Sunday, November 29, 2009

General Wesley Clark's Wind Farm Stock Options

Political blogs skirmished over generals pushing alternative energy sources, all in the name of U.S. security. They failed to note financial inducements for any general's position. Take Wes Clark, a member of the Blue team. He sits on five corporate boards, including Juhl Wind, Inc., a wind farm company. This is from Juhl's recent prospectus:

In addition, on June 29, 2009, we granted General Clark options to purchase 500,000 shares of our common stock outside of our 2008 Incentive Compensation Plan at $2.00 per share, with 166,666 options immediately exercisable, 166,667 options vesting on June 29, 2010, and 166,667 options vesting on June 29, 2011.

Clark even helped Juhl raise money for a new equity fund. I sent this information to a blue chip Blue blogger. His comment:

People sure like to cash in in Washington.

Well stated.