Posted on 24 March 2013. Tags: Bankruptcy, China's, Does, giant, Just, Near, Solar, Suntech, Year
By Bill Savadove, AFP News,
China’s Suntech has made a painful journey from being the world’s largest solar panel producer to flirting with bankruptcy in just a year, highlighting the woes of the industry it shaped.
Oversupply as Chinese producers flooded the market and trade disputes over alleged Chinese dumping caused a sudden and spectacular reversal of fortunes for Suntech, which has defaulted on repayments for a $541 million bond issue.
The board ousted the company’s renowned founder just days ago after 12 years in which he led it from nothing to world market domination and now to the edge of ruin, leaving it scrambling to secure new funding and hold creditors at bay.
The global solar industry has been burned by the economic slowdown in Europe and the United States, together with weak prices blamed on Chinese companies which sought to build market share by under-cutting competitors.
The European Union and United States last year targeted Suntech and other Chinese solar panel and cell makers, accusing them of selling their products at below cost and receiving “unfair” government subsidies.
Suntech, a private company, denied the allegations but made no secret of its aim to keep prices at rock bottom, which it said made solar energy available to more people. Analysts said Suntech’s business model, deliberately pushing down prices to capture larger market share despite narrower profit margins, contained the seeds of its own destruction.
“What (Suntech) has done is increase supply to the market so much, that they really almost can’t sell anything at a profit now,” said Ben Cavender, associate principal of China Market Research Group (CMR) in Shanghai.
Suntech recorded a net loss of $1.0 billion in 2011, from a profit of $237 million in 2010, according to company filings. The firm has yet to report financial results for 2012.
Once an investors’ darling, its New York-listed shares have plunged from a high of $90.00 in early 2008. They closed down 7.81 percent at $0.59 in New York on Tuesday. “It is going to be difficult for them going forward,” Cavender added. “You might end up seeing a very different company down the road.”
Suntech said earlier this month it would shut a manufacturing plant in the United States in a bid to “rationalise” production capacity.
China’s National Business Daily on Tuesday quoted an official in the eastern city of Wuxi, where the firm is headquartered and employs 14,000 people, as saying it would undergo restructuring under bankruptcy proceedings.
Analysts said Suntech faced a problem common to Chinese private firms, growing rapidly in the country’s economic boom but becoming unwieldy and unmanageable as it turned into a vast corporation.
“Suntech, as a private firm, went too fast in its expansion,” said Liu Wenping, a partner in Shanghai-based solar investment consulting firm Sapphire Capital.
“The founder, with the role of scientist-entrepreneur, didn’t have the experience to manage such a big company with tens of thousands of workers.”
Suntech’s founder Shi Zhengrong — listed as one of China’s richest people by the independent Hurun Report last year, worth $476 million — was ousted as chairman earlier this month. He called the move “misconceived and unlawful” in a statement, vowing further action.
While more than 60 percent of Suntech’s bondholders have given the company a two-month extension for payment, some are planning to sue to recoup their investment, Dow Jones Newswires reported.
The default could cause foreign investors to sour further on China, after a string of accounting scandals involving Chinese firms listed in the United States and other overseas markets, analysts said.
US equipment giant Caterpillar recently revealed that it had found fake accounts at a Chinese firm it acquired for more than $650 million last year, in another cautionary tale for foreign investors in the hugely promising market.
“Looking at a Chinese company as a potential investment, you really have to be a little more cautious and decide whether the investment look
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Posted on 24 May 2012. Tags: bird deaths, giant, governments of the world, Media, meteor showers, moons orbit, record drought, record earthquakes, Rogue, sink holes, solar flares, Space, subterranean facility, surface, weather record
WTF is ging on!!!!!
how can you be in denial of the facts
nothing but facts, after this first post it gets more into speculation.
Weather
Record Tornadoes
Record drought
Record volcanoes As many in one year now, as what use to be a decades total.
Record earthquakes
Record crop devastation
Floods
Tides are rising, and the moons orbit is off.
solar flares
pipelines all across the country ruptured
Meteor showers increasing.
Magnetic poles are shifting faster and faster
The Solar activity of the sun has changed dramatically
Cosmic ray intensity has increased dramatically
Bees are disappearing, and they navigate using a solar compass
Mass fish die offs
Mass bird deaths.
