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.



You must be logged in to post a comment.