Bankrupt Solyndra Asks for $500k in Bonuses

By Admin
The same California solar panel maker that filed for bankruptcy after receiving a half-billion dollar loan from the federal government is now asking a...

 

The same California solar panel maker that filed for bankruptcy after receiving a half-billion dollar loan from the federal government is now asking a Delaware judge for up to half a million dollars in employee bonuses. Solyndra has requested the hearing as an effort to improve morale, claiming that the incentive is critical to a successful reorganization and sale of the company's assets.

The money would only go to 21 or less staff members: nine equipment engineers, up to six general business and finance employees, up to four facilities workers and up to two information technology workers. That's a bonus of 8 to 38 percent of each person's base pay, which ranges between $72,000 and $206,000 a year. Not a bad deal for the guys who failed the government and pretty much killed the image of the entire solar industry.

Let's not forget either that dozens of executives got bonuses of as much as $60,00 in April and again in July. The company founder also got a severance package worth almost half a million dollars.

SEE OTHER TOP STORIES IN THE ENERGY DIGITAL CONTENT NETWORK

Renewable Energy Investments Hit Record Highs

BP Officially Shuts Down Solar Efforts

January's issue of Energy Digital has gone live!

Energy Digital will check in at the end of the month as the trial takes place. Maybe Solyndra will get lucky again...

DOWNLOAD THE ENERGY DIGITAL IPAD APP

Share

Featured Articles

Chevron’s hydrogen investment and green energy endeavours

President of Chevron New Energies Jeff Gustavson comments on its hydrogen input and further renewable energy exploits to come from the leading energy firm

Honeywell debunks hydrogen energy and its global challenges

Maya Gomez, Director of Green H2 CCM at Honeywell, uncovers the different types of hydrogen and the challenges of applying them for more sustainable energy

ABB Motion & WindESCo partner to strengthen wind energy

ABB Motion invests in WindESCo to sustain wind turbine performance, in a renewable energy drive that will help ABB in its net zero ambitions

Shell Energy UK and Germany acquired by Octopus Energy

Utilities

Sustainability LIVE links to energy and electrification

Sustainability

Green energy: A hot topic at Sustainability LIVE 2023

Sustainability