Skip to comments.Green Firms Get Fed Cash, Give Execs Bonuses, Fail (Taxpayer funded Golden Parachutes)
Posted on 03/06/2012 8:19:13 AM PST by Islander7
President Obama's Department of Energy helped finance several green energy companies that later fell into bankruptcy -- but not before the firms doled out six-figure bonuses and payouts to top executives, a Center for Public Integrity and ABC News investigation found.
EnerDel, maker of lithium-ion battery systems, landed a $118.5 million energy grant in August 2009. About one-and-a-half years later, Vice President Joe Biden toured a company plant in Indiana and heralded its taxpayer-supported expansion as one of the "100 Recovery Act Projects That Are Changing America."
Two months after Biden's visit, EnerDel corporate parent Ener1 paid $725,000 in bonuses to three executives -- including $450,000 to then-CEO Charles Gassenheimer, who led Biden on the tour. This January, Ener1 filed for Chapter 11 bankruptcy protection.
(Excerpt) Read more at abcnews.go.com ...
"Giving a bonus to the executives under these circumstances is rewarding failure with our money with no chance of getting it back," said Leslie Paige, spokeswoman for the nonpartisan Citizens Against Government Waste.
"Taxpayers need some representation here. They didn't really get it."
The article failed to mention the kickback donations to Obama and the DNC.
Green Firms Get Fed Cash, Give Execs Bonuses, Execs Donate to Obama.
That completes the reality.
How much have those executives and corporate partners give to the ObamaPAC?
I guarantee several of these scams had no intention of making a profit or creating a going concern. Bo’s buddies ripped us off again and they will get away with it.
Green Firms (that donate to Democrats) Get Fed Cash, Give Big Donors Bonuses, Fail, Go Bankrupt.
IE, a taxpayer money laundering scheme.
This is from ABC News? Did I doze off and wake up in some alternate universe? Or are they just so swept-up in OWS that the very mention of any executive getting a bonus check gets their dander up?
Where are the RICO laws??
He still hit them....things are changing???
Leftists will continue to walk all over the country unless and until someone actually stops them. Expressing outrage is not stopping them. Exposing their corruption does not stop them.
Prison time stops them. Destroying their positions of power stops them.
Perhaps they think the Kenyan may be on his way out in nine months and have to shift a little in their reporting venue.
That completes the reality.
That's the Progressive circle of life. Crony capitalism without the capitalism.
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