New fault lines awakened in Virginia, & Nevada to name a few.
Giant sink holes opening up all around the world.
The surface of the earth actually creating giant rips in the earths crust on the surface for all to see.
New geysers seen venting in California.
What sounds like horns blowing recorded in florida, Russia, etc.
The smells of sulfur or fuel being reported in many areas of the world, the latest reports in California.
Disturbances in our solar system with storms on Jupiter increasing, Saturn being altered.
What’s the Governments of the world doing?
Storing massive amounts of Meals read to eat
Sucking up massive amounts of medication, and pharmaceuticals
Digging under ground bunkers around the world at a world record setting pace
Trillions of dollars dissappearing both from the pentagon, and the from the Federal Reserve.
Governments practicing detainment techniques.
CIA has relocated it’s headquarters to Denver
Denver world airport has been turned into a giant subterranean facility.
Denver has the biggest underground water treatment and purification center.
EPA starts closing down it’s library network.
GLobal Seed Bank built
Bush buys 98,000 acres in paraguay Father already owns 200,000
Hr5122 bypasses the forbidence of US troops operating on US soil
In 2001 264 dams needed repair, in 2009 over 1,200 damns across america are in need of repair, and the elites are no longer worried about infrastructure.
South Pole Telescope built with infrared capability
NSPD-51 Gives power to the president to take over complete and total rule
July 2007 Vatican closes library that has been opened for over 500 years.
Dutch are preparing for catastrophe, and apocalypse.
2008 3rd infantry’s deployed 6,000 us troops on US soil
2011 Space rocks and asteroids are now classified top secret
Climategate was used as an explanation of what is happening to the earth, as the changes became more magnetic in nature, it was switched from global warming to climate change.
Yellowstone National Park has been having thousands of earthquakes.
Chemtrails have been blanketing the earth containing barium, Barium is used for radiation shielding.
Constant media blitz in order to keep the people occupied with one big story after another.
Increasing number of shows are now about survival.
Media black outs on comet information. Anyone remember the Media hype about Haley’s comet
Google has blocked out a large area in space next to the constellation of Orion.
Fema Camps built
Mass coffin storage in Georgia.
The propping up of the stock market, at any cost, and any expense, even if it is open fraud!
And the latest suspension of the constitution, executive orders, NDAA, millions of hollow points, etc. etc.
Posted in Affiliate Marketing 101
Posted on 14 May 2011. Tags: giant, giant squid, niche, Squid
What is the niche of a giant squid??????
What is the niche of a giant squid??????
What is the niche of a giant squid??????
What is the niche of a giant squid??????
What is the niche of a giant squid??????
What is the niche of a giant squid??????
What is the niche of a giant squid??????
What is the niche of a giant squid??????
What is the niche of a giant squid??????
What is the niche of a giant squid??????
What is the niche of a giant squid??????
What is the niche of a giant squid??????
What is the niche of a giant squid??????
What is the niche of a giant squid??????
What is the niche of a giant squid??????
What is the niche of a giant squid??????
What is the niche of a giant squid??????
What is the niche of a giant squid??????
What is the niche of a giant squid??????
What is the niche of a giant squid??????
What is the niche of a giant squid??????
What is the niche of a giant squid??????
What is the niche of a giant squid??????
What is the niche of a giant squid??????What is the niche of a giant squid??????What is the niche of a giant squid??????What is the niche of a giant squid??????
What is the niche of a giant squid??????What is the niche of a giant squid??????What is the niche of a giant squid??????
What is the niche of a giant squid??????
What is the niche of a giant squid??????
What is the niche of a giant squid??????
What is the niche of a giant squid??????
What is the niche of a giant squid??????
v
Posted in Affiliate Marketing 101
Posted on 02 March 2011. Tags: affiliate programs, foreign tax, giant, queries, search engine, tax identification number, working from home
I’m working from home on Affiliate programs and now I am now going to be involved with posting ads on a search engine giant. I have been asked me for my Foreign Tax Identification Number. What is this? Does it mean the PAN Card number? Also, how authentic will it be to provide the same?
Thank you.
Posted in Featured Articles