Last week I blogged that Condi Rice gave the thumbs up to
the “reality” of cellulosic transportation fuels and to the wonderful outlook
of KIOR a company where she sits on the board of directors. Actually Condi also has a close business
relation with Vinod Khosla who is a large shareholder in KIOR. The statement in KIOR’s press release
attributed to Condi must have been vetted by a team of lawyers.
The statement was as follows:
"KiOR
is changing the American energy equation by innovating and commercializing an
entirely new generation of hydrocarbon-based diesel and gasoline fuel. By
making the promise of cellulosic fuels a reality, KiOR demonstrates that these
fuels are an attractive option for lessening America's dependence on foreign
sources of energy."
KIOR announced this just as the market opened on
Monday morning. Partly due to Condi’s
statement the stock moved up $6.10 early in the trading day from $5.88 where it
opened. The market then digested the
earning and the real statements by the CFO in the earnings call where he stated
that shipments of the cellulosic fuel were essentially zero. By Friday (yesterday) KIOR stock has dropped
to $5.13.
I am no legal expert but I do believe that folks
who bought the stock early on Monday morning relying on the statement of the
former secretary of state may have a case against her and the company. Note the CFO’s statement were made later in
the day and then the stock headed down.
I found an interesting video links that relates to
this blog.
This is an old ad for a stock brokerage house E F
Hutton that had the ad tag line “when E F Hutton talks people listen”. E F Hutton is now long gone and is party of
Citi Group’s and Morgan Stanley’s too big to fail empires.
The lemmings in the video were the investors who bought KIOR
first thing on Monday. Condi you may be
a genius, you may be Khosla’s strategic adviser, but you are going to look a
long time for KIOR’s missing weapons of mass combustion. I still have a target price of $3 on KIOR.
The personal statement is your opportunity to give the admissions committee a sense of the person behind all the grades and test scores. Many of the other applicants are likely to have similar academic credentials, but none has your particular experience, background, or outlook. See more statement of purpose for ms in mechanical engineering
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