Friday, September 30, 2011

Solar Fire Sale: "Intel-backed SpectraWatt sold! . . . for $4.9M" (INTC)

As the best stock picker I've ever met said upon seeing this chart in 1998:
Chart forAltria Group Inc. (MO)

Splits: Jun 3, 1974 [2:1], Jun 1, 1979 [2:1], Apr 11, 1986 [2:1], Oct 11, 1989 [4:1], Apr 11, 1997 [3:1]

A trend is emerging.
(it's up 3% today)

From earth2tech:
After years of incubation and at least $91.4 million of private capital from investors including Intel, all of the capital equipment of silicon solar cell maker SpectraWatt has been sold to Canadian Solar for about $4.95 million. The sale still needs final approval from the bankruptcy court, which is scheduled to do so on Oct. 6. The auctioneer, Heritage Global Partners, also plans to auction off bankrupt solar panel maker Solyndra.
The sale is a dismal end for SpectraWatt, which was incubated inside Intel before being spun off in 2008 with $50 million in capital from Intel, Goldman Sachs’ Cogentrix Energy, PCG Clean Energy and
Technology Fund, and Solon....MORE