Why Condi Rice Got Kiored

A friend asked me how a supposedly brilliant person like Con D Rice could have got involved in the Kior Caper?  First let me explain Kior and who was behind them.  Kior is the fraudulent company that was to produce diesel and gasoline from pine trees using a “special white catalyst”.  Of course thermodynamics showed they were hyping and now the State of Mississippi that lost $75 million in a loan to the gangrene bankrupt company is suing numerous shareholders, directors, and officers of the company.  The lead promotor of the fake technology is one Vinod Khosla.  Khosla claimed to be the guru of green.

Khosla was dinner host to Mr. Obama at a fundraiser in his home.  Khosla has Toxic Tony Blair as well as Con D Rice as advisors and even placed Con D on the board of directors of Kior just about the time of their Initial Public Offering on the NASDAQ.  The day before the IPO, Kior announced Con D would join the board a week later.  Of course the timing is not coincidental. It was done to hype the IPO.

http://venturebeat.com/2011/06/22/condoleezza-rice-kior-directors/

The US DOE got cold feet on Kior a few months before the IPO and did not make the $1 billion loan that a term sheet had already been executed for to fund this absent loan.   In about a month under the freedom of information act, I should get the independent engineer’s assessment of the Kior technology that was given to the US DOE.  My hunch is this report was critical of the Kior technology and that is the major reason why the DOE pulled out of the loan

The placement of Con D on the board was a way to keep the IPO going as the IPO then became the critical source of funding for the continued folly of trying to make diesel and gasoline from pine wood.   Con D became an advisor to Khosla in December 2012, 18 months after the joining the Kior Board of Directors.  This proves the relationship during that time and also beyond was good, and Con D believed that Khosla was a greentech guru.

http://www.bloomberg.com/news/articles/2012-12-13/khosla-ventures-hires-condoleezza-rice-as-adviser

On December 23, 2013, Con D resigned from the board of directors of Kior.  But her problem is she falsely hyped the company nine months earlier on March 18, 2013.

http://www.greenexplored.com/2013/03/kior-ships-essentially-zero-biofuels.html

 Con D’s other problem is she sold shares as an insider in the company for a profit on March 30, 2012.   The share trade was nine months before it was announced she had become an advisor to Khosla.  Maybe the share trade was the conception and the advising was the birth of this wonderful relationship?

http://www.insider-monitor.com/trader/cik1528387.html

As Con D is not a cretin, one has to believe she believed in Kior, or she was given information by others to believe in Kior, or she simply was greedy.  I do not have her attendance records at board meetings but the Stanford professor had to have believed the alchemy was real for her to insider trade the shares in March 2012 and then hype the stock a year later in March 2013. 

I would doubt that Con D and Khosla are very tight today.  I would also doubt that Toxic Tony Blair does much advising to Khosla any longer in the green space.  Con D is lucky she actually joined the board a few days after the IPO, that she never signed the S1 for the IPO, and that she was not in the board room when they discussed the DOE loan that was yanked from the company.  However, Con D did insider trade shares for a profit and did issue a false hyped statement about the reality of Kior’s ability to produce substitute fuels from pine trees that are normally derived from oil.  Con D must answer for this.  Khosla must answer a longer list of questions including his role in myriad other thermodynamic fakes.  He even has a role in the Bloom Energy Bloomdoggle.  Yes Khosla is no Green Guru.