13 Jan '12, 5pm

Solyndra’s Remaining Employees Hoping for $500K in Bonuses: The corpse of bankrupt Solyndra continues to throw...

Solyndra’s Remaining Employees Hoping for $500K in Bonuses: The corpse of bankrupt Solyndra continues to throw...

The corpse of bankrupt Solyndra continues to throw off taxpayer and venture cash to executives. Solyndra looks to pay its remaining staff an additional $500,000 in bonuses, according to reports in The Mercury News and The San Jose Business Journal . The attorneys for Solyndra (that would be Pachulski Stang Ziehl & Jones) are asking the U.S. bankruptcy court to provide payouts up to $50,000 to 21 employees at the thin film solar firm, which declared bankruptcy on August 31, 2011. The bonus, presumably, comes on top of their existing salaries. Salaries and bonuses are shown in the chart below. The court document is titled, "Key employee incentive plan," in which the law firm claims that Solyndra needs to provide bonuses in order to prevent employees from taking jobs at viable firms while it looks to emerge from Chapter 11 bankruptcy protection. This is reminiscent of the bon...

Full article: http://www.greentechmedia.com/articles/read/wtf/

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