Tuesday, July 27, 2010

Wis. Ron Johnson Changed Mind, Not Selling BP (NYSE:BP) Shares

Originally when Republican Senate candidate Ron Johnson was questioned two weeks ago about his BP (NYSE:BP) shares, he said he was going to be selling them. It seems he has had a change of heart because now he's not so sure.

He owns between $116,000 - $315,000 in BP stock. His campaign said on July 9th that Johnson was planning on moving his investments into a blind trust. Days later at the completion of a campaign rally, he told reporters that he was planning on selling his BP stock to help fund his campaign. As of Monday, he said the sale wasn't for sure.

"I think that will eventually happen, but I'm going to do it based on market conditions. I'm going to have to finance this campaign. At some point in time to get my message out, that will probably happen. But it's going to be based on market conditions," said Johnson.

His running mate, Democratic Senator Russ Feingold has accused Johnson of talking out of both sides of his mouth. John Kraus, Feingold's campaign strategist stated, "The fact that he now says he is waiting to make profit off his investment in BP so that he can continue to fund his campaign to defend big oil, shows that he is more interested in corporate profits than doing the right thing."

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