Nine dancers take to the country's southern Subotica X. International Ethno Festival Aug. 22 and 26 between.
Subotica City Hall built in Etnopolis again, where now the festival has become a hallmark of a passport is symbolic of the public may purchase price. The visitors can admire the masterpieces of the craft fair, or even next to the playhouse now, "culinary village" also offers fine food and drinks for the visitors - enter the word Hungary's southern newspapers on Wednesday.
The Etnopolis táncpanorámán stage will introduce ourselves to the dance groups, which in addition to local folk dancers from Argentina, Venezuela, North Cyprus, Spain, Chechnya in Russia, Ukraine and neighboring Romania and Hungary to come. Subotica addition to the actions of the dance group will visit Bacs Zentára and Black Mountain as well.
The festival's concert program, the backbone of making music together! called productions will provide, in which musicians from different nationalities come into formations onstage. On August 23 the Bakos Árpád World Music Orchestra entertained the audience with melodies, 24 and a joint concert at the Shepherd Ravnica tamburitza and the student orchestra. They are the Croatian and Hungarian folk strand represented. The main concert on 25 of the last ten years of successful festivals, the largest crowd Strip tax band gives concerts.
A rich accompanying program can choose from among the visitors Etnopolisba: Folk band perform the spots, the traditionalists muzslyai kancsika whip and held demonstrations. Senta will be recorded in Medieval Tradition of St. Longinus Society productions, a Youth Centre in Kecskemét on 26 brings the children's playground Kecskeméti program.
Those who want to experience what experience can provide a far country coming together to learn dances from the main square after the program from Subotica to visit the People's Circle, the national dance of the festival club house, a barátkozós, dancing gatherings.
The festival program will be free.
2011年8月1日 星期一
Arts and heritage protection
The Pécs University of Arts Faculty of ten days Senta artists' colony in the framework of Friday evening was opened in the City Hall portico of the colony of artists participating in large-scale exhibition of young artists in the Zenta monument and historic buildings inspired by the works to consult the interested parties. The exhibition in the portico outside the Town Hall in front of a large-scale chalk drawing, the building's balcony was a particular installation. The participants of several artists 'colony is also a historical monument building tables placed so that the language of art is to invite the public and the authorities' attention to the fact that the buildings should be saved from destruction.
The Vojvodina Hungarian Cultural Institute organized on July 21 to 31 and held between the artists' colony in Senta Senta-born leader of the dr. Raffay Endre Art Historian, University of Pécs, Faculty of Arts Department of Art History and Theory was the head of department. The ten participants, two of the two artistic director, Bavarian Zita and Clement Peter made the painters and the rest of the Pécs University of Arts Faculty students, whom the Bolyai Gifted High School a few fine arts student of joined in order to gain an insight into the academic professions, under which the leading participants in Vojvodina also heard presentations from experts in the colony.
The artist's site manager, Raffay Andrew said he thought the art to this day a major role to such issues, which public opinion is concerned, even the art of language might be better to call those people who every day see, use and damaging these buildings.
- Hoped, by several different works to raise awareness of the buildings aesthetic values and historical or cultural aspects, maybe can start a process which has resulted in the everyday world pay more attention can they possibly begin to defend, or even a way renew them that the original values are not violated. On the one hand the people of Senta is in this way we wanted to address, on the other hand, we wanted to call the city's management and the conservation agency's attention to the fact that these buildings should be saved from destruction - said Raffay Endre.
A colony of artists participating in a task it was, which were required to produce portraits of inhabitants, Senta, even the well respected persons. The portraits of realism, however, in some cases - apparently deliberately - the expense suffered which were intended to highlight to the building facade of the changes, like human faces may fall in some changes, and that ill-considered changes in almost all cases, destruction result.
To ensure that the building public awareness of the importance of protecting even more spectacular in the world, one student Andrew Raffay together with planned conservation tables. All five of these tables housed in five historic buildings. The selected buildings on Friday afternoon on behalf of the colony monument. But since this was not an official body, and it obviously is not an official monument signs placed on tables, but works of art, which is intended to draw attention to the houses.
- The main aspect of the buildings, choosing the former, that is to look for, which is uninhabited, so only a single hair separates them from demolition considered fall, so even though it officially went after him, perhaps at the last minute intervene in order to save them. These buildings are almost without exception, in the nineteenth. century in the last third was built in historicist or eclectic, mostly neo-Renaissance elements using the houses that are avoided in recent years, the transformation wave, thanks to the remaining of the original facade architecture, which means that state, which have to be restored - said the head of the department.
The University of Pécs, Faculty of Arts staff would like to see artists' colony in the Senta become a tradition, the young artists every year and get back to Zentára. Hoping no one was offended that they tried the art of language to call attention to how important it is to preserve the riverside town of special architectural values, because - as drafted - Senta with commonly want to work for the fact that these buildings are maintained and as soon as possible to get a new life.
