Just days after the presidential election, a new investment firm called Pine Island Acquisition Corporation quietly began trading on the New York Stock Exchange, with the prospect of becoming a notable player in the $2 trillion defense and aerospace industry. The company’s greatest asset was not its relatively modest bankroll goal of $200 million, but its connections — deep ties to policy establishment figures shaping the incoming Biden administration.
In describing itself to potential investors, Pine Island’s prospectus boasted a leadership team with “extensive access, insight, expertise and management skill” in the defense sector.
In the dawning Biden era, that might be an understatement.
Hellbound and Down 