Two More Stimulus-Backed Solar Companies Announce Layoffs…
(WZ)
Via Heritage:
A pair of foreign-owned solar companies that benefited from a combined $84 million in Energy Department tax credits have announced they will lay off employees.
One of the companies, German-owned SolarWorld, was integral in the fight for tariffs against the importation of Chinese photovoltaic solar panels. The other, Chinese company SunTech, blamed those tariffs for its own layoffs.
Both companies benefited from the Energy Department’s stimulus-funded Advanced Energy Manufacturing (48C) Tax Credit. The 48C credit is worth up to 30% of the cost of manufacturing qualifying green energy projects.
SolarWorld received a credit worth $82 million, while SunTech’s was worth $2.1 million.
Both companies announced this week that they will shed some employees. SolarWorld, which announced a 47% revenue decline in the third quarter, blamed a potential 37 layoffs at its Oregon plant on “illegal” Chinese trade practices.
SunTech said the U.S. International Trade Commission’s 35.95% tariff on Chinese solar panels was partially responsible for the 50 impending layoffs at its Arizona production facilities.
Quoting Simmeringhearts:Are they mad that Obama won too?
Nah they can just live off the govt and collect checks. Exactly what they wanted. There is no incentive for Obama to do anything about jobs bc he wants everyone to be on the govt teat.
I only did a quick check on SunTech. It's tax break came from an Arizona bill. Was that funded by the stimulus?
I'll dig more later.
http://www.usatoday.com/story/money/cars/2012/11/12/tesla-model-s-electric-car-motor-trend-car-of-the-year/1701167/
Quoting imamomzilla:Romney was right....he picks the losers.
Immigration Officer's Union Raising Concerns, re: Fraud and Security Risks Under Obama's Dream Act for Young Illegals
- imamomzilla
on Nov. 17, 2012 at 7:59 AM