Hostess Wants $1.8 Million in Executive Bonuses

[Dont Taz Me Bro]

So let me get this straight, the company failed, but they want to hand out $1.8 million in bonuses to the executives? Really?? Talk about having some brass balls.

NEW YORK (AP) -- Hostess Brands Inc. plans to ask for a judge's approval Thursday to give its top executives bonuses totaling up to $1.8 million 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 would be eligible for additional rewards depending on how efficiently they carry out the liquidation

News from The Associated Press

 

[waltky]

Granny says if dey got dat kinda money, dey shoulda kept the company goin'...

Hostess to seek approval for executive bonuses
Thursday, November 29, 2012, Wants give top execs bonuses totaling up to $1.8Mn as part of its wind-down plans

Hostess Brands Inc. plans to ask for a judge's approval Thursday to give its top executives bonuses totaling up to $1.8 million 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 would be eligible for additional rewards depending on how efficiently they carry out the liquidation.

Hostess is also seeking final approval for its wind-down, which was approved on an interim basis last week. The process includes the quick sale of its brands, which also include Wonder Bread. Hostess says it has received a flood of interest in the brands. The company's bankruptcy means loss of about 18,000 jobs.

Read more: Hostess to seek approval for executive bonuses

 

[martybegan]

So let me get this straight, the company failed, but they want to hand out $1.8 million in bonuses to the executives? Really?? Talk about having some brass balls.

NEW YORK (AP) -- Hostess Brands Inc. plans to ask for a judge's approval Thursday to give its top executives bonuses totaling up to $1.8 million 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 would be eligible for additional rewards depending on how efficiently they carry out the liquidation

News from The Associated Press

How else do you keep someone from jumping ship the second the find a better job? Hostess is done, they need people to liquidate its assets. Its not really a bonus, its holding out compensation until the job is done so they do not leave.

 

[uscitizen]

A bonus for failure?

Capitalism at it's finest.

 

[martybegan]

A bonus for failure?

Capitalism at it's finest.

these are the people who have to stick around at a failed company, liquidate the assets and close the door behind them. To keep them, you have to offer them money at the completion of thier work, and you have to give them an incentive to stick around and not go job hunting now.

Would you stay and liquidate a company, ending your own job, without compensation?

 

[Mr. H.]

A business that's been around for decades, employed thousands, contributed tens of millions to the GDP... and you bark about compensation packages?

At least they've seen more success than Solyndra- a company that threw millions in taxpayer dollars, not private capital, at fleeing executives.

 

[Sallow]

So let me get this straight, the company failed, but they want to hand out $1.8 million in bonuses to the executives? Really?? Talk about having some brass balls.

NEW YORK (AP) -- Hostess Brands Inc. plans to ask for a judge's approval Thursday to give its top executives bonuses totaling up to $1.8 million 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 would be eligible for additional rewards depending on how efficiently they carry out the liquidation

News from The Associated Press

How else do you keep someone from jumping ship the second the find a better job? Hostess is done, they need people to liquidate its assets. Its not really a bonus, its holding out compensation until the job is done so they do not leave.

 

[Sallow]

A business that's been around for decades, employed thousands, contributed tens of millions to the GDP... and you bark about compensation packages?

At least they've seen more success than Solyndra- a company that threw millions in taxpayer dollars, not private capital, at fleeing executives.

I love it when a viable company gets fleeced and the fleecers get to pick the bones before leaving.

Good stuff.

 

[Mr. H.]

A business that's been around for decades, employed thousands, contributed tens of millions to the GDP... and you bark about compensation packages?

At least they've seen more success than Solyndra- a company that threw millions in taxpayer dollars, not private capital, at fleeing executives.

I love it when a viable company gets fleeced and the fleecers get to pick the bones before leaving.

Good stuff.

Fleeced by whom? Unions?

 

[CrusaderFrank]

The Judge should make the union leaders clean the homes of the executives, cut the grass and take out the trash too

 

[Againsheila]

A bonus for failure?

Capitalism at it's finest.

these are the people who have to stick around at a failed company, liquidate the assets and close the door behind them. To keep them, you have to offer them money at the completion of thier work, and you have to give them an incentive to stick around and not go job hunting now.

