On the December 21 edition of Fox News' Your World with Neil Cavuto, an on-screen graphic read: " 'Global Warming': Great for Business & Economy?" during guest host David Asman's interview with Michael Farr, president of the investment firm Farr, Miller & Washington, about the positive effects of mild winters on the economy. When Asman said that “my next guest says if what's happening in New York is global warming, he's all for it,” Farr responded, “Well, now, hang on, David. First of all, global warming is a very serious issue, and it could have devastating effects. That we are having a milder winter is a really good thing for the economy, and milder winters are always pretty good.” Farr later added, “Global warming is not a good thing. Global warming is a tremendously bad thing.”

Farr's denial that he was claiming that global warming is “great for the economy” was first noted by the weblog News Hounds.

From the December 21 edition of Fox News' Your World with Neil Cavuto:

ASMAN: A blizzard in Colorado, more than a thousand flights canceled, Denver at a virtual standstill, about two feet of snow, and then there is the Northeast. Unseasonably warm temperatures. A lot of us are glad about. Streets crowded with shoppers. Cafes still offering outdoor seating, if you can believe it. Well, my next guest says if what's happening in New York is global warming, he's all for it. It's great for the economy. Michael Farr, president of the investment firm Farr, Miller & Washington. Well, Mr. Farr, so if global warming is real, how is it a good thing for our economy?

FARR: Well, now, hang on, David. First of all, global warming is a very serious issue, and it could have devastating effects. That we are having a milder winter is a really good thing for the economy, and milder winters are always pretty good. Fuel-oil and heating costs don't go up as much. Shoppers are out on the streets; they're spending more money. Merchants have more money, manufacturers have lower manufacturing and transport cost -- that's good.

ASMAN: OK, so you're kind of putting a brake on the notion that global warming is a good thing.

FARR: Yeah. No, no, no. Global warming is not a good thing. Global warming is a tremendously bad thing. You read both sides of it, and I'm not exactly sure exactly where we are in the global-warming process, I know it's --

ASMAN: Well, you have these -- the thing is, you have these extremes. You have some folks saying that there's absolutely zero problem, other folks like [former Vice President] Al Gore saying that, you know, Florida is gonna be engulfed in water next year. So, somewhere in there, if you look at the mild winter we're having, that might not be a bad thing.

FARR: The mild winter that we're having is certainly not a bad thing for business. No question about it. People are shopping more, they're spending more money at retailers, and we're going to see profits rise, particularly I think, for those retailers, I hope, coming into the first -- as their fourth quarter ends. We'll see those numbers in January. There have been a lot of discounting, though. But volumes are up, and that's really a good thing. So a mild winter is really good. When that mild weather comes during the holiday shopping season, that's even more better. So that's good. But no, global warming is a very serious issue. We got problems here.

ASMAN: And that just leads me to wonder, what happens if these mild winters are here to stay, and maybe the water begins to rise, et cetera?

FARR: You know, I'm not a scientist, but the facts are --

ASMAN: Well, you're willing to admit it. A lot of people who talk about global warming aren't willing to admit that.