the elephant in the room

Here are some negatives:
1. Fukushima Daiichi etc
2. Capital dilution
3. Bots
4. Margin selling?
5. General market malaise
6. Little or no news flow
7. Concern re Residential solar industry
8. Angry spouse!

On the bright side:
1. No debt, indeed fully funded
2. No news re uranium enrichment is to be expected
3. Prospect for large scale solar better
4. Stock has already fallen 50% from recent highs
5. Coverage from buy side brokers increasing with target price much higher than current market price

However, what seals it for me is a NYT article reprinted in today's SMH.
I copy below and remind readers that the big picture (1.341 billion elephants?) is still intact (which is what GE/GEH I'm sure have not forgotten):

Raining on China's power parade

Date: June 24 2011


Keith Bradsher
HEAVY rains that hit in central China last week will help produce extra hydroelectric power - but not enough to avoid severe electricity shortages this summer, Chinese officials have said.

Many factories in the country's export-oriented eastern provinces are already losing daytime electricity from the grid for one to three days a week, forcing them to operate at night, use costly diesel generators or reduce output.

The national grid has given priority to maintaining electricity supplies for residential customers, particularly in cities.

But in small towns and rural areas, many homes are losing power needed for the more than 100 million airconditioners, washing machines, refrigerators and other appliances sold since the start of 2009. Those purchases were aided by government subsidies aimed at narrowing the gap in the standard of living between cities and the rest of the country.

The official newspaper, China Daily, reported on Tuesday that large office buildings in Shanghai would be asked to turn off their airconditioning for an hour this summer, each time the outdoor temperature exceeded 35 degrees.

As well as the factory blackouts, non-industrial businesses in Shanghai, such as stores, will be asked to close when the temperature climbs above 37 degrees, the newspaper said.

The deputy director general of power market regulation at the State Electricity Regulatory Commission, Liu Baohua, said that because of heavy rain the outlook for hydroelectric power was ''much better'' than earlier this year but demand was unprecedented.

Hydroelectric dams represent 22 per cent of China's power generation capacity but need full reservoirs to reach that capacity.

Drought in large areas of China reduced hydroelectric output in the first half of this year.

A larger problem has been electric utilities delaying the completion of new coal-fired plants and operating their existing ones below full capacity to protest against the government's refusal to allow them to raise prices. Those plants represent 73 per cent of the Chinese power generation capacity.

Coal prices have surged in the past two years but, to fight inflation, the government has allowed only minimal rises in electricity prices paid by homes and businesses.

The New York Times