SunPower (SPWRA) said after the bell today that it’s investigating accounting errors related to its Philippine manufacturing operations and that its financial statements for 2008/2009 as well as guidance for this year can’t be relied on. The company hopes to provide an update within the next 30 days, but estimates that about 1 million in expenses were overstated in Q1, $14 million understated in Q2 and 2 million understated in Q3. Those aren’t huge numbers, … Read the rest
Tag Archives: philippines
Is Geothermal Drilling Causing Earthquakes?
Geothermal power is emerging as a significant player in the alternative energy space, with operations cropping up around the world and high hopes for powering significant numbers of homes and businesses as an alternative to traditional electricity. But as with all prospects in alternative energy, geothermal power is not without its downside. Currently, a great deal of effort is being poured into determining just how damaging geothermal drilling is – or if it even exists. … Read the rest