The Vojvodina Hungarian Cultural Institute organized on July 21 to 31 and held between the artists' colony in Senta Senta-born leader of the dr. Raffay Endre Art Historian, University of Pécs, Faculty of Arts Department of Art History and Theory was the head of department. The ten participants, two of the two artistic director, Bavarian Zita and Clement Peter made the painters and the rest of the Pécs University of Arts Faculty students, whom the Bolyai Gifted High School a few fine arts student of joined in order to gain an insight into the academic professions, under which the leading participants in Vojvodina also heard presentations from experts in the colony.
The artist's site manager, Raffay Andrew said he thought the art to this day a major role to such issues, which public opinion is concerned, even the art of language might be better to call those people who every day see, use and damaging these buildings.
- Hoped, by several different works to raise awareness of the buildings aesthetic values and historical or cultural aspects, maybe can start a process which has resulted in the everyday world pay more attention can they possibly begin to defend, or even a way renew them that the original values are not violated. On the one hand the people of Senta is in this way we wanted to address, on the other hand, we wanted to call the city's management and the conservation agency's attention to the fact that these buildings should be saved from destruction - said Raffay Endre.
A colony of artists participating in a task it was, which were required to produce portraits of inhabitants, Senta, even the well respected persons. The portraits of realism, however, in some cases - apparently deliberately - the expense suffered which were intended to highlight to the building facade of the changes, like human faces may fall in some changes, and that ill-considered changes in almost all cases, destruction result.
To ensure that the building public awareness of the importance of protecting even more spectacular in the world, one student Andrew Raffay together with planned conservation tables. All five of these tables housed in five historic buildings. The selected buildings on Friday afternoon on behalf of the colony monument. But since this was not an official body, and it obviously is not an official monument signs placed on tables, but works of art, which is intended to draw attention to the houses.
- The main aspect of the buildings, choosing the former, that is to look for, which is uninhabited, so only a single hair separates them from demolition considered fall, so even though it officially went after him, perhaps at the last minute intervene in order to save them. These buildings are almost without exception, in the nineteenth. century in the last third was built in historicist or eclectic, mostly neo-Renaissance elements using the houses that are avoided in recent years, the transformation wave, thanks to the remaining of the original facade architecture, which means that state, which have to be restored - said the head of the department.
The University of Pécs, Faculty of Arts staff would like to see artists' colony in the Senta become a tradition, the young artists every year and get back to Zentára. Hoping no one was offended that they tried the art of language to call attention to how important it is to preserve the riverside town of special architectural values, because - as drafted - Senta with commonly want to work for the fact that these buildings are maintained and as soon as possible to get a new life.
2011年7月28日 星期四
A system developed by University of Zurich
Zentai Pálinkabírálók The Society was founded in 2006. Their members from the beginning training sessions, professional practices, judicial training sessions, participate in field trips, such as knowledge gained, which can be properly assessed, classified as a brandy.
Dr. Peter Rose in chemistry, the organization's president, said that its members professionally and impartially carry out the treatment.
- A system developed by University of Zurich, criticizing their specific props used, otherwise this method is used in criticizing the world's largest pálinkafesztiváljain well. Not only justiciary, but a professional can teach cooking brandy for the visitors. Pálinkafőzdéit regularly visit the area, provides recommendations to the distiller, and we try to prepare them to EU requirements - he said.
The secret of good brandy ask what Imre Novak, another member of the company's Her answer came fast: in particular the excellent fruit.
- This is the most basic things. Only healthy, full maturity, but not overripe fruit brandy cook. Best taken in the early hours, as soon as possible to make a clean barrel and pépesíteni. If at the same time there was not enough fruit, then a day or two a day should be added. The less time we gather, the more you get more spirit. The storage 20 degrees Celsius below the ideal. The mash megforr 7-10 days and more before fermentation, after fermentation as a cook. When the mash is heated to boiling point, the megindulásnál be careful not to start a fire, a strong spirit, because you can smell the exhaust steam will lose a lot. It is very important for the smooth and continuous firing. This is followed by refining, which is very time consuming. In this case, the requirement also applies to the boiler cleaned, and perhaps more importantly in the steady firing and distillation. One hundred liters of vodka distillation refining ca. 5 hours, may be faster, but lose quality brandy. The next step is to classify the product előpárlatra, and középpárlatra utópárlatra. The distillate may be disconnected because there are many harmful substances and gases, but be careful not to disconnect from it too much because you can throw away the good. Toward the end of the distillation is separated utópárlatot - Novak said Imre.
This is an important step in the fermentation pálinkafőzésnél - took back the word from the company's president. - The fermentation of two ways: spontaneous and strongly controlled. The spontaneous or traditional erjedésnél the fruit of wild yeasts and bacteria metabolize the sugar into alcohol, and the so-called irányítottnál. yeast. It is used in the company's members as well. The yeast is added in sufficient quantities, and by this we can control the biochemical process of fermentation, which is played back. The spirits, after which it is formed during the cooking, clean flavors, scents are typical and reflect the vintage. This year, for example. Peach was nice, but the sugar content was not as high, medium cherry in a little better, and it looks like it might be expected more from the circle - said the organization's president.
