General Discussion

Initech

(100,054 posts)

46. The criminal executive class. If I were in charge...

Mon Nov 19, 2012, 04:44 PM

Nov 2012

"Vultue capitalism" as it's called would be considered a class A federal felony as grand larceny and those that are caught practicing this nonsense would be punished by forfeiting their assets and would have to do minimum 20 years in jail with no parole. The only way we can fight back against these greedy scumbags is to take drastic measures to do so. I'm tired of this shit.

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Hostess wants pay executive bonuses while "liquidating" [View all] DirkGently Nov 2012 OP

Of course Drale Nov 2012 #1

this is actually typical; another rotten aspect of "free enterprise" unblock Nov 2012 #2

We have no sense that a company is "for" the workers. DirkGently Nov 2012 #4

I guess one day ... 1StrongBlackMan Nov 2012 #10

I don't know that the management would be that much help here jmowreader Nov 2012 #27

i would think more than likely they'll take the brands and make them elsewhere. unblock Nov 2012 #37

Grupo Bimbo has US-based bakeries. You know that, right? jmowreader Nov 2012 #65

lots of possibilities unblock Nov 2012 #66

Seems like there is a way out of that quakerboy Nov 2012 #44

in fact such contracts usually stipulate a bonus/retainer for this. unblock Nov 2012 #48

That seems back asward quakerboy Nov 2012 #53

companies do often have vesting schedules to keep people there long term unblock Nov 2012 #59

Exactly Tigress DEM Nov 2012 #69

They also want to cancel the pension plans. tclambert Nov 2012 #73

This is correct Morganfleeman Nov 2012 #85

I am curious to see what the stockholders are going to get from this ProgressiveProfessor Nov 2012 #3

Zero, would be my guess, not counting the insiders. DirkGently Nov 2012 #6

Too broke to continue business but doing well enough to pay bonuses. Sounds like banksters. nc4bo Nov 2012 #5

Yep. Take the money and run. nt Tigress DEM Nov 2012 #70

LOL ... 1StrongBlackMan Nov 2012 #7

The workers should buy the brands at liquidation and continue to make them Vincardog Nov 2012 #8

That thought flew through my brain too. nc4bo Nov 2012 #9

Love that idea. I remember a story about a DirkGently Nov 2012 #11

The workers Collect their pensions by collecting the means of production Demeter Nov 2012 #75

Bingo. Let the debt return to the fraudsters who manufactured it. Vincardog Nov 2012 #79

Occupy Hostess! Barack_America Nov 2012 #20

Ya know.... Tigress DEM Nov 2012 #71

Hostess said it wants to pay as much as $1.75 million in incentive bonuses to 19 senior managers FogerRox Nov 2012 #12

And they deserve these bonuses for what? LiberalEsto Nov 2012 #13

How else do you expect to attract... awoke_in_2003 Nov 2012 #67

Hahaha! And more to come for the Banes of the world... freshwest Nov 2012 #14

About those banksters everyone is complaining about.... Travelman Nov 2012 #15

Wherever they started, it became a vulture capital looting. DirkGently Nov 2012 #16

I have to agree with you. Barack_America Nov 2012 #21

The problem with that is Travelman Nov 2012 #29

sorry but, that doesn't mean what you think it means -- liquidation bonuses are not the same "salary nashville_brook Nov 2012 #32

They did triple the salaries, backed off when caught. Now they want bonuses. DirkGently Nov 2012 #38

The US Trustee's Office has been involved since the bankruptcy filing Travelman Nov 2012 #41

No. Ch. 7 trustees are completely different. DirkGently Nov 2012 #42

You are wrong quakerboy Nov 2012 #43

Very interesting WinniSkipper Nov 2012 #17

Democrats are just as capable of participating in disaster capitalism as Repubs. nashville_brook Nov 2012 #23

Where is the evidence of that? Travelman Nov 2012 #31

read the article -- information loves consumption :) nashville_brook Nov 2012 #33

There is no evidence in that article Travelman Nov 2012 #36

They "borrowed" from the pension, then reneged. DirkGently Nov 2012 #40

YES, SOME effort was made to actually SAVE the Company by a bankster with a DEM style. Wonderful. Tigress DEM Nov 2012 #72

The law should state there is a 6 month clawback in Chap. 11 closeupready Nov 2012 #18

+1 -- great suggestion! nashville_brook Nov 2012 #26

Borders redux. OnyxCollie Nov 2012 #19

Aren't these the jerks that are cutting pensions through the bankruptcy? Asshats. nt Mnemosyne Nov 2012 #22

+1 no_hypocrisy Nov 2012 #51

workers get romneyed once again nt msongs Nov 2012 #24

man barbtries Nov 2012 #25

It's called win - win liberal N proud Nov 2012 #28

That's the problem with this type of "investment." DirkGently Nov 2012 #45

And 100 year old brands are lost because of greed liberal N proud Nov 2012 #49

same with U.S. domestic airlines...CEOs get big chunk of the equity as part of the bankruptcy langua amborin Nov 2012 #30

And how does the US trustee get paid? AngryAmish Nov 2012 #34

Your tax dollars at work. DirkGently Nov 2012 #52

This message was self-deleted by its author DirkGently Nov 2012 #54

The liquidation request is now irrevocably denied. Panasonic Nov 2012 #35

We must PD Turk Nov 2012 #39

The criminal executive class. If I were in charge... Initech Nov 2012 #46

Amen. No reason to allow it that I can see. DirkGently Nov 2012 #47

Oh there's a good reason... daleanime Nov 2012 #84

and theft. Panasonic Nov 2012 #50

UPDATE: Hostess will now mediate with baker's union DirkGently Nov 2012 #55

Thank you for the update Dirk. Starry Messenger Nov 2012 #57

Interesting, no? Suddenly Hostess is not as "done" as indicated. DirkGently Nov 2012 #61

CNBC has been talking about Hostess all afternnon.... Sekhmets Daughter Nov 2012 #56

Pension thievery. Another gift of the investor class. DirkGently Nov 2012 #62

Amazing isn't it? Sekhmets Daughter Nov 2012 #64

All the people griping about unions have suddenly fallen strangely silent. Weird. ck4829 Nov 2012 #58

well, except for the International Brotherhood of Banksters JustABozoOnThisBus Nov 2012 #60

UPDATE: A more "union-friendly" buyer? DirkGently Nov 2012 #63

Sun Capital = Mark Leder = Host of "47%" fundraiser. Barack_America Nov 2012 #76

Tell me. What is the downside of hiring cheaper, less experienced executives here? Canuckistanian Nov 2012 #68

Laying off people is hard work jsr Nov 2012 #74

They did such a great job toddwv Nov 2012 #77

this is that pesky oversight that rmoney and the TP congress ran on getting rid of tjwash Nov 2012 #78

Hostess was Romneyed Yo_Mama_Been_Loggin Nov 2012 #80

WHY NOT THE UNION PURCHASE HOSTESS, keep the jobs in AM, fire management! CarmanK Nov 2012 #81

MSM all over this story? upi402 Nov 2012 #82

I hope they lose. Quantess Nov 2012 #83