Solyndra Allowed to Pay Bonuses!
Failed green-energy company Solyndra still owes the US taxpayers around a half billion dollars. A bankruptcy judge today allowed paying out $370,000 in bonuses to some employees.
The company is already the target of more than one congressional over-sight committees looking into charges that loans to the company may have been conducted improperly by the Energy Department.
There have also been allegations of voter influencing. The company was asked by the Administration in emails to hold off announcing that the company was closing its doors and laying off people until after the 2010 election.
A Delaware bankruptcy judge has approved close to $370,000 in bonuses for certain employees of Solyndra LLC, a solar panel manufacturer that received a half-billion dollar loan from the federal government before declaring bankruptcy.
Solyndra, based in Fremont, Calif., wanted to award bonuses of up to $500,000 to as many as 21 employees but scaled back its request after discussions with its official creditors committee.
The judge approved the revised bonus request following a hearing Wednesday.
Solyndra, which has failed to find a buyer to operate the company as a going concern, says it needs to retain key employees with the expertise needed for an orderly liquidation of its remaining assets.
Attorneys for former Solyndra workers laid off just before bankruptcy filing objected to the proposed bonuses.
The question is when will American taxpayers be paid back the half billion dollars?
From the Cornfield, this seems like another poke in the eye to the American taxpayer.
For more information:
Did The Obama Administration Try and Influence the Mid-Term 2010 Election?
- TAGS:
- scandal,
- energy_department,
- solyndra,
- bonuses,
- bankruptcy
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