Terri Lynn Land has been throwing anything and everything at the wall in an attempt to revive her increasingly flailing campaign. Her latest effort is to attack Peters for a minor investment – less than 1% of his total portfolio – in Total S.A. – a French energy company that produces petcoke as a small part of its business. Peters has been an outspoken critic of the storage of petcoke in Detroit.
What Land fails to mention is that she herself owns Total S.A. stock through several mutual funds she is invested in. According to financial statements released by Land, she has $15,001-$50,000 worth of investments in the Wells Fargo WFA Absolute Return mutual fund, over 85% of which is comprised of the GMO Implementation Fund and the GMO Alpha Only Fund (click HERE, then click the “Fund Holdings” tab.) Between the them, these two funds hold over 3 million shares of Total S.A. stock (click HERE and HERE.)
It’s also worth noting that the piles of petcoke that Peters helped to remove from the banks of the Detroit River were not from Total S.A. The petcoke that polluted Detroit neighborhoods was actually tied to the Koch brothers who have – through their various corporatist front groups – spent over $6 million to help bolster Land’s failed campaign.
As Yoda would say, “The hypocrisy is strong with this one.”
