Forum Post: Congrats to the Unions for not giving in to the greedy Hostess 1%
Posted 12 years ago on Nov. 16, 2012, 12:18 p.m. EST by freakzilla
(-161)
from Detroit, MI
This content is user submitted and not an official statement
Big party at the unemployment office this weekend! Don't expect any good snacks though.
Okay. Unemployment is good?
http://www.reddit.com/r/politics/comments/13bzbt/hostess_management_hikes_their_own_salaries_prior/
Some creditors question Hostess pay raises approved in late July.
Brian Driscoll, CEO, around $750,000 to $2,550,000 (300% raise) Gary Wandschneider, EVP, $500,000 to $900,000 John Stewart, EVP, $400,000 to $700,000 David Loeser, EVP, $375,000 to $656,256 Kent Magill, EVP, $375,000 to $656,256 Richard Seban, EVP, $375,000 to $656,256 John Akeson, SVP, $300,000 to $480,000 Steven Birgfeld, SVP, $240,000 to $360,000 Martha Ross, SVP, $240,000 to $360,000 Rob Kissick, SVP, $182,000 to $273,008
NOTE: Some executives didn't take full raise. Source: Creditors' Committee court filings
If you can spare a moment to upvote the reddit thread, it will be much appreciated. I see unions being blamed for this all over the media but have not heard much about the compensation skewed towards the management.
Rewarding failure - familiar story. Now they will sell off the pieces for more profit and the employees will be the only ones who get screwed.
High fat low nutrition garbage.
Executive officers? Yeah - seems to be their effect in many corpoRATions these days.
Not just the Hostess Union workers. There are Hostess resale shops all over the country. Those workers have nothing to do with this and have lost their jobs, too.
Corporatism will still rule the snack market. The snack products will be picked back up.
I guess they think it's great that they will be losing their jobs - woopy de doo!