Wednesday, February 8, 2012

Sluuuuuurrrrrrrpppp: Danish Windmill Maker's Layoffs and Class Action Lawsuit in the US

A Danish article from 2006 when Jock Boganson was appointed Wind Ambassador for Vestas due to his royal daughter's Danish connections. Hey, he had to get paid back some how for underwriting her courtship with Derfie!

Maybe this article below is part of the reason why Professor Jock 'Half-Mast' Sluuuuuuuuurrrrrrppppppson is persona non grata in Denmark, both chez Mary and chez Daisy! In a tale that snares both Jock's position with Vestas as Wind Ambassador, the royal family's friend Ditlev Engel, CEO (and whose wife Marianne was assigned as Princess Marie's first Lady-in-Waiting), and Mary and Fred's failed Colorado visit in 2009 to a Vestas plant, seems that the Danish wind turbine manufacturer has had to lay off 1300 employees and is embroiled in a class action lawsuit in the US.

Yrma and Derf are just bad luck and do nothing for Danish interests overseas. Vestas, the Aamund restaurant in NYC is mysteriously (the website mentions opening in December 2011) shuttered after only being open for that party with the royals last fall and to top it off, Dana College in Blair, Nebraska, where Derfy got an honourary degree in 20009 on the same trip that took them to Colorado, is now bankrupt and closed for business since 2010. And so what's the business about this pair working hard at doing their homework and being so good for Danish business!?!?!?!?!?!

Crown Prince Frederik receiving an honourary doctorate in Humane Letters from Dana College in Nebraska. One year after this photo was taken, Dana College was shuttered.

At a Vestas plant opening in Brighton, Colorado outside of Denver in the US.

Article: 8 February, Copenhagen Post

Vestas Delivers Terrible 2011 Result

Three members of wind turbine maker's board, including chairman, announce their departure after declaring billion kroner loss

Wind turbine maker Vestas suffered pretax losses of 1.1 billion kroner in 2011, far higher than the 450 million kroner loss which was expected.

The numbers were announced on Wednesday and were followed by the news that chairman Bent Erik Carlsen, his deputy chairman, and the company's head of finance will leave after the annual general meeting in March.

The company had already lowered its earnings forecast, but after the loss turned out to be almost triple what was expected, the company has now decided not to publish its expected number of orders for coming years.

“After input from several of the company’s large shareholders, we have decided to reduce the number of parameters that Vestas publishes information about in 2012,” the company said in a press release.

Vestas share prices tumbled almost 15 percent overnight, wiping about two billion kroner off the company’s value.

Increased production costs and the postponement of major orders have been voiced as the major causes of the losses which stood in stark contrast to 2010’s pretax profit of 118 million kroner.

To tackle spiraling costs the company announced this January that they would be firing 2,335 employees of which 1,300 would be in Denmark.

Vestas CEO, Ditlev Engel, was spared in the management cull, but remains cautious about what 2012 will bring.

"2012 will be a challenging year, not least because we have to tackle two things at once," Engel told the Ritzau news bureau. "The first is an increase in activity from 2011. At the same time we have to be prepared for 2012 being a challenging year, not least because of what is happening in the US."

1 comment:

  1. Ahhhhhh ... now I understand why John Dumbassson can't show his face in Denmark. Makes perfect sense. Poor Vestas ... depending on the wrong windbag. Try the CPss, Vestas, she's full of it ...