Goodbye Hostess!

[Fairweather Pure]

I'll post the Fox News link because it's a fucking hilarious, one sided piece of shit article. (Hint: They blame the Unions)

http://www.foxnews.com/us/2012/11/16/ho ... ion-fight/


Here are some things they left out of their article:

Executives received massive bonuses while the company imposed deep cuts to workers' salaries and benefits, such as ending payments to the employees' pension plan. Among the raises was a 300 percent raise (from $750,000 to $2,550,000) for the CEO. That's a lot of Wonderbread. At least nine other top executives of the company also received steep pay raises, including one who received a pay increase from $500,000 to $900,000 and another received one that brought his salary from $375,000 to $656,256. Now they're trying to blame the unions for the closing of the plants, something they had planned to do long before the strike as part of their bankruptcy reorganization.

Hostess emerged from bankruptcy in 2009 and were almost a billion dollars in debt 3 years later. Let's give those execs raises!

They also owe their employees 23 million.

The pension part may get more attention soon because it seems that Hostess was still taking pension money out of employee checks but instead of putting it into their actual pensions they were using the money to keep the company afloat.

It's also telling at how ready and quick they were to shudder the business completely. I believe it was management's plan all along.

The brands under Hostess:

Baker's Inn
Beefsteak
Blue Ribbon
Bread du Jour
Butternut Breads
Colombo
Cotton’s
Di Carlo
Drake's
Dolly Madison
Dutch Hearth
Eddy’s
Good Hearth
Holsom
Home Pride
Hostess
J.J. Nissen
Merita
Millbrook
Mrs. Cubbison’s
Nature's Pride
Parisian
Standish Farms
Sweetheart
Toscana
Wonder Bread

I bought a box of Twinkies, HoHos, and Hostess Cupcakes to hand out to everyone at work today.

[kyoukan]

I wouldn't feed my family any of that nasty shit anyway.

[Canelek]

Should really hurt US diabetes exports.

I feel bad for the workers, but that company going away is a good thing. Of course, all that shit has a half-life close to uranium.

[Funkmasterr]

Should really hurt US diabetes exports.

Of course, all that shit has a half-life close to uranium.

[Siji]

So a judge approved the requested 1.8 million dollars in bonuses to be paid out to 19 execs to retain them over the next year to handle shutting down the company..

How do I get that job? Don't pay pensions, give myself a 300% raise, shut down the company and get another 95k+ bonus for doing so..

Fuck it. I'm done with this country. Take your rah rah we r awesum sauce patriotism bullshit and shove it up your ass. Anything awesome about this country has been sucked out, shit on and corrupted over the last 50+ years. Maybe if someone tried shutting down walmart and nascar the dumb fucks in this country would start to care.


"you're an interesting species capable of such wonderful dreams and such horrible nightmares" -- some alien

[kyoukan]

plus that 1.8 million is going towards a bunch of retards that drove the company into the ground instead of their many creditors that they legitimately owe money to.

but if they are going to fuck their own workers out of their pension plan then I don't see why they wouldn't fuck companies that lent them money in good faith.