ThinkFast: October 13, 2010

A News Corporation shareholder has written a letter to the company’s board objecting to the company’s political donations, like the recent $1 million contribution to the Republican Governor’s Association, and demanding full disclosure of all the company’s political spending by Friday. The shareholder warned in the letter against the use of “corporate treasury funds to further the personal political agendas of corporate management.”

Oil companies and environmentalists alike continued to lambast the Obama administration following its lifting of its offshore drilling moratorium. “Our companies remain doubtful that this announcement is anything more than symbolic until permits are actually issued for new drilling,” said a statement by the National Ocean Industries Association. Public Citizen called the move “reckless and misguided.”

Investors in some of California’s largest energy companies are beginning to pressure those companies about money being spent to pass Proposition 23, which would effectively stop the state from taking action on global warming. Institutional investor groups will announce three shareholder resolutions today challenging Valero Energy Corp., Tesoro Corp. and Occidental Petroleum Corp., which have spent over $8 million to pass Prop. 23.

An alliance of Republican groups is planning to spend $50 million this week on attack ads “in a final push to help the GOP win a majority in the House.” The Alliance, which includes American Crossroads and Crossroads GPS — groups founded by Karl Rove, will spend more this week than the House GOP election committee is expected to spend for the entire election cycle.

Yesterday, Senate Majority Whip Dick Durbin (D-IL) urged the IRS “to quickly investigate the tax status of Crossroads GPS and other organizations” that are spending millions on campaign ads without disclosing donors. While these groups can keep donors secret as 501(c)(4) organizations, their purpose and primary activities cannot be political and thus, Durbin states, “appear to be in violation of the law.”

Afghan civilian deaths and injuries resulting from NATO-led airstrikes have “dropped dramatically” in recent years, despite and increase in fighting. Airstrikes causes 88 civilian casualties this year, down from 169 in 2008. Officials said “more careful vetting of targets and restrained use of airstrikes have led to the reductions in civilian casualties.”

“A surprise inspection has turned up serious safety violations that could have caused an explosion at another Massey Energy Co. coal mine in West Virginia, the federal Mine Safety and Health Administration” announced this past week. Violations include skipping mandatory tests for explosive gases and digging too deep into a coal seam at Seng Creek Powellton Mine.

And finally: Newt Gingrich is offering an unbeatable deal. For a small $5,000 contribution, Gingrich is willing to deliver you a “prestigious” award. Call now, operators are standing by to take your order!

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