In the news today: Loblaw Cos. Ltd. (TSX: L.TO) power to a 73 per cent profit increase in the first three months of 2009.
Canada's largest supermarket operator said Tuesday its net earnings climbed to $109 million for the quarter ended March 28, up from a year-earlier profit of $63 million.
Its share price gained more than eight per cent on the news.
Well there you go. It's great news to learn that a large company is able to post profits in this time of financial difficulties. However, it's worrisome that these profits can be attributed to non-ethical and grossly irresponsible tactical moves.
This is the tip of the iceberg. More and more companies are gonna sweep under the carpet most of their socially responsible investments and green projects will be put on the backburner. It's no time to invest in a career in sustainable business solutions. It's time to study business processes and optimization models.
Sad.
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