Monday, June 25, 2018

WHY DID STEVE CASE QUIT BLOOM'S BOARD????



Sometime between late October 2016 and December 21, 2016 Steve Case the superstar from AOL quit Bloom Energy's board of directors.  He said goodbye to Doerr, Powell, Shridhar, Zervigon, Rodgers, Teti, and Sandell,

Of course Bloom has never announced the news or the reason why Case quite.

Case joined the board in August 2014 and was not part of the hush money stock deal of 200,000 shares with Badger and Daubenspeck of Advanced Equities in June 2014.

In March 2016 GSV called their investment in Bloom "dead money" and bailed out with a 40% loss.

In October 2016 the Wall Street Journal reported the wikileaks news that Colin Powell twisted the arms of Speaker Ryan for the reinstatement of the 30% investment tax credit.


In October 2016 it was announced that Bloom had started the ball rolling at the SEC for the stealth IPO.

For the year 2016 Bloom lost $279,658,000.  My guess of the losses for the three years Steve Case was on board is three times the losses for 2016 or approximately $837 million.

Maybe Steve Case just did not want to be part of the Bloomdoggle and realised it was time for Case Closed???



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