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Good job unions (Hot Cross Puns)

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Posted

Wow, CEO tripled his own pay all while convincing most of the population that him running the company into the ground was the fault of the labor.

I bet he could convince 90% of the Tinderbox to let him bang their wives too.

That was the previous CEO. The current CEO, who was brought in first as CFO and a restructuring effort, is getting paid one dollar for the entire year, as are the other three top executives for the company.

Hostess is Bankrupt

Rayburn announced that the pay of the four top executives would go down to $1 for the year, but that their full salaries would be reinstated no later than Jan. 1. Hostess pays Rayburn $125,000 a month, according to court filings.

Or maybe you meant he tripled his salary to $3

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Posted

That was the previous CEO. The current CEO, who was brought in first as CFO and a restructuring effort, is getting paid one dollar for the entire year, as are the other three top executives for the company.

Hostess is Bankrupt

Or maybe you meant he tripled his salary to $3

Yeah the story I read is now updated with a correction that it was the previous CEO earlier this year. Even still, he did it knowingly while the company was preparing for bankruptcy.

http://www.sacbee.com/2012/11/13/4983174/hostess-continues-pattern-of-misinformation.html#storylink=cpy

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Posted

Hey guys. those last 5 CEOs were total incompetent dicks but don't worry we have a new one and we promise he isn't a total dick this time, honest!

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Posted

http://www.dailykos.com/story/2012/11/18/1162786/-Inside-the-Hostess-Bankery

interesting anecdotes... apparently management also stole the unions' self-funded pension contributions.

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Posted

I knead to get in on this thread before it's too late.

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Posted

Santa just won't have the same twinkie in his eye this season...

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Posted

Hostess took Union members self funded pensions without their authorization to pay their debts – will not be paid back under bankruptcy

nothing to see here folks. move along. unions bad. management good

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Posted

That's usually called theft. How can that not be challenged if the comp took their money?

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Posted

Maybe they put IOUs in a Samsonite. As good as money. Took a page from Social Security trust fund management.

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http://www.dailykos....Hostess-Bankery

interesting anecdotes... apparently management also stole the unions' self-funded pension contributions.

From your link

Remember how I said I made $48,000 in 2005 and $34,000 last year? I would make $25,000 in 5 years if I took their offer.

It will be hard to replace the job I had, but it will be easy to replace the job they were trying to give me.

If its easy to replace, then take their offer, and start looking for something else, so that in the short time you are looking for a job (since its easy to replace) you will actually have some money coming in. Because some is better than 0.

Maybe they think Obama will bail them out like he did the Auto workers? Doubt it will happen, not enough voters and they are not all in Ohio and other battleground states.

But the unions might be rescued from their own stupidity by one of Romney's fellow evil 1 percenters.

FORTUNE -- Private equity firm Sun Capital Partners wants to buy bankrupt bakery Hostess Brands Inc., Fortune has learned.

The proposal would be to operate Hostess as a going concern, including reopening the shuttered factories and continuing union representation of Hostess workers.

"I think that we could offer a slightly better, more labor-friendly deal than what was on the table last week," says Sun co-CEO Marc Leder, in an interview with Fortune. "We also think that one point the unions have made is that there hasn't been a great amount of reinvestment in the business. We've found that investing new capital into companies like this can be very positive for brand, people and profitability... We would look to invest in newer, more modern, manufacturing assets that would enable the company to become more productive and to innovate."

Leder ran several Romney fundraisers. Of course, by stepping in to save a dying company, he will likely be accused of Vulture capitilism.

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Posted

"let them eat cake"

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Maybe they put IOUs in a Samsonite. As good as money. Took a page from Social Security trust fund management.

Lamborghini for $250,000. Might wanna hang on to that one.

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