posted September 22, 2006 12:18 AM            

Branson, the billionaire behind the multi-platform Virgin brand, said the money would come from 100 percent of the profits generated by his transportation and airline sectors. It will then be invested in efforts to find renewable, sustainable energy sources in an effort to wean the world off of oil and coal.

Branson made the announcement on the second day of the Clinton Global Initiative, a conference of business, political and nonprofit leaders hosted by former President Clinton that debuted last year.

"Our generation has inherited an incredibly beautiful world from our parents and they from their parents," Branson said at a news conference with Clinton at his side. "We must not be the generation responsible for irreversibly damaging the environment."

Clinton praised Branson as one of the most "creative" and "committed" people he had ever known.

The commitment ensures that the conference, which brings people together to brainstorm on solutions to global issues, would more than meet its goal of matching last year's pledges of more than $2 billion.

Branson, 56, started Virgin as a music retailing company, then expanded into fields including Virgin Airlines in 1984 and now has dealings in train travel, wireless communications — even space flight.

Branson, knighted by the Queen of England in 1999, is also known for extracurricular activities included sailing and hot-air ballooning.

The initiative began Wednesday with a slew of world figures, from first lady Laura Bush to Pakistan President Pervez Musharraf.

The Thursday session featured Afghan President Hamid Karzai and Queen Rania al-Abdullah of Jordan.

The annual gathering brings together government, business and nonprofit sectors to spur action on poverty, health care, global warming and religious/ethnic conflict.

Sen. Hillary Rodham Clinton of New York was to attend, as was former Vice President Al Gore. Other speakers expected included former President Carter and champion cyclist Lance Armstrong.

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On the Net:

Clinton Global Initiative: http://www.clintonglobalinitiative.org

posted September 22, 2006 05:11 PM            

Let's dissect this paragraph

"Branson, the billionaire behind the multi-platform Virgin brand, said the money would come from 100 percent of the profits generated by his transportation and airline sectors. It will then be invested in efforts to find renewable, sustainable energy sources in an effort to wean the world off of oil and coal."

_____________________

100% of the profits doesn't mean what it says per se. Profits entail what is left after all the bills are paid; salaries, overhead, incidentals, insurance, retiremen and future operating / advertising costs.

It will then be reinvested... into what company or research? Will it be headed by a newly formed Branson company?

Meanwhile, his jetsetting butt is going around the world generating more pollutants into the air. Celebrities notorious for charting planes to fly from NYC to Italy for dinner (along with the multi-billionaires on the new Forbes list) yet they have the nerve to complain about the hairspray bottle in the hands of a mere mortal.

Branson is estimating about 3 Billion over 10 years...

I commend what he is doing - yet it seems like he was more interested in generating fanfare than the fixing a problem.

posted September 23, 2006 02:47 AM              

[url]http://today.reuters.com/news/articlenews.aspx?type=domesticNews&storyID=2006-09-22T195253Z_01_N22201015_RTRUKOC_0_US-UN-SUMMIT-CLINTON.xml&pageNumber=0&imageid=&cap=&sz=13&WT ModLoc=NewsArt-C1-ArticlePage2[/url]

Besides Clinton and Branson, Murdoch, opportunity international, De Beers, Merck, Bill gates and warren buffet, and nelson mandela are also mentioned as helping out, not to mention 50 heads of state (former and current).

posted September 23, 2006 02:52 AM              

[url]http://today.reuters.com/news/articlenews.aspx?type=domesticNews&storyID=2006-09-22T195253Z_01_N22201015_RTRUKOC_0_US-UN-SUMMIT-CLINTON.xml&src=092206_1639_ARTICLE_PROMO_also_ on_reuters[/url]