In a recent investor conference call, Darren Jamison (President, CEO & Director of California-based Capstone Turbine Corporation) was asked about the status of an Ecuador deal – described as a “large megawatt opportunity” for the company.
Jamison stated:
“That deal has been put on hold for now. There’s another wave of corruption that unfortunately hit the Ecuadorian government. We’re hopeful that once things settle down, new folks will be put in place that, that opportunity will come back. But right now, I’d say that, that opportunity is on hold. And I will say that Capstone takes Foreign Corrupt Practices Act, or FCPA, very seriously. And we do have a zero-tolerance policy. So we do get into areas where there is potential corruption or graft, we have to separate ourselves from those opportunities.”
The question is posed: does this represent an FCPA success or failure? Who wins from Capstone Turbine’s decision? Who loses?