When the conversation was mentioned that in Serbia there is no adequate professional training. Fodor Laszlo, a member of the company, said that while the west form a chartered pálinkafőzőket Serbia, where there is no such qualification to acquire.
- This is a very big gap, so we are constantly striving to change that. Laszlo Boni Palic distillery would be suitable for this purpose, but it is not enough for us to want, it should be higher levels of control. The more people deal professionally cooking brandy, spirits are higher quality than in Serbia - Laszlo Fodor heard.
Dr. Peter Rose in chemistry, the organization's president, said that its members professionally and impartially carry out the treatment.
- A system developed by University of Zurich, criticizing their specific props used, otherwise this method is used in criticizing the world's largest pálinkafesztiváljain well. Not only justiciary, but a professional can teach cooking brandy for the visitors. Pálinkafőzdéit regularly visit the area, provides recommendations to the distiller, and we try to prepare them to EU requirements - he said.
The secret of good brandy ask what Imre Novak, another member of the company's Her answer came fast: in particular the excellent fruit.
- This is the most basic things. Only healthy, full maturity, but not overripe fruit brandy cook. Best taken in the early hours, as soon as possible to make a clean barrel and pépesíteni. If at the same time there was not enough fruit, then a day or two a day should be added. The less time we gather, the more you get more spirit. The storage 20 degrees Celsius below the ideal. The mash megforr 7-10 days and more before fermentation, after fermentation as a cook. When the mash is heated to boiling point, the megindulásnál be careful not to start a fire, a strong spirit, because you can smell the exhaust steam will lose a lot. It is very important for the smooth and continuous firing. This is followed by refining, which is very time consuming. In this case, the requirement also applies to the boiler cleaned, and perhaps more importantly in the steady firing and distillation. One hundred liters of vodka distillation refining ca. 5 hours, may be faster, but lose quality brandy. The next step is to classify the product előpárlatra, and középpárlatra utópárlatra. The distillate may be disconnected because there are many harmful substances and gases, but be careful not to disconnect from it too much because you can throw away the good. Toward the end of the distillation is separated utópárlatot - Novak said Imre.
This is an important step in the fermentation pálinkafőzésnél - took back the word from the company's president. - The fermentation of two ways: spontaneous and strongly controlled. The spontaneous or traditional erjedésnél the fruit of wild yeasts and bacteria metabolize the sugar into alcohol, and the so-called irányítottnál. yeast. It is used in the company's members as well. The yeast is added in sufficient quantities, and by this we can control the biochemical process of fermentation, which is played back. The spirits, after which it is formed during the cooking, clean flavors, scents are typical and reflect the vintage. This year, for example. Peach was nice, but the sugar content was not as high, medium cherry in a little better, and it looks like it might be expected more from the circle - said the organization's president.
When the conversation was mentioned that in Serbia there is no adequate professional training. Fodor Laszlo, a member of the company, said that while the west form a chartered pálinkafőzőket Serbia, where there is no such qualification to acquire.
- This is a very big gap, so we are constantly striving to change that. Laszlo Boni Palic distillery would be suitable for this purpose, but it is not enough for us to want, it should be higher levels of control. The more people deal professionally cooking brandy, spirits are higher quality than in Serbia - Laszlo Fodor heard.
2011年7月25日 星期一
Enthusiasm rather than professionalism
Sunday ended 12th Senta Summer Youth Games were presented at the fourth day of the event ten years history of Feast Days, a book of the grove. The image is rich in material, divided into ten volumes from the subjective recollections, interviews, reports from focusing on the facts and archival articles was compiled. Senta's festival taking place in the garden and about the volume of the author, Zsuzsa Gruia, Eszter and Elijah talking with Csaba Szögi Csillik Blanka. As a live interview with shorter, edited version of the reading room.
Well I think that this book is a thank you lelkesedéseteknek than a decade ago with plenty of games organized the first?
S.Ch.: Given that I was involved in organizing the first game, this insight is fully supported. It's not about the money then this event, as this book is not about the profitról. Both are honest, "as a partisan" was launched. The book manuscript is finished in May last year, and we expected that the 11th Games get out of the press, but it is not thought to be difficult not to raise too high printing costs. Fortunately, this year's Games with the money came, and the Mojo Club Senta municipality, thanks.
k09jatekoskonyv
The Summer Youth Games competition began as a team, it was the dominant segment, and over the years more and more music, evening entertainment was the main role. How do you look for this transformation?
G. P: Yes, this is true, the team competitions is completely pushed into the background. It seems the candidates is the number of troops. This year, only 34 team, however, initially more than 60 people were competing. I, as one of the organizers of the tournament team, my colleagues are working to change this situation.
