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The real blame for Hostess closing: Out of control executive pay and mismanagement

 
Anonymous Coward
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United States
11/16/2012 04:42 PM
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The real blame for Hostess closing: Out of control executive pay and mismanagement
The MSM is blaming a union for Hostess closing its doors today. But Hostess was already in bankruptcy court for the second time. While negotiating for lower employee salaries in order to keep their doors open, Hostess increased their CEO's pay from $750,000 a year to $2.25 million per year. Nine other top level executives also saw huge raises over the last year.

If Hostess's greedy executives are going to insist on taking more than their fair share of the pie then the company deserves to go out of business. Sadly, the Twinkies brand and others like it will be sold off and the executives will benefit while the working class employees will be stuck with nothing.

It seems to me that the executives were planning on closing the company regardless. Their huge raises meant that they could raid the place on the way out. Mitt Romney and his friends at Bain Capital would strongly approve of this method of doing things. And now they have a nice MSM narrative about the evil unions and working class people.