Market Currents
A bankruptcy judge has cleared the way for Hostess to begin its liquidation. Flowers Foods...
-
Wednesday, November 21, 2012, 3:38 PM ETA bankruptcy judge has cleared the way for Hostess to begin its liquidation. Flowers Foods (FLO), a potential buyer for all or part of the assets, +4%.
Other date
Latest Consumer Articles
This news story has 18 comments:
Brian Driscoll, CEO, around $750,000 to $2,550,000.
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.
Tthe real problem was top 1% greed.
You ARE my favorite troll, though. Have a good Turkey Day :-)
If the workers had the brains and skills of the CEO, they would be the CEO. How hard is that for you to understand.
If they are so smart, they should go start their own companies.
Had to reply to the above comment because it was so INCREDIBLY stupid.
First, just because someone has the title "CEO" on their business card doesn't mean they have "brains and skills" - I've certainly learned that over the last 35 years. Dick Fuld of Lehman Brothers is a perfect example. Second, just because someone wants to start their own company, it isn't as easy as just snapping your fingers to make it so - especially when you don't have the financial assets available to get started. I know - I'm a small business owner. I worked for basically no salary for 3 years before things took off. Some people might make feeding their families more of a priority? Wanting something to happen and actually having it happen (or being able to even try and make it happen) are two entirely different things.
BOTH parties in this travesty are to blame. The union for not coming to grips with the fact that the ship they were on was sinking and maybe they should think about keeping their jobs and management who made sure they had all the lifeboat seats already occupied.
Workers need to realize that they are just another commodity to most corporations. It's not in most corporations charter to "care" about their employees. Corporations are in business to MAKE MONEY. Nothing more or less. Employees are replaceable assets, pure and simple. That's capitalism in it's truest sense. Still, from a personal standpoint, the bankruptcy judge should rescind those bonuses immediately. That's just disgustingly greedy.
I only want to comment on this:
"If the workers had the brains and skills of the CEO, they would be the CEO"
To which I want to point out that the CEO was unable to bring both sides to a compromise. And therefore failed in his role/leadership of the company. He is a failure. As a failure, he hardly deserves such a large salary. The union leaders share, ultimately, in his failure, as does everyone else who brought about its collapse, but the CEO, who was so certain of his expertise at running the company that he raised his salary, clearly must take the lion's share of the blame.
I'll point out this in tandem: imagine if this CEO was the guy leading the country into the fiscal cliff negotiations....
What has happened here, i.e. the Union taking the blame for collapsing the company, will happen in the fiscal cliff negotiations when Congress fails to deliver.
canadian hostess will still survive.
do you not see, you fools! ah ha ha ha ha ha! it's a cornspiracy against woody harrelson! destroy america by leveraging and bankrupting america's snack food leader.
the quintessentially canadian strategy was pioneered by lord black of cross harbour on the historic canadian farming equipment manufacturer massey fergusson. i'm sure he didn't do it on purpose, lord black likes to sue doncha know. i'm sure it just happened that the loans he'd taken out to leverage other purchases went bad and the hollowing out of industrial north america got really downhill really fast.
all over america, the strategy was taken up with vigour as a way to get one's money out of whatever daddy or your acquisition's daddy had put his life's work into.
sure, it's the unions. you keep telling yourselves that.