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cstanleytech

(26,283 posts)

29. As it should.

Reply to elleng (Reply #16)

Mon Nov 19, 2012, 04:47 PM

Nov 2012

Especially after I read the part where it says "The U.S. Trustee, an agent of the U.S. Department of Justice who oversees bankruptcy cases, said in court documents it is opposed to the wind-down plan because Hostess plans improper bonuses to company insiders." as it is totally immoral and unacceptable that the company would still seek to reward failure.

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Highlight:

Hostess Brands to terminate pension plan as part of liquidation [View all] antigop Nov 2012 OP

PBGC should sue the execs to recover the money they awarded themselves.. jerseyjack Nov 2012 #1

A-fricking-men! nt raccoon Nov 2012 #19

I agree with you there. nt cstanleytech Nov 2012 #25

Just saw this in another post - about executive bonuses Debau2005 Nov 2012 #2

Executives always make out... awoke_in_2003 Nov 2012 #4

Yes, and Pensions are also part of a contract. Xyzse Nov 2012 #13

I am convinced... awoke_in_2003 Nov 2012 #26

as usual the top will strip the carcass clean leaving the bones for the workers leftyohiolib Nov 2012 #6

Romey's Bain business model. Just what he had in store for us. nt brush Nov 2012 #15

this business model should be made illegal with life imprisonment argiel1234 Nov 2012 #36

Takers reteachinwi Nov 2012 #37

Here's a link to the PBGC, they can add this plan to the list on the right side of the page. jtuck004 Nov 2012 #3

Two must-reads from DailyKos blogs ... SomeGuyInEagan Nov 2012 #5

Thanks -- I hadn't seen those. n/t antigop Nov 2012 #12

That was ALWAYS the plan railsback Nov 2012 #7

Yes, this is exactly correct. Also, closeupready Nov 2012 #8

What investment group sulphurdunn Nov 2012 #9

So I have to pay for the pensions and so do you and you and you so that a few capitalists byeya Nov 2012 #10

"Externalizing costs" isn't that the biz phrase rurallib Nov 2012 #14

But of course. AtheistCrusader Nov 2012 #11

Not so fast. Its 'plan' must be approved in U.S. Bankruptcy Court first, elleng Nov 2012 #16

Unfortunately, from experience in two of them, Fuddnik Nov 2012 #17

Yup. closeupready Nov 2012 #27

Where do you get the idea it won't be approved? n/t antigop Nov 2012 #24

Article I linked to says: elleng Nov 2012 #32

Well, the PBGC opposed the termination of pensions from American Airlines antigop Nov 2012 #33

As it should. cstanleytech Nov 2012 #29

This should be illegal abelenkpe Nov 2012 #18

There is a bill(HR-1322) that has been sitting in the house since at least 2008, which would do.... dmosh42 Nov 2012 #21

This HR 1322? antigop Nov 2012 #34

Here, my friends, are your rat bastard 'Job Creators' Scalded Nun Nov 2012 #20

K & R & AzDar Nov 2012 #22

so it's all a scam yurbud Nov 2012 #23

So shed all $ obligations, re-sell the company to a 'new' company of the same execs with new name? tomm2thumbs Nov 2012 #28

DING! DING! DING! WE HAVE A WINNA! nt antigop Nov 2012 #35

That should be so illegal you get hanged for it. aquart Nov 2012 #30

Taxpayers bail out another corporation. Yo_Mama_Been_Loggin Nov 2012 #31

the PBGC covers pensions of bankrupt companies. IT IS NOT FUNDED BY TAXPAYERS! antigop Nov 2012 #38

Thank you reteachinwi Nov 2012 #39