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  1. #1 Bankrupt Solyndra seeking to pay bonuses 
    LTC Member Odysseus's Avatar
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    Court’s OK sought for ‘incentive plan’
    By Jim McElhatton
    -
    The Washington Times
    Wednesday, January 11, 2012
    Now seems an unlikely time for handing out bonuses at bankrupt Solyndra LLC, but that's the plan of company attorneys intending to dole out up to a half-million dollars to persuade key employees to stay put.

    Nearly two dozen Solyndra employees could receive bonuses ranging from $10,000 to $50,000 each under a proposal filed by Solyndra's attorneys in U.S. Bankruptcy Court in Delaware.

    The attorneys say the extra money will add motivation at a time when workers at the solar company have little job security and more responsibilities because so many of their colleagues have been fired.

    The names of the bonus-eligible employees are not disclosed in the court filings that outline the bonus proposal. None of the employees is among the so-called corporate "insiders" — top officers or members of the board of directors, records show.

    The proposed bonus recipients include nine equipment engineers, six general business and finance employees and up to two information technology workers.

    The biggest bonus, for $50,000, would go to a Solyndra employee whose job title is listed as a senior director with a base salary of $206,499 per year. Two senior managers stand to receive bonuses of $30,000 and $32,500.

    Bankruptcy attorneys said the so-called "key employee incentive plan" aims to keep important personnel from leaving the company.

    http://p.washingtontimes.com/news/20...bonuses/print/
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    Yes, keeping important people from leaving a company that doesn't produce anything and has already filed for bankruptcy is absolutely critical to its future capabiliy to go out of business, especially since those bonuses will be coming out of the taxpayer-funded "loans" that are their only source of operating revenue, and which we will never get back. Wasn't the payment of bonuses to executives at failing companies one of the outrages of the financial crisis that enraged progressives? Oh, wait, the guys getting the bonuses are progressives. Nevermind, nothing to see here. Move along...
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  2. #2  
    Sin City Moderator RobJohnson's Avatar
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    It sounds like the right thing to do. :p
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  3. #3  
    Senior Member txradioguy's Avatar
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    Your tax dollars at work
    In Memory Of My Friend 1st Sgt. Tim Millsap A Co, 70th Eng. Bn. 3rd Bde 1st AD...K.I.A. 25 April 2005

    Liberalism Is The Philosophy Of The Stupid

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    The libs/dems of today are the Quislings of former years. The cowards who would vote a fraud into office in exchange for handouts from the devil.
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  4. #4  
    Senior Member Janice's Avatar
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    The scum of the crop ... rises to the top ...

    in 0bamalands ghetto... formerly known as the USA.
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  5. #5  
    Senior Member Zeus's Avatar
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    Quote Originally Posted by RobJohnson View Post
    It sounds like the right thing to do. :p
    In all actuality it is a sound move. Regardless of all the scamnming and BS surroumnding the Solyndra fiasco they need to keep some of the folks around to make it through the Bankruptcy proceedings. It does sound like none of the major scammers are in line for the bonuses
    The 21st century. The age of Smart phones and Stupid people.

    It is said that branches draw their life from the vine. Each is separate yet all are one as they share one life giving stem . The Bible tells us we are called to a similar union in life, our lives with the life of God. We are incorporated into him; made sharers in his life. Apart from this union we can do nothing.
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  6. #6  
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    This is a viable plan IF Solyndra is planning on Chapter 11. If they are planning to liquidate under Chapter 7, it is not viable move.
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  7. #7  
    LTC Member Odysseus's Avatar
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    Quote Originally Posted by Zeus View Post
    In all actuality it is a sound move. Regardless of all the scamnming and BS surroumnding the Solyndra fiasco they need to keep some of the folks around to make it through the Bankruptcy proceedings. It does sound like none of the major scammers are in line for the bonuses
    They've already gotten theirs. The taxpayer-funded loans covered all manner of payouts to the investors and officers of the company.
    --Odysseus
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    Before you can do things for people, you must be the kind of man who can get things done. But to get things done, you must love the doing, not the people!
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