Skip to comments.Bankruptcy judge approves Solyndra bonuses (Taxpayers are still getting shafted)
Posted on 02/23/2012 3:47:48 AM PST by tobyhill
A Delaware bankruptcy judge has approved close to $370,000 in bonuses for certain employees of Solyndra LLC, a solar panel manufacturer that received a half-billion dollar loan from the federal government before declaring bankruptcy.
(Excerpt) Read more at articles.boston.com ...
says it needs to retain key employees with the expertise needed for an orderly liquidation of its remaining assets.
....let’s see, they’re shoveling crap into a dumpster and hired a real estate agent to sell the building, I’ll do it for half.....but I want perks.
This is more of 0bama’s WTF policy!
The MSM is not reporting the most important news item in this story! Not one has named the IDIOT judge that allowed the bonuses to these people. No sane person (much less a judge)would give a monetary bonus to a officer or employee of a bankrupted Chapter 7 company. I guess the captain of the cruise ship that ran his ship ground off the Italian west coast, Francesco Schettino should get a bonus also!!! Can anyone tell me the judges name so I can nominate them to the Dumberest Award on dumbdumberdumbest.com !!!
Put it all up on Craigslist!
Name the judge.
Delaware is supposed to be sophisticated and savvy about business law, and quite predictable. That’s what a lot of businesses like about incorporating in Delaware. Is this an artifact of Delaware law or of a particularly screwy judge?
Bingo, I believe that’s a better suggestion than mine.
Judge Mary Walrath
Actually you are quite wrong. They are called retention bonuses. You sign an agreement to fulfill certain requirements over a set period of time and at the end of the period you receive the bonus.
They make sense for key people since the period of time is too short to justify hiring a replacement, yet the skill set is essential to capture asset value during liquidation or restructuring.
“Can anyone tell me the judges name so I can nominate them to the Dumberest Award on dumbdumberdumbest.com !!!”
Here’s a clue. What do you call a lawyer who is so bad that no on will hire him?
Answer: Your Honor, or Congressman