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REPORT ABUSIVE REPLY
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Hostess seeks sweet bonus deal for top executives
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Anonymous Coward |
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Hostess Brands Inc. is asking for a judge's approval to give its top executives bonuses totaling up to $1.8 million as part of its wind-down plans. The maker of Twinkies, Ding Dongs and Ho Hos says the incentive pay is needed to retain the 19 corporate officers and "high-level managers" during the liquidation process, which could take about a year. Two of those executives would be eligible for additional rewards depending on how efficiently they carry out the liquidation. The bonuses would be in addition to their regular pay. The bonuses do not include pay for CEO Gregory Rayburn, who was brought on as a restructuring expert earlier this year. Rayburn is being paid $125,000 a month. [ link to www.nbcnews.com]  If I was one of the executives and/or owners....and the UNIONS forced the company out of business. ...I WOULD CASH OUT EVERYTHING I COULD TOO.Good for them. :uniontwink: The CEO tripled his pay, along with all the other execs.... while asking the people who actually work to take pay cuts. The company was leveraged to the hilt by a private equity firm. Million paid to execs in the forms of "consultation fees" and bonuses. Stupid piece of shit.
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