After all these years, the time is now.
When “coyote medicine” is afoot according to Native American tradition, even a scoundrel can be the bearer of a great gift. I hope to prove that point through the following story.
It began for me in 2006 when I became an investor in Bluenergy Solarwind, a startup green energy company. President Joel Goldblatt had been the founder of another successful solar company, Solaria Corporation, and the moment I saw the design for the solarwind turbine, I recognized an extraordinary potential.
Cut to September 21, 2012, the date when a man named Daryl J. Hudson III was convicted in the United States District Court in Albuquerque of seven counts of wire fraud. In the world of entrepreneurs turning over every rock in search of financing, there are many predators seeking self-serving “arrangements.” Hudson had falsely proposed to secure $80 million in debt funding for Bluenergy. As a result of Joel Goldblatt’s due diligence, that scheme secured a guilty verdict in what must be one of the most efficient trials on record.
To make a very complex story short, Joel has a gift for understanding the uses of technology and is a master of detail. He kept a meticulous record of his communication with Hudson and even taped their conversations on his computer. New Mexico is a “one-person” state in this regard. In other words, if one person consents to the taping—the one who is doing it—then it is legal. This is something everyone should know.
Another important point: There are codes in the computer that can be downloaded to prove exactly where each email goes. As a result, through Joel’s email, their codes, the taped conversations (six and one-half hours total), and extensive documentation, he had collected an impeccable record of Hudson’s scheme. When Hudson conveyed a falsified Federal Reserve “safe keeping receipt,” Bluenergy Solarwind’s attorney contacted the U.S. Attorney’s office in Albuquerque. By June of this year, the case had been investigated, and Hudson was indicted on seven counts of fraud.
The trial began the week of September 17, and surrounded by five notebooks full of material, Joel was on the witness stand all day long every day for three days. It must have been extremely taxing, but knowing how he excels in the face of a barrage of questions by would-be investors, I suspect that he also enjoyed it a bit. And coincidentally, he was repeating a bit of family history. The testimony of Joel’s grandfather in a murder/ransom trial back in the 20s also figured in a conviction. The elder Goldblatt owned a typewriter company and was able to identify the machine on which the ransom note had been written, even though the typewriter had been destroyed. The murderers committed federal fraud by mailing the ransom note. In the recent case, Hudson committed federal fraud by email.
This trial has been very distracting during a critical time for Bluenergy Solarwind, because the company stands on a new threshold. The economy was just about to go into free fall when Joel launched back in 2006. It’s been quite a slog ever since, but he has signed up 42 investors so far. This funding has supported the evolution of the company into one that will have a much larger presence in the market than originally conceived and a higher value to a wide range of customers.
It still includes the solar wind turbine, now with 125 patents behind it, whose innovative design has been refined by engineers at TEAM in Albuquerque and tested in the wind tunnel at Texas A&M University. In addition, Bluenergy Solarwind can now also provide solar-thermal equipment to heat water and air and has in development a unique controller that can collect data on all kinds of green technology, manage its use, and guide its repair.
My favorite part of the picture is still the turbine itself, which has been optimized quietly to produce power with winds from 8 to 15 miles per hour. I wasn’t the only woman who responded to its sculptural appeal and recognized the role it could play in a new world of cleaner energy. We were all there as investors at the very beginning, and we are the top six of the seven who have invested the most in Bluenergy Solarwind.
When Joel told me about the Hudson trial, the role he had played seemed to be a matter of special significance in the history of the company. He agreed to my proposal to share the story here for one specific purpose, the possibility that it might tip the balance in behalf of an accelerated flow of investment.
Joel has several individuals whose pens are literally suspended over checks they are willing and able to write but for a matter of timing. They are waiting for a sign, waiting for someone else to go first. Bluenergy Solarwind is like a runner, tense at the starting block, the winner-to-be waiting for the gun to go off. The person who pulls the trigger will never be forgotten by the pioneer ladies. After all these years, the time is now.
So I’m hoping this post, inspired by Joel Goldblatt’s starring role in putting a scoundrel behind bars, will somehow reach that mystery investor. It will prove that coyote medicine is, in fact, afoot, that the trickster who would have stolen has become instead the agent of bounty. It is a story that really strikes my fancy, and I hope someone very special likes it too.
Joel Goldblatt can be reached at (575) 770-5110 or Joel@BluenergyUSA.com.