Billionaire husband of US Congresswoman pushed green energy in his newspapers having possibly held ownership position in state's largest wind developer
S. Donald Sussman founded the Paloma Funds in 1981. The firm’s multi-strategy hedge funds employ various quantitative, relative value and computerized statistical arbitrage strategies.
According to Teri Buhl, the Paloma’s main fund was up 20% in 2009 and has had an average annualized return since inception of over 20%. In her Greenwich Time article, Ms. Buhl also reported that Sussman's fund has incubated several hedge fund trading legends, “such as David Shaw of D.E. Shaw; Dan Arbess, who runs Perella Weinberg's Xerion Fund; Bruce Kover of Caxton Associates; Richard Perry of Perry Capital; and Dan Och of Och-Ziff.”http://hedgetracker.com/article/MurderSuicide-plot-at-Paloma-Partne...
S. Donald Sussman, the billionaire husband of Congresswoman Chellie Pingree (D-Maine) gave hedge fund D.E. Shaw its start with $28 million. D.E. Shaw is the longtime half owner of First Wind, the wind developer running roughshod over the ridges and mountains of Maine in its endless pursuit of taxpayer funded subsidies, stimulus grants and government mandated support from ratepayers. Sussman is also the owner of Maine Today Media, owner of the largest newspapers in the state such as the Maine Sunday Telegram, Portland Press Herald, Kennebec Journal and Morning Sentinel.
The screenshot below references the $28 million amount.
http://www.institutionalinvestorsalpha.com/Article/3259267/Hedge-Fu...
http://www.institutionalinvestorsalpha.com/Article/3259265/Hedge-Fu...
Separately, from the Maine Center for Public Interest Reporting:
http://pinetreewatchdog.org/maines-10-big-money-elite-giving-3-95-m...
And let's not forget that Congresswoman Pingree helped Angus King (now US Senator) get a $102... DOE loan guarantee for his wind project. The criteria for getting the $102 million loan guarantee was having breakthrough technology. Many believe this wind project did not meet that criterion. The Senator's son heads up mergers & acquisitions for First Wind.
Views: 921
Comment
-
Comment by Whetstone_Willy on February 26, 2015 at 6:31pm
-
If only Angus King dodged the graft as he did the draft.
-
Comment by arthur qwenk on February 26, 2015 at 6:05pm
-
Maine, Where Graft is Greener!
-
-
After years of dealing with the wind issue, I can say with sadness that Maine is a very dirty little state, politically.
It is a shame how unctuous political elites have manipulated the legislative process as it concerns the wind scam.
Governor LePage should immediately place a halt to all further wind projects until detailed cost/benefit analysis is undertaken of the wind industry in Maine.
In addition , an ethical "audit" should be initiated by the administration to review the process of law (or lack of it ) that has created the outrageous breaches to constitutional citizen rights that has occurred , as created by the fatally flawed expedited Wind Bill of 2008, Pl-661.
Let is also be known that Naomi Shalit's expose of 1/7/2015 is only the tip of the iceberg as it relates to corruption of law and process by the wind scoundrels in Maine.
-
Comment by Barbara Durkin on February 25, 2015 at 8:48am
-
First Wind Holdings Inc. is backed by D.E. Shaw & Co. and Madison Dearborn Partners LLC.
http://www.bloomberg.com/news/articles/2010-11-24/d-e-shaw-s-first-...
Paloma Partners, Donald Sussman’s firm, staked David Shaw $28 million to start D.E. Shaw & Company in 1988.
https://www.deshaw.com/articles/HallOfFame_DavidShaw.pdf
“S. Donald Sussman, majority owner of MaineToday Media, is a billionaire hedge fund manager who happens to be married to U.S. Rep. Chellie Pingree, a Democrat.
Mr. Sussman is also a member of the secretive Democracy Alliance, an elite club of millionaires and billionaires who spend mindboggling sums influencing elections and culture…”http://www.portlanddailysun.me/index.php/opinion/columns/12541-port...
MaineToday Media, Inc. is Maine's largest multi-media company and encompasses the following publications: The Portland Press Herald, Maine Sunday Telegram, Kennebec Journal, Morning Sentinel, Coastal Journal, RaisingMaine, MaineToday.com, MaineWheels.com,MaineRealEstateToday.com, MaineJobs.com, MaineBusiness.com, MaineOutdoorJournal.com, ExploringMaine.com, MainePets.com, MaineYellowPages.com. MaineToday Media, Inc. purchased Blethen Maine Newspapers on July 15, 2009.
http://www.july4thportland.org/about.html
Per chance, have any of these publications provided objective coverage of First Wind events?
Are there disclosures provided by these publications about financial interest held by DE Shaw in First Wind as relates to Palmoma and Donald Sussman's investment in DE Shaw?
