Daily Archives: July 3, 2009

Venture Capital Growing Again in Clean Energy and Clean Technology (GE, DGW, BWEN)

Money Stack ImageIt seems that venture capital has started to reappear in clean energy and clean technology.  A report this week from The Cleantech Group with contributions from Deloitte saw a resumption to growth in venture investing after two quarters of decline. The funding  seems focused on electric vehicles and in biofuels, but interestingly enough the investments into solar hit a new low.  We have long maintained after watching solar stocks that they may be nothing more than a highly leveraged bet on the price of oil as far as publicly traded companies are concerned.

The outcome was funding in 94 companies receiving roughly $1.2 billion in total spread out in North America, Europe, China and India.  This would represent a gain of 12% from the prior quarter, but is still down a sharp 44% from a year ago.  The average round size was up roughly 5% over the prior quarter to $12.9 million.

All of this matters to the investing public because this is what leads to new IPO’s, mergers, partnerships and more.  Much of this data also coincides with what we seen in the public capital markets as well.
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Posted on: July 3, 2009 – 7:31 am in Alternative Energy, Green Biz, IPOs, Mergers and Buy Outs, Private Equity

Apple (AAPL) iPhone Bests Palm (PALM) Pre

applePre sales have to keep a very brisk pace for Palm (PALM) to continue its turnaround. Many experts believe that consumers will make a decision to buy the Pre in lieu of the Apple (AAPL) iPhone or RIM (RIMM) Blackberry. New data from Consumer Reports shows that the Pre may be a tough sell Read More »

Posted on: July 3, 2009 – 5:41 am in Wireless, , ,

Give Madoff Some Cellmates

By Antoinette Geyelin

So, Mr. Bernard Madoff is going to jail for 150 years. Seems like a fairer sentence than the twelve his lawyers asked for. But you know what? I don’t think he should be there alone; I think he should have some company.

Quite a lot of company in fact. Who should be there with him?

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Posted on: July 3, 2009 – 5:19 am in Uncategorized

Toto, I don’t think we’re in Kansas anymore…

By Kathleen Rogers

The state of California may soon issue IOUs to its business vendors, students awaiting financial aid payments, and taxpayers expecting refund checks. When I first read this story, I had to check the calendar – was it April 1? No, this April Fool’s joke is exactly three months late. I am reminded of my childhood, playing the Game of Life with friends, occasionally resorting to using those last-resort Promissory Notes, which even we kids knew could end up worthless. The state has not made clear when it might make good on these notes, whether or how much interest they might pay, etc. Even the threat of the issuance of promissory notes spells out just how dire California’s financial situation now is. It seems the “Golden State” may have entered its “Golden Years,” at least in terms of its financial vigor.

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Posted on: July 3, 2009 – 5:16 am in Uncategorized

China Chases More Oil Assets (SNP)(RTP)

gasChina is scouring the world for oil as its expanding economy needs more crude to fuel its transportation and infrastructure needs. The world’s most populous nation is close to a deal to loan Brazil oil giant Petrobras $10 billion for off-shore drilling. The deal would help China lock up more than 100,000 barrels of crude a day.

China has been an aggressive bidder for rights to Iraqi oil fields although it is too early to say how that will work out. Sinopec (SNP) has bid $7.2 billion for oil company Addax Petroleum. Read More »

Posted on: July 3, 2009 – 5:14 am in China, Mergers and Buy Outs, Metals, Oil & Gas, ,

Fifty-Two Banks May Have Closed, But Where Are The Rest?

bankNouriel Roubini told Barron’s almost a year ago that 1,400 US banks would fail due to the collapse of the credit markets. RBC Capital made a similar estimate.

As it turns out, 2009 is only half over and only 52 banks have closed including seven that were announced yesterday. No major US financial firm has closed down. Read More »

Posted on: July 3, 2009 – 4:54 am in Banking

Media Digest 7/3/2009 Reuters, WSJ, NYTimes, FT, Bloomberg

newspaperReuters:   Smart investors are starting to cherry- pick stocks.

Reuters:   California may agree on a budget to stop using IOUs.

Reuters:   Some stock funds are still making up for lost ground.

Reuters:   The US housing market may be in early recovery.

Reuters:   US unemployment spiked in June. Read More »

Posted on: July 3, 2009 – 3:58 am in Press Digest, , , , , , , ,