Republican gubernatorial candidate Rick Scott is critical of the federal stimulus package, but it looks like one of his companies has benefited from the money.

Research from one of Scott’s opponents shows that the stock price from XFONE, an international telecommunications company, nearly tripled after it received $63 million from the stimulus package.

POLITICO just reported that the company touted its stimulus money in a press release.

Scott, who owns about 15 percent of the company, invested $10 million in the company in 2007 and 2008. He lost most of the value of that investment when the stock price dove. But after receiving the stimulus money, the value of Scott’s holdings increased by $4 million.

UPDATE: From the Scott campaign: McCollum is an investor in numerous companies that have already received and/or applied and lobbied for stimulus dollars and made quite a bit of money off of the federal government.

“There is an old adage,” Scott spokeswoman Jen Baker said. “He who lives in a glass house, should not throw stones. This is just the latest sloppy attack by a desperate career politician.”

Tags: Rick Scott, stimulus

This entry was posted on Thursday, June 24th, 2010 at 2:04 pm and is filed under 2010 campaigns. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.