Would you stay and liquidate a company, ending your own job, without compensation?

I'll bet they can get their union workers to do it a lot cheaper.....

 

[whitehall]

So let me get this straight, the company failed, but they want to hand out $1.8 million in bonuses to the executives? Really?? Talk about having some brass balls.

NEW YORK (AP) -- Hostess Brands Inc. plans to ask for a judge's approval Thursday to give its top executives bonuses totaling up to $1.8 million 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 would be eligible for additional rewards depending on how efficiently they carry out the liquidation

News from The Associated Press

It's a union thing. The contracts call for executive bonuses just like municipal worker contracts squeeze the life out of taxpayers.

 

[Toronado3800]

I hear the place was poorly run and suffered many management changes. Is this true?

 

[del]

I hear the place was poorly run and suffered many management changes. Is this true?

nah, most successful companies run through 6 ceos in ten years.

it's a proven formula for success.

 

[Staidhup]

A business that's been around for decades, employed thousands, contributed tens of millions to the GDP... and you bark about compensation packages?

At least they've seen more success than Solyndra- a company that threw millions in taxpayer dollars, not private capital, at fleeing executives.

I love it when a viable company gets fleeced and the fleecers get to pick the bones before leaving.

Good stuff.

Viable company? If you think it's such a good deal why don't you get some of your buds together and purchase it. Maybe you could teach the business community a thing or two in the process.

Better yet call your Messiah and see if he and his buds are interested in buying it out and running it as a state owned enterprise at the expense of those who pay taxes.

 

[martybegan]

So let me get this straight, the company failed, but they want to hand out $1.8 million in bonuses to the executives? Really?? Talk about having some brass balls.

How else do you keep someone from jumping ship the second the find a better job? Hostess is done, they need people to liquidate its assets. Its not really a bonus, its holding out compensation until the job is done so they do not leave.

Is that your best response? I guess it is.

 

[martybegan]

A bonus for failure?

Capitalism at it's finest.

these are the people who have to stick around at a failed company, liquidate the assets and close the door behind them. To keep them, you have to offer them money at the completion of thier work, and you have to give them an incentive to stick around and not go job hunting now.

Would you stay and liquidate a company, ending your own job, without compensation?

I'll bet they can get their union workers to do it a lot cheaper.....

And tell me how a baker knows how to divest and liquidate millions in dollars of assets? Especially with all the finanical reporting rules put into place by progressives trying to stick it business. It takes lawyers and managers to do that, not people who drive trucks and run baking equipment.

 

[Rshermr]

these are the people who have to stick around at a failed company, liquidate the assets and close the door behind them. To keep them, you have to offer them money at the completion of thier work, and you have to give them an incentive to stick around and not go job hunting now.

Would you stay and liquidate a company, ending your own job, without compensation?

I'll bet they can get their union workers to do it a lot cheaper.....

And tell me how a baker knows how to divest and liquidate millions in dollars of assets? Especially with all the finanical reporting rules put into place by progressives trying to stick it business. It takes lawyers and managers to do that, not people who drive trucks and run baking equipment.

Sorry, stupid post. It will take a couple of accountants a week or two. The CEO has very, very little to contribute. Obviously, you have never been through this kind thing.

 

[Truthmatters]

So let me get this straight, the company failed, but they want to hand out $1.8 million in bonuses to the executives? Really?? Talk about having some brass balls.

NEW YORK (AP) -- Hostess Brands Inc. plans to ask for a judge's approval Thursday to give its top executives bonuses totaling up to $1.8 million 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 would be eligible for additional rewards depending on how efficiently they carry out the liquidation

News from The Associated Press

wait what?



are you catching on to something?

 

[CrusaderFrank]

I'll bet they can get their union workers to do it a lot cheaper.....

And tell me how a baker knows how to divest and liquidate millions in dollars of assets? Especially with all the finanical reporting rules put into place by progressives trying to stick it business. It takes lawyers and managers to do that, not people who drive trucks and run baking equipment.

Sorry, stupid post. It will take a couple of accountants a week or two. The CEO has very, very little to contribute. Obviously, you have never been through this kind thing.

Obviously you've never met a real, live CEO