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Tue Dec 11, 2012, 07:53 PM

 

Pillage and Plunder. Hostess Bakery CEO admits legal theft

In classic Enron style, back in 2005 Hostess sent out a letter saying they’d just had a very, very profitable quarter. Their stock jumped up. The CEO, Charles Sullivan, and many of the senior executives sold chunks of their stock. The CEO and senior executives were making out big, and the workers were making a decent living.

Then, a few weeks later in 2005, came the letter saying that, oops, all of that profit had really been just an accounting error – the company was actually in trouble. Although the CEO and the top guys had all made a nice killing selling the stock when it was high, and paying a maximum income tax on it of 15 percent because they used the Capital Gains loophole that Mitt Romney used to become a multimillionaire, they now wanted the workers to take a big pay cut.


http://www.alternet.org/corporate-accountability-and-workplace/twinkie-ceo-admits-company-took-employees-pensions-and-put-it?page=0%2C0


Our work isn't done by a long shot. Corporate/Political "Leaders" creating laws and policies to legalize their rape must be stopped.

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Reply Pillage and Plunder. Hostess Bakery CEO admits legal theft (Original post)
cbrer Dec 2012 OP
mike_c Dec 2012 #1
rhett o rick Dec 2012 #2

Response to cbrer (Original post)

Tue Dec 11, 2012, 07:59 PM

1. rec'd and agreed....

Greedy rat bastards.

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Response to cbrer (Original post)

Wed Dec 12, 2012, 01:02 AM

2. We must take control of Congress. Otherwise we are dead, figuritively and most likely literally. nm

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