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WTRS: “Rick Scott’s Company Touts Stimulus Cash”

Friday, June 25, 2010 / Press Release, Pressroom

POLITICO: “Scott company touts stimulus cash.” (POLITICO, “Scott company touts stimulus cash,” 06/24/10

  • POLITICO: “A telecommunications company owned in part by Florida gubernatorial candidate Rick Scott — an outspoken foe of the federal stimulus — has boasted of winning more than $60 million in stimulus grants and Department of Agriculture loans to develop high-speed internet infrastructure.”  (POLITICO, “Scott company touts stimulus cash,” 06/24/10)
  • POLITICO: “A company monitoring report filed with the SEC in 2009 describes…Scott as one of two “other major shareholders.” (POLITICO, “Scott company touts stimulus cash,” 06/24/10)
    • POLITICO: “Scott has been consistently vocal in his opposition to the stimulus act. At a June 2 campaign stop, he said he “would fight all the stimulus money” and that Florida “should not have accepted that money, because we’re all going to have to pay for it and our kids are going to have to pay for it.” (POLITICO, “Scott company touts stimulus cash,” 06/24/10)
      • POLITICO: “McCollum’s modest investments in those companies, however, make him a small investor; Scott’s major holdings in XFONE give him, at least, a voice in the management of the company.” (POLITICO, “Scott company touts stimulus cash,” 06/24/10)

PALM BEACH POST: “Scott company benefited from stimulus money.” (Palm Beach Post, “Scott company benefited from stimulus money,” 06/24/10)

  • PALM BEACH POST: “Republican gubernatorial candidate Rick Scott is critical of the federal stimulus package, but it looks like one of his companies has benefited from the money.” (Palm Beach Post, “Scott company benefited from stimulus money,” 06/24/10)
  • PALM BEACH POST: “…the stock price from XFONE, an international telecommunications company, nearly tripled after it received $63 million from the stimulus package.” (Palm Beach Post, “Scott company benefited from stimulus money,” 06/24/10)
  • PALM BEACH POST: “Scott, who owns about 15 percent of the company, invested $10 million in the company in 2007 and 2008. He lost most of the value of that investment when the stock price dove. But after receiving the stimulus money, the value of Scott’s holdings increased by $4 million.” (Palm Beach Post, “Scott company benefited from stimulus money,” 06/24/10

ST. PETE TIMES/MIAMI HERALD: “Rick Scott makes it clear there’s no way he would have accepted federal stimulus money as governor. At the same time, Scott lists among his investments a broadband company that received $63.6 million in federal stimulus.” (MIAMI HERALD/ST. PETE TIMES, “Rick Scott, Bill McCollum trade jabs over federal stimulus,” 06/25/10)

  • ST. PETE TIMES/MIAMI HERALD: “In December 2007 — before the stimulus was even a thought in anyone’s mind – Scott invested $4.9 million in Xfone, Inc. A subsidiary of the company later received $63.6 million in stimulus cash to add broadband Internet connections to rural areas. (MIAMI HERALD/ST. PETE TIMES, “Rick Scott, Bill McCollum trade jabs over federal stimulus,” 06/25/10)
  • ST. PETE TIMES/MIAMI HERALD: “A 2009 SEC filing lists Scott as a “major shareholder” in the company. As of December, he owned $400,000 in Xfone stock, significantly less than his initial investment.” (MIAMI HERALD/ST. PETE TIMES, “Rick Scott, Bill McCollum trade jabs over federal stimulus,” 06/25/10)

For more information, campaign news, and updates, visit www.BillMcCollum.com.

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