[RE-wrenches] Magnum Energy sold to tax dodger

Allan Sindelar allan at sindelarsolar.com
Sun Sep 7 08:32:48 PDT 2014


Sensata manufacturers Dimensions Unlimited inverters. My understanding is that they're a big player in the mobile market - not RVs, but utility and service trucks. I'm concerned that they won't understand the unique needs of the off grid market and won't follow the advice of those already at Magnum who do. 
I was told that Clyde Yamamoto was to have remained in an advisory role for a year or so following the sale, but ended up leaving after one day.
Allan

www.sindelarsolar.com

> On Sep 7, 2014, at 7:46 AM, "frenergy" <frenergy at psln.com> wrote:
> 
> Bill,
>  
>         Interesting because at InterSolar in SF this June, they were still bragging about being made in the USA.  I guess you'd want to right up until: "Another one bites the dust"   (there's a song isn't there?)  It's getting terribly lonely out there for a US made offgrid inverter.
>  
> Bill
> Feather River Solar Electric
> ----- Original Message -----
> From: Bill Hennessy
> To: RE-wrenches
> Sent: Sunday, September 07, 2014 6:47 AM
> Subject: [RE-wrenches] Magnum Energy sold to tax dodger
> 
> hey wrenches, I suppose it's old news to you West Coasters, but saw yesterday that Magnum inverters has been sold for $60 million to a Mitt Romney conglomerate that shifted to the Netherlands to avoid paying US taxes. The new owner, Sensata, touts its "integrity" and comes with a rep of moving jobs to China.
> 
> 
> 
> SEC Info - Sensata Technologies Holding N.V. - 10-Q - For 6/30/14 - R22
> 
> SEC Info - Sensata Technologies Holding N.V. - 10-Q - For 6/30/14 - R22         
> Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 10 -Section 50 -Paragraph 1
> View on www.secinfo.com
> Preview by Yahoo
>  
> 
> 
> http://finance.yahoo.com/news/tax-dodge-used-bain-escapes-040100235.html
> 
> Tax Dodge Used by Bain Shifts U.S. Firms Abroad Without ...
> While its top executives are still based in Attleboro, Massachusetts, it's now known as Sensata Technologies Holding NV (ST) of the Netherlands. Treasury Department...
> View on finance.yahoo.com
> Preview by Yahoo
>  
>  
> Bill Hennessy
> Berks Solar, LLC
> 371 Centennial Rd
> Mertztown, PA 19539
> 
> o 610 682 4300
> c 484 560 4666
> NABCEP certified installer
> PA contractor #44411
> www.berkssolar.com
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