Posted on 11/05/2011 10:09:43 AM PDT by NoLibZone
Solyndra executives were awarded quarterly bonuses worth up to $60,000 apiece earlier this year as the California solar-panel company headed for bankruptcy, court documents show.
Documents filed by the company in U.S. bankruptcy court in Delaware show the well-paid executives at the firm were given bonuses in April and in July, just months before the company filed for bankruptcy in September and laid off 1,100 workers.
The details add to the narrative of what was happening behind the scenes in the year leading up to the company's financial collapse, though congressional Republicans investigating the matter are looking for more details. After the Obama administration turned over 20,000 pages of documents earlier this week pertaining to Solyndra, House Republicans on Thursday night served the White House and vice president's office with a subpoena for more Solyndra documents.
"Unfortunately, we had to take this step after the White House has continued to slow walk the production of documents necessary for this investigation by only releasing selected documents and records," said Rep. Cliff Stearns, R-Fla., chairman of the House Energy and Commerce subcommittee investigating Solyndra.
The White House denies slow-walking anything, noting that it just submitted thousands of Solyndra documents earlier this week. "We'd like to see as much passion in House Republicans for creating jobs as we see in this investigation," White House spokesman Eric Schultz said Thursday.
According to the documents, chief financial officer Wilbur Stover was awarded a $60,000 bonus in April and in July. So were executive vice president Ben Bierman and senior vice president John Gaffney. Other executives enjoyed slightly smaller sums - marketing executive Karen Alter was awarded $55,000 in April and in July; Vincent Valentin, another vice president, earned two $44,000 bonuses.
A representative with Solyndra did not return a request for comment Friday from FoxNews.com.
(Excerpt) Read more at foxnews.com ...
Now someone needs to see how much they contributed to Obama 2012 and the DNC since then.
Yes, the company is floundering, headed for bankruptcy, and the people in the best position to recognize these facts are awarded bonuses.
This, folks, is how the Left funds itself. If we ever get a full Republican administration and Congress, ALL of these scams should be investigated, and the perps should end up in jail (while returning the stolen funds to the taxpayers.)
(my tagline is relevant here)
Well...gee.....Freddie Mac operates the SAME way....be a failure and give out massive bonuses....and then go ask for more BILLIONS from the taxpayers! When does the TAX REVOLT START?????
I’ve heard it said that the documents concerning Solyndra pertained to the operation of the plant and not the finances and where the money went.
If I weren’t afraid to be singled out by DHS, TSA, I’d say the tax part of the Revolt question you ask is superflous. Just an outright revolution to get rid of these people. However it is necessary.
The bonuses don't amount to skimming pennies out of the till.
From the stockholders point of view they deserved these bonuses.
They successfully passed this turkey off on the tax payers.
quarterly bonuses ???
Well with only those names getting quarterly bonuses that amounts to $558,000 (1/2 million). How many more execs received quarterly bonuses?
More documents please!
The taxpayers should sue these theives!
The $60,000 bonuses were QUARTERLY!!! That’s $240,000 a year in bonus money!! How many executives got a Quarter of a MILLION DOLLARS????? Shouldn’t be ANY, but I’ll bet it’s in the tens.
of course they did... who better to know it was going toes up but them so they got theirs first
Some earn that and much more, and I mean earn it--like the guy who positioned Exxon Mobil to make billions because he had invested in drilling when oil prices were in the doldrums for a decade.
But when your company is failing, that is another story.
It reeks of looting government loan money and laundering it through a company whose books will soon be closed--apparently doomed to fail by those who got the bonuses, in this instance.
It is a short leap of intuition to surmise that large government guaranteed loans might be laundered through such companies and their subcontractors or vendors, with the appropriate kickbacks and baksheesh going around to move large sums from the public coffers into more private hands.
The question becomes one of not just Solyndra, but how many other operations like this were going on, how many other companies which got large loans and small have failed and left the taxpayers holding the bill?
Like "Fast and Furious", I think what we see is just the tip of the iceberg.
Any info as to whether or not ex-CEO Brian Harrison received any bonus?
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