COMMENTARY | Solyndra, the solar-panel company that bled taxpayer money all the way to bankruptcy court, is asking the court to allow it to pay $500,000 in bonuses to employees, according to Fox News.
It makes me sick to hear news like this. Instead of trying to keep workers motivated, the money should be used to pay debt.
The Solyndra attorneys claim the money would be used to motivate the remaining employees. They would receive these bonuses as incentive to keep doing the good work. Call me silly, but I thought the company received $535 million from the federal government to keep up the good work. How did that turn out?
As a political/business consultant, I have never been a fan of retention bonuses for failing companies. The remaining employees should know the stigma they are going to carry with them to any company they apply with in the future. I personally would not trust hiring someone who was a decision-maker for a company which blew through $535 million of taxpayer money without positive results. How could I feel comfortable giving a person like this responsibility?
The current employees know their backs are against the wall. If the company goes under, they are going to have to walk into interviews with the stigma of a failed company. Right now, they have to work harder to try to resurrect the company. They should not receive bonuses for doing so as their paychecks are more than they would get if the company would go under.
At this point, all we can have is hope that the court will tell Solyndra they have to give the money to creditors, the government or keep it on hand for future operating expenses. What the court will do can never be accurately predicted as each judge and justice has a different interpretation of what has happened, what should happen and the laws involved. I can't blame the judge if he or she allows the bonuses.
At the same time, I cannot blame the workers if they accept the bonuses as it is only human nature to accept large amounts of money for doing what is supposed to be done. I cannot blame the attorneys for raising the claim in the court, since that is their job. I do blame the bosses at Solyndra for an idea like this.
153 comments