Green company gets $390M subsidies, lays off 125

From the Washington Examiner:

A123 Systems, an electric car battery company once touted as a stimulus "success story" by former Gov. Jennifer Granhom, D-Mich., has laid off 125 employees since receiving $390 million in government subsidies

But who says it's not a success? It is for the people at the top. 

... this month A123’s Compensation Committee approved a $30,000 raise for [Chief Financial Officer David] Prystash ... Robert Johnson, vice president of the energy solutions group, got a 20.7 percent pay increase going from $331,250 to $400,000, while Jason Forcier, vice president of the automotive solutions group, saw his pay increase from $331,250 to $350,000. Prystash’s raise was 8.5 percent, going from $350,000 to $380,000.

"It looks like they are trying to pad their top people’s wallets in case something really bad happens," Paul Chesser, associate fellow for the National Legal & Policy Center, suggested.

And you ought to see their golden parachutes! Layoffs are for the little people and who cares about the money, it's only taxpayer money.