In honor of the World Series, First Wind IPO is going, going … gone!

Batter Up!

– Over at Breaking Wind on October 24 we noted that First Wind wanted to trade on NASDAQ.   Michael Hennessy, a wind energy analyst at Bloomberg New Energy Finance in New York City, made this comment in the The Kennebec Journal, “It will be read as a vote of confidence or a vote of no confidence for the industry.”  We suggested perhaps the vote might be seen as “reflecting the confidence investors have that elected officials will continue to support this ridiculous technology with continued mandates and tax subsidies.”

Here comes the pitch – Strike One!

– This morning we posted that “First Wind cuts forecast on proceeds from IPO”signaling that, just over the last couple of days investors might not be knocking down the door.

Here comes the pitch – Strike Two!

– Just a couple of hours later, we catch this post over at the Industrial Wind Action Group – First Wind pulls IPO, shares of two others rise, suggesting that investors didn’t even come to the door, let alone knock.

Here comes the pitch – Yer Out!

– First Wind, heading to the dugout, was heard to mutter that “The terms that the IPO market was seeking at this time were not attractive to the company.”  Well, we don’t think it was a bad call.  We just happen to think investors are pretty savvy folks.

And that folks, is how a strike-out for First Wind is actually a HOME RUN for those of us who happen to believe industrial wind has no position to play in the US energy game’s major league.

This entry was posted in Cape Wind, offshore industrial wind, Wind Energy Shenanigans and tagged , , , . Bookmark the permalink.

One Response to In honor of the World Series, First Wind IPO is going, going … gone!

  1. Lenny61 says:

    Great play on words. Exactly correct. If investors knew the truth about wind energy (expensive, inefficient, heavily subsidized and filled with health affects on residents within a mile of large industrial wind turbines) they would not invest a penny of their money. Even if the investor had money to throw away it is not a good investment. I am not mesmerized by the work “green” nor am I a wind company executive. I am a victim of wind energy. Trust me I know the real facts.

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