S.Ch.: The first three games was "a" Festival. In the current it is, of course, but it was somewhere more like a dozen festivals. First, the lack of enthusiasm today. Only a few places left where you can feel the original atmosphere of the festival. Two thousand, when the first organized games, was a complete failure of money. Neither the organizers nor the visitors had no money, did not have to pay entrance fee and the prices were also quite amicably. The bands were mostly enthusiastic amateurs, the pros and understand that there is no money 'fees. Now this does not work that way.
I E: I am nine years old I was when I started this festival. Here, I even brought my mom. The transformation is reflected in the number of visitors can be achieved. Today's Garden szellősebbek the streets. Less familiar, less interested in the event of Iran. I have two or three years ago, I found that the enthusiasm has been replaced by professionalism.
Yet, year after year, all three visszajártok, takes part in some form of work you can. What is it that in spite of everything idevonz you?
G. P: For me, this festival is still the same as before. Maybe, it seems that the enthusiasm is lost, but what we are creating the atmosphere of old times. We gather with friends, the friends with whom we usually only see each year, and átbeszélgetjük the night.
I E: Me neither one can take away the old atmosphere. I grew up in this event, adjusted to a family holiday every year and still plays a central role for me.
S. Cs: I am looking for all the micro-climate. A friendly microclimate think, and this is of course also find here, as elsewhere, but there might be a slightly easier. Maybe I'm critical of the festival over, but I still love the games too.
Well I think that this book is a thank you lelkesedéseteknek than a decade ago with plenty of games organized the first?
S.Ch.: Given that I was involved in organizing the first game, this insight is fully supported. It's not about the money then this event, as this book is not about the profitról. Both are honest, "as a partisan" was launched. The book manuscript is finished in May last year, and we expected that the 11th Games get out of the press, but it is not thought to be difficult not to raise too high printing costs. Fortunately, this year's Games with the money came, and the Mojo Club Senta municipality, thanks.
k09jatekoskonyv
The Summer Youth Games competition began as a team, it was the dominant segment, and over the years more and more music, evening entertainment was the main role. How do you look for this transformation?
G. P: Yes, this is true, the team competitions is completely pushed into the background. It seems the candidates is the number of troops. This year, only 34 team, however, initially more than 60 people were competing. I, as one of the organizers of the tournament team, my colleagues are working to change this situation.
S.Ch.: The first three games was "a" Festival. In the current it is, of course, but it was somewhere more like a dozen festivals. First, the lack of enthusiasm today. Only a few places left where you can feel the original atmosphere of the festival. Two thousand, when the first organized games, was a complete failure of money. Neither the organizers nor the visitors had no money, did not have to pay entrance fee and the prices were also quite amicably. The bands were mostly enthusiastic amateurs, the pros and understand that there is no money 'fees. Now this does not work that way.
I E: I am nine years old I was when I started this festival. Here, I even brought my mom. The transformation is reflected in the number of visitors can be achieved. Today's Garden szellősebbek the streets. Less familiar, less interested in the event of Iran. I have two or three years ago, I found that the enthusiasm has been replaced by professionalism.
Yet, year after year, all three visszajártok, takes part in some form of work you can. What is it that in spite of everything idevonz you?
G. P: For me, this festival is still the same as before. Maybe, it seems that the enthusiasm is lost, but what we are creating the atmosphere of old times. We gather with friends, the friends with whom we usually only see each year, and átbeszélgetjük the night.
I E: Me neither one can take away the old atmosphere. I grew up in this event, adjusted to a family holiday every year and still plays a central role for me.
S. Cs: I am looking for all the micro-climate. A friendly microclimate think, and this is of course also find here, as elsewhere, but there might be a slightly easier. Maybe I'm critical of the festival over, but I still love the games too.
2011年7月21日 星期四
Solar Mirages Bring Muddy Waters Concerns to Panel Makers
Investors are starting to doubt profit estimates for China’s solar manufacturers as concerns about accounting practices first spotted at a forestry company spread nationwide.
Directors leading audit committees quit LDK Solar Co. on July 18 and at its rival Trina Solar Ltd. on July 12. Moody’s Investors Service on July 11 cited “accounting risks” at five Chinese companies including LDK. Muddy Waters LLC, a Hong Kong researcher, on June 2 accused Sino-Forest Corp. of inflating its timber production.
Those events widened doubts about the solar industry, which already was struggling with falling demand and prices, said Shawn Kravetz, chief executive officer at Esplanade Capital. Eight Chinese companies in the 17-member Bloomberg Large Solar Index have declined 13 percent since the Muddy Waters note, depressing share valuations to less than half the average Hong Kong’s benchmark share index.
“There is a little bit of the Muddy Waters phenomenon here, be careful of all Chinese companies,” Kravetz said by phone from Boston. “Some multiples are so low because they are mirages. If you get up close, the reason the earnings look so cheap is because the earnings won’t be there.”
