Posted on 11/03/2011 6:09:14 PM PDT by kcvl
Solyndra filing shows founder got $456,000 severance
Bankruptcy court filings show that former Solyndra CEO Chris Gronet left the company about two months before it was announced and had worked out a $456,000 severance.
A bankruptcy court filing this week showed that Solyndra LLC founder and former CEO Chris Gronet left nearly two months before it was announced in August and won a $456,000 severance when he was terminated.
The filings also show a $17,000 payment to the company's bankruptcy law firm in February, about two weeks before a controversial loan restructuring which put $385 million in taxpayer money behind $70 million borrowed from private investors.
Solyndra has been the focus of a number of investigations by federal agencies and Congressional panels since shutting down and filing for bankruptcy late in the summer. It received more than half a billion dollars in government loans and guarantees.
Its equipment is being auctioned off this week and another auction of its patents and other assets is scheduled for later this month.
(Excerpt) Read more at bizjournals.com ...
But he will never see the inside of a jail cell!!!
Someone tell me how you run a company into the dirt, get half a million in severance and not go to jail?????
Every last penny of this money needs to be accounted for,because I have a feeling that the DNC got a chunk of it.
And where is the oppositon party? Oh, that’s right! We don’t have one!
It’s the new normal in obamaville.
MMM MMM MMM
Severance? Was he sexually harassed?
BAARACH HUSEIN OBAMA!
That is the stash they was talkin about! We found the stash!
SOLYNDRA EXECS LEAVE WITH CASH. YOURS.
At The Corner, Andrew Stiles notes a report from Green Technology that Solyndra’s executives substantial bonuses shortly before their company declared bankruptcy, having run out of your money. The taxpayers likely will be stuck with a $530 million bill. Here is where some of it went:
Karen Alter, senior vice president of marketing, received two $55,000 bonuses on April 15 and July 8 of this year, on top of her $250,000 annual salary.
If it weren’t our money, this would almost be funny: how can you award someone in charge of marketing $110,000 in bonuses when the company wasn’t making enough sales to stay out of bankruptcy? Ms. Alter’s recent political contributions, according to Open Secrets:
* Barack Obama, $2,300.
* David Sanders (D), $1,000.
* Alan Khazei (D), $3,000.
Ben Bierman, executive vice president of operations and engineering, received $120,000 in bonuses this year on top of his $276,000 salary.
Mr. Bierman’s recent political contributions, per Open Secrets:
* Barack Obama, $2,300.
* DNC Services Corp., $1,950.
* Democratic Congressional Campaign Committee, $1,950.
* Democratic Senatorial Campaign Committee, $2,750.
* Priorities USA Action, $500.
* Women Vote!, $250.
Paula Camporaso, vice president of information technology — $80,000 in bonuses on top of her $107,000 salary.
Dave Sanat, vice president of supply chain — $80,000 in bonuses on top of his $111,000 salary.
http://www.powerlineblog.com/archives/2011/11/solyndra-execs-leave-with-cash-yours.php
Bill Stover, the company’s CFO who took the fifth before Congress at a September hearing, was awarded at least $120,000 in bonuses on top of his $367,000 salary.
And, finally:
The document also reveals that Chris Gronet, one of Solyndra’s founders, was “transitioned to the role of adviser and consultant” from his position as CEO on July 1, 2011, and negotiated a severance package worth more than $450,000.
Mr. Gronet’s recent contributions:
* Barbara Boxer, $1,000.
http://www.powerlineblog.com/archives/2011/11/solyndra-execs-leave-with-cash-yours.php
that is why the FBI rushed in and took over the files- we will never see them again
WHAT IS THE FBI DOING?
Severance pay is only important if it involves destroying a decent, hard working, kind, uplifting man who is being piled on by both the slugs of the Left and the Rino’s.
I am really starting to fear for this country. And, as most here believe...this country has been the world's best hope.
Oh, well...This will all play out. I would give a lot to get to time travel and see a future history book. Obama is the scam to end all scams. Makes Madoff look like a piker.
exactly!
We can “Obama Obama Obama” all we want, and believe me, he is the top crony of this nightmare... but where are OUR guys? No calls for impeachment, just endless month after month of “requests” and “investigations” and on and on.
It’s a fraking joke.
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