There is growing incentive to reduce the power consumed by data centers. Virtualization is a promising approach to consolidating multiple online services onto a smaller number of computing resources. By dynamically provisioning virtual machines, consolidating the workload, and turning servers on and off as needed, data center operators can maintain desired service-level agreements with end users while achieving higher server utilization and energy efficiency. This paper proposes a distributed cooperative control framework for the power and performance management of virtualized computing environments, and presents some preliminary results aimed at establishing the feasibility of this approach.