Multiples of stock prices to earnings forecast for this year are 2.8 at LDK, 6 at Trina and 3.4 at Renesola Ltd. as of July 19. That compares to 11.8 times on the Hang Seng index of 46 companies.
Prices Tumble
Prices for photovoltaic panels and their components tumbled as much as 31 percent in June from the previous month as manufacturers tried to shift their stock while demand declined in Germany and Italy, according to Bloomberg New Energy Finance.
“You run through the spot pricing and they can’t make any money,” said Gabelli & Co.’s John Segrich, who runs the best- performing clean energy fund over the past year among 75 tracked by Bloomberg. “There’s a real mismatch between reality and what the estimates show you.”
The solar index has fallen 29 percent in the last three months, leaving it at 8.5 times expected 2011 earnings for its 17 members. The S&P 500, which trades at 13.3 times, has gained 1.1 percent over the period. The Hang Seng lost 6.9 percent.
Renesola, a solar wafer maker whose sales more than doubled last year, is down 33 percent in New York trading since June 2 when Muddy Waters founder Carson Block published his note on Sino-Forest. Trina has fallen 14 percent and LDK by 9.2 percent.
Renesola’s Reply
Renesola Chief Executive Officer Li Xianshou said analysts’ profit forecasts for the company were inflated after Germany and Japan pledged to shut nuclear plants after the Fukushima reactor meltdown in March.
“We are more objective and realistic about the market,” the Renesola executive said in a July 14 telephone interview. Spokesmen for LDK and Trina didn’t respond to calls seeking comment.
The Chinese companies are trading at lower multiples than rivals in the U.S. and Europe. First Solar Inc. of Tempe, Arizona, trades at 13.2 times estimated earnings, Solarworld AG, based in Bonn, Germany, at 11.1 times and Solaria Energia y Medio Ambiente SA of Madrid at 23.6 times.
Analysts expect Renesola of Jiashan, China, to post profit of $137 million this year, 15 percent less than four weeks ago, according to a Bloomberg survey. The forecast for LDK slipped 7.9 percent to $311 million and the outlook for Trina declined 5.5 percent to $239 million.
‘Accounting Risks’
Moody’s on July 11 named LDK, the world’s second-biggest panel maker by sales, as one of the companies with “accounting risks” about corporate governance. Trina, which makes solar wafers and modules, plunged 8.5 percent the following day after the head of its audit committee resigned.
LDK on July 18 said Louis Tung-jung Hsieh, an independent director who led its audit committee, resigned and was replaced by Bing Xiang. The shares have lost 36 percent this year. Kravetz allowed the options he held on LDK shares to expire on July 15, he said in an e-mail.
“The market conditions are very touchy, and anything like that gets sold off very quickly without any questions,” said David Li, the Hong Kong-based co-manager of the Impax Asian Environmental Fund who helps manage about $3.5 billion and avoids solar stocks because of their volatility. “The reaction I feel is excessive.”
China’s solar companies have been booming even though the rest of the industry is struggling. The nation has doubled solar panel output in the past five years, helping increase global capacity by 9.5 gigawatts this year to 41.5 gigawatts, according to New Energy Finance.
Renesola this year is aiming to almost triple its output of polysilicon even after a tumble in the price of the raw material for solar cells.
Short Positions
Segrich, who manages $150 million of assets across the top- ranked Gabelli SRI Green Fund and a hedge fund, said his biggest short positions, anticipating price declines, are in polysilicon makers including Wacker Chemie AG and OCI Co., which trade at 11.1 and 8.2 times expected earnings.
He said those companies may suffer as falling costs for finished goods drive further declines in the price of the raw material. The polysilicon spot price fell 28 percent in June, according to New Energy Finance.
Hedge funds including Segrich’s that helped push short positions in Yingli Green Energy Holdings Co. and Trina to the highest in a year over the past six weeks may regret their decisions, said Jenny Chase, New Energy Finance’s lead solar analyst. She expects lower panel prices to make more projects profitable, pushing annual installations to about 24 gigawatts this year compared with 18 gigawatts in 2010.
Directors leading audit committees quit LDK Solar Co. on July 18 and at its rival Trina Solar Ltd. on July 12. Moody’s Investors Service on July 11 cited “accounting risks” at five Chinese companies including LDK. Muddy Waters LLC, a Hong Kong researcher, on June 2 accused Sino-Forest Corp. of inflating its timber production.
Those events widened doubts about the solar industry, which already was struggling with falling demand and prices, said Shawn Kravetz, chief executive officer at Esplanade Capital. Eight Chinese companies in the 17-member Bloomberg Large Solar Index have declined 13 percent since the Muddy Waters note, depressing share valuations to less than half the average Hong Kong’s benchmark share index.
