avdave,
I think that you're forgetting one thing when you talk about profits. And that's the government (both at the federal and the local levels) incentives via taxes.
Now granted, with income taxes, one must first be showing a profit to be able to use those credits, BUT, remember, PHGI is also going to be getting some POWERFUL incentives at the local level too....a la property taxes. Now that's going to help them to lower expenses by quite a bit. If I'm remembering correctly, aren't they due to get about $40 million in local incentives?
And even with the Federal incentives, if a profit isn't generated the first year, those incentives can usually be rolled over to be used in later, profitable years.
I think that you really need to start realizing just how MUCH it means to have the government behind a company's endeavors.
And believe me, the government is totally behind the alternative energy movement.
Also, I think that your quotation marks around "management fees" was a rather cheap shot. It doesn't take a dummy to realize what you were trying to imply. That was not nice.
