Congressional stock report: Diet Coke-loving Debbie Dingell buys the competition, environmentalist Lois Frankel eyes oil, and Dan Crenshaw gets his move on
- Members of Congress regularly make stock trades and are required to disclose them.
- Sometimes they buy and sell shares of companies that have big business before the government.
- Here’s Insider’s compilation of the most recent stock trades lawmakers disclosed.
- See more stories on Insider’s business page.
Members of Congress routinely trade stocks, buying and selling the shares of companies that often have significant business before the federal government — and sometimes spend lots of money to lobby lawmakers.
Insider dug through congressional financial disclosure records that federal lawmakers filed in recent days. Here are the latest highlights from what we’ve found.
Oil fuels Florida congresswoman’s portfolio
Rep. Lois Frankel, a Democrat from Florida, made a flurry of stock trades during late February and early March, including some that appear to conflict with her clean-and-green policy positions.
Her purchases — all in the $1,001 to $15,000 range — included Alliant Energy Corporation, industrial materials maker Hexcel Corporation, insurer Progressive Corporation, and Xcel Energy Inc.
Her stock sales include the American Express Company, Booz Allen Hamilton Holding Corporation, consumer credit reporting agency Equifax Inc., and oil company Hess Corporation. All were also in the $1,001 to $15,000 range.
Frankel is a staunch environmentalist who receives high marks from the League of Conservation Voters. This makes notable her trades in a petroleum company and utilities that burn fossil fuels. Frankel spokesperson Olivia Hodge last year told the South Florida Sun Sentinel that the lawmaker’s stock portfolio “is chosen by an independent money manager.”
Coke vs. Pepsi, Congress-style
Rep. Debbie Dingell makes no secret of her love for Diet Coke. She’s Instagrammed and Facebooked about the fizzy beverage. She’s cited it in a press release. And it was there with her during a recent hearing on marijuana policy.
But on March 2, Dingell did what some Coke lovers might consider soft-drink heresy: she invested up to $50,000 in PepsiCo Inc., makers of Pepsi.
Dingell this month also sold up to $50,000 worth of stock in the parent company of department store Macy’s.
While the department store has struggled during the pandemic, its stock price has increased significantly during the past six months.
Crenshaw’s infrastructure week
Rep. Dan Crenshaw, a Republican from Texas, has recently purchased stock — all in the $1,001 to $15,000 range — in several companies that rely on the nation’s transportation system. Among them: Amazon.com Inc., Boeing Company, Hertz Global Holdings Inc., and Southwest Airlines Company.
Salad days for Blumenthal
The wife of Sen. Richard Blumenthal, a Democrat from Connecticut, purchased up to $100,000 worth of stock in restaurant company SweetGreen Inc. on January 13. SweetGreen is a privately-held company.
Brainy move for Huizenga?
Rep. Bill Huizenga, a Republican from Michigan, late last year purchased up to $15,000 in stock of Grey Cloak Tech Inc., now known as Healthy Extracts Inc. The company’s offerings include “unique, plant-based superior health technology neuro-products that improve brain health, such as memory, cognition, focus and neuro-energy.”
Lowenthal makes a media move
Rep. Alan Lowenthal, a Democrat from California, on February 16 sold up to $50,000 worth of stock in Outfront Media Inc., a company that specializes in billboards, public transit advertising, and other outdoor display ads.
McConnell fam making bank
Senate Minority Leader Mitch McConnell‘s wife, former Department of Labor and Department of Transportation Secretary Elaine Chao, purchased up to $15,000 in Wells Fargo stock through a dividend reinvestment.
Former Sen. Martha McSally, a Republican from Arizona who lost in November to Democrat Mark Kelly, on Friday disclosed that she earned $121,750 in royalties last year from her 2019 book “Dare to Fly.”
Delay, delay, delay
Sens. Mitt Romney, a Republican from Utah; Dan Sullivan, a Republican from Alaska; and Sheldon Whitehouse, a Democrat from Rhode Island, each requested — and received — 90-day extensions for filing their annual personal financial disclosures. These disclosures, which include a range of information about members’ income, assets, debt, and financial trades, were originally due May 17. They’re now due August 15.
Similarly, Sen. Alex Padilla, a Democrat from California appointed to fill Vice President Kamala Harris’ former seat, asked for a second (and final) extension on his mandatory personal financial disclosure. His is now due by May 20.
Move to amend
Sen. John Kennedy, a Republican from Louisiana, this week amended several of his annual financial disclosures dating back to 2016.
Get the latest Boeing stock price here.
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