Investor Alert

April 8, 2020, 9:44 p.m. EDT

Ex-Navy secretary's ill-fated trip to Guam cost taxpayers more than $240,000: report

The speech that cost former acting Secretary of the Navy Thomas Modly his job also cost taxpayers nearly a quarter of a million dollars, USA Today reported Wednesday. Last weekend, Modly flew to Guam, where he gave a profanity-laced speech to the crew of the USS Theodore Roosevelt and called the aircraft carrier's former captain "stupid" after the captain's plea for help for his coronavirus-stricken ship was leaked to the press. Modly was forced to apologize, and resigned Tuesday under a firestorm of criticism. Citing a Navy official, USA Today said Modly flew a Gulfstream 550 jet on the 35-hour round trip, at a cost of $6,946.19 an hour. That would total $243,116.65. In a statement Wednesday, Adm. Mike Gilday, the Navy's chief of operations, said the past week has been "difficult" but "make no mistake, we are moving forward."

Link to MarketWatch's Slice.