VP Makes PR Move in NC

by Amy Gretenstein

Vice President Joe Biden held a brief tour and speech Thursday in an effort to tout the success of the Obama administration’s stimulus package.

Touring Cree with Energy Secretary Steven Chu and then speaking for about 25 minutes, Biden bragged that Cree, a Durham company that manufactures light-emitting diodes (LEDs), is an “American success story.”  Cree received more than $39 million tax credits and has hired around 375 new employees within the last year.

As if that was not impressive enough, upon Obama’s inauguration, Cree stock sold for $18.76 a share and to $19.99 when he signed the stimulus bill. Today, the stock has been selling for about $71.44. Super impressive, indeed!

Not only is Cree being highlighted for its impressive economic gains and hiring, but it is also being noted for its boosting of manufacturing in renewable and energy-efficient technologies.

While I do agree Cree is a stimulus success story, it sure doesn’t hurt to have the vice president come in and pat the president on the back. Just days before a major House vote on the health care bill, Biden’s appearance might have something to do with swaying last minute votes. However, it is always good PR to highlight your successes and it appears Biden is doing just that.

Biden and the administration could not have picked a better success story. Cree is an American company increasing jobs and revenue, and is promoting renewable energy-efficient technologies. Looks to me like Biden “hit the nail on the head.”

Photo source: NathanF