$1.8 Million Bonus Payout Plan Approved For Hostess Execs As The Company Liquidates

[Dana]

[h=1]$1.8 Million Bonus Payout Plan Approved For Hostess Execs As The Company Liquidates[/h]By Kim Bhasin | Business Insider – 4 hrs ago



A judge has approved Hostess' bonus payout plan, and 19 senior executives are in line for up to $1.8 million in bonuses, CNBC reports.

Hostess, which is going through liquidation after a deal couldn't be made between management and the Bakers Union, laid off 15,000 workers to begin the wind down last week.

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This is bullshit... If they're going bankrupt why should they get all that payout?

 

[Catavenger]

Re: $1.8 Million Bonus Payout Plan Approved For Hostess Execs As The Company Liquidat

Sounds shitty to me if they had done a great job running the company maybe but not with it bankrupt.

 

[Natasha]

Re: $1.8 Million Bonus Payout Plan Approved For Hostess Execs As The Company Liquidat

Not surprised one bit.

 

[pjbleek]

Re: $1.8 Million Bonus Payout Plan Approved For Hostess Execs As The Company Liquidat

sounds great. where do I sign up

 

[Francis]

Re: $1.8 Million Bonus Payout Plan Approved For Hostess Execs As The Company Liquidat

This already has a debate thread..

http://www.offtopicz.net/showthread.php?86608-Unions-WIN!!

 

[Dana]

Re: $1.8 Million Bonus Payout Plan Approved For Hostess Execs As The Company Liquidat

This already has a debate thread..

http://www.offtopicz.net/showthread.php?86608-Unions-WIN!!

Funny this was just in the news today...

 

[The Man]

Re: $1.8 Million Bonus Payout Plan Approved For Hostess Execs As The Company Liquidat

[h=1]$1.8 Million Bonus Payout Plan Approved For Hostess Execs As The Company Liquidates[/h]By Kim Bhasin | Business Insider – 4 hrs ago



A judge has approved Hostess' bonus payout plan, and 19 senior executives are in line for up to $1.8 million in bonuses, CNBC reports.

Hostess, which is going through liquidation after a deal couldn't be made between management and the Bakers Union, laid off 15,000 workers to begin the wind down last week.

==================================================================

This is bullshit... If they're going bankrupt why should they get all that payout?

Well considering its 19 people and 1.8 m...thats less than 180 k a piece on the average.

Chump change in reality given the size of the company and the volume of sales.

Why should they suffer because the workers decided to picket and stop working?

 

[Minor Axis]

Re: $1.8 Million Bonus Payout Plan Approved For Hostess Execs As The Company Liquidat

This is exactly what is wrong with corporate America and current law. In no way, shape, or form, should bankruptcy be allowed to be used as a savvy management tool while executives hand each other bonuses. It is a badge of failure and make executives suffer for their management failure just like their orchestrations to make their workers suffer. I'm sure TM is cheering management on because they deserve the rewards for such a fucked up job... :smiley24:

 

[Accountable]

Re: $1.8 Million Bonus Payout Plan Approved For Hostess Execs As The Company Liquidat

This is what we voters have allowed to happen. Corporate dollars purchase legislators, who set up laws that benefit the corporate execs. They wouldn't be able to use bankruptcy as a legal loophole if legislators had not made it legal.

 

[Kakapo Dundee]

Re: $1.8 Million Bonus Payout Plan Approved For Hostess Execs As The Company Liquidat

Funny this was just in the news today...

Was in the news on the 19th November.

http://thinkprogress.org/economy/2012/11/19/1215811/hostess-executive-bonuses/

 

[Kakapo Dundee]

Re: $1.8 Million Bonus Payout Plan Approved For Hostess Execs As The Company Liquidat

Well considering its 19 people and 1.8 m...thats less than 180 k a piece on the average.

Chump change in reality given the size of the company and the volume of sales.

Why should they suffer because the workers decided to picket and stop working?

They say that ignorance is bliss, that must make you the happiest man alive.

Hostess went broke, due to a combination of inept management and corporate greed. A seven day strike by a percentage of their workers is not the cause of their financial woes.

 

[The Man]

Re: $1.8 Million Bonus Payout Plan Approved For Hostess Execs As The Company Liquidat

They say that ignorance is bliss, that must make you the happiest man alive.

Hostess went broke, due to a combination of inept management and corporate greed. A seven day strike by a percentage of their workers is not the cause of their financial woes.

And there you go again not knowing what the fuck you are talking about as usual
They went broke because they were in debt.
They still hadnt shook off the last debt from the last filing...a half a billion in debt..due to union demands.
They were fucked since the prior filing.
The union refused to ease the burden....was demanding more.
Went on strike.
Well yes they are going to close....They couldnt pay money they didnt have.
Who the fuck would pressure for more wages when the company is failing....Perhaps those of ignorance.

 

[The Man]

Re: $1.8 Million Bonus Payout Plan Approved For Hostess Execs As The Company Liquidat

I'm sure TM is cheering management on because they deserve the rewards for such a fucked up job... :smiley24:

They fucked up by allowing unions to have control to begin with.
They also about took down gm and Chrysler...which led to govt intervention.
If you are building cars and losing money...your unions demands might be to high hey.
Same for a twinky.
Labor costs due to union regulations were to much.

 

[Dana]

Re: $1.8 Million Bonus Payout Plan Approved For Hostess Execs As The Company Liquidat

Well considering its 19 people and 1.8 m...thats less than 180 k a piece on the average.

Chump change in reality given the size of the company and the volume of sales.

Why should they suffer because the workers decided to picket and stop working?

I thought it was a mill piece

 

[Tim]

Re: $1.8 Million Bonus Payout Plan Approved For Hostess Execs As The Company Liquidat

Well considering its 19 people and 1.8 m...thats less than 180 k a piece on the average.

Chump change in reality given the size of the company and the volume of sales.

Why should they suffer because the workers decided to picket and stop working?

Who the fuck would pressure for more wages when the company is failing....Perhaps those of ignorance.

Do you even read your own posts?

 

[The Man]

Re: $1.8 Million Bonus Payout Plan Approved For Hostess Execs As The Company Liquidat

Do you even read your own posts?

Showing your ignorance again tim.

 

[Tim]

Re: $1.8 Million Bonus Payout Plan Approved For Hostess Execs As The Company Liquidat

the ignorance is all on your side this time...

Just read your own words

 

[The Man]

Re: $1.8 Million Bonus Payout Plan Approved For Hostess Execs As The Company Liquidat

I thought it was a mill piece

It would still be chump change given the size of the corp.....very low for a ceo.
The ceos for the company had already been making way less that most ceo.

Its actually less than 100k

My other figure was off I was on a small browser at the time

 

[Tim]

Re: $1.8 Million Bonus Payout Plan Approved For Hostess Execs As The Company Liquidat

It would still be chump change given the size of the corp.....very low for a ceo.
The ceos for the company had already been making way less that most ceo.

So what? I don't give a shit if it was $500

you said, "Who the fuck would pressure for more wages when the company is failing....Perhaps those of ignorance."

 

[The Man]

Re: $1.8 Million Bonus Payout Plan Approved For Hostess Execs As The Company Liquidat

the ignorance is all on your side this time...

Just read your own words

Here is what I said

Who the fuck would pressure for more wages when the company is failing....Perhaps those of ignorance.

If you think they should have pressured for more....you need help