Solyndra Inc., a California developer and manufacturer of cylindrical solar systems for commercial rooftops, announced in a press release on its website that it was filing for Chapter 11 bankruptcy and laying off approximately 1,100 employees. This doesn’t sound too abnormal, especially considering the near past and current economic conditions; but one of the details left out of the release was that Solyndra was funded in part by a $535 million government loan in partnership with the Department of Energy (DOE). After announcing its closing, the Federal Bureau of Investigation (FBI) and the DOE raided Solyndra and were photographed leaving the building with boxes. Reasons for the raid were not given, but allegations of fraud/wrongdoing are being circulated by mainstream media, as well as allegations that the Obama administration had rushed the approval process of the loan, despite concerns that were raised.
Whether the allegations are true or not remains to be seen, but there is a valuable lesson to be learned about rushing things — don’t. Whether you are an HVAC technician installing a system, a contractor making a business decision, or a president running a country, rushing is not a good way to approach problems. Things often get overlooked and sometimes those overlooked items have grave consequences. Like the friar in Shakespeare’s Romeo and Juliet once said, “Wisely and slow; they stumble that run fast.”