US under pressure at climate conference, as US Senate pushes for pollution cuts Eds: UPDATES with U.S., U.N. reaction to Senate action, Australian leader denying full endorsement of specific targets; minor edits. AP Photo XDA104, EKW101, EKW103 By JOSEPH COLEMAN

Associated Press Writer

BALI, Indonesia (AP) - American climate negotiators refused to back down in their opposition to mandatory cuts in greenhouse gas emissions Thursday, even as a U.S. Senate panel endorsed sharp reductions in pollution blamed for global warming.

The United States, the worlds largest producer of such gases, has resisted calls for strict limits on emissions at the U.N. climate conference, which is aimed at launching negotiations for an agreement to follow the Kyoto Protocol when it expires in 2012.

That stance suffered a blow when the Senate Environment and Public Works Committee passed a bill Wednesday to cut U.S. emissions by 70 percent by 2050 from electric power plants, manufacturing and transportation. The bill now goes to the full Senate.

U.S. climate negotiator Harlan Watson, however, said that would not impact Washingtons position at the international gathering in Bali.

“In our process, a vote for movement of a bill out of committee does not ensure its ultimate passage,” he told reporters. “I dont know the details, but we will not alter our posture here.”

Washingtons isolation in Bali has increased following Australias announcement Monday that it has reversed its opposition to the Kyoto pact and started the ratification process - winning applause at the conferences opening session. That left the U.S. as the only industrialized nation to oppose the agreement.

On Thursday, the Australian delegation said Canberra supported a U.N. document that mentioned cutting greenhouse gas emissions by between 25 percent and 40 percent below 1990 levels by 2020. The government has already proposed 60 percent cuts by 2050.

However, Australian Prime Minister Kevin Rudd refused on Thursday to commit to the 2020 figures, saying it was premature to set firm targets before he receives a comprehensive report he has commissioned on the issue, due next year.

The U.S. Senate action cheered environmentalists and others in Bali clamoring for dramatic action to stop global warming. U.N. climate chief Yvo de Boer led off his daily briefing Thursday by hailing the “encouraging sign” from the United States.

“This is a very welcome development,” Alden Meyer of the Union of Concerned Scientists said of the Senate measure. “It shows the increasing isolation of the Bush administration in terms of U.S. policy on this issue.”

David Waskow, of the Oxfam humanitarian agency, said the Senate legislation was a positive signal to developing nations and others in Bali that America may be ready to assume a more active role in battling climate change.

“Its one of the things that point the way to having the United States re-engage in the negotiations, and really I think in many ways demonstrates the U.S. leadership on these issues,” Waskow said.

Further momentum for serious greenhouse gas cuts, which experts say are needed to stave off the most destructive effects of rising temperatures, came from a petition released Thursday by a group of at least 215 climate scientists who urged the world to reduce emissions by half by 2050.

“We have to start reducing greenhouse gas emissions as soon as we possibly can,” said Australian climatologist Matthew England, a group spokesman. “It needs action. Were talking about now.”

The United States and ally Japan are proposing that the post-Kyoto agreement favor voluntary emission targets, arguing that mandatory cuts would threaten economic growth which generates money needed to fund technology to effectively fight global warming.

Failure to reach a new international consensus on curbing emissions, experts warn, will raise the threat of catastrophic droughts and floods, increased heat waves and disease, and sea level rises caused by melting polar ice.

U.S. Undersecretary of State Nicholas Burns denied that Australias acceptance of the Kyoto accord would prompt Washington to do the same.

“We do not see eye-to-eye with Australia or many other countries on the wisdom of signing the Kyoto regime, thats obvious,” Burns said in Sydney, Australia.

Starbucks («www.businessweek.com») posts fourth quarter EPS of $0.21, vs. $0.15 a year ago, on 4% higher same-store sales, 22% higher total sales. It sees fiscal year 2008 same-store sales rise of 3%-5%, total revenue growth 17%-18%, EPS of $1.02-$1.05. It sees first quarter EPS of $0.28; impacted by ongoing dairy cost pressure coupled with expectations of continued softness in the U.S. consumer and economic environment compared to the first quarter of fiscal year 2007.

