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Hostess Brands Closing! Options
comicscastle
Posted: Sunday, November 18, 2012 6:58:10 PM

Rank: Beyonder
Groups: Approver, Approver Steward, CR-Management, Forum Admin, Grade My Book Host, Guru, History Host, Member, Super Seller, Tool

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Joined: 1/30/2008
Posts: 14,974
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Location: New Jersey
comicuniversity wrote:
4saken1 wrote:
scotteaves wrote:
Probably because of contracts they have with the company - kind of like the ones the unions have with required pay increases. Could they have turned them down? Most likely. Did they? doubt it. Would you?


As I understand it, executives' raises in the company were previously performance based, but were switched to guaranteed salary in order to get around Chapter 11 regulations. The CEO's salary went from $750,000 to $2.55 million as a result. Other executives' pay went up an average of over 50%.

FWIW, as I understand it, the Hostess' insolvency was so bad due to decrease in demand that even if workers had conceded pay cuts and exorbinant bunuses weren't given to top earners, the company still wouldn't have been salvageable. But hey, at least the fat cats made it out OK!



They ALWAYS do....and the rank and file employees ALWAYS get screwed.

It's why I just can't believe it....I just don't understand how people side with execs. over unions when it comes to big corporations. The execs are always making enormous scads of money and the rank and file are always making less than the rate of inflation. Unions are just trying to redress some of that.


And...before the tired comment "if you don't like it, go work soemwhere else" gets trotted out again.....you realize that if workers somewhere don't make stands, we will all be the victims. We will maek less and elss and less as prices rise and rise and rise.
My original comment about the Union wasn't meant as taking a stand for Management. It was a knock at Unions in general. People forget that during a strike the Union representatives are all getting paid a salary, and in most cases overtime too. They often look out for their needs before those of the members. I have never been a fan of Unions since I was first introduced to them. My first job I had to pay dues so the Union could guarantee me $.10 an hour less than minimum wage, and my only choice was join or quit as it was a closed shop.



The following stores are all stores that I've dealt with or have become friends with through the forums and I highly recommend them all.
Comics Castle-owned & operated by Pat McCauslin
Alpha Comics--ComicVortex--Metropolis Connections 2.0--Comic Cellar


fenix1977
Posted: Sunday, November 18, 2012 11:39:51 PM

Rank: Beyonder
Groups: Member, Subscriber

Joined: 3/16/2007
Posts: 6,640
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While I will miss them..I have not seen a Twinkie in my neck of the woods in ages. I think I would have better luck spotting a unicorn.



Mad Bloggings

4saken1
Posted: Sunday, November 18, 2012 11:48:06 PM

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On a plus note, I did hear today that Hostess has had numerous inquiries in the last couple days from interested parties wanting to buy the rights to make many of their treats. Despite recent problems, it is a multi-billion dollar industry. I imagine with Colorado and Washington legalizing weed, the prospects should be looking up! Laughing

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SuperSoldier124
Posted: Wednesday, November 21, 2012 7:01:04 PM

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4saken1 wrote:
On a plus note, I did hear today that Hostess has had numerous inquiries in the last couple days from interested parties wanting to buy the rights to make many of their treats. Despite recent problems, it is a multi-billion dollar industry. I imagine with Colorado and Washington legalizing weed, the prospects should be looking up! Laughing
i called it! there's a pic on the net of woody from zombieland that says "you legalize pot but take away Twinkies?!" thought it was kinda funny.

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