Twinkies Doomed ?

According to Dow Jones, while Hostess closed a bunch of plants and headed toward their second bankruptcy in just a few years, the CEO got a 300%+ raise to $3 million, and other executives received raises from 35% to 80%. In the six months leading to bankruptcy! Now where have I heard of this kind of stuff before?

But yeah, blame the unions.

And they are all still underpaid for the job that they are being asked to do (the executives, not the bakers.) Wether they guide the company through the turbulent waters is yet to be seen but their experience says they are capable. No one that is capable of running that company is going to work for a paltry $1 mil. a year.

I still wouldn't blame the unions, they want their piece of the "Twinkie" just like the exec.s do. It's all part of the game.

Sixty something, I suppose, though I can't say exactly when they started going downhill (the Twinkies, that is).

DonDiego agrees with this statement.
It's just business. Unions, management, customers, suppliers, etc., etc., etc. are all looking to prosper. And usually one man's income/profit, in turn, affects other men's costs.

And markets for goods, services, labor determine who succeeds and who doesn't. When markets determine a company doesn't succeed that's what bankruptcy is for, . . . first a second-chance to make adjustments and later, if the adjustments fail to result in profits, sale of the corporate assets. It's an orderly system that's worked for hundreds of years.

Typical Liberal (read: Arshaleign) taking printed information out-of-context and putting their twisted spin on facts. As usual, the Liberals would rather lie even if it was easier to tell the truth.

Well bless their hearts.

In criminal cases, that's known as making restitution, and sometimes it can result in a reduction in prison time. The CEO gave himself a $2 million+ raise AFTER already consulting with bankruptcy attorneys and when he already knew that they would only be paying their vendors pennies on the dollar. It sounds like a "bustout" - milking a company dry with excessive compensation and other fees, and then stiffing the creditors and employees by going BK. Remember when (fictional) Tony Soprano did it with sporting goods shop? How about Max Bialystock in the Producers?

There's no way of knowing that this was a deliberate bustout, but the attempted CEO 300% raise while going into bankruptcy is a leading indicator. The Tony Soprano version of the bustout is clearly illegal. The corporate versions usually are not. But the results are the same, aren't they?

The bakery workers are being asked to accept the same contract as the Teamsters who have already voted for the contract

Perfect timing ! I know a great company turnaround specialist whose schedule is officially open as of last Tuesday.

No turnaround required. There's another guy who'll give the union everything it wants, up to and including the whole damn company.

All they have to do is add a little food coloring to the recipe and call 'em Green Twinkies.

I guess I'm too young, then. I've never liked Twinkies. Maybe they went downhill before I had my first taste.