Well-There Goes Another 18,500 Jobs

[Elmo]

Yes...I wanted to reiterate my stace. I did allude to that fact in my very first response when I stated that Hostess has not made any new products or marketing strategies while the consumer base has moved to a more health conscious diet. It's crazy how these top execs gets these golden parachutes.

[the blur]

From what I read, the top dogs increased their salary AFTER they were at the point of no return. They knew the end was near. and all them union boys lost all their sick and vac time for walking off the job. they QUIT !!!

[Danny]

wow greedy union bastages not wanting an 8% paycut,,, so greedy unlike the generous Hostess executives who all had received raises of up to 80% in 2011, not too shabby for a company that carries more than 800 million in debt.

[WNYBuckHunter]

Ahhhh, gotta love the Liberal mindset.

You guys are a bunch of hypocrites. You are the same people that have no problem with career politics, and the politicians that vote for their own raises, in fact, you want more government, making more people who make their own raises! Then, you talk out of the other side of your mouth and begrudge those in the private sector that make good money, or give themselves raises. Please.

How much better could have the company done without the need to bow down to union demands that have accumulated over decades? Probably considerably better, but we will never really know. Take a look at the company history, theyve been in trouble for a very long time. They actually went Ch 11 in 2004.

[Culvercreek hunt club]

Private business has the risk...that is why they should get the rewards. If you don't want to be stepped on as a little guy.....work you a$$ off and don't be the little guy anymore. then you can take the risk and have the reward. ....Unions want the reward with no risk. Let's face it...bakers Union...really? they aren't inventing anything...they arent chefs....they are on par with the grill operator at Mc Donalds. and there is nothing wrong with that, but don't expect pay and benefits on par with a five star chef...lol. Auto workers....don't even get me going.....square peg in round hole all day and they want a 6 figure package.

[PWGUNNY]

Elmer, you didnt like the Zombieland reference?

I liked it. Great movie. Woody Harrelson played a great character. Twinkies were also in demand on a "Family Guy" episode. It is a concept that Twinkies are so full of preservatives that they will survive a nuclear meltdown.

I can survive without twinkies, just don't take away my chocolate ice cream.

[Danny]

A wise businessman once said....

“If you cut wages, you just cut the number of your own customers. If an employer does not share prosperity with those who make him prosperous, then pretty soon there will be no prosperity to share. That is why we think it is good business always to raise wages and never to lower them. We like to have plenty of customers.”

[WNYBuckHunter]

The unions didnt make them prosperous.

[accman]

When I was in college from 70 to 72, I survived on lunch being two budweisers, two packages of hostess cupcakes ($. 10 cents a package) , and two slim jims. Every couple of years, I have that same combination just to remember what it was like. Must be the reason I have such a slender physique.

[Culvercreek hunt club]

A wise businessman once said....

“If you cut wages, you just cut the number of your own customers. If an employer does not share prosperity with those who make him prosperous, then pretty soon there will be no prosperity to share. That is why we think it is good business always to raise wages and never to lower them. We like to have plenty of customers.”

Which Kodak Exec. said that? ...lol. Henry made that quote before UAW.

[Danny]

Hostess Brands has been granted permission to pay its top executives bonuses adding up to $1.8million as part of its wind-down plans..

The maker of Twinkies, Ding Dongs and Ho Hos says the incentive pay is needed to retain the 19 managers during the liquidation process, which could take about a year.

Two of those executives will be eligible for additional rewards depending on how efficiently they carry out the liquidations

Edited November 30, 2012 by Danny

[Setters4life]

Hostess Brands has been granted permission to pay its top executives bonuses adding up to $1.8million as part of its wind-down plans..

The maker of Twinkies, Ding Dongs and Ho Hos says the incentive pay is needed to retain the 19 managers during the liquidation process, which could take about a year.

Two of those executives will be eligible for additional rewards depending on how efficiently they carry out the liquidations

This incentive pay arrangement is not uncommon in most mergers or acquisitions. Ditto for winding down a business. (Ever work at a big company where you were the last of a half-dozen people in what was once a large divisional office, who shut the lights and closed the doors after the final walk-through with the building's realtor and attorney? It's pretty depressing. Oh, I forgot, somewhere in there that day you had a conference call with your counterparts to tell them your assignment was done. They were on the other coast, sitting in a room with the Feds who had put your company in receivership weeks earlier and now were running everything;)

In all honesty, this happens all too often in Corporate America; it starts with a poorly-managed business which is the fault of those charged with running the company. Outdated and struggling companies go belly-up every year and they are usually purchased by one of their stronger competitors......workers are often rehired, equipment put back into production and the result is sometimes a stronger, more well-managed operation.

[tony m]

The core problem is that the value of the dollar has been going down for decades.

Prices don't go up, it's the value of the dollar going down. This causes the loss of our purchasing power and a perceived rise in costs.

This will continue.

I have some short videos in this previous comment on learning how money is created. All Americans should learn basic monetary theory. It's easy actually. What is hard to understand, is how we have been taught to believe in what hurts us.

http://huntingny.com/forums/topic/12690-who-else-is-glad-they-didnt-take-anything-last-weekend/#entry162485

[Setters4life]

The core problem is that the value of the dollar has been going down for decades.

Prices don't go up, it's the value of the dollar going down. This causes the loss of our purchasing power and a perceived rise in costs.

This will continue.

I have some short videos in this previous comment on learning how money is created. All Americans should learn basic monetary theory. It's easy actually. What is hard to understand, is how we have been taught to believe in what hurts us.

http://huntingny.com...nd/#entry162485

I've been a big fan of Peter Schiff for years.

[Sogaard]

Ahhhh, gotta love the Liberal mindset.

You guys are a bunch of hypocrites. You are the same people that have no problem with career politics, and the politicians that vote for their own raises, in fact, you want more government, making more people who make their own raises! Then, you talk out of the other side of your mouth and begrudge those in the private sector that make good money, or give themselves raises. Please.

Blanket statements like this tarnish your usually well thought out and passionate points. I think there should be congressional term limits. I don't think there should be such things as career politicians. I have no problems with executives of successful companies giving themselves raises as a reward for good work. I do not agree with executives of failing companies trying to milk every last dime out of a crashing plane right before they bail out on their golden parachutes.

[WNYBuckHunter]

Sounds like you shouldnt be voting for Democrats then Sogaard. You should be supporting those that speak out in favor of term limits, etc. Unfortunately the options start to get pretty limited.

In regards to people working in the private sector, its the private sector, and if the execs milk the last few dimes out, why is that anyones business other than stock holders, etc? Not like this company is getting or has gotten any bailouts, etc from the government. What about all of those green companies that your boys handed a wad of cash to that went belly up? I bet the owners of those companies went bankrupt along with the company right? I dont hear you speaking out about that stuff.