Montana Sen. Jon Tester’s campaign reportedly amplified attempts to disparage Republican opponent Tim Sheehy’s business ahead of the election, the Wall Street Journal reported.
Sheehy, the Navy SEAL Republican Senate candidate seeking to oust vulnerable Tester from the Senate this cycle, was the CEO of veteran-founded Bridger Aerospace, a Montana-based company that builds aerial firefighting aircraft. The Navy SEAL has since stepped back from his role in the company amid his Senate campaign.
The Wall Street Journal released a scathing report Friday calling out Tester’s re-election campaign for suggesting that Sheehy’s business, which consists of local Montana employees and stockholders, is “failing.”
Marc Cohodes, a short seller, and several Tester donors reportedly sent a letter to the Small Business Administration calling for an investigation into Sheehy’s business over “false statements” on a federal form, the WSJ reported. Cohodes was featured in an NBC report in August suggesting that Bridger could face financial collapse.
Tim Sheehy, founder and chief executive officer of Bridger Aerospace and Republican Senate candidate for Montana, in the Bridger hangar in Bozeman, Montana, on Thursday, Jan. 18, 2024. Sheehy is a former Navy SEAL with a hole in his heart, a bullet in his arm, a plan to become Montana’s next senator and a mission to fix America’s wildfire crisis. (Louise Johns)
What was reportedly left out of several reports against Sheehy’s business was that the “false statement” was the result of an employee accidentally selecting the “SDB” (socially disadvantaged business) box instead of the intended “SDVOSB” (service-disabled veteran-owned business) box.
The Gallatin Commission responded to the claims and suggested they were “politically-motivated inquiries.”
“We believe these concerns stem from a misunderstanding of conduit private activity bonds, which are a common tool of capitalization in the national bond market. To clarify, Gallatin County has no liability exposure related to Bridger Aerospace’s business operations,” the county said in a statement.
Cohodes, however, told the Montana Free Press in August that Sheehy’s business is “going to go broke.”
Tester’s own campaign has since released a campaign ad claiming the company, which local residents in his state own stock in, is “failing,” the WSJ reported.
Sen. Jon Tester (D-MT) arrives for a Senate Appropriations Subcommittee on Homeland Security hearing with Secretary of Homeland Security Alejandro Mayorkas on “A Review of the President’s FY2025 Budget Request for the Department of Homeland Security” at the U.S. Capitol on April 10, 2024 in Washington, DC. (Samuel Corum)
Tim Sheehy stepped down as Bridger Aerospace CEO. (Tim Sheehy for Senate Campaign)
Sheehy’s campaign put out a statement following the report, saying that “there is low and then there is Jon Tester.”
“We know Jon Tester is losing and now the Wall Street Journal is pulling back the curtain on Tester’s brazen political warfare against a Montana business. Jon Tester is so desperate to continue his life as a career politician he is endangering the livelihoods of Montanans by trying to bankrupt the company his opponent started even though Tim Sheehy is no longer CEO,” the campaign said in a statement.
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Bridger Chairman Jeffrey Keltersays told the WSJ that Bridger “is a Montana company with 200 employees and a mission to protect lives and property, whose growth trajectory has been consistently great.”
