Tag Archives: VOC

Home Depot Dreams California Lawsuits Go Away

By Rich Duprey, The Motley Fool

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If someone is going to claim their products are “free of” a certain chemical, then the Federal Trade Commission requires it actually not have the chemical in the product or at best have just trace amounts of it. It’s a reasonable assumption that goes beyond the boastful claims marketers are allowed to make, such as that their products are “best” or “most loved.”

But if you’re a store owner that simply sells products that claim to be free of those chemicals, how far are you required to go to prove the manufacturer’s claims are true? If you’re in California, apparently pretty far.

The desolation of smog
In yet another instance of why it’s difficult to do business in the state, do-it-yourself superstore Home Depot just reached an $8 million settlement in a lawsuit with California’s South Coast Air Quality Management District, admitting that it knowingly sold paint, wood lacquers, and other coatings containing excessive levels of smog-forming chemicals.

The SCAQMD says paints and coatings are a major source of air pollution, equal to an amount greater than that emitted by 1.5 million cars. Volatile organic compounds, or VOCs, combine in the atmosphere with nitrogen oxides to form ground-level ozone, also known as smog, which can cause a wide range of illnesses.

Something’s in the air
According to its lawsuit, the agency checked the claims made on paints Home Depot sold by reading the labels and then tested the contents. When the retailer was notified of the violations, the stores continued selling the paints and even discounted the cans for a quick sale. Home Depot says it fully cooperated after being advised of the violations.

Whereas similar VOC-related lawsuits in southern California have been also brought against Lowe’s and Wal-Mart totaling more than $3 million, the SCAQMD sought more than $30 million against Home Depot. In the annual report filed just ahead of the holiday weekend, Home Depot said a tentative settlement had been reached for $6.9 million plus $1.1 million in fees and costs.

It’s not the DIY chain’s first run-in with the law in California, though. It paid $10 million to the city of Los Angeles in 2007 for improper handling of hazardous waste.

Tainted paint tint
The FTC itself has pursued VOC complaints against paint manufacturers like Sherwin-Williams and PPG Industries . In those cases, the paint makers’ base paints were VOC-free as claimed, but once retailers tinted the base, it no longer met the definition. Both manufacturers settled with the FTC and were allowed to state that it was their base paints that were VOC-free.

Yet for both Home Depot and the paint makers, the defendants were caught in a hard spot not necessarily of their making. Sherwin-Williams and PPG were correct that their paints were VOC-free, but retailer actions put them out of compliance. In Home Depot‘s case, the retailer was being held liable for trusting the claims of the product makers.

Of course, it could be argued that a base paint isn’t meant to …read more
Source: FULL ARTICLE at DailyFinance

Several PPG Products Receive GREENGUARD Certification

By Business Wirevia The Motley Fool

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Several PPG Products Receive GREENGUARD Certification

Interior Paints Recognized in Programs of Indoor Air Quality and Children & Schools

PITTSBURGH–(BUSINESS WIRE)– Nine products from PPG Architectural Finishes, Inc. recently received GREENGUARD certification, aiming to protect human health through air quality improvements and reduced chemical exposure.

The certification process, supported by The GREENGUARD Environmental Institute, helps manufacturers create interior products and materials that have low chemical emissions, improving the quality of the air in which the products are used. Certifications in several program segments helps buyers identify and trust brands and products to use for important projects.

The following products recently received GREENGUARD certifications for the Indoor Air Quality and Children & Schools programs:

SEAL GRIP® Interior/Exterior Acrylic Universal Primer/Sealer

This product is especially formulated to block most stains – water, smoke, ink, markers, and tannin. It has exceptional adhesion to glossy surfaces and can be used as a whole house primer.

PPG SPEEDHIDE® Interior Enamel Eggshell Latex

This product is an economical solution for both commercial maintenance and new construction. This low-VOC, low-odor paint enables a space to be painted while occupied while delivering the durable product performance required.

PPG SPEEDHIDE® Interior Semi-Gloss Acrylic Latex

This product is an economical solution for both commercial maintenance and new construction. This low-VOC, low odor paint enables a space to be painted while occupied while delivering the durable product performance required.

PITT-GLAZE® WB1 Interior Eggshell Pre-Catalyzed Water-Borne Acrylic Epoxy

This product is a one-component acrylic epoxy eggshell coating for interior use in commercial, institutional and light industrial environments. It is a low-odor replacement for traditional two component acrylic epoxy products providing a recoatable, impact and mildew-resistant coating.

PITT-GLAZE® WB1 Interior Semi-Gloss Pre-Catalyzed Water-Borne Acrylic Epoxy

This product is a one-component acrylic epoxy semi-gloss coating for interior use in commercial, institutional and light industrial environments. It is a low-odor replacement for traditional two component acrylic epoxy …read more
Source: FULL ARTICLE at DailyFinance

The Rise and Fall of the Largest Company of All Time

By Alex Planes, The Motley Fool

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On this day in economic and financial history…

O’er the glad waters of the dark blue sea,
Our thoughts as boundless, and our souls as free,
Far as the breeze can bear, the billows foam,
Survey our empire and behold our home!
These are our realms, no limits to their sway —
Our flag the sceptre all who meet obey.
Ours the wild life in tumult still to range
From toil to rest, and joy in every change.
Lord Byron, The Corsair

In centuries past, those who mastered the sea were often the ones who ruled the world. This was never truer than during the Age of Sail that followed the expeditions of Columbus. For nearly a hundred years, Spain and Portugal fought wars of trade and conquest in the New World and throughout the Orient. Their glory would not last. At the dawn of the 16th century, one company — the first publicly traded company in the history of the world — rose to prominence in Amsterdam. It would eventually become the largest company the world has ever seen.

March 20, 1602 is typically recognized as the founding date of the Dutch East India Company. The company’s origins date to 1595, when the first four merchant ships sailed from Holland (the present-day Netherlands) on a journey of trade and adventure to the East. One vessel was lost, and two-thirds of the crew perished on that fateful trip before their return nearly two and a half years later, but the spirit of commerce had taken root in the remaining traders. It was Johan van Oldenbarnevelt who established the VOC — the Verenigde Oostindische Compagnie, or United East India Company — and acquired a monopoly on trade routes beyond the Cape of Good Hope.

The VOC held the first “public offering” of shares in history shortly after its founding, for much the same reason that companies offer their shares in IPOs today. Within six months, the Amsterdam bourse (stock exchange) was founded to handle trading in the company’s shares. This initial offering raised 6.5 million guilders for the VOC. In 1602, this was an astronomical sum — the equivalent to more than 32,000 years of wages for an unskilled laborer, corresponding to roughly $912 billion today. According to Clem Chambers:

The company’s IPO saw a pop of 15% to its issue price, the first opportunity for investors to snag an IPO in history. It is intriguing to imagine that somewhere in the record there may well be the name of the first stock flipper in history, though it is unlikely that many of the initial shareholders “stagged” the issue, as the actual concept of stock market trading wasn’t yet invented; buying and selling was a manual and laborious affair.

Long-term holders were on to a good investment, too, and 20 years later the …read more
Source: FULL ARTICLE at DailyFinance