Solar energy, a relatively new type of way well to save energy with spending thousands of dollars. Let’s face it solar panels are extremely expensive, however, solar panels do save so much more energy and do not cause pollution. For any young person, starting a solar company is a brilliant idea for the reasons previously stated. Solyndra was one of the companies to hop on the ‘bandwagon’ in order to make some or well a lot of money (Continetti, M). In 2005, the creation of Solyndra begins by a man with the name of Gr. Chris Gronet in Californa, where solar panels are most frequently used. Gr. Chris Gronet’s idea was to make the tubular solar panels. The company looked as if it would extremely successful so a loan of a hefty five hundred and
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From the creation of the company, to around the year of 2009, Solyndra had a good run. First in 2009, February the company wanted and suggested a showcase in order to show off. In March of 2009 the loan from the DOE is granted. However, nothing good can last forever and in March of 2010, there were concerns that were brought about whether Solyndra was trust-worthy or even well enough to keep operating (Leonning, C, 2011) Then only a few days later, the president was cautioned to visiting the establishment, however, the President went on and visited saying it was a good establishment, before he saw it was a ‘healthy’ establishment, a confidential letter from Ronald Klain, the Chief of Staff for the Office of the Vice President, to various people in connection with the president stated “…the company’s cost structure will make it difficult for them to survive long term..” and “This is a very large red flag” all further proving the company is a bind and do not want people to know (Klain, R, 2011). Only nine months later the company discovered they were out of money and could not operate without money. In January of 2011, the OMB states that it is a risk in a political standpoint if they offer money to help with the situation and then again in January Solyndra learns they may be on a verge of shutting down. The DOE comes to help Solyndra and invest 75 million dollars in to the …show more content…
Who exactly will then? Oh, the U.S. citizens (taxpayers). Of the over five hundred million loaned, Solyndra stated they will only be providing twenty four million back. The government was never truly not prepared for Solyndra to pay back the loans, however, the issue is not good for the administration via Obama. Ethically, the issue is debated. First, the DOE knew before hand to where the company was already headed, next DOE paid the company, Solyndra so should DOE be at fault or should we take a look at the other side of the issue and look to where Solyndra is coming from. Solyndra had plenty options, but the option went with was not paying, firing everyone and as well keeping the money not being paid back. Solyndra during the time of success could of went through different routes in order to make a profit and not spend much, the CEO’s of the company were not looking for such thing, but the money income Ethically, it is wrong and now most people are unaware to what is actually happening and the government is taking the blame rather than Solyndra. Furthering the issue, Solyndra overall violated the loan’s terms. As previously stated the company has received many loans, however the one with the energy department was restructured in order to meet to different standards. After the loan was granted money issue seized for a little bit so a default was made on the loan, and the company was
From the creation of the company, to around the year of 2009, Solyndra had a good run. First in 2009, February the company wanted and suggested a showcase in order to show off. In March of 2009 the loan from the DOE is granted. However, nothing good can last forever and in March of 2010, there were concerns that were brought about whether Solyndra was trust-worthy or even well enough to keep operating (Leonning, C, 2011) Then only a few days later, the president was cautioned to visiting the establishment, however, the President went on and visited saying it was a good establishment, before he saw it was a ‘healthy’ establishment, a confidential letter from Ronald Klain, the Chief of Staff for the Office of the Vice President, to various people in connection with the president stated “…the company’s cost structure will make it difficult for them to survive long term..” and “This is a very large red flag” all further proving the company is a bind and do not want people to know (Klain, R, 2011). Only nine months later the company discovered they were out of money and could not operate without money. In January of 2011, the OMB states that it is a risk in a political standpoint if they offer money to help with the situation and then again in January Solyndra learns they may be on a verge of shutting down. The DOE comes to help Solyndra and invest 75 million dollars in to the …show more content…
Who exactly will then? Oh, the U.S. citizens (taxpayers). Of the over five hundred million loaned, Solyndra stated they will only be providing twenty four million back. The government was never truly not prepared for Solyndra to pay back the loans, however, the issue is not good for the administration via Obama. Ethically, the issue is debated. First, the DOE knew before hand to where the company was already headed, next DOE paid the company, Solyndra so should DOE be at fault or should we take a look at the other side of the issue and look to where Solyndra is coming from. Solyndra had plenty options, but the option went with was not paying, firing everyone and as well keeping the money not being paid back. Solyndra during the time of success could of went through different routes in order to make a profit and not spend much, the CEO’s of the company were not looking for such thing, but the money income Ethically, it is wrong and now most people are unaware to what is actually happening and the government is taking the blame rather than Solyndra. Furthering the issue, Solyndra overall violated the loan’s terms. As previously stated the company has received many loans, however the one with the energy department was restructured in order to meet to different standards. After the loan was granted money issue seized for a little bit so a default was made on the loan, and the company was