MBA Sells Headquarters at a Huge Loss

The Mortgage Bankers Association (MBA) has suffered the consequences of an inflated mortgage and falling property values. Last week, CoStar Group bought the organization’s D.C. headquarters for $41.3 million, somewhat less than the $79 million the group reportedly paid in 2007.

According to the Wall Street Journal:

The price also is far below the $75 million financing that the MBA received from a group of banks led by PNC Financial Services Group Inc. to finance the purchase.

The Kyoto Protocol and Global Warming

The Kyoto Protocol was set up in a session of the United Nations in Japan in the year 1997. This initiative was set forth to reduce harmful emissions and to lessen global warming. It was adopted and contains goals for emissions that are legally binding for the countries involved.

The aim of the Kyoto Protocol is to prevent countries from causing global warming through human activity. There are some natural forces that contribute to global warming. However, it is the disruption of the climate by humans that is most damaging. This is what is addressed in the Kyoto Protocol.

The developed countries of the world have made commitments to reducing emissions in a timely manner. They have target dates and set levels they are supposed to reach by those times. There are six greenhouse gases that are meant to be reduced by 5% in the next few years. Three of these are carbon dioxide, methane, and nitrous oxide. If these countries are successful, it will reduce global warming.

It is interesting that, while many countries have agreed to reduce emissions, some countries will be allowed to raise emissions. These countries are Norway, Australia, and Iceland. These countries control global warming by keeping their increases to a certain level.

Other countries are asked to simply maintain the levels of emissions they already have. Countries such as Russia, Ukraine, and New Zealand do their part against global warming by maintaining the status quo.

The goals of the Kyoto Protocol to decrease global warming are supposed to be realized between the years 2008-2012. It seems that this will be a near impossibility at this point for many countries. The US especially is turning its back on the provisions of the Kyoto Protocol. The initiative is given lip service by the powers that be, but real progress has been slow coming.

One way developed countries can receive credit under the Kyoto protocol is to help others. If developed countries sponsor emissions reducing programs in developing countries, they receive credit for this. It shows their commitment to the reduction of global warming.

Yet, not all developed countries have adopted the Kyoto Protocol. One glaring example is the US. As of December 2006, the US was one of the 169 governments that had signed the agreement to cut down on global warming. However, it did not ratify the agreement, so the treaty has no power in the US. Another hold-out was Australia.

There were two conditions that needed to be met to put this treaty into full legal force. One was that 55 countries needed to sign up. That condition was met in 2002. In 2005, the other condition was met when 55% of the developed countries had joined the effort to stop global warming.

The Kyoto Protocol was designed to hold developed countries up to a high standard. Developed countries are not only expected to create ways to reduce global warming. They are also rewarded if they help other countries to do the same. When every developed country joins in the struggle to reduce global warming, the earth will reap the benefits.

The IPCC Reports on Global Warming

The Intergovernmental Panel of Climate Change has issued its Fourth Assessment Report in 2007. This report shows the effects and predictions concerning the issues surrounding global warming. Due to the size of the report and the amount of information contained in it, it takes a good deal of study to thoroughly understand the entire document.

However, some points can be made about the IPCC report. Working Group I is a part of the IPCC that reported on its study of the Physical Science Basis of the report. This dealt with the observations of global warming and the current state of how the sciences study global warming.

Attention was given as to how much of the problem was due to human activity and how much to causes in nature. Then, this section of the report makes predictions of how the course of global warming will run in the future.

After being produced by over 600 writers from 40 countries, the report was reviewed by another 620. The resulting findings were that global warming was indeed happening, and that human activity accounted for most of the cause of global warming.

This report notes many climatic changes that are occurring due to global warming. Some of these are changes in the make-up of the atmosphere, warming of the earth, and changes in ice, snow and permafrost. Also included were notes about the different amounts of rainfall and flooding, along with the frequency of drought.

The severity of hurricanes was discussed. It is stated that humans have brought on the global warming that has caused the extreme hurricanes, and that the 21st century will see even more of them. The portion of the study that blamed humans was a result of expert opinions more than a product of research.

Different factors were discussed that could cause global warming or cooling. The current era was defined as starting in 1750. In the current era, the sun has radiated more intense heat, human activities have raised the temperature, and greenhouse gases have increased rapidly.

Different models were given of the course global warming would take in the next century. The models were run using different scenarios. They all turned out somewhat different. However, they all indicated significant global warming.

The rises of temperature and of sea levels were explored fully. All the different models based on different scenarios were run to determine the numbers for these aspects of global warming. The prediction was that these levels would continue to rise for 1000 years, until all the excess greenhouse gases could be removed from the atmosphere.

Working Group II was involved with determining the Impacts, Adaptation, and Vulnerability surrounding global warming. Working Group III had the task of determining what would be the best Mitigation of Climate Change. This part of the report gave recommendations to world leaders on the subject of global warming initiatives.

The IPCC’s report is a lengthy study into the nature of global warming. It covers the past, the current situation, and predictions about the future. Then, it proceeds to discuss ways to curb global warming. It is an important document, and it should be read by anyone interested in global warming.

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