Only a government-subsidized enterprise could pull a stunt like this one. Solyndra wants to pay bonuses to some key employees to "incentivize" them to stick around. The legal grounds for this are specious. Granted, employees' unpaid wages have senior claim status in a bankruptcy, but I have a really hard time believing such a claim covers incentive bonuses in addition to base pay. The key folks look like the kinds of equipment specialists who need to stick around until the end anyway just to catalog all of the unsold inventory and fixed property so Solyndra's assets can be valued for sale. Why doesn't the bankruptcy court just hire a turnaround and liquidation firm to do that? They can hire the former Solyndra workers on contract to wrap up the asset sale and be compensated with a portion of the sale proceeds. Nah, that would make too much sense for a politically connected corporate implosion.
It's really funny that the company's founder and another director have pending claims for huge bonuses they feel they are owed. A bankruptcy court focused on justice would deny these claims and claw back previously paid bonuses to reimburse creditors. I've got news for Solyndra's former leadership team: Life owes you people nothing.
It's really funny that the company's founder and another director have pending claims for huge bonuses they feel they are owed. A bankruptcy court focused on justice would deny these claims and claw back previously paid bonuses to reimburse creditors. I've got news for Solyndra's former leadership team: Life owes you people nothing.
