at the Citizen Power Alliance 2010 Wind Conference
Energy Poverty Faith Leaders Updated
|Re-Tweeted Christopher C. Horner @Chris_C_Horner https://youtu.be/ZUX-zE2k8qs @EELegal Energy & Environment Legal Institute https://youtu.be/ZUX-zE2k8qs http://ift.tt/2zdPuzM|
80 x 50 Hokum
|80 x 50 Hokum - New Yorkers are footing the bill for Governor Cuomo and Mayor de Blasio’s quixotic #energy-efficiency plans: http://ift.tt/2j1SlRa http://ift.tt/2j1SlRa New Yorkers are footing the bill for Governor Cuomo and Mayor de Blasio’s quixotic energy-efficiency plans.http://ift.tt/2zdPuzM|
Energy Policy in Minnesota: The High Cost of Failure - American Experiment
|Energy Policy in Minnesota:The High Cost of Failure: http://ift.tt/2B21XTv http://ift.tt/2B21XTv Read the Full Report Steven F. Hayward is the senior resident scholar, Institute of Governmental Studies, University of California at Berkeley and author of the 2011 Almanac of Environmental Trends. Peter J. Nelson is a vice president and senior policy fellow at Center of the American Experiment.http://ift.tt/2zdPuzM|
how safe are industrial sized turbines | Northern NY Wind
|http://ift.tt/2zc8Sgz http://ift.tt/2zc8Sgz Ice throw, fires, broken blades, documented turbine failures.http://ift.tt/2zdPuzM|
SunEdison Sets Bankruptcy Exit With Nothing for Shareholders
SunEdison Inc. won final approval for a bankruptcy plan that will leave what was once the world’s largest renewable-energy firm as a shell of its former self, with nothing for shareholders whose investment at one point had been worth about $10 billion.
SunEdison, known for gobbling up other companies and expanding at breakneck speed, will now exit Chapter 11 to “continue business operations to administer and maximize the value of the company’s remaining assets,” including intellectual property and fixtures, Chief Financial Officer Philip Gund said in court filings.
U.S. Bankruptcy Judge Stuart Bernstein’s approval of the reorganization plan in Manhattan court Tuesday came as he overruled remaining objections from shareholders as well as two investors who had opposed the company’s exit financing. He noted that many shareholders had emailed him to object to the plan, and that he would issue a written ruling explaining his decision to approve the reorganization in despite of their protests.
Bernstein said there was no evidence of bad faith in the negotiation of exit financing, as had been alleged by CNH Partners LLC and AQR Capital Management LLC, holders of second-lien debt. Left out of the exit financing, they had alleged that the company had essentially bought the votes of other second-lien creditors that had agreed to fund it in exchange for stock in the reorganized company.
When SunEdison first sought court protection in April 2016, things looked bleak for creditors and its two companies known as yieldcos created to buy the wind and solar projects it built, TerraForm Power Inc. and TerraForm Global Inc., whose finances were deeply entwined with their parent. The bankruptcy covered $16.1 billion in liabilities and a tangle of 1,500 legal entities, including individual wind and solar projects still in development.
SunEdison managed to settle disputes with the yieldcos and negotiate a sale for some of its more prized projects. Its crowning achievement was the sale of its yieldco stakes to Brookfield Asset Management Inc.
SunEdison’s second-lien debt holders participating in the exit financing will get 90 percent of the company’s new common stock as well as 90 percent of Class A shares in TerraForm Power in exchange for backing a rights offering designed to raise $300 million for the bankruptcy exit, according to court filings.
The reorganized company’s modest agenda also includes completing transactions for remaining assets that are being sold, and maximizing the recovery of tax refunds, court filings show.
The plan also settles some disputes over what caused the company to fail. These included the actions of executives and directors, and how SunEdison created and used the two TerraForms to deliver yield to investors hungry for wind and solar investments. The pacts resolve issues that are all “highly contentious, complex, multi-party issues that would each raise their own risks and factual challenges if litigated,” Chief Executive Officer John Dubel wrote in a court filing.
Those measures helped unsecured creditors, who had once expected to get nothing. They secured $32 million in proceeds of directors and officers’ insurance through settlements, and $18 million through negotiations with the yieldcos. They will be repaid through a trust, seeded with those funds, which also has the rights to pursue lawsuits over the company’s demise. While the settlements limit potential lawsuits, court papers note that some claims related to fraud, willful misconduct or gross negligence are still possible.
Secured creditors, including some who rolled over their pre-bankruptcy debt into a new loan at the outset of the Chapter 11 case, will be repaid in full with cash, according to court papers. This group includes banks that provided the company with an operating loan to keep funding projects in bankruptcy.
A debtor-in-possession or DIP loan from Deutsche Bank AG as administrative agent at the outset of the case was repaid by a second DIP loan in April. The second DIP was arranged by Deutsche Bank, Goldman Sachs Lending Partners LLC and Bank of America Merrill Lynch. Deutsche, Goldman and other funds were also lenders, according to court papers.
The reorganization doesn’t affect ongoing lawsuits from SunEdison’s common shareholders, who pursued the company’s former management. A spokesman for SunEdison didn’t return a call and email seeking comment.
Even as the reorganization draws to a close, letters from more than 100 disgruntled shareholders continue to roll in for the judge, and a group to represent them continued to object. They questioned how the company ran through $24 billion in financing, leaving nothing for them. They also complained that they were left in the dark about how assets were valued and sold.
