9.22.2011

5 Jobs Created - $2550/hour

And just when it looks like it couldn't get better - guess what? - it does! Solyndra is paying $2550 an hour to defend their failure. I wonder where they got that money?
A California solar-energy company under scrutiny for a $535 million federal loan guarantee has hired McDermott Will & Emery to advise it in a congressional inquiry, court papers say. An application by Solyndra Inc. to employ the law firm as special counsel was filed on Friday in federal bankruptcy court in Delaware. Solyndra, a maker of solar panels, filed for bankruptcy this month, saying it could not compete with foreign manufacturers.Five people with McDermott and their standard hourly rates are listed on the application: William Weld, a former Massachusetts governor and U.S. attorney who is of counsel in New York, at $825; Washington partner Stephen Ryan at $775; Washington partner David Ransom and Silicon Valley partner Eugene Litvinoff, both at $525; and Jon Decker, a senior adviser in Washington, at $425.

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