Monday, May 17, 2010

Alcoa (NYSE:AA) Spent Over Half Million on Lobbying Efforts in First Quarter

Alcoa (NYSE:AA) spent close to $560,000 in lobbying the various government agencies in the first quarter, about $80,000 more than they spend in the first quarter of 2009, said the company in a regulatory filing.

Some of the issues of concern lobbied by Alcoa include the misguided climate change bill, which the data concerning climate change has been proved to be bogus, and nothing related to man causing the alleged changes being part of the equation, along with cap-and-trade legislation, and even defense spending.

Alcoa also had interests in the availability of power from certain sources, as well as hydroelectric generating facilities.

The company has been struggling as aluminum prices have fallen on slowing demand, and struggle in Europe and China have raised more issues about the uncertainty of how demand will increase of decrease in response to those circumstances involving sovereign debt and inflation.

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