Posted on 03/30/2016 9:20:40 AM PDT by Twotone
SunEdison, which bills itself as the world’s largest green energy company, may soon file for bankruptcy protection, according to a recent Securities and Exchange Commission filing, as the company faces “liquidity difficulties” despite getting millions in government subsidies.
(Excerpt) Read more at thegwpf.com ...
These guys cannot even survive on government welfare. I guess they haven’t learned the value of not milking the cow until you kill it.
“Another one bites the dust.”
...another Odungo failure
YES. I love it when crony capitalists fail. It embarrasses them, politicians, and asinine governments involved.
Its like I LOVE how Venezuela is turning prehistoric in real-time.
It shows there ARE consequences.
I think GE is bigger and they’ve made some 20,000 wind turbines worth over 20 billion dollars.
Probable the “green” jobs will be lost as vendors are not paid. Likely that the equipment fabricated will be auctioned for an ‘nth’ of what it cost...or sold for scrap. And what if the real estate that will languish.
The repercussions are yuge. But some will have done quite well as the political contributions groomed from the winners is funneled back to the officials who allowed the project to happen and sold it to...ahem...’the people’. HA!
Who has to vote themselves a payraise?
These guys cannot even survive on government welfare. I guess they haven’t learned the value of not milking the cow
Oh, they milked the cow. I bet they had lavish paychecks and lifestyles while it lasted. A few fast million thrown into your personal investments....hummmmmm.
And no one will be held accountable.
Government subsidies make no sense for emerging technologies. If they had any promise, the private sector would fund them, and expect them to produce effective technologies.
No.
Millions of taxpayer dollars paid to politically connected, corrupt thieves.
Look at the Solyndra model.
The Chicago Mob comes to DC and delivers as expected.
(with a fully supportive media, why not?)
I’ll beet a lot of that $650 million went to generous bonuses for the higher ups in the corporation.
The smart money insiders sold out when the stock was 30 a share. It is now .4.
How many millions of tax payer dollars are they taking down with them?
AND how much in ‘kickbacks’ did the creeps pay in ‘speeches’ for our corrupt Congress people?
Hey you idiots at the Washington Post... check it out... how much did these people “DONATE” in all forms to Democrats in Congress.
What the rest of us call BRIBES.
Stock was over $30/share in July 2015.
Today is trading at around $0.60/share.
Zacks story on SUNE mentions “misappropriations of certain accounting practices” as being the reason why the company is seeking permission from the SEC to delay filing of its 10-K form.
Stuff you don’t hear about in the mainstream press. Especially how much Obama threw down the toilet to fund it with our money.
Check out their “Wharton School Camel Jockey President’s” compensation:
http://www1.salary.com/Ahmad-Chatila-Salary-Bonus-Stock-Options-for-SUNEDISON-INC.html
Isn’t all this “immigration and diversity” great! Come to the USA, get an education, and screw your newfound country to the tune of a $billion!
The politicians got there kickbacks they could care less
The Federal Government is the new Mafia
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