Cree CEO Meets President Obama to Discuss Advantages of LED Lighting

[irishbobcat]

10 Clean Energy Picks Enjoying the Obama Effect 2 comments
by: Tom Konrad July 08, 2009 | about: AGQNF.PK / CREE / FAN / GE / ICLN / JCI / NFYIF.PK / ORA / TRN / WFIFF.PK     
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   Font Size: PrintEmail TweetThis This is the second performance update on my 10 Clean Energy Stocks for 2009. In the first quarter, the model portfolio was up a tiny 1.6%, but still managed to beat the benchmarks handily (by 8% and 9%), since they were both down significantly.

In the last three months, the market has turned around, logging significant gains, but my ten picks have continued to outperform.

Company  Ticker Change 12/27/08 to 7/2/09
Dividend & Interest

The Algonquin Power Income Trust AGQNF.PK +64.97% 8.17%
Cree, Inc. CREE +59.96%  
First Trust Global Wind Energy ETF FAN 21.88% 0.46%
General Electric GE -28.24% 3.88%
Johnson Controls JCI 22.14% 1.53%
New Flyer Industries NFYIF.PK +26.23% 5.98%
Ormat ORA +33.27% 0.44%
Trinity Industries TRN -21.97% 0.93%
Warterfurnace Renewable Energy WFIFF.PK +17.77% 2.16%
-2x S&P Depository Receipts + 3x Cash (was SDS until Feb 13) 3x $ - 2x SPY -14.45% -0.16%
Total Portfolio 27.05%
Benchmarks

S&P 500 2.59%
iShares S&P Global Clean Energy Index (ICLN) 13.95%

In the second quarter, the portfolio has added 16.5% relative to the broad market index, and 4.1% relative to the clean energy ETF, for a total of 24.5% and 13.1% outperformance for the first half.

I continue to attribute my outperformance to the Obama Effect, and the fact that clean energy has been outperforming the market as a whole supports this hypothesis. If it's not just luck, the reason I've been beating the clean energy ETF is also probably due to the Obama effect: my pick are concentrated on sectors which are not only green, but likely to deliver the biggest boost to jobs.

[Why?Town]

I didn't ask where their headquarters are located. I asked where they manufacture their products.

According to this link: http://finance.yahoo.com/q/pr?s=CREE, "Cree operates in Hong Kong, China, the United States, Korea, Japan, Europe, Malaysia, and Taiwan."

Would you have us believe that a company operating in those countries with a lower wage base than the US doesn't manufacture anything in those countries?

[irishbobcat]

Durham, North Carolina.....

[Why?Town]

Where does Cree manufacture their products?

[irishbobcat]

Cree CEO Meets President Obama to Discuss Advantages of LED Lighting
 

  Jul 2, 2009
Cree
   
WASHINGTON, D.C., July 2, 2009 - Today, Chuck Swoboda, chairman and chief executive officer of Cree (Nasdaq: CREE) joined President Obama at the White House to discuss the latest developments in energy-efficient technologies. Cree, based in Durham, North Carolina, is a market-leading manufacturer of LED (light-emitting diode) products.

Swoboda and seven other CEOs representing American companies at the forefront of innovation were invited to meet with President Obama to discuss American innovation in areas such as clean energy and the potential benefits to the U.S. economy.

In his remarks following the White House meeting, the President observed, "I just had a meeting with the CEOs of some of the most innovative energy companies in America to talk about growth and progress of a sector that represents a big piece of America's economic future.It's men and women like these who will help lead us out of this recession and into a better future. My job - and our job as a government - is to do whatever we can to unleash the great generative powers of the American economy by encouraging their efforts. And when you hear the innovation that's taking place - everything from LED lighting that can save a huge amount on energy costs to new concrete materials....that gets you excited about the future."

"With President Obama's support and the current momentum surrounding energy efficiency and sustainability, there are unprecedented opportunities for U.S. companies, like Cree, to deliver innovative technologies and products to address our current energy challenges," said Swoboda. "Twenty-two percent of US electricity is used for lighting and the widespread deployment of LED lighting can reduce this by more than 60 percent."

About Cree

Cree is leading the LED lighting revolution and setting the stage to obsolete the incandescent light bulb through the use of energy-efficient, environmentally friendly LED lighting. Cree is a market-leading innovator of lighting-class LEDs, LED lighting, and semiconductor solutions for wireless and power applications.

Cree's product families include LED fixtures and bulbs, blue and green LED chips, high-brightness LEDs, lighting-class power LEDs, power-switching devices and radio-frequency/wireless devices. Cree solutions are driving improvements in applications such as general illumination, backlighting, electronic signs and signals, variable-speed motors, and wireless communications.

For additional product and company information, please refer to www.cree.com
   

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LED Lighting, another positive energy saving device for America in the 21st Century!



Dennis Spisak

Mahoning Valley Green Party

Ohio Green Party



www.ohiogreens.org

www.votespisak.org/thinkgreen/