-
Comment by Long Islander on November 2, 2014 at 12:20am
-
First Wind Holdings LLC will get a $117 million loan guarantee from federal "stimulus" funds to finance the construction and start-up of a wind energy project in Kahuku, Hawaii, the federal Department of Energy announced Friday. Once complete, the project will create "six to ten" jobs, according to the Department of Energy. At $117 million, works out to a federally guaranteed loan of between $19.5 million and $11.7 million for each job created.
Last year, when the Obama administration awarded its first windmill windfall of $115 million to First Wind, wereported on some of First Wind's connections to the administration:
First Wind ... had owners that included D.E. Shaw and Madison Dearborn Partners. Shaw is the firm at which President Obama's chief of the National Economic Council, Lawrence Summers, held a $5.2 million a year, one-day-a-week job, and Madison Dearborn is the firm of which Rahm Emanuel, now the White House chief of staff, said, "They've been not only supporters of mine, they're friends of mine."...
http://www.futureofcapitalism.com/2010/03/another-117-million-for-f...
-
-
The NYC-based global investment management firm D.E. Shaw & Co. was founded in 1988 by David E. Shaw with a seed capital of 28 million dollars. The fund has grown considerably to a staggering 26 billion dollars of assets under management. Today it has a workforce of over 1000 employees spread over four cities in the US (Kansas City being one of them) , an office in London, and with noticeable presence in Asia (five offices with two in India).
From the very start, Mr. Shaw attracted prominent investors. For instance, Mr. Shaw was able to obtain funds from Donald Sussman who was the founder of the reputed hedge fund Paloma Partners. Continental Casualty Co. (owned by Loews Corp.) was another early and notable investor in D.E. Shaw.
Maine as Third World Country:
CMP Transmission Rate Skyrockets 19.6% Due to Wind Power
Click here to read how the Maine ratepayer has been sold down the river by the Angus King cabal.
Maine Center For Public Interest Reporting – Three Part Series: A CRITICAL LOOK AT MAINE’S WIND ACT
******** IF LINKS BELOW DON'T WORK, GOOGLE THEM*********
(excerpts) From Part 1 – On Maine’s Wind Law “Once the committee passed the wind energy bill on to the full House and Senate, lawmakers there didn’t even debate it. They passed it unanimously and with no discussion. House Majority Leader Hannah Pingree, a Democrat from North Haven, says legislators probably didn’t know how many turbines would be constructed in Maine if the law’s goals were met." . – Maine Center for Public Interest Reporting, August 2010 https://www.pinetreewatchdog.org/wind-power-bandwagon-hits-bumps-in-the-road-3/From Part 2 – On Wind and Oil Yet using wind energy doesn’t lower dependence on imported foreign oil. That’s because the majority of imported oil in Maine is used for heating and transportation. And switching our dependence from foreign oil to Maine-produced electricity isn’t likely to happen very soon, says Bartlett. “Right now, people can’t switch to electric cars and heating – if they did, we’d be in trouble.” So was one of the fundamental premises of the task force false, or at least misleading?" https://www.pinetreewatchdog.org/wind-swept-task-force-set-the-rules/From Part 3 – On Wind-Required New Transmission Lines Finally, the building of enormous, high-voltage transmission lines that the regional electricity system operator says are required to move substantial amounts of wind power to markets south of Maine was never even discussed by the task force – an omission that Mills said will come to haunt the state.“If you try to put 2,500 or 3,000 megawatts in northern or eastern Maine – oh, my god, try to build the transmission!” said Mills. “It’s not just the towers, it’s the lines – that’s when I begin to think that the goal is a little farfetched.” https://www.pinetreewatchdog.org/flaws-in-bill-like-skating-with-dull-skates/
Not yet a member?
Sign up today and lend your voice and presence to the steadily rising tide that will soon sweep the scourge of useless and wretched turbines from our beloved Maine countryside. For many of us, our little pieces of paradise have been hard won. Did the carpetbaggers think they could simply steal them from us?
We have the facts on our side. We have the truth on our side. All we need now is YOU.
“First they ignore you, then they laugh at you, then they fight you, then you win.”
-- Mahatma Gandhi
"It's not whether you get knocked down: it's whether you get up."
Vince Lombardi
Task Force membership is free. Please sign up today!
Hannah Pingree on the Maine expedited wind law
Hannah Pingree - Director of Maine's Office of Innovation and the Future
"Once the committee passed the wind energy bill on to the full House and Senate, lawmakers there didn’t even debate it. They passed it unanimously and with no discussion. House Majority Leader Hannah Pingree, a Democrat from North Haven, says legislators probably didn’t know how many turbines would be constructed in Maine."
https://pinetreewatch.org/wind-power-bandwagon-hits-bumps-in-the-road-3/
© 2024 Created by Webmaster.
Powered by
You need to be a member of Citizens' Task Force on Wind Power - Maine to add comments!
Join Citizens' Task Force on Wind Power - Maine