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Sun Nov 18, 2012, 02:50 PM

7.6 Million Dollar Pay Increases while filing for bankrupcy...

Meanwhile, it's all the Union's fault that Hostess is closing.

12 replies, 1581 views

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Always highlight: 10 newest replies | Replies posted after I mark a forum
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Reply 7.6 Million Dollar Pay Increases while filing for bankrupcy... (Original post)
1monster Nov 2012 OP
LARED Nov 2012 #1
1monster Nov 2012 #7
Lucinda Nov 2012 #10
dipsydoodle Nov 2012 #2
1monster Nov 2012 #3
1monster Nov 2012 #8
dipsydoodle Nov 2012 #12
proud2BlibKansan Nov 2012 #4
dipsydoodle Nov 2012 #5
proud2BlibKansan Nov 2012 #6
1monster Nov 2012 #9
exboyfil Nov 2012 #11

Response to 1monster (Original post)

Sun Nov 18, 2012, 02:53 PM

1. Do you have a link for that? nt

 

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Response to LARED (Reply #1)

Sun Nov 18, 2012, 03:33 PM

7. Here are two, not specifically mentioning $7.6 million, but referring to a series of

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Response to 1monster (Reply #7)

Sun Nov 18, 2012, 03:38 PM

10. TY for the links!

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Response to 1monster (Original post)

Sun Nov 18, 2012, 02:53 PM

2. Have you got a link to that ?

Other than Facebook.

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Response to dipsydoodle (Reply #2)

Sun Nov 18, 2012, 03:00 PM

3. Not at the moment. I did read something about it early today, but can't remember where.

I'll see if I can find it.

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Response to 1monster (Reply #3)

Sun Nov 18, 2012, 03:34 PM

8. See post #7.

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Response to 1monster (Reply #8)

Sun Nov 18, 2012, 04:12 PM

12. Thanks

.

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Response to proud2BlibKansan (Reply #4)

Sun Nov 18, 2012, 03:10 PM

5. Can't see any reference to $7.6 million there

Only references to lower amounts over a period of 8 years.

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Response to dipsydoodle (Reply #5)

Sun Nov 18, 2012, 03:25 PM

6. Do the math. Those bonuses add up.

Hostessís failure was compounded by having six CEOís in 8 years who had no experience in the bread or cake baking industry, and despite their financial woes, the companyís CEO got a 300% salary increase from $750,000 to $2,250,000, and other top executives received raises worth hundreds-of-thousands of dollars; all while the company was struggling.

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Response to dipsydoodle (Reply #5)

Sun Nov 18, 2012, 03:36 PM

9. One and a half million of that figure went to the CEO as a 300% pay raise just before

Hostess filed for bankrupcy.

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Response to 1monster (Original post)

Sun Nov 18, 2012, 03:40 PM

11. What I want to know is how much in

management fees were also pulled out by the white knight in the first bankruptcy. That is the standard Bain model.

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