“There is a little bit of the Muddy Waters phenomenon here, be careful of all Chinese companies,” Kravetz said by phone from Boston. “Some multiples are so low because they are mirages. If you get up close, the reason the earnings look so cheap is because the earnings won’t be there.”
Multiples of stock prices to earnings forecast for this year are 2.8 at LDK, 6 at Trina and 3.4 at Renesola Ltd. as of July 19. That compares to 11.8 times on the Hang Seng index of 46 companies.
Prices Tumble
Prices for photovoltaic panels and their components tumbled as much as 31 percent in June from the previous month as manufacturers tried to shift their stock while demand declined in Germany and Italy, according to Bloomberg New Energy Finance.
“You run through the spot pricing and they can’t make any money,” said Gabelli & Co.’s John Segrich, who runs the best- performing clean energy fund over the past year among 75 tracked by Bloomberg. “There’s a real mismatch between reality and what the estimates show you.”
The solar index has fallen 29 percent in the last three months, leaving it at 8.5 times expected 2011 earnings for its 17 members. The S&P 500, which trades at 13.3 times, has gained 1.1 percent over the period. The Hang Seng lost 6.9 percent.
Renesola, a solar wafer maker whose sales more than doubled last year, is down 33 percent in New York trading since June 2 when Muddy Waters founder Carson Block published his note on Sino-Forest. Trina has fallen 14 percent and LDK by 9.2 percent.
Renesola’s Reply
Renesola Chief Executive Officer Li Xianshou said analysts’ profit forecasts for the company were inflated after Germany and Japan pledged to shut nuclear plants after the Fukushima reactor meltdown in March.
“We are more objective and realistic about the market,” the Renesola executive said in a July 14 telephone interview. Spokesmen for LDK and Trina didn’t respond to calls seeking comment.
The Chinese companies are trading at lower multiples than rivals in the U.S. and Europe. First Solar Inc. of Tempe, Arizona, trades at 13.2 times estimated earnings, Solarworld AG, based in Bonn, Germany, at 11.1 times and Solaria Energia y Medio Ambiente SA of Madrid at 23.6 times.
Analysts expect Renesola of Jiashan, China, to post profit of $137 million this year, 15 percent less than four weeks ago, according to a Bloomberg survey. The forecast for LDK slipped 7.9 percent to $311 million and the outlook for Trina declined 5.5 percent to $239 million.
‘Accounting Risks’
Moody’s on July 11 named LDK, the world’s second-biggest panel maker by sales, as one of the companies with “accounting risks” about corporate governance. Trina, which makes solar wafers and modules, plunged 8.5 percent the following day after the head of its audit committee resigned.
LDK on July 18 said Louis Tung-jung Hsieh, an independent director who led its audit committee, resigned and was replaced by Bing Xiang. The shares have lost 36 percent this year. Kravetz allowed the options he held on LDK shares to expire on July 15, he said in an e-mail.
“The market conditions are very touchy, and anything like that gets sold off very quickly without any questions,” said David Li, the Hong Kong-based co-manager of the Impax Asian Environmental Fund who helps manage about $3.5 billion and avoids solar stocks because of their volatility. “The reaction I feel is excessive.”
China’s solar companies have been booming even though the rest of the industry is struggling. The nation has doubled solar panel output in the past five years, helping increase global capacity by 9.5 gigawatts this year to 41.5 gigawatts, according to New Energy Finance.
Renesola this year is aiming to almost triple its output of polysilicon even after a tumble in the price of the raw material for solar cells.
Short Positions
Segrich, who manages $150 million of assets across the top- ranked Gabelli SRI Green Fund and a hedge fund, said his biggest short positions, anticipating price declines, are in polysilicon makers including Wacker Chemie AG and OCI Co., which trade at 11.1 and 8.2 times expected earnings.
He said those companies may suffer as falling costs for finished goods drive further declines in the price of the raw material. The polysilicon spot price fell 28 percent in June, according to New Energy Finance.
Hedge funds including Segrich’s that helped push short positions in Yingli Green Energy Holdings Co. and Trina to the highest in a year over the past six weeks may regret their decisions, said Jenny Chase, New Energy Finance’s lead solar analyst. She expects lower panel prices to make more projects profitable, pushing annual installations to about 24 gigawatts this year compared with 18 gigawatts in 2010.
2011年7月17日 星期日
The Senta "locatorosoknál"
Even just to sleep at three in the beginning of this year's Summer Youth Games. In the July 19 to 23 between the 12th Festival celebrates five days, five stages, some 150 large and small artist, band and DJ gig bulizhatják themselves for our young people. In addition, of course, many other gourmet snack spiritual realm can also try one of the greatest gig, which is essentially seven years altogether 77 years everyone will find himself in the program. Of these, above all, are removed from the Szeged University Summer School, called the location (Folk tent), where the afternoon of the university staff, teachers of the social history lectures to listen to the visitors, but also will be film screenings and the featured film-related conversations.
