Skip to comments.Bankrupt Solyndra seeks $1.5 billion in damages from Chinese peers (price fixing)
Posted on 10/13/2012 6:04:26 AM PDT by Libloather
Bankrupt Solyndra seeks $1.5 billion in damages from Chinese peers
9:17 p.m. CDT, October 12, 2012
(Reuters) - Bankrupt solar firm Solyndra has filed a lawsuit against three U.S.-listed Chinese solar players, including Suntech Power Holdings Co , seeking $1.5 billion in compensation due to monopolization by these firms, according to court documents filed on Thursday.
The lawsuit was filed against Suntech, Trina Solar Ltd and Yingli Green Energy Holding Co claiming that the trio's panel prices moved in tandem - falling 75 percent in four years in the U.S.
Solyndra, which claims in the lawsuit that the trio were involved in predatory pricing and price fixing, filed for bankruptcy a year ago as it could no longer compete with plunging prices of solar panels imported from China.
(Excerpt) Read more at chicagotribune.com ...
the second years ago that Obama started talking about “green jobs” I laughed to myself and said.
what’s going to prevent the Chinesse from making all these “green products” cheaper, just like they make everything else cheaper?
There was always zero chance of the US creating any lasting green jobs. As long as China can pay it’s workers $1 a month, we can’t compete without tariffs or something of that nature to equal the playing field.
If Solyndra prevails, will the taxpayers be repaid?
How about after the attorneys feast, they throw a few crumbs to the treasury?
Would you believe any money getting past the lawyers is an unlikely event?
Direct labor is a small part of the operating costs of producing these products. In that business, yield is everything. The integrity of the worker matters more than the size of the paycheck because poor labor quality and bad ethics in suppliers induces poor yield.
Solyndra did have a shot, but only on a level regulatory playing field. Of far more significance is the cost of maintaining people to comply with regulatory demands. If Solyndra was to sue anybody, they should sue the various environmental and safety agencies to which they owe their existence.
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