Bankrupt Solyndra seeking to pay bonuses

The Washiington Times ^ | 1-11-12 | Jim McElhatton

[Ann Archy]

OMG!! Just when one thinks it can’t get worse.

[saganite]

SOP for companies in bankruptcy to try and keep key personell in place in the hopes they can rebound after reorganization.

[Saundra Duffy]

Somebody needs to be IMPEACHED!!

[Utmost Certainty]

Hey guys, you have no right to criticize this, that’s just capitalism. </sarc>

[Yossarian]

SOP for companies in bankruptcy to try and keep key personell in place in the hopes they can rebound after reorganization.

Yup. Since they're auctioning off their factory equipment, I'm guessing the remainder of the company will exist to try to license IP.

Remember, everyone: this needs to pass muster with the bankruptcy judge. And don't worry: the US taxpayer was put on the back of the debtor list by Obama, so it isn't like we're going to see our money back, anyways....

[knarf]

And keep shut the mouths that know where the bodies are buried.

[DeaconRed]

Why Hell YES it's only our TAX money.
ZERO has been spending it like it was water. . . . Why STOP Now?

[plangent]

Typical liberal mindset: rewards for failure.

Failure to correctly estimate the market
Failure to correctly estimate the technical limitations
Failure to correctly estimate the labor costs

up to $50 grand for failure that ran $550 million in U.S. taxpayer dollars into the pockets of the undeserving.

Not Capitalism at all; BUNCO, with a capital B U N C O.

[afraidfortherepublic]

With taxpayer $$$?

[steelyourfaith]

A den of thieves ... like when democrat operative and crook (but I repeat myself) Franklin Delano Raines left bankrupt Fannie Mae with nearly $100,000,000 in cooked-books bonuses.

 

Beam me to Planet Gore !

[saganite]

LOL. So naive.

[RobertClark]

SOP for companies in bankruptcy to try and keep key personell in place in the hopes they can rebound after reorganization.

Yes, it is. However, this only makes sense when there is a viable business model to rebound to. That is not the case with Solyndra. It is a dead fish. Absent government funding, there is no market - private investors didn't buy the load of crap that was Solyndra. The market spoke and Solyndra died - it never turned a nickels profit.

[saganite]

If they can’t get the money to come out of bankruptcy with a viable business plan they will enter chapter 7. A lot of companies that enter chapter 11 and attempt to reorganize don’t make it. Solyndra probably fits in that category.

[Wolfie]

Let’ see, if I remember it right from the Wall Street collapse bonus season, they HAVE to pay bonuses to retain the talent that failed in the first place. It’s a tidy system.

[Minus_The_Bear]

"Hey guys, you have no right to criticize this, that’s just capitalism. "

_______________________________________________

Heh.

[SMARTY]

I N S A N I T Y !!!

[circlecity]

What hubris! They want to pay bonuses while they are in the process of stiffing their creditors.

[Loyal Buckeye]

Bonuses are common in bankruptcy situations.