Tuesday, March 13, 2012
"After Layoffs, Execs Get Big Raises at Taxpayer-Funded A123"
This idea of getting all the taxpayer money you can, while you can, is getting tiresome.
This case appears very transparent and just plain wrong...
This case appears very transparent and just plain wrong...
Paul Chesser writes about it at NLPC.org:
"Massachusetts-based A123 Systems -- which received $279.1 million in stimulus money from the Department of Energy, and up to $135 million in incentives from the State of Michigan -- boosted the base salaries of two vice presidents and its chief financial officer on February 8.
Chief Financial Officer David Prystash was bumped 27 percent to $380,000; VP of Energy Solutions Robert Johnson’s base salary increased 51 percent from his 2010 level to $400,000; and VP of Automotive Systems Jason Forcier saw his pay rise 32 percent from 2010, to $350,000. The news was first reported by the Boston Web site of Citybizlist.com, which obtained the information from an A123 SEC filing.
A123 had laid off 125 employees in November at its two plants in Livonia and Romulus, Mich."
