Rick Scott’s campaign finally ran out of talking points about the governor’s finances.
The latest evidence of Scott mixing public service and private profit involves the contractor for SunPass toll collections. The Miami Herald and Tampa Bay Times reported last week that Scott has ties to the vendor, Conduent, through his and his wife’s investment in a hedge fund that owns three percent of Conduent’s stock.
For six months, SunPass users have endured billing errors and customer service problems. Yet the Florida Department of Transportation, which Scott supervises, did little. The state finally announced in August that it would fine Conduent $800,000. The contract is worth $343 million.
Confronted with another example of Scott’s profiteering, a campaign spokeswoman emailed this response: “Has the Times assigned you to exclusively comb through the governor’s financial disclosure? Is the Times going to cover Bill Nelson’s investments, which he has total control over?”
That non-denial denial at least represented a change from the usual evasion. Scott’s people previously claimed that the governor had no knowledge about his investments because he placed them in a blind trust after taking office. The governor’s enablers similarly have claimed that Scott does not consult with his wife, who has a separate trust.
Revelation after revelation, however, has punctured that piñata of a cover story. Last week, The New York Times knocked it open with a report on “the blind trust that wasn’t blind.”
Scott opened himself to these exposures by challenging Nelson for the Senate. Federal financial disclosure rules are tougher than Florida’s. Among other things, Scott had to list his wife’s assets.
As the Times reported, Ann Scott might be worth even more than her husband. Ann Scott’s holdings “largely mirrored” those of her husband, thus allowing Scott to track his investments by tracking hers.
Scott has argued that he can’t mix policy and profit because he doesn’t control the trust. The Times, however, examined the holdings and called the trust blind in name only. There have been numerous ways for him to have knowledge about his holdings.”
Scott transferred to his wife assets that were neither blind nor disclosed. “And their investments have included corporations, partnerships and funds that stood to benefit from his administration’s actions.” Scott and his wife could be worth as much as $510 million. His net worth alone increased $83 million last year.
Among Scott’s other policy-related investments:
A natural gas pipeline that benefits Florida Power & Light. FPL has been one of Scott’s biggest corporate donors, and Scott’s appointees to the Public Service Commission have ruled consistently for FPL, including approval of the pipeline;
A mortgage security firm whose value went up as foreclosures increased. Under Scott, Florida was slow to apply for federal assistance to homeowners under an Obama administration program;
Puerto Rico’s electric utility. Scott has been advising the island territory on recovery from Hurricane Maria;
A pharmaceutical company accused of inflating prices for its Hepatitis C drug. Under Scott, Florida’s Medicaid program stuck with the drug when other states sought cheaper alternatives. The state has paid the company nearly $800 million;
Brightline’s high-speed rail service from South Florida to Orlando and perhaps on to Tampa. Scott refused $2.4 billion during the Obama administration for a high-speed link between Orlando and Tampa. He now supports such a service;
An auto plastics company that Scott controlled and was sold in 2017 to a Japanese conglomerate, contributing to that jump in his net worth. In 2013, Scott made a trade visit to Japan and met with two of the prospective buyers.
There’s irony in that last item. The company improved only after Scott – the self-proclaimed business whiz – gave up his management role to become governor.
The talking point rarely varies from this example, after one of the disclosures: “Gov. Scott has never made a single decision as governor with any thought or consideration of his personal finances.” But that’s the Rick Scott we’ve come to know. Confronted with the facts, he makes stuff up.
Scott long has opposed the Affordable Care Act, which prohibits insurers from charging more for pre-existing conditions. Yet his new ad shows Scott with his mother, saying he would force insurers to cover pre-existing conditions.
You can believe the ad and the talking points. Or you can believe the record.
