Evergreen Solar files for bankruptcy, plans asset sale

Aug 15, 2011 | Posted by: The Truth Matters | Full story: www.bostonherald.com

Evergreen, which closed its taxpayer-supported Devens factory in March and cut 800 jobs, has been trying to rework its debt for months.

Evergreen — hurt by lower-cost competition in China and plummeting prices for solar panels — also said it will cut more jobs — 65 layoffs in the United States and Europe, mostly through the shutdown of its Midland, Mich., manufacturing facility. That would leave Evergreen with about 68 workers according to a head count listed in the bankruptcy filing. To cut costs, Evergreen shifted some of its production to Wuhan, China, last year. That joint venture will remain operating subject to financing talks with Chinese investors.

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NobodyYouKnow

Toronto, Canada

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#1
Aug 16, 2011
 

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http://www.dpncanada.com/Site-Content/More-Ne...

"We identified Ontario as one of most dynamic renewable energy markets in North America, and we are pleased to participate with our value proposition, creation of jobs and contribution to Ontario's green economy," says Jan Dressel, Managing Director of Sovello Canada "

Guess Boston isn't a competitive environment for solar tech. China is certainly building more solar than most countries so it has more reason to have solar industries.

Given the dominance of the tea party luddites, it is not surprising for jobs to flee the US.
plume drecker

Bayonne, NJ

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#2
Aug 17, 2011
 
HEY WHAT DO YOU all EXPECT FROM LIB-ITE GRUB'S.

“dening those who deny nature. ”

Since: Jun 07

Norfolk va

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#3
Aug 18, 2011
 

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So much for all those "green jobs".
Dutch

United States

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#4
Aug 18, 2011
 
tina anne wrote:
So much for all those "green jobs".
Has nothing to do with green jobs........it's all about China undercutting prices .

“dening those who deny nature. ”

Since: Jun 07

Norfolk va

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#5
Aug 18, 2011
 

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Dutch wrote:
<quoted text>Has nothing to do with green jobs........it's all about China undercutting prices .
Just as china and other places have done before. The only difference is that many who defended the idea of man made global warming claimed that switching to these techs would generate jobs. The green jobs from making all this.
NobodyYouKnow

Toronto, Canada

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#6
Aug 19, 2011
 

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tina anne wrote:
<quoted text>
Just as china and other places have done before.
China competes for crap toys, raw materials and ship breaking. They do not compete in high paying technologies.

And if your claim was in ANY way rationale, Germany wouldn't be building solar panels in Ontario. Unless you want to claim that the US isn't 'competitive' with Canada..

The real problem is that the US is somewhat 'obsessed' with fossil fuels and fossil fuel subsidies. Only California and Texas seem to be able to penetrate the 'smog'.
tina anne wrote:
<quoted text>
The only difference is that many who defended the idea of man made global warming claimed that switching to these techs would generate jobs. The green jobs from making all this.
And there are lots of green jobs. Mostly in California, Ontario, Texas, etc. Stick a straw in the earth and MOST of the money goes to the guy who has the 'ownership' papers. Not many jobs per dollar spent.

Otoh, competetive alternative energies tend not only to be MOSTLY in high paying jobs but the infrastructure is LOCAL and cannot be 'offshored'.

“Happy, warm and comfortable”

Since: Oct 10

Mountain hideaway, SE Spain

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#7
Aug 19, 2011
 

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NobodyYouKnow wrote:
And if your claim was in ANY way rationale
So how do you spell 40, with or without a U?
Rational doesn't have an E at the end.
Rationale:
A set of reasons or a logical basis for a course of action or a particular belief.
Been to China have you

Bay City, MI

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#9
Sep 7, 2011
 
China may have competed for crap toys 10 years ago, but that isn't true now. They make li-ion batteries, electric vehicles, and oh yes, solar panels. The largest poly crystalline silicon production units are being built in China. Don't take your eye off the ball (China).

“Happy, warm and comfortable”

Since: Oct 10

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#10
Sep 7, 2011
 

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Been to China have you wrote:
China may have competed for crap toys 10 years ago, but that isn't true now. They make li-ion batteries, electric vehicles, and oh yes, solar panels. The largest poly crystalline silicon production units are being built in China. Don't take your eye off the ball (China).
Japan started out the same way making cheap crap tools, but now their tools compete with the best and they're still cheap.

Since: Jun 11

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#11
Sep 7, 2011
 
Earthling-1 wrote:
<quoted text>Japan started out the same way making cheap crap tools, but now their tools compete with the best and they're still cheap.
The problem with us Americans is our lack of math skills.

We all want low prices, high wages, excellent benefits and for the employers to pay our medical bills. Employers are also expected to pay all or some of these benefits to people that haven't produced a product in up to 2 decades, at times (talking about unions and their pension plans).

