ArchiveFebruary 2011 Business
New Davos man
Behind the scenes in Davos, Chinese and Indian leaders made their voices heard. Both countries sent strong delegations to the previously Western-dominated forum.
Not the US – China and India cut the best figure at this year’s Davos economic showcase – By Hans-Jürgen Jakobs
Bill Clinton added presidential flair to this year’s World Economic Forum, regaling guests with anecdotes from his life. But it says a lot about the US superpower’s declining importance that the most impressive American in Davos was a former politician.
US Treasury Secretary Timothy Geithner delivered the usual Washington routine, which no one in Davos was particularly interested in. Cutting spending too deeply should be avoided, he said, because it would damage growth.
Doing well while doing good
A German-Canadian businessman is building the world’s largest solar plant in California – By Katja Ridderbusch
Uwe T. Schmidt likes to think big. He believes in big business, in an entrepreneurial spirit that can shift horizons – and mostly in the fact that a man can be doing well while doing good; for the environment, for example. “Capitalism and environmentalism don’t have to be mutually exclusive,” Schmidt said.
He plans to practice what he preaches. Born almost 50 years ago in England to German parents, Schmidt holds a German and a Canadian passport and today serves as Chairman and CEO of Solar Trust of America. His company is currently building the world’s largest solar plant near the city of Blythe, California.
Outshining the competition
How Germany’s solar industry is facing up to its Chinese rivals – By Wolfgang Mulke
Bayern Munich is a shining star in the German football firmament. That makes the internationally renowned team an interesting partner for Yingli Green Energy, the second-biggest Chinese manufacturer of solar panels. “The club is a very successful performer, and not just in Germany,” said company vice president Jason Liu, praising the Munich club. As one of Bayern’s new sponsors, Yingli aims to profit from the team’s reputation by winning German homebuilders as customers for their solar panels.
So far, Chinese companies have largely competed on price with the powerful German solar industry to attract customers. The consequences of the price dumping can be seen on the stock market. A few years ago, a share in German solar module manufacturer Q-Cells cost investors nearly €80. Today the price has plummeted to below €3. Pricing pressure and the sharp increase in worldwide production capacities have put the former market leader in solar energy under severe pressure.
Building your dream
“‘Oak full-on’ is what they call it today.” Helmut Sander knows that hardly anyone else shares his tastes these days.
Germans love do-it-yourself – By Nicole Graaf
The Sander family house is set back from the main road in a village outside of Cologne. A gray stone path leads to the front door, lined by flower beds filled with red gravel and nicely trimmed boxwood bushes.
An oak railing separates the front yard from the driveway that leads to the garage. Helmut Sander, 58, opens the door sporting short hair with swirls of gray and a friendly face. His wife Doris, is sitting in the living room where she is watching a TV program, a red brick wall behind her.