“I have significant value in this company which will affect my family,” shareholder Piyush Patel wrote in a July 5 letter to Bernstein, complaining that an independent financial audit of the company was never done.
“SunEdison flew too close to the sun and landed in Manhattan bankruptcy court,” Nathan Serota, a New York-based analyst at Bloomberg New Energy Finance, said in an email last week. “During the Chapter 11 process, the company lost nearly all of the the assets and personnel that -- for better or worse – defined it in the first place.”
The case is In re SunEdison Inc., 16-10992, U.S. Bankruptcy Court, Southern District of New York (Manhattan). The shareholder lawsuits are 16-02742, U.S. District Court, Southern District of New York (Manhattan).
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Hillary's Record PROOF she's UNFIT to be President
Hillary Clinton’s record is proof she’s unfit to be President
There's no doubt that both candidates who have any chance of winning this year’s Presidential election have many shortcomings. Yes, Donald Trump's words from years ago were crude and indefensible. However, they pale in comparison to the life-altering words and actions Hillary Clinton has actually said and done over her lifetime as a career politician.
Hillary defended the rapist of a twelve year-old girl, got the rapist off with a minimal charge, laughed about it on tape, and left the girl traumatized for life. Hillary also targeted the women her husband sexually assaulted over the years, in an attempt to destroy the victims of her husband's crimes, so that the Clintons' political careers would not be harmed.
Let's consider just a few of Hillary’s long list of failures.
1) Hillary promised to create 200,000 jobs in Upstate NY while serving as a NYS Senator and living the high life in Westchester County. Upstate jobs actually declined over her time in office here.
2.) Four American heroes died in Benghazi while Hillary was Secretary of State, which Hillary’s campaign chair, John Podesta's leaked emails reveal "was preventable." Hillary ignored the victims’ repeated pleas for help - both prior to and during the 13 hour-long attack. Hillary then repeatedly lied to the deceased Americans’ family members for weeks until the truth was exposed.
3.) The Middle East situation worsened terribly under Hillary’s term as Secretary of State (ie: the failed 'red line' in Syria; failed policy in Libya; the ill-planned Iraq withdrawal which led to the creation of ISIS; and the utter failure to contain ISIS).
4.) Hillary used her position as Secretary of State to orchestrate deals with foreign governments, resulting in huge pay-offs to the Clinton Foundation in return for favors – most notably, the Uranium One deal, which landed 20% of U.S. uranium in Russia's hands, as the Clinton Foundation benefitted immensely. See the New York Times report: http://nyti.ms/1PlHNFN.
5.) Hillary’s behind-closed-doors deals with Billionaire Wall Street 'Green Gangsters' (ie: Elon Musk, Tom Steyer, etc.) enable these ‘green’ consumer frauds to exist, while enriching Hillary’s crony pals at taxpayers', ratepayers' and the environment's expense.
6.) Hillary’s time as Secretary of State under Obama also resulted in:
a.) Failure to improve schools and inner-city living conditions;
b.) Increased poverty, people on welfare and food stamps;
c.) Decreased average household income and participation in the workforce, etc.
7.) Email-Gate: 33,000+ emails were deleted from Hillary's illegal server, while her computers and blackberries were destroyed with 'Bleach Bit' and hammers - after having been subpoenaed to hand them over. Richard Nixon was impeached for a lot less.
8.) In Hillary’s paid speeches to Brazilian Banks, Hillary revealed she wants "open trade" (calling TPP "the Gold Standard") and “open borders.” (This should terrify every patriotic American citizen!)
9.) Hillary admits it's impossible to properly vet Syrian refugees, but she wants to increase the refugees they’re allowing into the U.S. by 550%. U.S. taxpayers will be on the hook for the massive bill – adding to the unsustainable $20 Trillion dollar national debt - which has nearly doubled under Obama's reign.
10.) Hillary does not want Voter ID, yet there’s proof that voter fraud is rampant everywhere. (See the New York City Democratic Commissioner admit to it here: https://youtu.be/jUDTcxIqqM0)
11.) Leaked Podesta emails reveal that Hillary and her campaign staff mocked Catholics and Evangelicals. (Can you imagine the outrage if Republicans had mocked Islam in this manner?) The Podesta emails also reveal they dissed Blacks, Hispanics, and Bernie supporters. Here's just a few of their revealed statements: Hillary "Hates everyday Americans," "Ignorant voters are the key to the win," and "Hillary wants unaware and compliant citizenry."
12.) Hillary claims she is “for children and families,” yet she supports abortion on demand through the 9th month. If you’ve never seen what this heinous act looks like, see this diagram: https://www.youtube.com/watch?v=A6vnOaq7nWU.
If Hillary does not care about protecting innocent babies' lives, what makes you think she will give one hoot about you or your family?
13.) Hillary Clinton has made clear that she will appoint progressive Supreme Court justices who, like her, have no regard at all for human life, religious liberty, nor the 2nd Amendment.
What this election boils down to is Trump’s vision for National Sovereignty, secure borders and an 'Americans first' mentality, versus Hillary’s push for globalism (aka: One World Order) with “open borders.”
Frankly, I am far more offended by pictures of dead, aborted babies, and Ambassador Stevens' lifeless, tortured body in Benghazi, than anything that Donald Trump 'said' many years ago as a private citizen.
Hillary Clinton’s lengthy list of utter failures, and her callous, immoral disregard for human life is exactly why Hillary Clinton should NEVER be President of the United States!
Mary Kay Barton
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