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Evergreen Solar (ESLR -57.6%) has finally bitten the dust. The solar panel maker, whose shares...

Evergreen Solar (ESLR -57.6%) has finally bitten the dust. The solar panel maker, whose shares reached lofty heights prior to the financial crisis on optimism regarding its String Ribbon wafer technology, has filed for Chapter 11, as strong Chinese competition and slumping European demand prove too much to cope with. (PR) (previously)
Comments (13)
  • SA reader
    , contributor
    Comments (176) | Send Message
     
    Another CNBC failed "buy" recommendation.
    15 Aug 2011, 04:25 PM Reply Like
  • Joe Morgan
    , contributor
    Comments (1500) | Send Message
     
    Green energy, baby!!
    15 Aug 2011, 04:29 PM Reply Like
  • youngman442002
    , contributor
    Comments (5131) | Send Message
     
    Hype, hype, and more hype..or was that hope and change???
    15 Aug 2011, 04:31 PM Reply Like
  • Conventional Wisdumb
    , contributor
    Comments (1802) | Send Message
     
    Yes We Can! Fail!

     

    Any dummy can sell a dollar for 50 cents but it takes an entrepreneur to turn it into $2. Crony capitalism, subsidies, and global warming fraud can only take you so far.

     

    Wondering if the President will be touring this plant again. Heck I wonder if any company other than those on the government teat will invite him to visit - everywhere he goes things shut down.
    15 Aug 2011, 04:36 PM Reply Like
  • Dana Blankenhorn
    , contributor
    Comments (5690) | Send Message
     
    Evergreen failed because Evergreen was stupid. There are always stupids in leading technologies. But that doesn't imply their technologies are bogus.

     

    And it's silly of cavemen to dismiss farming as a fad.
    15 Aug 2011, 04:48 PM Reply Like
  • wirenutrob
    , contributor
    Comment (1) | Send Message
     
    I don't think they are out of the game totally. I plan to watch there company and see their restructure. maybe even buy some stock in the future. It can only go up from here.
    19 Aug 2011, 04:32 AM Reply Like
  • dividend_growth
    , contributor
    Comments (2878) | Send Message
     
    "And it's silly of cavemen to dismiss farming as a fad."

     

    They also dismissed electric light bulbs because kerosene lamps were so much more superior!
    15 Aug 2011, 04:56 PM Reply Like
  • Dana Blankenhorn
    , contributor
    Comments (5690) | Send Message
     
    Yeah, they couldn't compete in wattage with limelight either. And who could argue against curtains made of asbestos? A huge advance.

     

    Actually my favorite from the 19th century is the music player. A friend has one of those old timey ones that you wound up and played huge metal disks through pins. It had a much louder sound than the phonographs of that era.
    15 Aug 2011, 05:12 PM Reply Like
  • dividend_growth
    , contributor
    Comments (2878) | Send Message
     
    Speaking of solar, it will have great future in a few years once generation cost falls to grid parity and storage problem has finally been solved.
    15 Aug 2011, 05:04 PM Reply Like
  • Dana Blankenhorn
    , contributor
    Comments (5690) | Send Message
     
    Those problems are being solved. Very quickly They have already been solved in the labs of (among others) MIT, and it's just a matter of ramping up production.

     

    First Solar is already producing cadmium telluride thin film at $1/watt. The reason it costs more is simply distribution and complex installation. But BIPV products are coming on-stream that can eliminate most of those costs, although right now their power output isn't fully competitive.
    15 Aug 2011, 05:13 PM Reply Like
  • Herr Hansa
    , contributor
    Comments (3079) | Send Message
     
    This is the only stock in which I have taken a loss. The management made numerous errors from which they never recovered. At the very least, I only had a small position, so other gains this year easily offset the difference.

     

    The technology and the patents are what are likely to sell. Even the Chinese subsidized a licensing deal for Jiawei Solar to produce String Ribbon wafers. About the only footnote of interest left will be to see what companies buy the patents.
    15 Aug 2011, 05:05 PM Reply Like
  • Dana Blankenhorn
    , contributor
    Comments (5690) | Send Message
     
    You are to be commended. You know I once lost money on Apple Computer? Really. During the 1990s. So if this is your only loser you deserve many followers indeed.
    15 Aug 2011, 05:14 PM Reply Like
  • Herr Hansa
    , contributor
    Comments (3079) | Send Message
     
    The indicator for me to punch out on this one was an SEC filing about a month ago that indicated they had relinquished a contract agreement with one of the major wholesalers, freeing that other company of the previous contract to purchase panels in 2012. I felt that was a bad enough change that there was little hope left. Here is a great example of the financial mismanagement, now listed as an "Asset" in their bankruptcy:

     

    "Lot 1 – LBIE Assets: Seller's claims against Lehman Brothers International Europe and Lehman Brothers Holdings Inc. arising out of (i) the Share Lending Agreement between Lehman Brothers International (Europe) and Seller, dated June 26, 2008, and (ii) Guarantee of Lehman Brothers Holdings Inc. of the Share Lending Agreement between Lehman Brothers International (Europe) and Seller, dated June 26, 2008."

     

    Add to that they had a major investment in Sovello in Germany. That resulted in a huge write-down when Sovello failed. If they had stuck to their core business instead of bizarre swaps arrangements and investing in other companies, then maybe they would not have arrived at this point. Management, not technology, failed Evergreen Solar.
    15 Aug 2011, 09:26 PM Reply Like
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