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Topic: Bankrupt Hostess to Give Execs Bonuses, Employees Lose Pension Too< Next Oldest | Next Newest >
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PostIcon Posted on: Dec. 01 2012, 6:47 am  Skip to the next post in this topic. Ignore posts   QUOTE

A federal bankruptcy judge has approved bonuses for executives of Hostess

Bankrupt Hostess To Give Bonuses to Executives
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PostIcon Posted on: Dec. 01 2012, 7:16 am Skip to the previous post in this topic. Skip to the next post in this topic. Ignore posts   QUOTE

What do you think was the Judges reason was for allowing the bonus?

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PostIcon Posted on: Dec. 01 2012, 7:45 am Skip to the previous post in this topic. Skip to the next post in this topic. Ignore posts   QUOTE

Today's job market is horrible for "executives" too - especially highly paid "executives" who have a record of driving their current employer into bankruptcy. So I do not buy the assertion that the bonuses are necessary to retain the highly paid Hostess "executives".

I think that the judge does not understand what he/she did.

Hostess suppliers and creditors will not collect money owed them because it has been awarded to the "executives" as bonuses. These suppliers will suffer a loss of money that will put their businesses in danger of failure. The underfunded pension plan will short employees because the money owed to them was awarded to the "executives" as bonuses.

What the judge did was stupid and will encourage "executives" at other companies to mismanage as the Hostess "executives" did.
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PostIcon Posted on: Dec. 01 2012, 9:21 am Skip to the previous post in this topic. Skip to the next post in this topic. Ignore posts   QUOTE

I think it's fascinating that the current CEO of Hostess was more than willing to admit that it wasn't the labor sector that sank the company, rather the piss poor management of the company before he got there.  A veritable breath of fresh air to hear someone actually admit that management, not the unions, kill companies.  Management negotiates the contracts with the unions.  Management signs the contracts with the unions.  And management tends to blame the unions when all hell breaks loose as a result of bad management.

As a result of that knowledge, how can anyone have earned a bonus from a company ruined by their actions?  How does ANY executive of a defunct company deserve a bonus that no other rank of employee is entitled to?

Wanna know how the rich keep getting richer and the rest of us don't?...


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PostIcon Posted on: Dec. 01 2012, 12:17 pm Skip to the previous post in this topic. Skip to the next post in this topic. Ignore posts   QUOTE

So, it was bad management that drove the company under. Not a union that set rules in place making it so that drivers were not allowed to load their own trucks, forcing hostess to hire truck loaders. Truck drivers who carried Wonder Bread weren't allowed to load Hostess Twinkies forcing Hostess to hire more Truck drivers. Truck loaders who loaded Hostess Twinkies weren't allowed to load Wonder Bread forcing Hostess to hire more truck loaders. What further proves that it is the unions who forced Hostess under, is that other companies who don't have to put up with the union thugs rules are happy to pay a pretty penny to have rights to the Hostess Brand.

And what that judge was thinking, was it is his job to up hold the law. I'd be willing to bet, the judge didn't want to in this case, but still did anyway.
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PostIcon Posted on: Dec. 01 2012, 4:07 pm Skip to the previous post in this topic. Skip to the next post in this topic. Ignore posts   QUOTE


(muttpacker @ Dec. 01 2012, 9:21 am)
QUOTE
I think it's fascinating that the current CEO of Hostess was more than willing to admit that it wasn't the labor sector that sank the company, rather the piss poor management of the company before he got there.  A veritable breath of fresh air to hear someone actually admit that management, not the unions, kill companies.  Management negotiates the contracts with the unions.  Management signs the contracts with the unions.  And management tends to blame the unions when all hell breaks loose as a result of bad management.

Precisely.

Unions do not do themselves any favors by focusing on job preservation (ie membership preservation) over rules that might enable company productivity-enhancing work flexibility, but ultimately the responsibility for any deal that management agrees to that harms the company falls squarely on management's lap.


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PostIcon Posted on: Dec. 02 2012, 8:55 am Skip to the previous post in this topic. Skip to the next post in this topic. Ignore posts   QUOTE

Perhaps the bad management they speak of was the management that agreed to union contracts that bled the company dry.

The execs are being given bonuses so that they stick around to the end....rather than simply bailing....like the members of the bakers union did

The execs are getting paid for showing up

If the bakers had shown up they might also be getting paid

What is certain is that their strike was the last straw


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PostIcon Posted on: Dec. 02 2012, 12:23 pm Skip to the previous post in this topic.  Ignore posts   QUOTE

You ignore everything that doesn't agree with your internal narrative babb.
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7 replies since Dec. 01 2012, 6:47 am < Next Oldest | Next Newest >

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