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Megan Jelinger | ReutersA flood of foreign solar components threatens efforts to build a domestic manufacturing base in the U.S. to support the clean energy transition, according to First Solar CEO Mark Widmar. A common type of solar panel used in the U.S. is excluded from Section 201 tariffs designed to protect domestic solar manufacturing, and a moratorium on tariffs against solar components imported from several Southeast Asian nations is in place. Biden vetoed legislation last spring that would have imposed tariffs on solar components from Cambodia, Malaysia and Thailand. "What this is doing is it's not allowing these domestic companies to scale," Widmar said. The company has intentionally overbooked to provide a buffer against the volatility in the solar market, he said.
Persons: Megan Jelinger, Mark Widmar, Widmar, Biden, Trump, Joe Biden, wasn't Organizations: Reuters, Solar, CNBC, U.S . Commerce Department, Commerce Locations: Perrysburg , Ohio, U.S, Cambodia, Malaysia, Thailand, Vietnam
First Solar shares jumped Wednesday after reporting another solid quarter, with the company booked solid through 2026 and an order backlog that stretches into the end of the decade. First Solar is one of the few companies that has weathered the sharp downturn in the solar sector. JPMorgan has a price target of $226 for the stock, implying about 56% upside from Tuesday's close. Goldman Sachs lowered its price target for First Solar to $265 from $275 prior despite the company's strong quarter. The investment bank said solar module oversupply and potential changes to U.S. tax credits are key risks for First Solar moving forward.
Persons: Morgan Stanley, Andrew Percoco, Mark Strouse, Corinne Blanchard, Blanchard, Alexander Bradley, Mark Widmar, Goldman Sachs Organizations: Solar, JPMorgan, Deutsche Bank, Deutsche Locations: Perrysburg , Ohio, India, Europe
NASHVILLE, Tenn. (AP) — Jim Leyland left his living room in Thornburg, Pennsylvania, and had gone upstairs to lie down, convinced the call to Cooperstown wasn't coming. Hall chairman Jane Forbes Clark was on the line and Leyland had been voted in, two weeks shy of his 79th birthday. Leyland coached in the Tigers minor league system, then started managing with Bristol of the Appalachian Rookie League in 1971. The Pirates sank from there following the departures of Bonds and ace pitcher Doug Drabek as free agents, and Leyland left after Pittsburgh’s fourth straight losing season in 1996. But the Marlins sold off veterans and tumbled to 54-108 in 1998, and Leyland left for the Rockies.
Persons: Jim Leyland, , , Pat, Jane Forbes Clark, ” Leyland, Leyland, Joe McCarthy, Clark Griffith, Barry Bonds, Gary Sheffield, Larry Walker, Miguel Cabrera, Justin Verlander, Max Scherzer, they're, Lou Piniella, Bill White, Cito Gaston, Davey Johnson, Joe West, Ed Montague, Hank Peters, Adrián Beltré, Joe Mauer, Chase Utley, David Wright, José Bautista, Matt Holliday, Holdovers, Todd Helton, Billy Wagner, Tony La Russa’s, Jim Who, I'm, Francisco Cabrera’s, Doug Drabek, ″ Leyland, Alan Trammell, Louis Organizations: Cooperstown, Leyland, Florida Marlins, Baseball Writers ’ Association of America, Jan, Tigers, Bristol, Appalachian Rookie League, Chicago White Sox, Pirates, Pittsburgh Press, Pittsburgh, Atlanta, The Pirates, Marlins, White Sox, Red Sox, Angels . Florida, Rockies, St, Louis Cardinals, American League Locations: Tenn, Thornburg , Pennsylvania, Pittsburgh , Florida , Colorado, Detroit, Toledo , Ohio, Perrysburg, San Francisco, Cooperstown
For more than two decades, workers at a factory in Perrysburg, Ohio, near Toledo, have been making something that other businesses stopped producing in the United States long ago: solar panels. How the company that owns the factory, First Solar, managed to hang on when most solar panel manufacturing left the United States for China is critical to understanding the viability of President Biden’s efforts to establish a large domestic green energy industry. Mr. Biden and Democrats in Congress last year authorized hundreds of billions of dollars in federal incentives for manufacturing solar panels, wind turbines, batteries, electric cars and semiconductors. The efforts amount to one of the most expansive uses of industrial policy ever attempted in the United States. But nobody is entirely sure whether these investments will be durable, especially in businesses, like battery or solar panel manufacturing, where China’s domination is deep and strong.
