California Watch reports that big out-of-state polluters, including Koch Industries, are pouring millions of dollars into the campaign to overturn the state’s climate-change law.
…the Texas-based Tesoro Corporation contributed $1 million on top of the more than $500,000 already donated to the campaign. Additional recent out-of-state donors include Texas-based Valero Energy Corp., Texas-based Frontier Oil Corp., and the Utah-based Western Petroleum Marketers Association…
Of the more than $8.3 million contributed to the “Yes on 23” campaign, less than $1 million has come from within the state.
Good work by California Watch. One thing I’d like to know: How much money comes from outside a district or state in a typical election? How much does this interfere with the rights of people in a jurisdiction to represent themselves?
— The Wall Street Journal’s Mark Gongloff looks at how companies are again gorging on debt. And why not, it’s super cheap—cheaper than at anytime during the bubble:
Allergan Inc. this week borrowed $650 million at 3.375%, the lowest 10-year yield for a large U.S. corporate bond issue since at least 1995.
It’s a good thing for the economy if these guys are refinancing higher-interest debt and freeing up cash. It’s a bad thing for the economic outlook if they’re correctly pricing in the deflationary threat.
— Gizmodo posts new developer guidelines from Apple on how not to get banned from Apple’s App Store, which feeds its iPods, iPhones, and iPads.
Ryan Tate calls them Steve Jobs’ “Ten Commandments”—and points out some ridiculousness, including this:
If your app is rejected, we have a Review Board that you can appeal to. If you run to the press and trash us, it never helps.
Scott Rosenberg pulls this quote from Apple:
We will reject Apps for any content or behavior that we believe is over the line. What line, you ask? Well, as a Supreme Court Justice once said, “I’ll know it when I see it”. And we think that you will also know it when you cross it.
As Rosenberg says:
Trouble is, the App Store is also being framed as the New Newsstand. The idea of Apple as the keeper of such a newsstand never sat right with me: I just don’t like the idea of my information diet being regulated by any company, let alone a company as tightly wound as Apple. Now Apple has made my unease explicit.Ryan Chittum is a former Wall Street Journal reporter, and deputy editor of The Audit, CJR's business section. If you see notable business journalism, give him a heads-up at email@example.com. Follow him on Twitter at @ryanchittum.