Investing
Worst Corporate Press Release Of The Day: Comverge (COMV)
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Most companies would never think of sending out a press release congratulating the new president. It looks too self-serving and smarmy.
Comverge (COMV) could not help making itself look foolish. The provider of clean energy solutions issued a press release congratulating Mr. Obama "on his commitment to usher in a new era in America’s energy policy — an era that calls upon comprehensive clean energy solutions to power our future. "
To make certain that the company looked like it was aligning itself with all that is right and good, it added Robert M. Chiste, Chairman, President and CEO of Comverge, said, "Comverge is uniquely positioned to support these goals and lead by example while demonstrating the benefits inherent in President-elect Obama’s commitment to a clean energy future. Our clean energy technologies for demand management and smart grid are very cost-effective now, even without government subsidies."
Comverge also believes that first degree murder should be punished by life in prison and that people should not be allowed to smoke in restaurants.
The press relations effort is working, The stock is only off 80% from its 52-week high of $35.25.
Douglas A. McIntyre
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