Hostess Wants $1.8 Million in Executive Bonuses

[martybegan]

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.

Where does it say the CEO is getting the incentive pay? It says "executives" which includes accountants, and finance people, and lawyers, and yes, accountants.

And you say I dont know how this thing works?

 

[uscitizen]

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.

Where does it say the CEO is getting the incentive pay? It says "executives" which includes accountants, and finance people, and lawyers, and yes, accountants.

And you say I dont know how this thing works?

Huh? Executives do not do any work they just tell others to do it.

 

[CrusaderFrank]

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.

Where does it say the CEO is getting the incentive pay? It says "executives" which includes accountants, and finance people, and lawyers, and yes, accountants.

And you say I dont know how this thing works?

Huh? Executives do not do any work they just tell others to do it.

Another "live in Mom's basement never met an executive" business expert

 

[martybegan]

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.

Where does it say the CEO is getting the incentive pay? It says "executives" which includes accountants, and finance people, and lawyers, and yes, accountants.

And you say I dont know how this thing works?

Huh? Executives do not do any work they just tell others to do it.

And managing isnt work? i guess foremen dont do any work, crew leaders dont do any work, and any other management types dont do any work.

Telling people what to do is work, its called Management. It is needed in organizations to get things done.

Do you think before you post?

 

[Moonglow]

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.

Jesus says he's cool with it.

 

[TakeAStepBack]

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.

And it would sit a lot better in my stomach if the 55 million in pension shortfall was also being negotiated to be paid through the liquidation process instead of becoming a taxpayer burden through the PBGC, which should not exist in the first place.

 

[Moonglow]

here the messiah doing his work.

NEW YORK (AP) — The future of Twinkies is virtually assured.

Hostess Brands Inc. got final approval for its wind-down plans in bankruptcy court Thursday, setting the stage for its iconic snack cakes to find a second life with new owners — even as 18,000 jobs will be wiped out.

The company said in court that it's in talks with 110 potential buyers for its brands, which include CupCakes, Ding Dongs and Ho Hos. The suitors include at least five national retailers such as supermarkets, a financial adviser for Hostess said. The process has been "so fast and furious" Hostess wasn't able to make its planned calls to potential buyers, said Joshua Scherer of Perella Weinberg Partners.

"Not only are these buyers serious, but they are expecting to spend substantial sums," he said, noting that six of them had hired investment banks to help in the process.

The update on the sale process came as Hostess also received approval to give its top executives bonuses totaling up to $1.8 million for meeting certain budget goals during the liquidation. The company says the incentive pay is needed to retain the 19 corporate officers and "high-level managers" for the wind down process, which could take about a year.

Twinkies maker Hostess ready for its big bake sale - Yahoo! News