Vestas Wind Systems
Socially responsible investing can be profitable, very profitable, but there are some object lessons out there that should cause investors to make sure that not only are their companies socially responsible but that they have a compelling reason to be in the stock beside just good vibes. Alternative energy seems to be the worst-hit sector of socially responsible stocks over the last few years.
Profits Gone With The Wind
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My, what a difference a few years can make in the world of environmental stewardship. In 2008, John McCain visited worldwide wind turbine leader Vesta's (NASDAQOTH: VWSYF) North American headquarters in Portland, Oregon, and declared acknowledgment of the dangers of climate change, and provided unequivocal support for a cap and trade program in the United States. By 2010, McCain reversed his support for cap and trade. With recent climate more »
Believe it or not, there is an upside to Chinese low-cost producers stealing your market share.
Before China made a strong entrance into the wind market, leading wind turbine maker Vestas (NASDAQOTH: VWSYF) enjoyed a comfortable lead over a usual lineup of competitors. Now that the low-cost Chinese producers have blown in on a gale wind, displacing half of the top 10 wind turbine makers, the economics of the wind more »
Vestas Wind Systems (NASDAQOTH: VWSYF), the world’s biggest wind-turbine maker, will have little choice but to layoff as many as 1,600 employees unless Congress extends the production tax credit (PTC) which expires at the end of 2012. Gamesa Tecnologica (NASDAQOTH: GCTAF) and other manufacturers in the industry also have announced layoffs. The wind industry employs about 75,000 nationwide.
Investment dollars in wind energy will drop more »