.com time to read: +4 min

The founder of outdoor apparel maker Patagonia is donating his company to a greater cause: fighting climate change. Yvon Chouinard, the rock climber-turned-billionaire, and his family have transferred their ownership of Patagonia to the newly created Patagonia Purpose Trust and nonprofit Holdfast Collective. The company, which Chouinard founded in 1973, is worth $3 billion, according to the New York Times. "The Patagonia Purpose Trust ... exists to create a more permanent legal structure to enshrine Patagonia's purpose and values," the announcement reads. "Despite its immensity, the Earth's resources are not infinite, and it's clear we've exceeded its limits," Chouinard wrote on Wednesday.

☆ Patagonia's owner, who is giving the retailer away to a nonprofit, once lived in his car and still doesn't own a cellphone
▼ + stars: | 2022-09-15 | by ( Grace Dean | ) www.businessinsider.com time to read: +3 min

Patagonia's owner doesn't own a cellphone or computer, The New York Times reported. Yvon Chouinard lived out of his car and ate cat food as a professional rock climber in the 1960s. The 83-year-old is giving away Patagonia, worth about $3 billion, to a trust and nonprofit. He used to live out of his car and eat damaged cans of cat food that cost $0.05 each, the newspaper reported. Patagonia has annual sales of more than $1 billion, with profits of about $100 million, The Times reported.

☆ Patagonia founder gives away company, ensuring profits go to fight climate change
▼ + stars: | 2022-09-14 | by ( Evan Bush | Evan Bush Is A Science Reporter For Nbc News. He Can Be Reached At Evan.Bush Nbcuni.Com. | ) www.nbcnews.com time to read: +3 min

The founder of the outdoor brand Patagonia has relinquished his ownership in the business and directed its profits to fight climate change. "Instead of extracting value from nature and transforming it into wealth, we are using the wealth Patagonia creates to protect the source. The company expects to contribute roughly $100 million to the Holdfast Collective through an annual dividend depending on the businesses' success. The Patagonia brand, Hayes noted, charges a premium, in part, because of the values it represents. Hayes said businesses in manufacturing or extractive industries in a capitalist economy that requires growth ultimately run into conflicts with environmental and climate values.

☆ Lor Sabourin: How feeling 'vulnerable' helped climber explore their identity
▼ + stars: | 2021-11-12 | by ( Ben Church Cnn Video Finn Mcskimming | Ben Church | ) edition.cnn.com time to read: +7 min

CNN —The feeling of total vulnerability is something that would prevent most from trying rock climbing, but for Lor Sabourin, it’s what they love most about the sport. When you go out, you’re really choosing to be vulnerable,” Sabourin tells CNN Sport. It provided Sabourin with a chance to speak about their journey and address what it means for them to be a trans climber in 2021. There are also times in normal life where Sabourin feels less safe than their non-trans friends. “I guess that’s really challenging, especially having a background of experiencing pretty extreme violence at a young age for my identity,” they said.

☆ All the best products we’ve tested in 2021 (so far)
▼ + stars: | 2021-11-03 | by ( Cnn Underscored Staff | ) edition.cnn.com time to read: +62 min

Best coffee subscription: Blue Bottle (starting at $11 per shipment; bluebottle.com)Blue BottleBlue Bottle’s coffee subscription hit all of our marks during the testing process. This mask, though, formed the best seal around the edges, blocking out more light than any other mask we tested. Not only does it keep your drinks hot or cold for many hours, it’s solidly durable and has the best lid we’ve ever tested. Best smart display: Amazon Echo Show 8 ($99.99, originally $129.99; amazon.com)AmazonThe Echo Show 8 is the best smart display we tested, with a versatile 8-inch screen in a build that really fits anywhere. Best smart thermostat: Nest Learning Thermostat ($223, originally $229; amazon.com)GoogleThe Nest Learning Thermostat studies your habits and controls the temperature in your home automatically.

☆ Goop's executive exodus — Patagonia's CEO gets candid — LA's prestigious preschools
▼ + stars: | 2021-10-01 | by ( Jordan Parker Erb | ) www.businessinsider.com time to read: +4 min

Another week has come and gone, and you know what that means — it's time for your weekly dose of Insider Life. This week, we're bringing you an inside look at the executive exodus at Gwyneth Paltrow's Goop, sharing an exclusive interview with Patagonia's CEO, and telling you how to get your kid into one of LA's most prestigious preschools. Oh, before we get started, be sure to check out the Insider Crossword — we're publishing new puzzles every morning through October 8. Tadini took us along for a day on the job, starting with a 6 a.m. espresso and cigarette. PatagoniaRyan Gellert, Patagonia's new CEO, is struggling with a paradox: the company's good works, philanthropy, and intentions are still not enough to justify its existence.

☆ O specie de dinozaur descoperită în 2006 ar fi cea mai mare găsită vreodată în Australia
▼ + stars: | 2021-06-08 | by ( Publika.Md - Aici Sunt Știrile | ) www.publika.md time to read: +2 min

Cercetătorii australieni au clasificat o specie de dinozaur descoperită în 2006 drept cea mai mare găsită vreodată pe continent. Rămăşiţe ale unor specimene din acest grup de dinozauri erbivori cu gâtul lung au fost descoperite pe toate continentele, informează AFP, citează digi24.ro. Această descoperire a fost iniţial ţinută secretă, cât timp cercetătorii au excavat cu răbdare situl. Scheletul a fost expus pentru prima dată publicului în 2007. Cel mai mare dinozaur cunoscut până în prezent este Patagotitan mayorum, supranumit "Titanul din Patagonia", descoperit în Argentina şi descris de cercetători în 2017.

Persons: ., Robyn, Mackenzie, Scott Hocknull, Cooper, Paleontologii Organizations: Robyn Mackenzie Locations: Queensland, Brisbane, Patagonia, Argentina

Oamenii de știință au găsit în Chile fosile ale unei noi specii de mamifer care a trăit în urmă cu 72 de milioane de aniFosile ale unei noi specii de mamifer din Cretacicul Superior, cu o vârstă cuprinsă între 72 de milioane şi 74 de milioane de ani, au fost descoperite în Patagonia de pe teritoriul statului Chile, a anunţat miercuri Institutul Chilian Antarctic (INACH). Descoperirea a fost realizată pe teritoriul unui sit considerat unul dintre cele mai mari rezervoare de fosile de dinozaur din regiune. Noua specie, denumită Orretherium tzen, a fost descoperită în Cerro Guido, din regiunea Magallanes, situată la circa 2.700 de kilometri sud de Santiago de Chile, unde cercetătorii au găsit resturi dintr-o mandibulă cu cinci dinţi consecutivi, notează AFP, citată de digi24.ro. Potrivit cercetătorilor, zona a fost locuită de specii preistorice din America şi Antarctica, care au migrat în urmă cu milioane de ani traversând fâşii de pământ aflate sub ape şi care au ieşit la suprafaţă după scăderea temperaturilor. Specimenul era înrudit cu alte mamifere descoperite în Patagonia de pe teritoriul Argentinei.

Persons: Agustin Martinelli, Alexander Vargas Locations: Chile, Patagonia, Cerro Guido, Magallanes, Santiago, America, Antarctica, Argentinei, Argentina, Gondwana

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