Mary Hayashi vs Solyndra State, National, International, posted by Bill, a resident of the Amberwood/Wood Meadows neighborhood, on Sep 2, 2011 at 1:04 pm
Assemblywoman Mary Hayashi (D-Hayward) was on the news last night condemning Solyndra for letting all their employees go without notice or benefits.
From her wedsite -
“This is unacceptable for a corporation that received $535 million in government funds at a time when we are cutting health care for seniors and children. It’s a violation of federal and state law when you squander taxpayer money and then treat workers in such a disgraceful manner.”
Under federal and state law, businesses undertaking a mass layoff are required to give the employees at least 60 days advance notice to protect employees and their families. By ignoring the law, Solyndra did not allow employees any time to prepare for their job loss, such as seeking other employment and reconsidering major financial decisions.”
I have news for Mary. Solyndra does not exist as a going company. It was taken over by the law firm hired to handle the bankruptcy case. The 60 day WARN Act that Mary refers to, requires companies in business to notify employees 60 days in advance of an impending mass layoff. A bankrupt company does not need to follow this state law since the US Bankruptcy court takes over ownership responsibility.
Bankruptcy lawyers purposefully file for bankruptcy on the same day as the employees are let go. It is not the company that lets the employees go, it is the lawyers. That is why the process is so heartless. These lawyers have the same genetic make-up as the people that ran the Nazi death camps, with one exception. For a buck they would push their own mother into the gas chamber.
The employees are left with nothing, no severance, no vacation pay, no past wages (they do not get paid for the day they got laid off, another state law violated), no bonuses, no sick leave, all benefits expire the day of bankruptcy. If they are lucky they will be eligible for COBRA (don’t count on it if reorganization is not an option). Count on your 401K being raided if you are not vested. It will take forever to repay any employee expenses. Any employee stuck away from home may have to pay their own way back to the Bay Area. And on top of this the IRS will not allow any deductions for lost wages or pay.
So yes, this really sucks Mary. What are “YOU” going to do about this injustice? You represent the people. Are you and your colleagues going to fight for the people or, like every other politician, realize that a major portion of your campaign funds come from the American Bar Association and go back to being a silent puppet.
Posted by Mike, a resident of the Highland Oaks neighborhood, on Sep 2, 2011 at 4:49 pm
While bankruptcy should be a predictable event if your top management and accounting department are communicating well, the actual decision to file is difficult to make because of the hope that the team can pull a winner out of its hat in its next meeting with investors or that big client. Unfortunately, letting the public know that things are shaky, a situation that a lot of companies find themselves in on a very regular basis, can cause employees to bolt and shareholders to drop you from their portfolios like a hot rock, which creates another predictable outcome.
If you've got a good pitch, it's best to start shopping around for other companies that might be interested in trying to salvage the situation before you announce your problems to the world so that the employees and investors have some hope.
Posted by Ernest, a resident of the Deer Oaks/Twelve Oaks neighborhood, on Sep 2, 2011 at 6:41 pm
Yeah, NUMMI, let's let the existing car companies save us from dependence on fossil fuels. They've done such a good job already. No govt incentives; no govt subsidies.
Say you're a scientist working for GM and you discover a brilliant steam powered car. Your contract dictates that you hand over the discovery to your employer ,,, who will likely hide it beneath a junkyard of gas guzzling junkers.
Fact is, we need the state's presence as an honest broker in our time of global crisis.
Posted by Screwed taxpayer, a resident of the Another Pleasanton neighborhood neighborhood, on Sep 2, 2011 at 11:48 pm
No, severance, no cobra, nothing is the what my mechanical engineer son got, (after a year of $1,000. mo furlough cut)when his employer ran out of $$ and closed the doors, and stock was a penny. I see no reason Sloyndra employees should get any more. The founder seemed to be a political scammer,(probably donations before and after the 'deal')...plenty of other companies were legit, using traditional methods, without government backing.
Posted by Dana, a resident of the Amador Estates neighborhood, on Sep 3, 2011 at 10:25 am
And WHEN are we going to hear from our Marxist Representative ... Jerry McNerney...about this Solyndra situation??? He is partly responsible for this!
And WHEN are we going to see REAL JOURNALISM from this Pleasanton Weakly...for example, when are they going to pose serious questions to McNerney about the economy, jobs, our debt, national defense, etc. HE IS IN PART RESPONSIBLE FOR THE DECLINE OF AMERICA!!!