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  • project2069 project2069 Mar 13, 2013 4:45 PM Flag

    Off topic: Chinese Suntech Power Holdings (STP) imploded today.


    Many believe a bankruptcy filing is imminent, $541 million bonds are due at the end of the week, and they announced that they were shuttering their Arizona manufacturing facility.

    Sentiment: Strong Sell

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    • They pretty much took the whole Chinese solar sector with 'em this afternoon.

      I am interested to see whether they actually do take them into bankruptcy. That's a rare occurrence in China, for reasons I've noted before. They do need to eliminate some capacity there, though, for the general health of the sector.

      • 1 Reply to china_s2
      • Suntech may be a survivor in some format, but they will shed US operations and US shareholders along the way. You will see this theme played out a lot this year where Chinese companies with big government backing there wipe out US shareholders and re-emerge in China as leaner operations.

        I have been warning you the same thing will happen to CBAK. They will be defaulting on their debt soon. They won't survive the year. I should rephrase that... US shareholders won't survive the year. That is another company that won't disappear, just their US presence.

        You people really need to understand that the prospects for common shares are a completely different thing than the prospects of a company. Shareholders get wiped out all the time while financiers and owners "steal" all the assets.

    • What is the ticker?

      Sentiment: Hold

0.0410.000(0.00%)Dec 30 3:47 PMEST