Should Home Depot stop advertising on Fox?

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Environmental groups are pressuring The Home Depot, Inc. (NYSE: HD) to withdraw its ads from the Fox News Channel because many of the network's commentators poopoo global warming as some wacko theory.

Now, let's be clear. I don't watch Fox News, and I would probably kick my goldfish out of my house if I caught her watching it. As this YouTube video shows, many Fox commentators are hopelessly out of touch with the growing scientific consensus when it comes to global warming. Even Rupert Murdoch realizes global warming is real and has pledged to work to make News Corporation (NYSE: NWS) more efficient.

But I still don't understand why Home Depot would or should withdraw its ads from the network. As the New York Times said, "Home Depot is unswayed, and the environmentalists appear to be doing something they generally discourage: wasting energy."

Home Depot should absolutely continue the substantive green issues it has embarked on, but there's no need to give into a campaign to get its ads off of Fox. Doing so would hurt the company's sales, and that's bad for shareholders. Home Depot should use Fox to promote its environmentally-friendly message.

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Last updated: February 10, 2010: 02:40 AM

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