zzdcar
Home
/
Reviews
/
Culture
/
House Committee Investigating Massive Oshkosh Stock Purchase Just Before USPS Fleet Award Announcement
House Committee Investigating Massive Oshkosh Stock Purchase Just Before USPS Fleet Award Announcement-February 2024
2024-02-19 EST 22:12:25

Image for article titled House Committee Investigating Massive Oshkosh Stock Purchase Just Before USPS Fleet Award Announcement

Postmaster General Louis DeJoy recently awarded Oshkosh Corp. a contract to supply the United States Postal Service with its next generation of vehicles—but some members of the House of Representatives are questioning that award after it was revealed that someone purchased a large share of stock in the company just before the award was announced.

A letter signed by Carolyn B. Maloney, Chairwoman of the Committee on Oversight and Reform reads as follows:

The night before the award announcement, an unknown party purchased 524,400 shares of Oshkosh Corp. stock worth $54.2 million. According to Bloomberg News, “the size of that trade was almost as much as average daily volume in the stock in the prior year.”

These concerns have been stemmed from previous concerns about this whole fleet decision. Specifically, the fact that only 10 percent of Oshkosh’s fleet would be electric, while the second option, Workhorse Group, could have provided an all-electric fleet. Which is kind of important, since President Biden’s explicitly calls for “clean and zero-emission vehicles for Federal, State, local, and Tribal government fleets, including vehicles of the United States Postal Service.”

The next US Postal Service mail truck briefly set the internet slightly aflame, as it is a…

DeJoy was also a little vague about the exact terms of the deal until he was pressed on them. Here’s more from the Committee letter:

Soon after the announcement, reports raised concerns over several aspects of the award. While two vehicles from competitors incorporated electrical powertrains, winning bidder Oshkosh reportedly submitted a prototype with a gasoline engine. Although the initial announcement stated that Oshkosh’s vehicles would be “equipped with either fuel-efficient internal combustion engines or battery electric powertrains,” you clarified in testimony before the Committee that only 10% of the initial order for the fleet would be electric.

The Committee is requesting documents related to the selection of Oshkosh as the USPS carrier.

Comments
Welcome to zzdcar comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Culture
EV Makers Are Scrambling to Get Buyers Their Credits Before It's Too Late
EV Makers Are Scrambling to Get Buyers Their Credits Before It's Too Late
Electric vehicle manufacturers are reckoning with the changing tax credit format, buses are getting a small boost nationwide, and apparently we all stopped driving right when gas prices were becoming normal again. All that and more in for Tuesday, August 16, 2022. When President Biden signs the Inflation Reduction...
Feb 15, 2026
How Girl Gang Garage Empowers Women and Launches Careers
How Girl Gang Garage Empowers Women and Launches Careers
Hidden away in a quiet, industrial area outside of downtown Phoenix is a custom car shop. Out front sits an old VW Beetle, a Nash Metropolitan and a Suzuki kei truck. The combination alone makes you ponder what lies behind the doors. Inside is an impressive collection: a couple...
Feb 15, 2026
Traffic Jams: The Clash - 'Rudie Can't Fail'
Traffic Jams: The Clash - 'Rudie Can't Fail'
Welcome to day two of Skalopnik Week. Today we’re listening to an absolute BANGER and a classic: The Clash’s 1979 hit “Rudie Can’t Fail”off their London Calling album. Goddamn this song has such a great rhythm to it. It was also featured in the movie Grosse Pointe Blank which is...
Feb 15, 2026
You Can Now Buy a Challenger Convertible From a Dodge Dealership... Sort Of
You Can Now Buy a Challenger Convertible From a Dodge Dealership... Sort Of
, but it’s doing so with a big bang. On top of seven special models, the company will also be doing something it hasn’t done for the entire run of the modern : . That’s right, there’s going to be a drop top Challenger… sort of. Basically, still isn’t...
Feb 15, 2026
The Dodge Challenger and Charger Are Going Out With a Bang
The Dodge Challenger and Charger Are Going Out With a Bang
It’s the end of the road for our large adult sons, the and . However, in typical fashion, they’re going out with a bang. The 2023 lineup for both cars will pay homage to the pair’s history with seven special models, the return of a slew of “heritage” colors,...
Feb 15, 2026
No, Georgia, Golf Carts Are not the Green Transportation of the Future
No, Georgia, Golf Carts Are not the Green Transportation of the Future
People in Peachtree City, Georgia are pretty adamant that are a viable and responsible mode of transportation. is just a bit south of Georgia’s capitol, Atlanta, and Peachtree’s residents travel freely along of golf cart paths. It has a population of 38,000 living among 13,000 households, but boasts 10,000...
Feb 15, 2026
Copyright 2023-2026 - www.zzdcar.com All Rights Reserved