Nothing wrong with wanting all that, but we must realize it all costs money, and the money has to come from somewhere (remember the low prices part?). China, Japan and such countries are well poised to offer lower prices because they produce at lower costs, but I wouldn't want to be one of their workers.

At the low prices we demand, there simply isn't enough money available to pay for the benefits that we also demand. The math doesn't compute.

“dening those who deny nature. ”

Since: Jun 07

Norfolk va

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Sep 7, 2011
 

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Been to China have you wrote:
China may have competed for crap toys 10 years ago, but that isn't true now. They make li-ion batteries, electric vehicles, and oh yes, solar panels. The largest poly crystalline silicon production units are being built in China. Don't take your eye off the ball (China).
Sure, because the foolish have money and as P.T. Barnum once quipted that a fool and his money are soon parted.

Just because china is building it dosn't mean that they are big believer but just that there is a market for it.

History has seen the electric car, solar panels, other green dreams rolled out with great fanfare and in a decade each fell from grace and was left in the dustbin of history only to be pulled out several decades later and hailed as the savior and as something shiningly new.

Repeating mistakes and expecting different results is the mark of the foolish. Some things such as the electric car could be a success once the tech has been developed to make it so. But introducing it before the tech to make it a practical device is only dooming it to failure.

“Happy, warm and comfortable”

Since: Oct 10

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Sep 8, 2011
 

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Ngalungalu wrote:
The problem with us Americans is our lack of math skills.
We all want low prices, high wages, excellent benefits and for the employers to pay our medical bills. Employers are also expected to pay all or some of these benefits to people that haven't produced a product in up to 2 decades, at times (talking about unions and their pension plans).
Nothing wrong with wanting all that, but we must realize it all costs money, and the money has to come from somewhere (remember the low prices part?). China, Japan and such countries are well poised to offer lower prices because they produce at lower costs, but I wouldn't want to be one of their workers.
At the low prices we demand, there simply isn't enough money available to pay for the benefits that we also demand. The math doesn't compute.
It's good to know that someone has been able to work it out, well done.
I'm not good at maths, but that's just plain simple arithmetic that anyone should be capable of working out.
Gord

Calgary, Canada

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Sep 8, 2011
 

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Solar company that Obama visited will shut down

"The Chapter 11 filing, expected next week, will make Solyndra the third U.S. solar company to seek bankruptcy protection in the last month. Former Wall Street high flyer Evergreen Solar Inc filed for Chapter 11 two weeks ago, followed four days later by SpectraWatt Inc, a private company that was backed by Intel Corp."

"The announcement is the latest in a series of disappointments for Solyndra, whose fall from grace has been tracked closely because it received a $535 million loan guarantee from the Department of Energy in 2009."

http://www.reuters.com/article/2011/08/31/us-...

Nice to have that $535 million loan guarantee from the Department of Energy in 2009.

Isn't Green Energy great?

I'll bet the US Taxpayers are thrilled!

Since: Jun 11

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Sep 8, 2011
 

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Earthling-1 wrote:
<quoted text>It's good to know that someone has been able to work it out, well done.
I'm not good at maths, but that's just plain simple arithmetic that anyone should be capable of working out.
You're right, of course, but on the flip side... I don't think I'd prefer the alternative. Can you imagine having no minimum wages?

Back to the matter at hand though, Green energy is still ages from being viable, in terms of production. What's happening now is that we've opened ourselves up to con artists that say they have it all worked out.

I lost a lot of money on a company that promised to extract energy from any plant matter. I think the guys name was Herrera (don't quote me on it).

“The Truth Will Set You Free”

Since: Jun 07

Gainesville, FL

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Sep 8, 2011
 

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The saga continues:
FBI raids solar panel company hailed by Obama
http://www.washingtontimes.com/news/2011/sep/...

FBI agents on Thursday executed search warrants at the California headquarters of Solyndra LLC, which was awarded more than $500 million in federal stimulus loans in 2009 to make solar panels in what the Obama administration called part of an aggressive effort to put more Americans to work and end U.S. dependence on foreign oil.

FBI spokesman Peter D. Lee said multiple search warrants were served at the company’s Fremont headquarters in what he called a joint investigation by the FBI and the Energy Department’s office of inspector general. But he said he could not provide any details about the ongoing probe.
Sigmund

United States

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Sep 9, 2011
 

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tina anne wrote:
<quoted text>
Sure, because the foolish have money and as P.T. Barnum once quipted that a fool and his money are soon parted.
Just because china is building it dosn't mean that they are big believer but just that there is a market for it.
History has seen the electric car, solar panels, other green dreams rolled out with great fanfare and in a decade each fell from grace and was left in the dustbin of history only to be pulled out several decades later and hailed as the savior and as something shiningly new.
Repeating mistakes and expecting different results is the mark of the foolish. Some things such as the electric car could be a success once the tech has been developed to make it so. But introducing it before the tech to make it a practical device is only dooming it to failure.
Tina...your such a genius, it's people like you that would having us live in the 19th century because any new ideas or the threat of change scares you to death. Either that or your so far up the fossil fuel industries butt that whenever they fart you get a nose bleed.

