Take Crony Capitalism and Then Put a Big Ole Heap of Pay To Play on Top
When Hurricane Maria touched down in Puerto Rico, Whitefish Energy Holding had two full time employees. Today, they have been rewarded a contract for $300 million to restore power to the island.
Now how the hell did that happen? Oh, the usual way – big campaign donations.
The private equity firm that finances Whitefish is controlled by Joe Colonnetta. Joe and his wife are major, major, big time donors to Donald Trump – donating the limit to both his primary campaign and his general election fund. They tossed more money into PACs for Trump and the RNC.
And that’s not all. The CEO of two-year-old Whitefish is Andy Techmanski.
The Washington Post and the Daily Beast on Tuesday offered more details on the company’s backers. The Post noted that the firm is based in Zinke’s hometown and that its CEO, Andy Techmanski, is friendly with the Interior secretary.
So, a friendship with Zinke and some cash did the trick, and a trick it certaintly is! This is a $300 million dollar government contract going to a two-year-old firm with two employees. That right there isn’t a easy feat to pull off.
But practice does make perfect.
Joe Colonnetta’s relationship with the GOP is not limited to his contributions; he’s a prominent figure in Texas Republican politics. According to HBC’s website, in 2013 then-Texas Gov. Rick Perry appointed Colonnetta as a trustee for the Retirement System of Texas; in 2015, Texas Gov. Greg Abbott appointed Colonnetta to serve as chairman of the investment committee also at the Retirement System of Texas; and the same year, Texas Lt. Gov. Dan Patrick appointed Colonnetta to his policy advisory committee.
Hey, Slick Joe learned from the best.
Thanks to Deb T and Alfredo over at the Dairy Queen for the heads up.