Subsidized, Bankrupt Solyndra Managers Got $368,500 in Court-Ordered Bonuses

Subsidized, Bankrupt Solyndra Managers Got $368,500 in Court-Ordered Bonuses
By Fred Lucas
April 16, 2012

Solyndra is the company that was loan-subsidized by the ObamaGovernment and then went bankrupt.
They received $535 million in loan guarantees from the U.S. Government)

That bankruptcy led to 11,000 layoffs.

However, in all fairness to the executives and key employees that (may have) helped create that bankruptcy and loss of taxpayer money and 11,000 layoffs, the bankruptcy court has awarded bonuses to those responsible for the boondoggle.

The court ordered bonuses involved more than 20 people and ranged from $10,000 to $30,000.
Their "earned" base pay salaries were more than $2.5 million before bonuses.

Of course Solyndra is in Chapter 11 bankruptcy which means they are restructuring.

Rumor has it that shareholders and executives of Solyndra donated and raised big money for the 2008 Obama campaign.

There is a list in the article.

(CNSNews.com) – A bankruptcy court ordered $368,500 in bonuses for 20 top managers and employees of Solyndra, the solar panel firm that received $535 million from taxpayers two years before filing for bankruptcy and laying off 11,000 employees. The bonuses kicked in on March 31.

The 20 high-level workers earned a total base pay of $2.49 million before the bonuses. One of the executives earned a base annual salary of $206,499 and received a $30,000 incentive under the court order handed down on Feb. 22 by U.S. Bankruptcy Judge Mary F. Walrath in Delaware.

Another executive earning $189,000 in base pay was awarded a $20,000 bonus and a third, who earned $190,800, received $15,000 more.

Nothing like "Green" energy in the form of $100 bills !!

I wonder what kind of carbon footprint is produced when printing money ?

It's straight up in your face corruption, and it's being aided by the legal system. Their actions are pretty much saying we'll do what we want. But nobody seems to notice, nobody seems to care.

Clearly, the government should not fund any innovative projects ever and we should just rely on the private sector oil companies to come up with alternatives fro their products.

en.wikipedia.org...

www.foresight.org...

Originally posted by stanguilles7
Clearly, the government should not fund any innovative projects ever and we should just rely on the private sector oil companies to come up with alternatives fro their products.

It's a scam, a classic con game.

You've been robbed !!

Don't fall for it.

Private industry with private investors have come up with stuff on their own, without the graft and corruption !!

This is an ObamaScam.

Originally posted by xuenchen

Originally posted by stanguilles7
Clearly, the government should not fund any innovative projects ever and we should just rely on the private sector oil companies to come up with alternatives fro their products.

Private industry with private investors have come up with stuff on their own, without the graft and corruption !!

Totally with ya there, bub.

The private sector has provided us with all the advances in technology we enjoy. Well, except for the internet. And the military. And roads. And oil exploration. And all other sorts of technology which we woudnt ejoy today without government-funded R and D.

So whens Obama going to have a Beer with the Taxpayers of the United States,to smooth this over ?

This is absolutely SICK.

Basically, the government has funded R & D for decades. But if Obama does it, I agree, its BS, cuz I hate Obama and anything he does, even if its no different than anything done since the end of WW2. Because Obama is a stupid face.

reply to post by stanguilles7


The difference is this. With so much waste,with as much debt Obama has made,and the promise of "transparency",and "Hope and CHANGE", nothing has CHANGED. I could actually make the case,it is worse. He doesn't even take responsibility for backing a bankrupt company.

reply to post by sonnny1


I am TOTALLY AGREEING with you. Obama is a big stupid face, and so if he does it, I hate it. Period.