Fannie Mae («www.businessweek.com») shares lost nearly 10% Friday after Fortune magazine’s Web site raised concerns about how the company had changed how it reports bad loans. In a conference call with analysts Friday, the company said portions of the $670 million of credit-loss provisions that the company charged off in the third quarter would likely be recovered.

FedEx («www.businessweek.com») lowered its earnings outlook for the fiscal second quarter and full year, citing soaring fuel costs and a troubled U.S. freight market. For the second quarter ending Nov. 30, the company sees EPS of $1.45 to $1.55, vs. previous forecast of $1.60 to $1.75. For the fiscal year ending in May, it sees EPS of $6.40 to $6.70, vs. prior range of $6.70 to $7.10 per share. Analysts had expected EPS of $1.71 for the quarter and $6.87 for the year.

Kohl’s («www.businessweek.com») posts $0.61 third quarter EPS, vs. $0.68 a year ago, on 2.6% lower same-store sales, 4.8% total sales rise. Assuming fourth quarter same-store sales are flat to down 2%, KSS says it would expect EPS of $1.45-$1.51, resulting in fiscal year 2008 EPS of $3.52-$3.58, down from previous guidance of $3.77-$3.87.

AnnTaylor Stores («www.businessweek.com») posts $0.66 third quarter EPS, vs. $0.54 a year ago, on 0.4% same-store sales drop, 6.1% total sales rise. Due to the significant softness experienced in the month of October and ongoing macroeconomic uncertainty, the retailer reduces $2.15-$2.25 fiscal year 2008 EPS forecast to $2.05-$2.15.

Garmin Ltd. («www.businessweek.com») says it has signed six-year extension to its deal with NAVTEQ, allowing GRMN to continue using NAVTEQ data through 2015, with an option to renew for an additional four-year period. GRMN says that, in light of these developments, it does not intend to pursue its offer for Tele Atlas N.V. S&P maintains buy.

Autodesk («www.businessweek.com») posts $0.49 third quarter EPS (non GAAP), vs. $0.35 a year ago, on 18% revenue rise. It sees fourth quarter revenue of $575-$585 million, non-GAAP EPS of $0.52-$0.54. It expects fiscal yeara 2009 revenue growth of 13%-15%. S&P maintains hold. Needham downgrades to buy from strong buy.

Cisco Systems («www.businessweek.com») sets up to $10 billion in additional stock repurchases, increasing total authorized amount under the program to $62 billion.

Nike («www.businessweek.com») raises quarterly dividend by 24%, to $0.24 from $0.185.

Intuit («www.businessweek.com») posts $0.14 first quarter loss per share from continuing operations, vs. $0.17 loss a year ago, on 27% revenue rise. It reaffirms outlook. S&P maintains hold.

The9 Limited («www.businessweek.com») posts RMB 1.29 vs. RMB 2.61 third quarter EPS despite 35% revenue rise. Notes third quarter operating margin decreased from 27% last year to 14% this year, more shares outstanding this year. S&P cuts estimates, target, but keeps buy.

American Railcar Industries («www.businessweek.com») says, according to regulatory documents filed Thursday, Carl Icahn reportedly raised his stake in ARII to over 29%.

Agilent Technologies («www.businessweek.com») posts $0.53, vs. $0.45 a year ago, fourth quarter adjusted EPS on 9% revenue rise. It sets $2 billion stock buyback. It says it comfortable with range of analyst estimates for fiscal year 2008 revenues and adjusted net income. It sees fourth quarter revenue of $1.35-$1.40 billion, up 5%-9% from last year. S&P keeps hold.

Energizer Holdings («www.businessweek.com») raises its reported fourth quarter EPS to $1.19 from the $1.03 it previously reported in order to reflect an omitted income tax benefit.

Jack in the Box («www.businessweek.com») posts better-than-expected $0.43, vs. $0.46 a year ago, (including benefit) fourth quarter EPS despite 5.5% same-store sales rise at Jack in the Box company restaurants, 5.8% SSS at Qdoba Mexican Grill restaurants. For fiscal year 2008, sees 2%-4% SSS growth at Jack in the Box restaurants, 4%-6% SSS growth at Qdoba, EPS of $1.98-$2.06. It sets new $200 million stock buyback program.

