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Roche recently bought Genentech (DNA), a company in which it was already the largest shareholder. That deal was not just about firing. Biotech operations like Genentech are the next generation of pharma companies. Roche wants in on that action. It had the tremendous advantage of only having to buy part of the shares in Genentech. Aside from getting customers and new products, Roche got control of the whole company and merely had to acquire 44% of the shares...
...Obama has had an easier time hiring and confirming staff on the environmental front than on the economy or health-care fronts. For example, Obama's special adviser for green jobs, Van Jones, started work at the White House's Council for Environmental Quality on Monday. "There is more action and emphasis than we've ever seen before," says Phyllis Cuttino, director of the Pew Environment Group's Domestic Climate Campaign. "We've seen more commitment from this Congress than we have ever before on global warming...
Just in case, the Obama Administration has taken a separate approach that would allow the Environmental Protection Agency (EPA) to move unilaterally on regulating greenhouse gases, without the need for congressional action. That process, however, is long and subject to court challenge without a legislative mandate. "It appears that the Administration is letting Congress take the lead while the EPA moves forward with welcome steps to combat global warming, like the proposed rules this week to create a registry for carbon-dioxide emissions," says John Walke, clear-air director of the Natural Resources Defense Council (NRDC). "The EPA has been...
...unilateral Executive Branch action, while mandated by a Supreme Court decision in April 2007 that said the EPA must decide how to regulate greenhouse gases, upsets many members on Capitol Hill. The EPA "said they have the ability to do this under the law. The law doesn't come from the Supreme Court; the law comes from Congress," Nelson said. "If they want to go, 'Giddyap,' we're in the position to go, 'Whoa,' and pass legislation if necessary. If the administrator wants to ignore the intent of Congress, the administrator takes a sizable risk...
Still, as Democrats weigh another bank bailout and a potential second stimulus bill, the global-warming legislation may get knocked another rung down the ladder - a terrible waste of a rare opportunity for dramatic action, in the eyes of U.S. environmentalists still smarting from the Bush Administration's pullout from the Kyoto Protocol. "Right now we have a degree of flexibility [regarding] what we need to do and what other countries are willing to do," says David Doniger, policy director at the NRDC's Climate Center. "That tremendous opportunity may be lost at this moment if this drags...