Peloton is in trouble for its Tread+ treadmill. But Sen. John Hickenlooper's family just became inve
July 2024 · 5 minute read
2021-06-07T08:00:00Z
Peloton was facing federal scrutiny for safety issues when the Hickenloopers invested.
Rep. Virginia Foxx recently bought tobacco stock, but ditched newspapers.
Sen. Jon Ossoff has formed a blind trust to "to avoid any conflict of interest."
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 federal lawmakers filed in recent days. Here are the latest highlights from what we've found.
Sen. John Hickenlooper, a Democrat from Colorado, unsuccessfully ran for president in 2020. Reuters
Hickenlooper: More Peloton, fewer burritos
Democratic Sen. John Hickenlooper's wife, businesswoman Robin Pringle Hickenlooper, purchased up to $15,000 worth of stock in Peloton Interactive Inc. — the company that makes the eponymous stationary exercise bikes and other fitness equipment.
The company has come under federal scrutiny, with the US Consumer Product Safety Commission telling consumers to stop using Peloton's Tread+ treadmill around pets and small children. A child recently died in an incident involving such a treadmill and others have been injured.
Federal records indicate Pringle Hickenlooper's purchase of Peloton stock came on May 4, when the stock, which has shed nearly half its value since mid-January, was trading near a low point for 2021.
She also purchased up to $50,000 in stock of The Trade Desk, a digital advertising company.
Meanwhile, on May 19, Pringle Hickenlooper peddled and sold up to $250,000 worth of stock in Chipotle Mexican Grill Inc., although she reported retaining some of the fast food company's stock, which has roughly tripled in value since mid-March 2020. She serves on Chipotle's board.
Pringle Hickenlooper on May 10 also sold up to $250,000 worth of stock in Qurate Retail Group, the retail and media company that owns cable networks QVC and HSN. It also owns online shopping site Zulily.
Like all members of Congress, John Hickenlooper, who has represented Colorado in the Senate since January after an unsuccessful run for president during the 2020 election, is required to disclose the stock trades of his spouse because of the effect those trades could have on him personally.
Hickenlooper's office didn't respond to requests for comment.
Rep. Virginia Foxx, a North Carolina Republican, recently purchased stock in tobacco giant Altria. Tom Williams/CQ-Roll Call, Inc via Getty Images
Virginia Foxx: Tobacco in, news out
Rep. Virginia Foxx, a Republican from North Carolina, went on a stock buying spree in May, purchasing shares in half-a-dozen companies together worth up to $175,000.
Among her purchases was $15,000 worth of shares in Altria Group Inc., the tobacco giant that owns Philip Morris USA and produces cigarette brands such as Marlboro, Parliament, Virginia Slims, and Basic.
Foxx on May 27 also sold up to $50,000 worth of shares in the Tribune Publishing Company, the newspaper and publishing operation that had been acquired three days earlier by hedge fund firm Alden Global Capital. She had little choice, as Tribune Publishing is now privately held and no longer trades common stock on the stock market.
Tribune Publishing owns nine newspapers, including the Chicago Tribune, Orlando Sentinel, Baltimore Sun, and the Daily News of New York City.
Sen. Jon Ossoff, a Georgia Democrat, has set up a blind trust into which he's putting his assets. David Goldman/AP
Blinders for Jon Ossoff
Freshman Sen. Jon Ossoff, a Democrat from Georgia, has created a blind trust for his personal assets "to avoid any conflict of interest, or appearance of any such conflict, which may arise from his duties and powers," according to trust formation papers.
By forming a trust, Ossoff relinquishes most control over his personal investment affairs and will only receive periodic updates about the trust's total cash value.
Upon creation of the trust, Ossoff reported owning sizable stock interests in several companies, including up to $5 million in Apple Inc., up to $250,000 in Warren Buffett holding company Berkshire Hathaway Inc., and up to $100,000 in Coca-Cola Co. (Members of Congress are only required to report such assets in broad ranges.)
The trust will terminate when Ossoff is no longer a senator or not serving in "any other position to which he may have been subsequently appointed or elected in the federal government."
The Pendleton Square Trust Company LLC of Nashville, Tennessee, will serve as the trustee. The trust, which Ossoff disclosed on June 4, went into effect on March 26.
Sheldon Whitehouse ditches Intel
Usually when senators and "intel" are mentioned in the same sentence, it's in the context of the Senate Select Committee on Intelligence.
Sen. Sheldon Whitehouse, a Democrat of Rhode Island, has had Intel, the computer chip maker, on his mind.
Rep. Mo Brooks, the Alabama Republican who is now running for Senate, purchased up to $15,000 worth of General Electric corporate bonds on May 14.
Brooks has most recently earned headlines for his battle with fellow congressman Eric Swalwell, a California Democrat who for weeks has been attempting to serve Brooks with a lawsuit that seeks to hold him partially responsible for the January 6 attack on the US Capitol.
Brooks on June 6 acknowledged in a tweet being served with the lawsuit — and accused Swalwell's representatives of "unlawfully sneaking INTO MY HOUSE & accosting my wife."
Philip Andonian, an attorney for Swalwell told CNN that "no one entered or even attempted to enter the Brooks' house. That allegation is completely untrue."
