SunEdison at risk of bankruptcy, unit says; shares plummet 60 percent ($4.6b Taxpayer $)

Reuters ^ | March 29, 2016 | BY AMRUTHA GAYATHRI AND ARATHY S NAIR

[Oldeconomybuyer]

U.S. solar energy company SunEdison Inc, whose aggressive acquisition strategy has saddled it with almost $12 billion of debt, is at "substantial risk" of bankruptcy, one of its two publicly listed units warned on Tuesday.

A bankruptcy would rank among the largest involving a non-financial company in the past 10 years, according to bankruptcydata.com. SunEdison declined to comment.

SunEdison's shares - already reeling from a Wall Street Journal report on Monday that the company was being investigated for overstating its cash position - fell as much as 60 percent to a record low of 50 cents.

[Oldeconomybuyer]

No mention by Reuters this green turd received billions in ObamaCash.

[PROCON]

Well, the only reasonable option for a failed green boondoggle is to pour more tax payers dollars into it.

[poobear]

The grifters continue to rape us. Wtf are we going to do about it?

[Seruzawa]

Well, SunEdison has learned that Obama will get a bailout ready. There is no end to the bottomless money pit of Solar Energy.

[Svartalfiar]

U.S. solar energy company SunEdison Inc, whose aggressive acquisition strategy has saddled it with almost $12 billion of debt, is at "substantial risk" of bankruptcy, one of its two publicly listed units warned on Tuesday.

Sounds like a large part of the failure was buying other companies. Wonder who all they bought?

[scrabblehack]

Solyndra?

I guess the name ConEdison was already taken.