Friday, June 15, 2012

More Solyndra Corruption Exposed

It's a good thing that Solyndra isn't affiliated with Republicans. Otherwise, this would be scandalous. 
When Solyndra, the $535 million boondoggle that the Obama Administration funded and championed, went bankrupt, the company stated that 1100 workers lost their jobs. That was a lie; the Labor Department now has revealed that 1861 workers were let go. That’s 70% higher than Solyndra claimed. 

In addition, the Labor Department reports that Solyndra increased production in 2011 even though it didn’t come close to selling off its inventory of panels. The company had enough panels to power about 23,000 homes but still pressed ahead with their production. It’s unlikely that they would have proceeded in this manner if they had not been funded by the government.

Solyndra was corrupt in other ways; senior executives collected multiple bonuses, some as high as $60,000, even though they were heading toward bankruptcy. More than a dozen senior executives received huge quarterly bonuses on April 15 and again on July 8 in 2011


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