Solyndra bankruptcy plan draws opposition
Fremont-based Solyndra has been slapped with several objections to its plan to reorganize its finances, including opposition from Alameda County, the U.S. Energy Department and the Internal Revenue Service.
The objections come at the same time Solyndra is attempting to sell its solar equipment factory in Fremont. Solyndra has struck a deal to sell the plant to Seagate Technology for $90.3 million.
"The reorganization plan grossly understates the property taxes due" for Solyndra's properties, the Alameda County tax collector claimed in documents filed with the Bankruptcy Court in Delaware. The county added, "The plan fails to state that Alameda County is entitled to 18 percent interest on its secured property tax claim."
Separately, the Energy Department noted that Solyndra received a loan of $528 million in connection with the construction of the solar panel factory that is headed for a sale to Seagate.
Seagate hopes to complete its purchase of the Solyndra factory by early 2013.
Aehr sales rise as tech firm nearly breaks even
Fremont-based Aehr Test Systems lost $296,000 on sales of $4.8 million for its fiscal 2013 first quarter, which ended in August.
In the year-ago quarter, Aehr Test earned $124,000. Sales rose 17 percent.
Aehr, a maker of equipment to test semiconductors, also said it was at about the break-even point on cash flow.
Gasoline prices keep falling in Bay Area
Gasoline prices slid again Wednesday throughout the Bay Area and California, offering further relief for drivers in the San Jose, Oakland and San Francisco regions, according to the Gas Buddy online site.
The average price for gasoline Wednesday was $4.65 in the East Bay, down 1 cent from Tuesday; $4.65 in the South Bay, down 1 cent; and $4.73 in the San Francisco area, unchanged from Tuesday.
California gasoline prices averaged $4.65, down less than a cent.