Felsorolásunkból accidentally left out of the realm Don Bimbo, a site not yet live, where any moment of the day worth bekukkantani, and sooner or later you will not be dragged away the man. Buds this year, too many delights await the visitors. Of course there will rockest, karaoke party, we will look at several concerts and theatrical films, and the teams are presented in their theatrical productions as well. On Friday afternoon, 16 am to present here Szögi Csaba our menu daily co-worker, Elijah reached Estonia and Gruia Zsuzsa of the Holiday Park, or the games for ten years in his book, which, after long and harsh labor finally got published. In addition, several non-governmental organization NGO Village learn about the activities of the festival who, for various crafts also can try. In previous years, the event will be present at the Senta Locator activists, who this year organized a selective garbage collection and asked visitors to the festival, more and more people to contribute to the akciójukhoz. The initiative in the Games, teams can participate, and that they be rich in valuable points collected and transferred to bottles, caps and boxes.
The Senta "locatorosoknál" at this year's festival will also determine the size of our ecological footprint, meaning that every day how "talpalunk into" the planet's physical (and spiritual) world.
Returning to the team for this year 33 companies keen to compete with each other. The candidates this year was no easy job until they reached the time to participate in the quizzes. Buy a job as a witty team name and team flag kiötlésén also had to plan for preparing kabalafigurájukat, csapatindulót had to write, had to prepare a team photo, in addition to more troops on Facebook, "Félix" had to collect. The team tournaments and sportvetélkedőt otherwise Wednesday and Thursday at 9 am and 12 pm, a cultural quiz on Thursday 14 and 16 hours, the troops in theater productions and on Wednesdays and Thursdays between 16 and 17 will be held. On Friday, 10 am to 12 noon portyajátékon the teams participating in the center of the park in the afternoon and held the finals for cultural and sports competitions, and the announcement of the results will be held Saturday at 16 o'clock. This year the teams will attend a night mission. The "mission" starts at 10 pm on Wednesday. This year, along with the Red Cross charity campaign will be organized during the festival. The teams and stakeholders are invited by the organizers to get more grown clothes, books and games on a shelf porosodó compiled, and this transfer on July 19, at seven o'clock in the Garden's Zenta.
Of course, the good songs tension bands, singers aranytorkú without any party will eventually become boring. The games this year, organizers also exposed themselves to all prestigious music performers bulizhassanak young and everlasting youth. This year, the Argies and 30Y, the Dalriada of Belgium, Demjén Francis, the Alvin and the Chipmunks, the Never Green, Orthodox Celts, the Road, in Aurora, Perpetuum Mobile, Gangxsta Zolee and cartels, the Problems of Time Machine, the Republic and the Mystery Gang bands take to the big stage, but it is worth visiting the Dance Arena, where renowned DJs (Sterbinszky, Bárány, Wallas etc) before emerging bands can occur, such as, inter alia, the Frontembers, Purple Haze, a metallicum the SKAgetHER the Sleazy Strain etc The Little Theatre at the Yellow Spots, in dim light, the black sheep of the Juci not the Turbo, the Insane, the Narco Polo, Anselmo Crew, etc. Skatch. bulizhatnak concert of the Games visitors.
This year's festival, fans of the sport was left disappointed, because on July 20, 18 am to the Turkish Kanizsa counts (Grofovi) and Szeged Bats assistance of American football can view a presentation on the main stage in front. Finally but not least, by chance, we'll be down there too. Wednesday morning, a young camper's garden party on the first day of the fatigue kipihenése you have read the "players" of Hungarian words, but of course the mother's journal also reported regularly to the people going buliról garden under the trees.
Felsorolásunkból accidentally left out of the realm Don Bimbo, a site not yet live, where any moment of the day worth bekukkantani, and sooner or later you will not be dragged away the man. Buds this year, too many delights await the visitors. Of course there will rockest, karaoke party, we will look at several concerts and theatrical films, and the teams are presented in their theatrical productions as well. On Friday afternoon, 16 am to present here Szögi Csaba our menu daily co-worker, Elijah reached Estonia and Gruia Zsuzsa of the Holiday Park, or the games for ten years in his book, which, after long and harsh labor finally got published. In addition, several non-governmental organization NGO Village learn about the activities of the festival who, for various crafts also can try. In previous years, the event will be present at the Senta Locator activists, who this year organized a selective garbage collection and asked visitors to the festival, more and more people to contribute to the akciójukhoz. The initiative in the Games, teams can participate, and that they be rich in valuable points collected and transferred to bottles, caps and boxes.
The Senta "locatorosoknál" at this year's festival will also determine the size of our ecological footprint, meaning that every day how "talpalunk into" the planet's physical (and spiritual) world.
