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Greedy Hostess Executives Will Fill Their Own Stockings With Bonuses This Year

by Jeanne Sager on November 30, 2012 at 12:18 PM

TwinkiesThere's nothing like people making fools of themselves in the grocery store over who gets the last Twinkie while thousands of people are losing their jobs to make you sick to your stomach. Oh, except maybe this. The Hostess company has just gotten permission to hand out nearly $2 million in bonuses to a group of top executives.

Maybe that doesn't sound like such a big deal. After all, there are about 19 executives who will be splitting up the cash, so that's only about $92,000 apiece. 

Only. As a bonus as the company is being shut down.

Already the union has been given leave to fire 15,000 employees. Hostess can't cough up the money for people's retirement.

And the Hostess executives are getting at least $92,000 in bonuses in order to guarantee that they will stay around and actually do what needs to be done as they shut down. We're not talking about salary they're owed here. We're talking an incentive to get them to clean up the giant mess they made.

What happened to personal responsibility? You destroy something, you pick up the pieces. And you don't ask for extra money to do it, certainly not when said money could go to someone who truly needs it to feed their kids and pay the gas company.

It sounds like something a child would demand: "Hey, Mom, I just threw all my toys on the floor; how about you pay me to clean them up?" No self-respecting parent would say yes. No self-respecting executive should take the bonus.

The problem with Hostess isn't -- as many who have opted out on reading the fine print on what's gone down in the company -- with the union that begged for a living wage for their workers. The problem with Hostess is with the management that failed to move its junk food business into the health-conscious age. It's with the private equity backers who saddled the company with debt. It's with a CEO still being paid $100,000 a MONTH even as the company is folding.

Like dozens of failed corporations before it, Hostess and its executive bonuses are showing us that the people who make the mistakes are more than willing to let other people suffer for them. But God forbid they may have to face up to the consequences ... 

What do you think of the bonuses for the Hostess execs? Should they just suck it up and clean up their mess without an extra paycheck to reward them?

 

Image via Christian Cable

Filed Under: corporations

Comments

13
  • dirti...
    --

    dirtiekittie

    November 30, 2012 at 12:26 PM

    that's ridiculous. but i've lost hope for decent people working in the higher up positions of corporations anymore. this country is run on greed now, nothing more.


  • Sanja...
    -- Nonmember comment from

    Sanjacmatt

    November 30, 2012 at 12:53 PM
    Silly Rant....How can you expect the persons in charge of a for-profit company to do anything other than pay themselves when the end is near? If you are looking for fairness in life you will be dissapointed.
  • tuffy...
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    tuffymama

    November 30, 2012 at 12:55 PM
    You think this is bad? What about the Solyndra travesty, or any of a number of other instantly-defunct green energy companies which received HEAPS of millions of dollars in funding only to use it to make O campaign contributions and disappear?
  • fleur...
    --

    fleurdelys3110

    November 30, 2012 at 1:33 PM

    Agreed with tuffymama. Also, the unions' unwillingness to compromise brought about the end of Hostess. Specifically, the bakers union.


  • Shawn...
    -- Facebook comment from

    Shawna Taubner

    November 30, 2012 at 2:42 PM

    Wow, written like a true brain washed union junkie.  The workers were given a choice, work or not work. They chose not to. Simple. Unfortunately everyone else in the company loses their jobs too. And yes, that includes the people that have to stick around and clean up the mess. Unions have outlived their usefulness and are now just a tool for bullies to push their collective weight around.


  • wamom223
    --

    wamom223

    November 30, 2012 at 2:48 PM

    The Union played chicken and they lost.  Those bakers shouldn't get one cent and you are damn right the exec's should take their money.  Seriously like Tuffy said you are worried about this which is technically not even any of your business but you sure don't care about the companies that were funded from our money.  You are disgusting and you should be ashamed of yourself. You think you're pissed now about this just wait.  Someone else will buy hostess and because of the way this went down I doubt they will hire those union workers and they shouldn't.  If you want to make money like a CEO then you need to do what it takes to get there not turn into a wealth bigot.  Also I thought I'd mention that the teamsters Union blames the baker's for this and not Hostess so maybe you should do some research.  


  • Abner
    -- Nonmember comment from

    Abner

    November 30, 2012 at 3:28 PM
    They'll definitely rehire the union workers once hostess is bought out but they aren't going to pay them anywhere close to what they were getting. Heck, they're already trained. I live in Memphis where they closed one of the plants and most of the people were getting $10-$17 an a hour with the drivers getting over $20. That's a pretty good liveable wage when you consider that it's techinacally considered unskilled labor. The union DESTROYED USPS, and as taxpayers we payout Billions because of the union. You should do just a tad bit of research if you're going to be an "almost journalist."
  • BirdCo
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    BirdCo

    November 30, 2012 at 3:36 PM
    I bet those assholes are making off with a stash of Twinkie too! Evil, money grubbing, unfair jerk wads. (Btw that's all sarcasm)

  • AdryF
    --

    AdryF

    November 30, 2012 at 4:08 PM
    just want to say I agree with Tuffymama. And btw it was the liberal's presious obama care that made the company need to make the cuts in the first place.... Hmmm get your facts straight.
  • Em...
    -- Facebook comment from

    Em Chappell-Root

    November 30, 2012 at 5:51 PM

    I have no respect for any of the moms defending this greed. The Union had given in to demands repeatedly before, and said this time, they weren't backing down, that perhaps their corporate leaders should quit saddling the compnay with debt not related to operating costs and raiding it for their persona piggy bank.  When the leadership of a company fails to meet its goals or run a successful company, the LAST thing they deserve is a Bonus. Nintendo may not always operate ethically (purchase computer parts and silica from unethical companies) but they know, the first person to take a cut should be the people at the top. I'd insult all you ladies like you do the writer, but you're not worth my time. 


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