Opportunities for me to write about former solar pioneer Suntech (OTC: STPFQ) are growing fewer with each passing day, as its life as an independent company nears an end with the imminent finalization of its bankruptcy liquidation. That said, a company announcement saying that a new Suntech has emerged after the yearlong bankruptcy storm seems like a good opportunity to write about this company one last time before it and its stock permanently disappear. The announcement features a photo of Suntech’s youthful looking new CEO, Eric Luo, and says the company is preparing a new push into Europe, starting with Britain. (company announcement) Read Full Post…
Intriguing rumors that billionaire investor Warren Buffett might be eying bankrupt former solar superstar Suntech (NYSE: STP) are breathing new life into embattled solar shares, as traders bet that western investors could help to revive the sector. Such a move would indeed be a major vote of confidence in this tarnished industry, since most observers believe that no private investors would want to bet on this group and a state-led rescue will be necessary to save the shaky sector. But all of that said, I’m quite skeptical that the latest rumors are true, since Buffett isn’t know for investing in problem-plagued companies or sectors.
