In seeking court permission for its demise, Hostess said it wants to pay as much as $1.75 million in incentive bonuses to 19 senior managers during the liquidation. Hostess is asking the judge to approve its plan — which would result in the firing of thousands of employees — to shut down 36 bakeries, 242 depots, 216 retail stores, and 311 hybrid depot-store facilities, according to court filings. There are 58 other leased or owned sites used for storage, warehousing of products or parking.
What I’m wondering is in what universe it makes sense for a company to dole out $1.75 million in bonuses to 19 senior managers while at the same time attempting to lay off 18,500 workers.
When will people wake up and realize that workers and unions aren’t the problem – poor-performing executives and vulture capitalists are.
I’m sure spirited arguments can be made both ways regarding fault, is it corporate management or union workers? Reality is that it is likely some of both, but, more than either of those reasons/excuses is that the U.S. borders for trade are wide open and fuel the management/worker tensions. Off shore labor is dirt cheap. American labor is not. So when management gets squeezed they have options, raise the price of Twinkies and risk not being competative in the market place, or, move the plants to Mexico and maintain profit margins. This example over simplifies but the point is until the U.S. get serious about locking down borders to trade the American economic engine will continue to idle down and go to China, Mexico and others. That’s bad news for citizens.
Citizens are responsible to drive government to address int’l trade borders. Government is a direct reflection of the citizens.
Citizens do not appear to be interested in addressing trade borders at this time.
Therefore, the wrangling will continue and the outcome(s) are totally predictable.
WORSE, THE 1.75 MILLION1 IS JUST THE TIP OF THE SWORD… SOON AS ALL OF THE BOLOGNA IS OVER WITH, DON’T FORGET THE “REAL” OWNERS OF THE HOSTESS CORPORATION, WILL BE SELLING OUT ALL OF THE DOZENS AND DOZENS OF PROPERTIES INVOLVED… WORTH, WHAT, 50 TO 100 TIMES THE “MEAGER” STINKIN’ “BONUSES” THESE CARPET BAGGERS ARE GIVING THEMSELVES??? VULTURE CAPITALISTS IS TOO NICE A TERM TO GRANT CHARLATANS READY TO JUST “DESTROY THE LIVES” OF ALMOST 19,000 HUMAN BEINGS… ANY FIRST YEAR BUSINESS ADMINISTRATION NEOPHYTE CAN SEE RIGHT THROUGH THIS ‘SMOKE SCREEN’… WHAT HAS TO HAPPEN TO GET THESE “SCROOGES” TO SEE PAST THE END OF THEIR NOSES??? HOW ABOUT SIMPLY GOIN’ TO THE BLACK BOARD AND RE-ADDRESSING THE TRUE AND HONEST POSSIBILITIES THIS HUGE COMPANY IS CAPABLE OF BECOMING? HAS RESTRUCTURING AND A RENEWED SOLITARY EFFORT BECOME “PASSE” IN THEIR ECONOMIC WORLD?
HOPE THEY’RE ALL HAVING A GREAT THANKS GIVING AND ARE LOOKING FORWARD TO A GREAT CHRISTMAS, EH??? WHAT THE HELL, 18,500 OTHER PEOPLE HAVE ALREADY BEEN SUFFERING THE WRATH OF THEIR TWISTED ECONOMIC LESSONS, WHY STOP NOW? CHRISTMAS…. BAH, HUMBUG… SHOVE YOUR NOSES IN THE COLLECTIVE TROUGH AND JUST WRITE OFF THE THOUSANDS OF FAMILIES WHO HAVE BEEN AND ALREADY ARE SUFFERING THE INDIGNITIES OF POVERTY AND HUMILIATION… IF THERE IS AN AFTERLIFE, WELL, YOU KNOW… IPSO FACTO