Image source: Wikimedia Commons

BY KERRY LEARY

ANCHOR MEGAN MURPHY

While Hostess heads toward a shutdown, it's trying to pay $1.8 million in bonuses to execs on their way out the door. The company plans to ask for a judge’s approval Thursday. Think Progress reports:


Even as it blamed unions for the bankruptcy and the 18,500 job losses that will ensue, Hostess already gave its executives pay raises earlier this year. The salary of the company’s chief executive tripled from $750,000 to roughly $2.5 million, and at least nine other executives received pay raises ranging from $90,000 to $400,000.”

Hostess’ decision to file for bankruptcy came after disputes with its union workers. Fox Business correspondents discussed the bonuses Thursday.

“Two sides to every story and there has to be shared sacrifice. And as far as Hostess, management didn't keep up with the times and taking huge bonus when their company was bankrupt and there are two sides to every story and everybody is in it together.”

But a letter to the editor of the St. Louis Post-Dispatch offers another opinion.

“I can't believe the executives at Hostess went to court wanting to declare bankruptcy and yet wanting to give bonuses to the same people who drove the company there, while they continue to ask workers for concessions. Thank God the judge had some common sense and made them go back to mediation.”

According to The Week, Hostess will most likely be sold to the highest bidder, which means we can all still enjoy twinkies and sno balls. Hostess's bankruptcy meant the loss of about 18,000 jobs across the U-S.

Hostess Seeking $1.8 Million in Executive Bonuses

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Nov 29, 2012

Hostess Seeking $1.8 Million in Executive Bonuses

Image source: Wikimedia Commons

BY KERRY LEARY

ANCHOR MEGAN MURPHY

While Hostess heads toward a shutdown, it's trying to pay $1.8 million in bonuses to execs on their way out the door. The company plans to ask for a judge’s approval Thursday. Think Progress reports:


Even as it blamed unions for the bankruptcy and the 18,500 job losses that will ensue, Hostess already gave its executives pay raises earlier this year. The salary of the company’s chief executive tripled from $750,000 to roughly $2.5 million, and at least nine other executives received pay raises ranging from $90,000 to $400,000.”

Hostess’ decision to file for bankruptcy came after disputes with its union workers. Fox Business correspondents discussed the bonuses Thursday.

“Two sides to every story and there has to be shared sacrifice. And as far as Hostess, management didn't keep up with the times and taking huge bonus when their company was bankrupt and there are two sides to every story and everybody is in it together.”

But a letter to the editor of the St. Louis Post-Dispatch offers another opinion.

“I can't believe the executives at Hostess went to court wanting to declare bankruptcy and yet wanting to give bonuses to the same people who drove the company there, while they continue to ask workers for concessions. Thank God the judge had some common sense and made them go back to mediation.”

According to The Week, Hostess will most likely be sold to the highest bidder, which means we can all still enjoy twinkies and sno balls. Hostess's bankruptcy meant the loss of about 18,000 jobs across the U-S.

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