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Solyndra Term Paper Kenneth Lingenfelter

Solyndras major shareholder and one of president

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Solyndra’s major shareholder and one of President Obama’s campaign financier’s George Kaiser influenced the release of the $535 million. In addition, Solyndra continued to deny having 3
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financial issues bearing the fact would have proved to have signaled ethical dilemmas. The Department of Energy was not informed officially that Solyndra’s financial situation was inaccurate and abusing the ethical code for honesty. Solyndra failed to answer the simple guidelines for Ethical Decision Making: What facts impact my decision? Who are the Stakeholders? How do the alternatives impact society as a whole? What are the ethics of each alternatives? (Mallor, Barnes, Bowers & Langvardt, 2013 pg. 107) The decisions decided upon and business ethics not adhered too would prove disastrous for the years for follow for Solyndra. Solyndra is in the business for solar power solutions in which, focused on the cylindrical technology for the installation on rooftops. Their product was considered to consist of light weight, cost efficient and the quickest and easiest to install of all solar technology on the market. The company produced the majority of their product in Fremont, California and operated offices in Germany, Italy, France, and Switzerland. Solyndra began their corporation in 2005 as Gronet Technologies, Inc. by Doctor Chris Gronet as the CEO in the state of Delaware. After renaming the corporation to Solyndra in 2006, the company used the venture capital funding to raise $79 million in 2007. The shareholders involved in and backing the financial aspect is Virgin Green Fund, Rockport Capital Partners, CMEA ventures, and Madrone Capital Partners. The first manufacturing facility known as Fab1, would begin its installation on equipment for the purpose of high-volume production. Solyndra’s main focus during this time frame was concentrating on photovoltaic systems, research, development, and other equipment related to the overall manufacturing process. In 2008, Solyndra official announced that they would formally enter the solar power market with their latest design of the photovoltaic array that quickly spread amongst the solar power sector. Solyndra’s design provided hope for the company opening contracts with 4
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several solar power companies beginning with the Solar Power Inc. for $325 million through the year 2012. In additional, they also signed with Phoenix Solar AG, Germany for $681 million and with a solar integrator GeckoLogic in Welzlar, Germany. Through 2008, Solyndra proved to have established a profitable corporation with the great intentions in supporting and assisting with the Energy Policy Act of 2005. Solyndra, in 2009, became the first corporation to receive government funding and a loan guarantee from the U.S. Department of Energy under title 17 of the Energy Policy Act 2005. They would receive $535 million for the innovation technologies that reduced emissions of
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Solyndras major shareholder and one of President Obamas...

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