Like the latest runway trend, "green is the new black" according to the media. At least where business is concerned. But it turns out that companies are finding "going green" is an easy way to put themselves in the red.
Back in 2003 FedEx announced it would begin switching to hybrid trucks and won an award from the Environmental Protection Agency, but at $70,000 more per truck the costs got in the way. Four years later, the company has fewer than 100 hybrid trucks, according to the October 29 BusinessWeek.
Other companies like PepsiCo and Caterpillar could face problems with the bottom line because of their support for more government regulation, said Steve Milloy on CNBC's "Street Signs" October 12.