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Legal And Ethical Dilemma Paper

818 Words4 Pages

Solyndra, a California based solar panel manufacturer was established in Silicon Valley in 2004. The intent of the company was to build solar panels without the use of polysilicon. Solyndra wanted to be able to compete in the market for solar panels by having quality products that were a little more expensive than their competitors; however, they were a little cheaper to install. Their products were to be tube shaped solar panels made of copper indium gallium selenide (CIGS) with an attempt to dominate the green technology movement. Founded by Chris Gronet, the company operated out of Fredmont, California. It was the Obama Administration that gave Solyndra a $535 million dollar loan to help establish and compete in the market for green energy. The beginning of Solyndra Company was an attempt to re-establish jobs in America considering the fact that they were being cut left and right. Although the company was highly praised during its first debut, little did they know that their journey would fall short to legal and ethical issues that they did not plan for (Weiner, 2012). This essay will discuss these legal and ethical issues that Solyndra encountered as they were fighting to restore jobs and prosperity back in America. Additionally, this essay will discuss how the philosophies of Milton Friedman influenced the executives of the company. Last, this …show more content…

In addition to the $535 million that was given to Solyndra, they also received $34.7 million in sales award to use for tax exemptions. Of the $34.7 million that was awarded to them, they ended up using $25.1 million before filing for bankruptcy on September 6, 2011. Officials tried to recover a part of the sales tax revenue; however, Solyndra owed nothing to the state and were unsuccessful at the attempt (Wallechinsky,

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