What happens to all those logo-festooned tote bags, pens and other pieces of corporate schwag that get handed out ad-nauseam on the convention circuit? Sure, some of it eventually goes on to serve some useful purpose. But much of it goes straight into the bin.

Enter the Schwaggin’ Wagon. Born just ten days ago over lunch in LA, the Schwaggin’ Wagon has cut a high profile at this year’s Web 2.0 expo.

“I was having lunch at a Thai restaurant and I brought up the fact that there is a lot of waste in this schwag game,” says Michael Liskin, an LA-based social media consultant who is one of the group’s six founders.

Schwaggin’ Wagon’s mission is to raise awareness about wasteful schwag practices and, eventually, to find a better use for the mountains of conference bric-a-brac that would otherwise end up in landfills.

In just ten days, the Schwaggin’ Wagon crew has built a website, procured a van, and attracted more than 150 followers on Facebook. They plan to collect schwag from conference-goers and donate it to Innerkids, an LA non-profit that hosts after-school programmes local youth. 

Eventually, the group hopes to act as a bridge between conference producers and a number of charities who can distribute things like leftover t-shirts and pens to people who really need them. 

It is still early days, but judging by the reaction among conference-goers, Schwaggin’ Wagon has struck a nerve. Several Web 2.0 companies have lent their support to the project and organisers are looking for more sponsors.

Mr Liskin stresses that the group’s goal is not out to eliminate schwag altogether -  a potentially Sisyphean task. Rather, it is to make everyone involved think twice about what happens to their wares once the party ends.  “It’s not about putting anyone out of business in any way,” he says. “It’s about streamlining and giving it more thought.”

Steve Jobs was in a feisty mood on Thursday as he took questions from the audience at Apple’s shareholder meeting.

In his first public comments about backdating since the scandal broke last year, Mr Jobs defended his role, swatting down a question from an AFL-CIO representative who asked "what did you know, and when did you know it?"

"These issues are sometimes a little more complicated than they appear," Mr Jobs said. He said comments by Fred Anderson, Apple’s former CFO, who said he warned Mr Jobs about the accounting implications of a backdated options grant, were "wrong."

"I’m not going to go into any more detail," he said. He read from a statement by the SEC that praised Apple for its "swift, extensive and extraordinary cooperation" in the agency’s investigation into the company.  "Unless you think there’s a conspiracy involving the SEC I don’t know what else to say," Mr Jobs said.

Later in the Q&A session, Mr Jobs tangled with Greenpeace, saying the environmental group’s ranking of companies’ environmental performance was "based more on statements made at conferences than on any science."

Greenpeace and other green groups present at the meeting praised Mr Jobs for Apple’s decision last week to outline its environmental initiatives. But when asked whether Apple would be willing to establish formal relationships with groups like the Silicon Valley Toxics Coalition, Mr Jobs demurred.

"We’re not going to set up an infrastructure to deal with environmental groups," he said. "Our focus is on getting things done." However, he said Apple would be willing to work with green groups to develop a common ‘report card’ for measuring companies’ environmental performance.

The biggest barb of the day was reserved for Apple’s old nemesis. Asked why Apple didn’t consider spending more of its cash to invest in devloping new products, Mr Jobs said:"I wish developing great products was as easy as writing a cheque." Then, without missing a beat, he added: "If that were the case, Microsoft  would have great products."