Persons: Biden’s, Biden Locations: Perrysburg , Ohio, Toledo, United States, China
More layoffs are anticipated at Kokomo Transmission and Kokomo Casting in Kokomo, Indiana, impacting an additional 300 employees there, the company said. Ford and General Motors already laid off or warned of idling employees at two of their plants because of the targeted strikes. General Motors idled 2,000 employees at the company’s Fairfax Assembly Plant in Kansas due to the UAW’s targeted strike on its Wentzville Assembly Plant in Missouri, the company announced Wednesday. Due to the specific circumstances of this situation, impacted employees are not eligible for company-provided SUB-pay,” the company said in a statement. GM said it continues to bargain in good faith and is scheduled to be at the main bargaining table with the UAW today.
Persons: Stellantis, Stellantis . Ford, Fairfax, Shawn Fain Organizations: CNN, United Auto Workers, Kokomo, Stellantis, General Motors, Ford’s Michigan Assembly, Fairfax Assembly Plant, GM, UAW Locations: Toledo, Perrysburg , Ohio, Kokomo , Indiana, Wayne , Michigan, Fairfax, Kansas, Wentzville, Missouri, Kansas City
In addition to 87 more Bed Bath & Beyond stores, the company now says it will close all of its remaining Harmon health and beauty stores, and five Buybuy Baby stores. San Leandro: 15555 East 14th St., Suite 24015555 East 14th St., Suite 240 Burbank: 201 East Magnolia Blvd. Marina: 117 General Stilwell Drive117 General Stilwell Drive Vallejo: 105 Plaza Drive, Suite 107105 Plaza Drive, Suite 107 * Palm Desert: 72459 Highway 11172459 Highway 111 * Visalia: 3125 South Mooney Blvd. Arterial * Coralville: 2515 Corridor Way Suite 5Kansas:Lawrence: 3106 S. Iowa St., Suite 2153106 S. Iowa St., Suite 215 Manhattan: 425 3rd Place425 3rd Place * Olathe: 15335 W. 119th St.Kentucky:Elizabethtown: 1998 N. Dixie Ave.1998 N. Dixie Ave. New Hartford: 4805 Commercial Drive4805 Commercial Drive Kingston: 1187 Ulster Ave.1187 Ulster Ave. Plattsburgh: 73 Centre Drive, Suite 10073 Centre Drive, Suite 100 Farmingdale: 251 Airport Plaza Blvd.
Bed Bath & Beyond released an updated list of store closures set to take place by March. San Leandro: 15555 East 14th St., Suite 24015555 East 14th St., Suite 240 Burbank: 201 East Magnolia Blvd. ArterialKansas:Lawrence: 3106 S. Iowa St., Suite 2153106 S. Iowa St., Suite 215 Manhattan: 425 3rd PlaceKentucky:Elizabethtown: 1998 N. Dixie Ave.1998 N. Dixie Ave. New Hartford: 4805 Commercial Drive4805 Commercial Drive Kingston: 1187 Ulster Ave.1187 Ulster Ave. Plattsburgh: 73 Centre Drive, Suite 10073 Centre Drive, Suite 100 Farmingdale: 251 Airport Plaza Blvd. Wisconsin:Mequon: 11110 N. Port Washington RoadPuerto Rico:Bayamon: Plaza Del Sol, 725 West Main Ave.Do you work for Bed Bath & Beyond?
Bed Bath & Beyond is closing around 150 stores and laying off staff. It has now named 56 of the stores set to close across 21 states. By laying off staff and closing the stores, the company said it planned to reduce costs by $250 million in 2022. Sales in the second quarter had slumped roughly 26% compared to the same period in 2021, Bed Bath & Beyond said in preliminary earning results. The struggling retailer has now revealed the location of 56 of the stores being closed, spanning 21 states and Puerto Rico.
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