Solyndra Bonuses? What’s Wrong With This Picture?
Let's see if I got this right. We, the US Taxpayer through the Department of Energy put up a $535 million guarantee for this Fremont, California solar panel company that recently filed for bankruptcy and now Solyndra wants to pay out bonuses!
In addition to the taxpayer money Solyndra also went through more than a billion dollars in private investments. In September the company issued pink slips to more than a thousand of its workers when filing for bankruptcy. Whenever a case is made for outrageous bonuses companies usually say they have to pay and guarantee the bonuses to insure the caliber of executives. The question for me arises "is this the best my money can buy?"
It seems to me that executives that can go through more than billion dollars before deciding to call it quits must be the best money can buy....if you're looking for someone with the ability to spend money and never produce a viable product!
I really don't care about the investors who lost money because due diligence is their problem. Somebody in Washington however made a decision to throw MY money away without asking me....and that really ticks me off! It's about time we quit handing out taxpayer money to people in private industry. My father didn't get taxpayer money to build his business neither did most of the business people in know.