Solyndra Term Paper Kenneth Lingenfelter

Approximately 13 months later the court held a final

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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
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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 a promising organization that would create jobs and have an influence on the Energy and Recovery Policy Act. Solyndra’s government loan was supposed to facilitate 1,000 fulltime jobs for the fully functioning company, but instead the company would announce their plan for chapter 11 bankruptcy. Their unethically decision put many Americans in jeopardy without severance and no longer having health insurance to provide for themselves and their Family. Solyndra would release statements blaming the every changing economy in the industry and the major push by the Chinese to drive down solar panel prices in which would cause the company to collapse. In the end, the government conducted raids on the company’s chief executive, a founder, and a former executive in the pursuit that Solyndra had mislead the government is securing the $535 million loan and disturbing taxpayers money for years to come. "It’s not some
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