Even though Germany gets about as much sun as the average town in Alaska, it’s the world’s leader in the solar power industry. Why? Extensive and effective government subsidies. Today, it looks like subsidies will shrink 16 to 17 percent starting in April, with further cuts coming next year. Solar stocks all over the world have plunged in response to the news, providing a bittersweet opportunity for investors.
Subsidy cuts have been a long time coming in Germany, where the solar market is so saturated that equipment and component prices have dropped off a cliff. The same problem has [...]
By Walter Alarkon and Roxana Tiron – 10/06/09 08:01 PM ET
The Senate on Tuesday approved a $636 billion Pentagon spending bill after defeating repeated efforts by Sen. John McCain (R-Ariz.) to slash funding for the C-17 cargo aircraft.
The bill funds military operations for the fiscal year that started Oct. 1. The legislation will now move to a conference with the House, which passed its version in July.
The bill heeds several budget recommendations made by the Obama administration on high-profile defense [...]