Steak N Shake («www.businessweek.com») posts $0.05, vs. $0.27 a year ago, fourth quarter EPS on 3.9% lower same-store sales, slightly lower total sales. It sees $0.32-$0.42 fiscal year 2008 EPS on 1%-5% decline in same-store sales.

Being away from family is an everyday occupational hazard for business travelers, but trips that mean missing a holiday at home Д by design or by delay Д are all the more vexing.

The Rev. Michael Zaniolo, chaplain at the interfaith chapel at OHare International Airport in Chicago, has seen business travelers scrambling to be home when candles were lighted and presents unwrapped.

“I remember one traveler who was trying to get back to the Northeast on Christmas Eve and had been bumped from a flight,” he said. “His family was getting together and celebrating Christmas Eve with a big dinner followed by midnight Mass, and he was kind of distraught.”

While professionals of Christian faiths seldom have to worry about business travel on Christmas, those of the Jewish, Muslim and Hindu faiths regularly have to balance their religion and their jobs.

For example, Nouha Khalil, a marketing manager for a marketing technology company and an observant Muslim, had to attend back-to-back trade shows during Ramadan, a month marked by fasting during the daylight hours.

“It was such a strain,” she said. “Were on our feet running around all day and then we have to schmooze and stay up late with clients. The second day I could barely stand up.”

Khalil is far from the only business traveler forced to perform this balancing act.

“You tend to have problems with international trips because it can sometimes take a day or more to travel,” said Dov Isaacs, a principal scientist at Adobe Systems and an observant Jew. Isaacs ran into a scheduling conflict in September when he had to attend a meeting in Tokyo right after Yom Kippur, a holiday on which he does not travel.

Although the meeting began on a Monday, losing a day over the International Date Line meant he would have had to leave on the preceding Saturday, Yom Kippur.

“I had to get them to make sure that the portion of the meeting I chaired was moved to Tuesday, since I couldnt get there until the end of the day on Monday,” he said.

Joan Eisenstodt, a meeting and training facilitator and practicing Jew, says she frequently has to contend with clients who are unaware of the dietary and travel restrictions observed during Jewish holidays. “On the first two days of Rosh Hashanah, even people who arent terribly religious wont work and wont travel. Ive had clients say, After you finish services, cant you just get on a plane? They arent even aware that its significant,” she said.

Swaminathan Venkataraman, a director at Standard Poors and a practicing Hindu, also faced a scheduling conflict when he was suddenly drafted to cover for a colleague at an industry conference over Avani Avittam, a day observed by five to six hours of meditation.

“I got up extra early and managed to do the basic rituals early in the morning. I left the conference after lunch and meditated until evening, and I decided to stay an extra night at the hotel and spend it meditating,” he said. As his company had already booked the hotel room for that night, he did not incur any out-of-pocket costs by staying.

Meals present another minefield for business travelers observing a religious fast or period of dietary restriction. “Many industry events Ive been to happen to fall during Ramadan, and a lot of them have a lunch or a dinner or a coffee break,” said Hala Durrah, a practicing Muslim who is often on the road as the owner of an event planner. “Youre fasting all day, youre supposed to be networking and it feels very awkward.”

Aside from spending valuable networking minutes explaining a bare plate to colleagues, frequent travelers like Eisenstodt worry that their decisions not to attend business functions that conflict with their religious obligations could hurt them in the corporate arena.

“Its really unfair. I feel left out,” she said of having to arrive at events late, leave early or even skip them entirely. Eisenstodt expressed concern that she has missed out on valuable educational and networking opportunities.

Confronting the organizations that plan these events often brings little satisfaction, however. Eisenstodt says she often hears from event organizers that the only dates open at meeting sites are over non-Christian religious holidays.

While popular convention cities like Las Vegas and Orlando have events scheduled well over a decade into the future, business travelers who feel that they are forced to choose between work and worship say that corporate America needs to do a better job addressing the religious diversity in its ranks.