Thursday, February 23, 2012

Bonuses To Prevent Employees From Quitting

The February 22, 2012 Washington Times reports that Solyndra has been authorized by the bankruptcy court to give big bonuses to some of its few surviving employees:

WILMINGTON, Del. — Several of the nearly two dozen employees at bankrupt solar panel makerSolyndra LLC who were approved for bonuses Wednesday had months earlier received pay raises as high as 70 percent, a fact the company never disclosed in its request for bonus cash.
The company’s bankruptcy attorneys sought permission for the bonuses in a court hearing, arguing that the extra cash is needed to keep key employees from fleeing only to be replaced by more expensive outside consultants.
With little chance of stable employment and officials moving to liquidate assets, the workers needed to wind down the company have little incentive to stay, the Solyndra attorneys argued.
Uh, where, exactly, are they going to flee to?  Another bankrupt "green" company?  

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