SunEdison Inc. Chief Executive Officer Ahmad Chatila has some explaining to do, after announcing a plan to fire 15 percent of his workforce. It’s his latest move to reverse anindustry-worst 70 percent plunge in market value over three months.
Ok, so not only an Enron, ponzy scheme, pyramid scheme, or what have you....
TERRAFORM Power Owns & Manages SunEdison Generation facilities (ALL Types, solar, wind, hydro)
SUNEDISON purchases little companies, either directly or by hostile takeovers by purchasing majority stock.
SUNEDISON is in debt severely (investors are walking away)
TERRAFORM Global is formed as a YieldCo to generate (through share sales) funds to redirect back to SunEdison so that it can pay dividends on stocks no one will buy, and probably only now owned by the corporate types.
TERRAFORM Power, holds the same Institutional buyers as SUNEDISON (identical)
TERRAFORM Global, has 0 holders of stock, Institutional or other wise.
SO..... if you're buying TERRAFORM Global, you're actually buying SUNEDISON in disguise. Purchasing DEBT, while paying dividends to the institutional investors (6) and the corporate owners.
I see ENRON all over again. And the taxpayers are funding this fraud!