They actually have a device for climates where you need colder air and more humidity. And they're a lot cheaper to run than an air conditioner from what I understand.
http://en.wikipedia.org/wiki/Swamp_cooler

I've worked at a two different "small IT shops" where the owners offered out shares to hard working employees to keep them around. Not one of those employees is still on speaking terms with the owner of either company. Lawsuits were not involved with the departure of all of these people, but enough of them did end up involved in suits that I personally would never accept stock in a small IT shop where I was working. In fact, watching what said shops did to many close friends - I don't think I would even work as an employee at a small IT shop again!