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| 01:13 AM | ||
| Users Online Now: 1,680 (Who's On?) | Visitors Today: 105,982 | |
| Pageviews Today: 144,835 | Threads Today: 40 | Posts Today: 642 |
| 01:13 AM | ||
WTF ---- Hostess goes Bankrupt but Executives get $1.8M in Bonuses - CEO getting $125,000 a month - 15,000 Fired Immediately | |
| Anonymous Coward User ID: 25549014  United States11/30/2012 11:41 AM Report Abusive Post Report Copyright Violation | Re: WTF ---- Hostess goes Bankrupt but Executives get $1.8M in Bonuses - CEO getting $125,000 a month - 15,000 Fired Immediately A federal bankruptcy judge has approved bonuses for executives of Hostess, the maker of Twinkies, who stay on as the company is broken up and sold off. Quoting: ~JustMe~ On Thursday, as part of a plan to liquidate the company and lay off 18,000 workers, a federal judge in White Plains, N.Y., approved paying 19 Hostess executives bonuses totaling $1.8 million. Hostess has said it has interest from at least 110 firms who want to buy pieces of the operation. The decision comes as the company, known for its iconic snack cakes like Ho Hos and Ding Dongs, says it doesn't have enough cash on hand to pay retirement benefits to some former employees. The bonuses do not include pay for CEO Gregory Rayburn, who was brought on as a restructuring expert earlier this year, according to The Associated Press. Rayburn is being paid $125,000 a month. more [link to abcnews.go.com] YES, THE C.E.O. FASCIST STATE GETS ITS GOLDEN DIAPER NO MATTER IF THE STOCKHOLDERS, WORKERS AND RETIREE'S GET THE BIG ONE UP THE YOU KNOW WHERE ....... THE UNITED SNAKES IS A CESSPOOL WHERE THE RICH $#!+ ON ALL OF US 99 PERCENT !! |
Burt Gummer  User ID: 7702124 United States11/30/2012 11:43 AM Report Abusive Post Report Copyright Violation | Re: WTF ---- Hostess goes Bankrupt but Executives get $1.8M in Bonuses - CEO getting $125,000 a month - 15,000 Fired Immediately A federal bankruptcy judge has approved bonuses for executives of Hostess, the maker of Twinkies, who stay on as the company is broken up and sold off. Quoting: ~JustMe~ On Thursday, as part of a plan to liquidate the company and lay off 18,000 workers, a federal judge in White Plains, N.Y., approved paying 19 Hostess executives bonuses totaling $1.8 million. Hostess has said it has interest from at least 110 firms who want to buy pieces of the operation. The decision comes as the company, known for its iconic snack cakes like Ho Hos and Ding Dongs, says it doesn't have enough cash on hand to pay retirement benefits to some former employees. The bonuses do not include pay for CEO Gregory Rayburn, who was brought on as a restructuring expert earlier this year, according to The Associated Press. Rayburn is being paid $125,000 a month. more [link to abcnews.go.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. ...and give bonus disbursments to all the people that tried to save the company. Good for them. Nothing for the union thugs. :uniontwink: Awww.....unions crying the blues because the owners are taking their EARNED money and going home. Cry some more.  |
| Anonymous Coward User ID: 17406680 United States11/30/2012 11:43 AM Report Abusive Post Report Copyright Violation | |
| Anonymous Coward User ID: 10809107 United States11/30/2012 11:45 AM Report Abusive Post Report Copyright Violation | |
| Anonymous Coward User ID: 17406680 United States11/30/2012 11:46 AM Report Abusive Post Report Copyright Violation | |
| Alexander User ID: 15635858 United States11/30/2012 11:49 AM  Report Abusive Post Report Copyright Violation | Re: WTF ---- Hostess goes Bankrupt but Executives get $1.8M in Bonuses - CEO getting $125,000 a month - 15,000 Fired Immediately Which just shows it pays to be the CEO even in a bankruptcy. Life is unfair. Get over it. The truth is incontrovertible. Malice may attack it, ignorance may deride it, but in the end, there it is. Winston Churchill Daily Updates Thread: ASS IS IN THE WRINGER - Rolling Updates from 11/16/20 to present (Page 316) |
| Anonymous Coward User ID: 25549014 United States11/30/2012 11:52 AM Report Abusive Post Report Copyright Violation | |
| Burt Gummer User ID: 7702124 United States11/30/2012 11:54 AM Report Abusive Post Report Copyright Violation | |
| Kulkulcan User ID: 1551266 United States11/30/2012 11:55 AM Report Abusive Post Report Copyright Violation | |
| Anonymous Coward User ID: 28205197 United States11/30/2012 11:55 AM Report Abusive Post Report Copyright Violation | Re: WTF ---- Hostess goes Bankrupt but Executives get $1.8M in Bonuses - CEO getting $125,000 a month - 15,000 Fired Immediately Quoting: Kulkulcan $1000 you stupid union stooge ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^ and anytime my old brain can't quite understand how we reached such a point, it never fails, someone steps up to illustrate it...... btw son....... union or not , recheck your math "$1000 you stupid union stooge" Gawd we are F'd lolol |
| Anonymous Coward User ID: 21098952  Canada11/30/2012 11:59 AM Report Abusive Post Report Copyright Violation | Re: WTF ---- Hostess goes Bankrupt but Executives get $1.8M in Bonuses - CEO getting $125,000 a month - 15,000 Fired Immediately The UNION was WARNED to cut a deal. They would not. The members all voted to regect the offer on the table. More More More. Now they are out of jobs. See it happen all the time. The unions bite the hands that feed them. They could have settled and kept going. Higher ups have legal binding contracts thats why the Judge honored them. Maybe if everybody went to school and got an education they could be the one getting the bonus. Those people start out like everybody else. They are born. They grow up. They go to school. They go on and take extra courses and higher education to get the good paying jobs and work their asses off to get into Management. Envy is a sin. You get what you give to yourself. Do nothing for yourself and you get nothing back. If you want the good life you have to work hard for it. Most people don't work hard at anything. |
| ~JustMe~ (OP) User ID: 1878605 United States11/30/2012 12:21 PM Report Abusive Post Report Copyright Violation | Re: WTF ---- Hostess goes Bankrupt but Executives get $1.8M in Bonuses - CEO getting $125,000 a month - 15,000 Fired Immediately The company has been gutted by the CEO and the execs. Hostess was an LBO (Leveraged Buyout). Quoting: Anonymous Coward 28714784 Company goes bankrupt, gets bought by private equity group. Group leverages the company to the tune of tens of millions of dollars. Equity firm takes all that money as consultation fees and bonuses. And they keep taking money from the company until the company cannot pay the interest on the debt. Then they cut the pay to the employees, and fire whomever they can. The whole time they have their hands out for tax incentives and whatever other government welfare they can get (offsetting their debt to us). This is the Bain Capital model, and this is officially endorsed here on this board by all the moderators, and most of the members. They are complete morons, and have descended to the level "complete piece of shit". The company has not been gutted by the ceo's they have been gutted by the 17 billion dollar in unfunded Union pension benefits... you people are really dumb... Hey, I just posted the story... |
lol
