About that Solar Power…
One of the larger players, in China no less, so loads of low cost labor, declared bankruptcy:
STP 5yr Weekly bankruptcy 20Mar2013
Not much to say, really. First Solar got a bit of boost on the expectation of less competition. Mostly, though, it just says that those solar makers, even in China, do not have a very strong lock on profits…
Down almost 9% today alone. Now trading at 58 cents / share.
Live one year chart:
STP live 1 year daily chart
Don’t expect to see that chart for long. Shortly after bankruptcy, the “ticker” changes or just ends.
That is great news E.M. Smith, if no public funds were invested.
With no reasonable expectations of tax subsidies to mine, the market is done for another 30 years.
wow!
12 months ago …
“Suntech Power Ltd, Chinese solar energy giant and the world’s biggest producer of crystalline silicon solar panels, has received the Murphy&Spitz Global Leader Award for 2011, for achieving excellence in environmental and sustainability standards in the photovoltaics industry.”
more … http://www.energymatters.com.au/index.php?main_page=news_article&article_id=1374
Gee, you just can’t beat physics! When Rahm Emmual told GM engineers they would have to design a car to make 54 mpg by 2016 they laughed and told him he was violating the laws of physics. He went into a shaking rage, stamping his feet saying, “We write the laws!” and stormed from the room. When GM goes bankrupt this time no one will save them.
See The Two Minute Conservative at: http://tinyurl.com/7jgh7wv and when you speak ladies will swoon and liberal gentlemen will weep.
@Sandy Mcclintock:
Makes you wonder how all those 20 year warranties are doing… How many projects were built (or are being built) with the “world’s biggest” product and a nice warranty card in a drawer…
http://www.greenchipstocks.com/articles/suntech-nysestp-solar-bankruptcy/2140
From last October…
$2.3 Billion. About 1/2 the “Haircut” amount in Cyprus… Wonder who is holding that debt and getting wiped out…
Invest With Australian of the Year Tim Flannery turn your Investment from $2 a share to 9c http://bigcharts.marketwatch.com/quickchart/quickchart.asp?symb=au%3Agdy&insttype=&freq=2&show=&time=13
Green and bankruptcy go hand in hand. There is 3 times more production capacity than demand. So prepare for more manufacturers to go belly up.
E.M.Smith says:
21 March 2013 at 3:22 am
“$2.3 Billion. About 1/2 the “Haircut” amount in Cyprus… Wonder who is holding that debt and getting wiped out…”
I guess Chinese government-controlled banks; some more bad loans to be written off.
It´s a SOLAR MINIMUM! WOW!