{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

Solyndra Term Paper Kenneth Lingenfelter

5 million in compensation the worker adjustment and

Info iconThis preview shows pages 6–9. Sign up to view the full content.

View Full Document Right Arrow Icon
also dealing with disgruntle employees attempting to collect $3.5 million in compensation. The Worker Adjustment and Retraining Notification Act (WARN) of 1988 requires that covered firms provide affected employees with 60 days' advance notice of plant closings and large-scale layoffs. Under the federal Worker Adjustment and Retraining Notification Act 6
Background image of page 6

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
(WARN) and the California Labor Code, employees of Solyndra filed suit claiming for 60 days in wages and benefits. On August 31, 2011 Solyndra conducted mass layoffs for employees without providing them with an official written notice for the actions of the corporation. The WARN Act requires that Solyndra is to provide their employees with 60 days written notice in advance of a mass layoff or plant closing. In the absence of such notice, employers may be liable to each affected employee for 60 days wages and benefits. Approximately 13 months later the court held a Final Fairness Hearing and approved settlement for the amount of $3.5 million to those in the WARN class. Solyndra has completely disregarded ethical codes and their business ethics for employees and the corporations were untrained and adhered too. Solyndra should have thought about what business people speak about business ethics is they usually mean one of three things: avoid breaking the criminal law in one’s work-related activity; avoid action that may result in civil law suits against the company; and avoid actions that are bad for the company image. Businesses are especially concerned with these three things since they involve loss of money and company reputation. In theory, a business could address these three concerns by assigning corporate attorneys and public relations experts to escort employees on their daily activities. Anytime an employee might stray from the straight and narrow path of acceptable conduct, the experts would guide him back. Obviously this solution would be a financial disaster if carried out in practice since it would cost a business more in attorney and public relations fees than they would save from proper employee conduct. Milton Friedman’s Theory could be related to Solyndra is if the government would have left the corporation alone to its own device and leave speculation to market experts such as venture capitalists then what transpired in the closure of the firm and the loss of over half a billion in tax 7
Background image of page 7
payers’ money would not have happened. Many large corporations and several industries have adopted codes of ethics or codes of conduct to guide executives and other employees. The Sarbanes—Oakley Act requires a public company to disclose whether it has adopted a code of ethics for senior financial officers, and to disclose any change in the code or waiver of the code’s application. (Mallor, Barnes, Bowers & Langvardt, 2013 pg. 101) The question should arise if Solyndra understood or executed these ethical provisions? Over the course of six years Solyndra like any other corporation had initially established
Background image of page 8

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 9
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

Page6 / 10

5 million in compensation The Worker Adjustment and...

This preview shows document pages 6 - 9. Sign up to view the full document.

View Full Document Right Arrow Icon bookmark
Ask a homework question - tutors are online