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Carmanah Technologies


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#21 VicHockeyFan

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Posted 21 August 2008 - 07:11 PM

It's simple math really.

Shareholders = good
Employees = bad

however...
Company - (all) Employees = zero (profit for shareholders)


Don't forget, you could sell assets even if you had no employees.

But seriously, shareholders own the company. And in the case of Carmanah, some of the employees were also shareholders. I see no problem.

#22 martini

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Posted 27 October 2009 - 02:33 PM

Carmanah trims payroll by 20
Solar firm misses aggressive sales targets, recession hits customers

By Carla Wilson, Times Colonist October 27, 2009
http://www.timescolo...9423/story.html
Solar lighting company Carmanah Technologies Corp. has cut 20 employees from its payroll -- including 14 at its Vic West head office -- after failing to make aggressive sales targets.

Sales have not met this year's projections and administrative staff are being trimmed following a major earlier restructuring, which included selling Calgary sign-lighting businesses, chief executive Ted Lattimore said yesterday.

The layoffs amount to a 15 per cent reduction in Carmanah's workforce, leaving the company with 110 employees -- 75 of whom are based in Victoria, Lattimore said.

Jobs were cut in sales and marketing, administration and accounting.

No cuts were made to the 35 research and development staff in Victoria.[...]

#23 Rob Randall

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Posted 15 September 2010 - 10:31 PM

press release

Sept. 14, 2010, 3:30 p.m. EDT · Recommend · Post:
Carmanah Announces Departure of Chief Operating Officer

VICTORIA, British Columbia, Sep 14, 2010 (BUSINESS WIRE) -- Carmanah Technologies Corporation announced today that it has accepted the resignation of its Chief Operating Officer, Philippe Favreau, effective today.

"Philippe has been instrumental in restructuring Carmanah and guiding the operation through this period to the current state of readiness for the emerging market demand in solar powered lighting," said Ted Lattimore, Chief Executive Officer. "We wish Philippe all the best in his future endeavors."

In response to his departure, Carmanah is redistributing Mr. Favreau's responsibilities and has no immediate plans for a successor.

About Carmanah Technologies Corporation

As one of the most trusted names in solar technology, Carmanah has earned a reputation for delivering strong and effective products for industrial applications worldwide. Industry proven to perform reliably in some of the world's harshest environments, Carmanah solar LED lights and solar power systems provide a durable, dependable and cost effective energy alternative. Carmanah is a publicly traded company, with common shares listed on the Toronto Stock Exchange under the symbol "CMH". For more information visit carmanah.com.

Carmanah Technologies Corporation

"Roland Sartorius"

Roland Sartorius, Chief Financial Officer

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#24 Sparky

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Posted 16 September 2010 - 12:25 PM

Executives say worst is over for Carmanah Technologies

Darron Kloster, Canwest News Service
Published: Wednesday, March 12, 2008

VICTORIA -- Carmanah Technologies Corp. reported an $8.9-million year-end loss Tuesday, but executives say the worst is over for the Victoria-based solar power and lighting company.

"We've weathered the storm of 2007 and have a stabilized approach to 2008 with a strong balance sheet," CEO Ted Lattimore told analysts in a conference call.


The worst is over. They only lost $2.7 million last year.

#25 VicBooster

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Posted 16 September 2010 - 01:29 PM

Trust the Times Colonist to nicely re-print a press release.

$2.7-million? No biggie. The worst is over, executives say.

Give me a break.

#26 Sparky

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Posted 16 September 2010 - 01:37 PM

^ The TC did not reprint it. This article was from Spring of 2008.

#27 VicBooster

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Posted 16 September 2010 - 01:50 PM

The 2008 article was a re-print from a press release.

I referred to that article and your point about last year's $2.7 million loss.

#28 Sparky

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Posted 16 September 2010 - 02:28 PM

^ Gotcha

#29 yodsaker

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Posted 16 September 2010 - 04:03 PM

I don't understand this company. They have some good innovative products to meet the market yet seem to keep changing management and don't make any money.

#30 Mike K.

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Posted 16 September 2010 - 04:48 PM

Sometimes success comes at too high a cost.

The original concept was a money-maker, and then the company struggled to maintain momentum as orders piled up and product variety increased.

