Spain's Solar Green Energy Giant About to Go Bankrupt

[EagleSmack]

What timing!

Bankruptcy Looms For Spain's Green Energy Giant : Parallels : NPR

Spain's biggest renewable energy company is on the verge of becoming the country's biggest-ever bankruptcy.

Without government subsidies they are going to collapse taking billions with them... possibly the entire Spanish Banking Industry.

 

[AnnaG]

Seems more like a mismanagement problem and lack of foresight than a failure to provide services. It will end up being bought out and reformed.

 

[EagleSmack]

Seems more like a mismanagement problem and lack of foresight than a failure to provide services. It will end up being bought out and reformed.

Who do you think has the funds to buy them out?

 

[Mowich]

Who do you think has the funds to buy them out?

Maybe someone among these folks might be interested.

The Top 25 Richest Millionaires & Billionaires Giving Away Their Money To Make This World A Better Place | Addicted 2 Success

 

[EagleSmack]

Maybe someone among these folks might be interested.

The Top 25 Richest Millionaires & Billionaires Giving Away Their Money To Make This World A Better Place | Addicted 2 Success

I wonder.

If they are giving the money away and do not expect any return whatsoever it may be a good investment for them. Our last governor thought Massachusetts taxpayer money ($600K) was a great investment to Evergreen Solar even though they went bankrupt. When questioned afterwards he said it was a good investment and given the chance he'd do it again.

 

[AnnaG]

Who do you think has the funds to buy them out?

Bigger companies. Combinations of investors and entrepreneurs.

Maybe someone among these folks might be interested.

The Top 25 Richest Millionaires & Billionaires Giving Away Their Money To Make This World A Better Place | Addicted 2 Success

Cool

 

[petros]

Is it a money maker?

 

[Tecumsehsbones]

Is it a money maker?

Is FedEx?

 

[EagleSmack]

Bigger companies. Combinations of investors and entrepreneurs.

The Spanish Government bankrolled them with EU bailout money. The US pledged *snicker* $1.4 Billion ($2 Billion by another source) in loans.


Pledged... there's that word again.

Oh and bond holders are holding more than $5 BILLION in debt. Banks total exposure equals $21 BILLION!


GREAT INVESTMENT!

 

[AnnaG]

Like I said, it will likely be acquired by someone or something else and REFORMED.

Actually, as far as that goes, Gates' personal fortune is worth some $80 billion. The 10 wealthiest families on the planet are worth over half a trillion. The 50 wealthiest companies on the planet are worth $108 billion and higher. $21 billion is as a cupful of water in a bathtub of water. And banks usually will settle for a percentage of the value owed anyways.

 

[EagleSmack]

And continue to lose billions.


I don't think Gates and Zuckerberg (for example) will be dumping millions into that money pit.

 

[Ludlow]

What's that corny azz old cliché, we don't plan to fail we just fail to plan. Even when building a simple structure a set of blueprints is required in most places. You can shoot from the hip sometime but you might end up "building a boat in the basement", Sorry had to put that corny azz cliché in too.

 

[AnnaG]

And continue to lose billions.

That would depend. Chrysler paid Iaccoco a handsome sum for getting it out of the red and into the black. It worked.

I don't think Gates and Zuckerberg (for example) will be dumping millions into that money pit.

Probably not but I bet some outfit will salvage it. I cannot see the banks swallowing the debt so if no-one steps up immediately, it will be discounted.

 

[EagleSmack]

Well we will see. Perhaps someone will buy it for the scrap for pennies on the dollar.

 

[AnnaG]

Perhaps lots of things could happen.