At The Corner, Andrew Stiles notes a report from Green Technology that Solyndra’s executives substantial bonuses shortly before their company declared bankruptcy, having run out of your money. The taxpayers likely will be stuck with a $530 million bill. Here is where some of it went:
Karen Alter, senior vice president of marketing, received two $55,000 bonuses on April 15 and July 8 of this year, on top of her $250,000 annual salary.
If it weren’t our money, this would almost be funny: how can you award someone in charge of marketing $110,000 in bonuses when the company wasn’t making enough sales to stay out of bankruptcy? Ms. Alter’s recent political contributions, according to Open Secrets:
* Barack Obama, $2,300.
* David Sanders (D), $1,000.
* Alan Khazei (D), $3,000.
Ben Bierman, executive vice president of operations and engineering, received $120,000 in bonuses this year on top of his $276,000 salary.
Mr. Bierman’s recent political contributions, per Open Secrets:
* Barack Obama, $2,300.
* DNC Services Corp., $1,950.
* Democratic Congressional Campaign Committee, $1,950.
* Democratic Senatorial Campaign Committee, $2,750.
* Priorities USA Action, $500.
* Women Vote!, $250.
Paula Camporaso, vice president of information technology — $80,000 in bonuses on top of her $107,000 salary.
Dave Sanat, vice president of supply chain — $80,000 in bonuses on top of his $111,000 salary.
Bill Stover, the company’s CFO who took the fifth before Congress at a September hearing, was awarded at least $120,000 in bonuses on top of his $367,000 salary.
The document also reveals that Chris Gronet, one of Solyndra’s founders, was “transitioned to the role of adviser and consultant” from his position as CEO on July 1, 2011, and negotiated a severance package worth more than $450,000.
Mr. Gronet’s recent contributions:
* Barbara Boxer, $1,000.
I’m sure they all really appreciate your tax dollars.
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