And what I'm curious about is the company's technology that was being tested locally. I recall that a few years ago LED bus stops were being tested by BC Transit and then they suddenly disappeared.

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#31 Sparky

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Posted 16 September 2010 - 07:02 PM

^ So I called my friend at Carmanah tonight for his take. The $8.9 M loss in 2007 has been reduced to $2.7 M in 2009.

The Chief Operations Officer performed the task that was asked of him. There are a number of VP's that will carry on the processes that he has put in place.

They are debt free according to their Annual Report.

Perhaps all they need is a little more time. In all fairness, they are still a young company in an industry that is very young as well.

Share value has fallen from $4 to $.78........If they can turn even a small profit in the next couple of years.....just maybe...

#32 Holden West

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Posted 16 September 2010 - 07:46 PM

^I hope local businesses are buying from them. I see a lot of solar powered infrastructure, parking kiosks, crosswalk lighting...but I don't know if they are Carmanah products.
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#33 VicHockeyFan

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Posted 16 September 2010 - 07:50 PM

^I hope local businesses are buying from them. I see a lot of solar powered infrastructure, parking kiosks, crosswalk lighting...but I don't know if they are Carmanah products.


I think they are in the solar-powered LED business, not the stand-alone solar-electric power-supply business.
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#34 Sparky

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Posted 16 September 2010 - 08:03 PM

^ I think you are both correct. I will investigate over a Carona. They started out with marine beacons....then progressed to runway lights...they have more products on the horizon....I hope that more is not less.

#35 Sparky

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Posted 16 September 2010 - 08:10 PM

^ The CEO is an ex JDS Uniphase exec....skilled at IPO's.....in other words the cash/investment capital is put up by investors/shareholders....not banks.

#36 spanky123

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Posted 16 September 2010 - 08:20 PM

^ So I called my friend at Carmanah tonight for his take. The $8.9 M loss in 2007 has been reduced to $2.7 M in 2009.

The Chief Operations Officer performed the task that was asked of him. There are a number of VP's that will carry on the processes that he has put in place.

They are debt free according to their Annual Report.

Perhaps all they need is a little more time. In all fairness, they are still a young company in an industry that is very young as well.

Share value has fallen from $4 to $.78........If they can turn even a small profit in the next couple of years.....just maybe...


Not really apples to apples. The new management team really scaled back the business and sold off a number of their product lines.

Carmanah has money in the bank and isn't going anywhere. Their challenge though is remaining relevant in a world with probably 10x as many competitors as when they started.

#37 Sparky

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Posted 16 September 2010 - 08:26 PM

Not really apples to apples. The new management team really scaled back the business and sold off a number of their product lines.

Carmanah has money in the bank and isn't going anywhere. Their challenge though is remaining relevant in a world with probably 10x as many competitors as when they started.


Fair enough. I think Carmanah is in competition with a number of companies in Silicon Valley that are being subsidized with US government "Green Bucks".

#38 spanky123

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Posted 18 September 2010 - 11:26 AM

Fair enough. I think Carmanah is in competition with a number of companies in Silicon Valley that are being subsidized with US government "Green Bucks".


Carmanah gets its fair share of Government money. Most of their pilot projects in Canada are taxpayer funded from my reading.

#39 martini

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Posted 27 October 2010 - 12:29 PM

Carmanah shareholders stage revolt
Internal strife set off by plans to buy Israeli lighting company

By Andrew A. Duffy, Times Colonist October 27, 2010
http://www.timescolo...l#ixzz13apT3uFx

Carmanah Technologies is facing a revolt from within as a group of shareholders are fighting the company's plans to acquire an Israeli firm that manufactures components for LED lighting.

The company has received a request from a corporation purporting to hold 9.5 per cent of Carmanah's issued and outstanding shares for a special meeting of shareholders to vote on the takeover.



#40 martini

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Posted 11 November 2010 - 10:22 AM

Carmanah lays off 37, scrubs deal
Solar tech firm cuts 30% of jobs; purchase of Israeli company is off

By ANDREW A. DUFFY, Timescolonist.com November 10, 2010
http://www.timescolo...l#ixzz14zztyfzM

Carmanah Technologies dropped a bomb on its Victoria workforce Wednesday by announcing 37 layoffs and the cancellation of plans to buy an Israeli firm that manufactures components for LED lighting.



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