Friday, July 12, 2013

Curse You, Capitalism!

Brad_in_MA sends in yet another Green Energy Success Story™...

Solar equipment maker Spire removed from Nasdaq
Spire Corp. (Nasdaq: SPIR), a developer of solar photovoltaic equipment and systems and biomedical processing services, has been delisted from the Nasdaq.

The delisting comes after the company received a notice from the Nasdaq Stock Market (Nasdaq) advising the company that the bid price for the company’s common stock had closed below the $1 per share minimum required. The company was given 180 days to regain compliance and then in December 2012 the company was given another 180 days or until June 24, 2013 to show compliance. The company did not regain compliance and on July 5, 2013, the company was officially delisted from the Nasdaq.
I know, I know. YASF. Yet Another Solar Failure. You'd think with all this global warming, what, with the sun being ZOMG HOTTER and whatnot, and with the ZOMG OZONE HOLE, that there would be more than enough solar power to go around. Companies should be making money hand over fist with all the free sunlight, right?

What is this, like the tenth? Fifteenth? alternative energy company that has gone teats-up in the past five years? You'd think that after a while, after watching alternative energy company after alternative energy company charge headfirst over the bankruptcy cliff, the remaining lemmings would get the hint and put their money into something more stable, like tulip futures. Then again, when you can get millions of taxpayer dollars just for putting "Solar" in your company name ("Jay G.'s Solar Gun Shop"!), why not, right?

Obviously producing a product that people, you know, actually want to buy isn't part of the business plan here...

That is all.

3 comments:

Bubblehead Les. said...

So how can we have a Solar Nation when there's no Solar Panels to replace all the Coal Plants that are being shut down even as we speak?

So what happens when there's not enough Juice to run all the Espresso Machines in Mid-Town Manhattan and the A/C is turned off in the DC Gooberment Buildings?

Schadenfreude!

Dave H said...

I'm not sure the problem with the solar power industry is with solar power. I think it's with business plans that read something like:
1) Start solar company
2) Get government money
3) ???
4) Profit!

You want money for nothing, learn to play the geetar. (I understand the chicks are free.) You want a business, learn to make your money by actually selling a product. Preferably one that works.

I think solar will get there, but terrestrial solar will never be a "shut 'em all down" replacement for fossil and nukes. Now orbital solar, where power is beamed down from space as microwaves, that's a different story. More expensive to build, but the sun doesn't set in space. (Unless you're in the wrong spot.) It's also something that could be attractive to private space entrprises, since it involves regular visits to orbit for installation and maintenance. The technology to do that is coming along nicely.

Stretch said...

Jay, Jay, Jay.
Going bankrupt IS their business plan.
After getting all that nice tax payer money they write off their debts, make their obligatory bribes (a.k.a. campaign donations), and fade off into the sunset to visit what was once our money.
It is an EXCELLENT business plan and has worked very well over the past 5 or 6 years.