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SUNTECH POWER HLDGS Message Board

  • ankara1967 ankara1967 Mar 17, 2013 11:58 AM Flag

    Conspiracy against SunTech..

    What a coincidence that right after Suntech is forced to close its only facility in the US that you start seeing positive and optimistic articles about the future of solar in America and the world! Whoever pulled this off, they did an excellent job pressuring SunTech from all angles naked short selling, tariffs for Suntect products, negative articles about SunTech in the media for the last few years etc..

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    • I totally agreed

    • The more I think about this whole thing it becomes more clear. SunTech has been the world leader in this technology, which seems the whole world is trying to implement. America has been in technological decline in the recent years due to widepsread corruption in Wall Street (hedge funds etc) and politics (waging constant wars all around the world under pressure from certain lobbies) . For America the only way out is to acquire the company. For this, they have to force the company to bankruptcy to be able to get pieces of the company and technology. Of course the Chinese are resisting and they are trying to keep the technology in China and will probably transfer all technological assets to local goverment there. I think this theory makes sense as it explains why the bond holders are insisting on bankruptcy and don't want an agreement. I would appreciate your insights...

      • 1 Reply to ankara1967
      • It sounds like you are more into conspiratorial politics than sound financial analysis. As others have noted, take a look at the corruption that characterized STP finances. The management team clearly enriched itself. If anything, this was in collusion with corrupt Chinese bankers and government personnel...as opposed to the American government directing Wall Street to destroy the Chinese solar industry. Sorry, but this kind of conspiracy theory nonsense always makes me laugh.

        :)

        American private and government arms continue to lead when it comes to innovation, capitalizing opportunities, and scaling. Fracking? Mobile computing? Solar manufacturing? 3D printing?

        Chinese companies actually buy solar production equipment from companies like GTAT. Again, the means of production in this area are actually owned by American and other Western companies.

        I got out of STP many years ago. I actually rode it from single dollars to some $45 or so. I didn't invest a lot to begin with, but the valuations got too high...and to be honest, I just don't trust the Chinese government & corporate culture. I'm not saying we're saints in the West, but at least we have watch dogs who get paid money to uncover book cooking...which works effectively enough.

        I got out of all solar, except for GTAT. At least it makes a profit, has cash on hand, and a PE of 3.x. It's a real company, governed by real market forces...and should do very well if the solar industry doesn't totally collapse, which I admit is a possibility.

        Anyways, I'm staying out of China, especially solar. You can only go so far using cheap labor, mass manufacturing, dumping, and government subsidy tactics.

        Finally, dismiss the US at your own risk. Chinese cheap labor based manufacturing faces a day of reckoning. Emerging American energy independence in an era of peak oil + 3D printing will probably crush the Chinese paradigm...forcing the Chinese to innovate and play fairly. Only then will I get back in China.

    • Are you serious? You don't think their poor performance has anything to do with being poorly ran and mismanaged? If anyone did have the power and influence that you described above they wouldn't waste it on a self destructing company like STP. Dont get angry bc you speculated on a highly leveraged company in a over supplied sector and lost. Thats the risk you take so deal with it.

      • 1 Reply to mramerica10
      • Lol, Ankara you are a clown. The company was run by a #$%$ (Dr. Shi), and it was smoke and mirrors. They LITERALLY faked 500 million in collatoral bonds that didn't exist and then moved that money to private enterprises. Your talk about "leading technology" is a joke. This is China, they copied and then overproduced. They were the largest becuase they were dumping in the EU. The company WAS subsidized by the stateowned banks but now that there is oversupply Beijing realizes it needs to consolidate. Easiest way to do that is BK STP, therefore not paying foreign creditors, and then take it over and merge it with others.

 
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