Posted on 11/02/2011 9:54:13 PM PDT by NormsRevenge
Senior executives at Solyndra collected hefty bonuses -- ranging from $37,000 to $60,000 apiece -- as the Fremont company bled cash and careened toward bankruptcy this summer.
Bankruptcy documents filed in Delaware earlier this week reveal that more than a dozen senior executives at the defunct solar manufacturing company were awarded sizable quarterly bonuses April 15 and again July 8. Solyndra ceased operations in late August and filed for bankruptcy Sept. 6. About 1,100 employees were laid off without severance pay.
The bonuses, awarded to more than a dozen executives, came on top of what were already highly competitive salaries. Karen Alter, Solyndra's vice president of marketing, had an annual base salary of $275,000; she was awarded a $55,000 bonus in April and again in July. Ben Bierman, Solyndra's executive vice president of operations and engineering, had an annual base salary of $300,000; he was awarded $60,000 in April and again in July. Will Stover, the company's chief financial officer, was also awarded a $60,000 bonus in April and again in July.
Details of the bonuses come as Solyndra attempts to auction off the manufacturing equipment that remains in the idled Fremont factory.
Bruce Grohsgal, Solyndra's Wilmington, Del.-based bankruptcy attorney, did not respond to a request for comment Wednesday.
But a former Solyndra employee, who spoke on condition that he not be identified, said the bonuses were put in place in an effort to retain talent at Solyndra, which suffered from enormously high turnover during its five years in operation.
(Excerpt) Read more at mercurynews.com ...
Yes. We are unable to rule ourselves under any political style we’ve come up with, without corruption.
But really, in America, most of the corruption has come from non-Protestants. All of the non-Protestants were brought here to do hard work and as they’ve grown so has their ability to make a good system unworkable. You can’t kill them and you can’t deport them. So we just keep moving away from them.
I wonder how we’re holding back.
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