Returning to the team for this year 33 companies keen to compete with each other. The candidates this year was no easy job until they reached the time to participate in the quizzes. Buy a job as a witty team name and team flag kiötlésén also had to plan for preparing kabalafigurájukat, csapatindulót had to write, had to prepare a team photo, in addition to more troops on Facebook, "Félix" had to collect. The team tournaments and sportvetélkedőt otherwise Wednesday and Thursday at 9 am and 12 pm, a cultural quiz on Thursday 14 and 16 hours, the troops in theater productions and on Wednesdays and Thursdays between 16 and 17 will be held. On Friday, 10 am to 12 noon portyajátékon the teams participating in the center of the park in the afternoon and held the finals for cultural and sports competitions, and the announcement of the results will be held Saturday at 16 o'clock. This year the teams will attend a night mission. The "mission" starts at 10 pm on Wednesday. This year, along with the Red Cross charity campaign will be organized during the festival. The teams and stakeholders are invited by the organizers to get more grown clothes, books and games on a shelf porosodó compiled, and this transfer on July 19, at seven o'clock in the Garden's Zenta.
Of course, the good songs tension bands, singers aranytorkú without any party will eventually become boring. The games this year, organizers also exposed themselves to all prestigious music performers bulizhassanak young and everlasting youth. This year, the Argies and 30Y, the Dalriada of Belgium, Demjén Francis, the Alvin and the Chipmunks, the Never Green, Orthodox Celts, the Road, in Aurora, Perpetuum Mobile, Gangxsta Zolee and cartels, the Problems of Time Machine, the Republic and the Mystery Gang bands take to the big stage, but it is worth visiting the Dance Arena, where renowned DJs (Sterbinszky, Bárány, Wallas etc) before emerging bands can occur, such as, inter alia, the Frontembers, Purple Haze, a metallicum the SKAgetHER the Sleazy Strain etc The Little Theatre at the Yellow Spots, in dim light, the black sheep of the Juci not the Turbo, the Insane, the Narco Polo, Anselmo Crew, etc. Skatch. bulizhatnak concert of the Games visitors.
This year's festival, fans of the sport was left disappointed, because on July 20, 18 am to the Turkish Kanizsa counts (Grofovi) and Szeged Bats assistance of American football can view a presentation on the main stage in front. Finally but not least, by chance, we'll be down there too. Wednesday morning, a young camper's garden party on the first day of the fatigue kipihenése you have read the "players" of Hungarian words, but of course the mother's journal also reported regularly to the people going buliról garden under the trees.
2011年7月14日 星期四
The economic and public health experts to take the cake
Started on Wednesday and Thursday to continue high school records for. The wish lists shown in the majors and earned final examination scores and the overall school mean score of the eight fighters split into the Ministry's central computer. Certainly not new to tell you when it is noted that this year the economic and health experts have proved to be popular, their almost filled the vacancies. The secondary schools did not complain, with few exceptions, all 30 candidates had the space.
The exceptions include the Hungarian high school faculty in Sombor, where six people were awarded 30 local recording. The Hungarian Division of the High School Kanizsai Turkish Informatics 30 seats in place 20 students listed on the main computer, and a similar proportion of Zentai High School specializing in social science, language. In 30 of 18 seats filled at the Hungarian-speaking eighth-grade students, specializing in general but there is a packed house of 60 seats for 60 people to get into. Sombor in the Hungarian pharmaceutical engineering class of 30 enroll in 29th place, only seats left vacant.
At least ten years ago, we were not present in the new rural Mihajlo Pupin Electrical Secondary School as this year. A real success story, the students wish-list of the 30 people listed in the computer Hungarian Division, and Márton Attila teacher is good chance to upload all the 30 seats.
The above-mentioned computer of electrical engineering in Sombor in the interest of the Hungarian branch of only three students shared a computer. Nagybecskerek health in high school and high school is filled to the establishment of the Hungarian classes. The central Banat in the computer of electrical engineering in an 16-class Hungarian and learn more.
The exceptions include the Hungarian high school faculty in Sombor, where six people were awarded 30 local recording. The Hungarian Division of the High School Kanizsai Turkish Informatics 30 seats in place 20 students listed on the main computer, and a similar proportion of Zentai High School specializing in social science, language. In 30 of 18 seats filled at the Hungarian-speaking eighth-grade students, specializing in general but there is a packed house of 60 seats for 60 people to get into. Sombor in the Hungarian pharmaceutical engineering class of 30 enroll in 29th place, only seats left vacant.
At least ten years ago, we were not present in the new rural Mihajlo Pupin Electrical Secondary School as this year. A real success story, the students wish-list of the 30 people listed in the computer Hungarian Division, and Márton Attila teacher is good chance to upload all the 30 seats.
The above-mentioned computer of electrical engineering in Sombor in the interest of the Hungarian branch of only three students shared a computer. Nagybecskerek health in high school and high school is filled to the establishment of the Hungarian classes. The central Banat in the computer of electrical engineering in an 16-class Hungarian and learn more.
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