Hostess going out of business

[C the Lyte]

Re: Hostess going out of business

It's just a bit harder around these parts. Rockingham, Pittsylvania, Henry counties and surrounding areas average over 10% unemployment. But I have faith. He is a stern business man.

[JODYE]

Re: Hostess going out of business

Why? The company was and has been mismanaged, is that really the workers fault? How flexible should the workers be on terms that management agreed to?

In any event, a number of the brands hostess sells will live on. They're far too profitable not to.

Although I won't dive deeper due to TOS, this is an incredibly short sighted POV.

[daflyboys]

Re: Hostess going out of business

I'm sure their executives and board members have continued to receive exorbitant salaries and bonuses over the last few years that they've been struggling though. They probably made sure there were some obnoxious parachutes were in place for when this day came as well.

Really? You're absolutely sure? Don't you think then that it would be in their best interest to have a business model that wouldn't allow this to happen. Oh wait. They did. The parent company has only been around since 1930. Hostess is practically an American institution.

See this is what happens when there is class envy. Okay....so the "rich guys" have to fold up shop and that'll show them. O, but, darn.... there goes 18,000 jobs with it.

Got news for you all..... other companies aren't waiting around for this end. They're skeddadlin' while they can.

Not talkin' politics here.... just business.

[mattsb84]

Re: Hostess going out of business

Although I won't dive deeper due to TOS, this is an incredibly short sighted POV.

You're aware that while union workers salaries were cut, managements salaries have increased right? Not really helpful to the overall situation there.

[JODYE]

Re: Hostess going out of business

You're aware that while union workers salaries were cut, managements salaries have increased right? Not really helpful to the overall situation there.

Actually sir, you are incorrect.

Again, not going to get into it though.

[C the Lyte]

Re: Hostess going out of business

You're aware that while union workers salaries were cut, managements salaries have increased right? Not really helpful to the overall situation there.

You couldn't be more wrong.

[Lieutenant Dan]

Re: Hostess going out of business



Such good times w/Hostess when I was kid. Ding Dongs that were wrapped in foil...unrolling a Ho-Ho....making a mess with a Suzy Q...girls used to love Snowballs....

Sounds more like porn than food LOL

Anyway, remember the trade value at school lunch for some of this stuff? A Hostess Fruit Pie was at the top of the trade chain, next to Snack Pack pudding.

A fruit pie could easily fetch most of a person's lunch LOL.

[mattsb84]

Re: Hostess going out of business

Actually sir, you are incorrect.

Again, not going to get into it though.

You shouldn't have responded then. Since you have, can you kindly explain why that's wrong? If I'm wrong I'm wrong, I'm fine with admitting that, however, to come in and say "You are incorrect" and provide no additional details is counterproductive. Either be apart of the conversation or not, fine, but dont come in and leave when someone has a different point of view (wrong or otherwise).

This is where I've read about the increases..this was close to a year ago..

http://online.wsj.com/article/SB1000...512506050.html

Appears you need to sign up for WSJ, as its not a free service...

Here's the relevent bit;
Some creditors question Hostess pay raises approved in late July.

Brian Driscoll, CEO, around $750,000 to $2,550,000
Gary Wandschneider, EVP, $500,000 to $900,000
John Stewart, EVP, $400,000 to $700,000
David Loeser, EVP, $375,000 to $656,256
Kent Magill, EVP, $375,000 to $656,256
Richard Seban, EVP, $375,000 to $656,256
John Akeson, SVP, $300,000 to $480,000
Steven Birgfeld, SVP, $240,000 to $360,000
Martha Ross, SVP, $240,000 to $360,000
Rob Kissick, SVP, $182,000 to $273,008

NOTE: Some executives didn't take full raise. Source: Creditors' Committee court filings

More in the article obviously, and I can post that if necessary...

[C the Lyte]

Re: Hostess going out of business

That was another CEO that was promptly released/quit after that. Lawsuits were filed against him and his cohorts.

[JODYE]

Re: Hostess going out of business

You shouldn't have responded then. Since you have, can you kindly explain why that's wrong? If I'm wrong I'm wrong, I'm fine with admitting that, however, to come in and say "You are incorrect" and provide no additional details is counterproductive. Either be apart of the conversation or not, fine, but dont come in and leave when someone has a different point of view (wrong or otherwise).

This is where I've read about the increases..this was close to a year ago..

http://online.wsj.com/article/SB1000...512506050.html

Appears you need to sign up for WSJ, as its not a free service...

Here's the relevent bit;
Some creditors question Hostess pay raises approved in late July.

Brian Driscoll, CEO, around $750,000 to $2,550,000
Gary Wandschneider, EVP, $500,000 to $900,000
John Stewart, EVP, $400,000 to $700,000
David Loeser, EVP, $375,000 to $656,256
Kent Magill, EVP, $375,000 to $656,256
Richard Seban, EVP, $375,000 to $656,256
John Akeson, SVP, $300,000 to $480,000
Steven Birgfeld, SVP, $240,000 to $360,000
Martha Ross, SVP, $240,000 to $360,000
Rob Kissick, SVP, $182,000 to $273,008

NOTE: Some executives didn't take full raise. Source: Creditors' Committee court filings

More in the article obviously, and I can post that if necessary...

Because diving deeper will violate TOS, which I don't feel like doing.

But based on the information you provided, you don't have any concrete knowledge of the situation and only now know what you searched for on Google.

Your information is outdated, and flawed and doesn't take into consideration leadership changes, and plans that were put in place prior to this strike that the Union was fully aware of, but decided to try and push the envelope anyway.

[mattsb84]

Re: Hostess going out of business

We'll agree to disagree I suppose since you can't provide further detail (per TOS). I still think the company was horribly mismanaged though.

[Fresh Tendrils]

Re: Hostess going out of business

I think most of us can agree that CEOs salaries and bonuses in comparison to the average worker's pay rate is a bit ridiculous.

[C the Lyte]

Re: Hostess going out of business

True, and not to defend CEO's, but their decisions and actions are more important than the employees. They have a lot more responsibility as well as shareholders they have to acount for.

That said, what can you do with 300k that you can't do with 500k. Their salaries do need some adjustments.

[8]

Re: Hostess going out of business

I'm not trying to put blame on anyone but would you rather be making 8% less or make 100% less.

[C the Lyte]

Re: Hostess going out of business

I'm not trying to put blame on anyone but would you rather be making 8% less or make 100% less.

To add, would you rather health insurance to go from $ 2 a week to $ 35 a week, or would you rather have COBRA ($750 a week) or no insurance.