“Happy, warm and comfortable”

Since: Oct 10

Mountain hideaway, SE Spain

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#18
Sep 9, 2011
 

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Ngalungalu wrote:
You're right, of course, but on the flip side... I don't think I'd prefer the alternative. Can you imagine having no minimum wages?
Quite easily, minimum wage wasn't introduced in the UK until 1999, 11 years after I retired.
Ngalungalu wrote:
Back to the matter at hand though, Green energy is still ages from being viable, in terms of production.
The green hopefuls don't realise that, yet, and some of them never will.
Ngalungalu wrote:
What's happening now is that we've opened ourselves up to con artists that say they have it all worked out.
There will always be con artists.
Ngalungalu wrote:
I lost a lot of money on a company that promised to extract energy from any plant matter. I think the guys name was Herrera (don't quote me on it).
I hope you learned a lesson.

“Happy, warm and comfortable”

Since: Oct 10

Mountain hideaway, SE Spain

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#19
Sep 9, 2011
 

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The Truth Matters wrote:
The saga continues:
FBI raids solar panel company hailed by Obama
http://www.washingtontimes.com/news/2011/sep/...
FBI agents on Thursday executed search warrants at the California headquarters of Solyndra LLC, which was awarded more than $500 million in federal stimulus loans in 2009 to make solar panels in what the Obama administration called part of an aggressive effort to put more Americans to work and end U.S. dependence on foreign oil.
FBI spokesman Peter D. Lee said multiple search warrants were served at the company’s Fremont headquarters in what he called a joint investigation by the FBI and the Energy Department’s office of inspector general. But he said he could not provide any details about the ongoing probe.
Sounds like some of the con artists that Ngalungalu mentioned might be involved.
Oh well, it's only taxpayer's money, there's always plenty more where that came from.

“dening those who deny nature. ”

Since: Jun 07

Norfolk va

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#20
Sep 9, 2011
 

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NobodyYouKnow wrote:
<quoted text>
China competes for crap toys, raw materials and ship breaking. They do not compete in high paying technologies.
And if your claim was in ANY way rationale, Germany wouldn't be building solar panels in Ontario. Unless you want to claim that the US isn't 'competitive' with Canada..
The real problem is that the US is somewhat 'obsessed' with fossil fuels and fossil fuel subsidies. Only California and Texas seem to be able to penetrate the 'smog'.
<quoted text>
And there are lots of green jobs. Mostly in California, Ontario, Texas, etc. Stick a straw in the earth and MOST of the money goes to the guy who has the 'ownership' papers. Not many jobs per dollar spent.
Otoh, competetive alternative energies tend not only to be MOSTLY in high paying jobs but the infrastructure is LOCAL and cannot be 'offshored'.
Germany is building them in Canade because it is cheaper than building them in Germany and it cuts down on transportation cost and time. After all you want to be first in line when it comes to fools and money. Texas is only into renewables because they have to have a certain amount in the power they sell california and california is where the loonest of the loony go in the US.

As for china they are into everything including making solar panels and wind generators along with a host of other products including arms which they well and ship all over the world. They are also steal patents and making copies of everything from electronic to drugs. If it is a money maker then odds are china is making it. It is ironic that many of those green jobs have ended up in china. AFter all they are one of the biggest producers of green products. In part because they worry less about the enviroment than anyone else.

The real thing that isn't able to "penetrate the smog" is your inablity to even realize that wind and solar still haven't solved thier most basic problem. That they are at the mercy of the weather. Neither is as new as you want to believe with wind being the older and going back centuries. Then wind was use to pump water, grind grain, and move goods around the world. But it was a on again off again thing. Solar is newer but even less reliable. After all a simple cloud can cut your solar power output and something like tropical storm can result in you sitting around the dark house as the water rises. Definetly not something you want to power that electric pump.

“dening those who deny nature. ”

Since: Jun 07

Norfolk va

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#21
Sep 9, 2011
 

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Sigmund wrote:
<quoted text>Tina...your such a genius, it's people like you that would having us live in the 19th century because any new ideas or the threat of change scares you to death. Either that or your so far up the fossil fuel industries butt that whenever they fart you get a nose bleed.
What new ideas. Solar, wind, man made global warming. Nothing new with any of them. The last global warming scare was back in the fifties, Shortly before the solar panel really started to make advances. It was tried like they want to try it now back in the seventies. Even the White House had solar panels. Wind goes back centuries but the last time they tried it as a renewable it flopped as well.

How can I be scared of your new ideas when you have yet to have one. Lets here something new. Because all I hear is the same old bull. Even the fossil fuel industry one is a old one. Usually used when someone hasn't anything better to say but wants to feel like they did something. Of courfse to me it is a sign that the other person is loosing and most likely not well educated but well indoctrinated and usually quite young.

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