The DOJ is objecting to a plan to pay Hostess Brands execs $1.8M in retention bonuses while the...


The DOJ is objecting to a plan to pay Hostess Brands execs $1.8M in retention bonuses while the company is wound down. It's the latest example of Justice trying to prevent such payments to managers at failing businesses. "They're objecting more and they're finding more success," says Lawrence Friedman, a former director of the Department's Trustee Program.

Comments (5)
  • kwm3
    , contributor
    Comments (2454) | Send Message
     
    Where does one get these gigs, where you get paid a bonus to fail? I get paid for success only, and I think most others are in the same boat. I'd tell these execs: see ya' good luck finding another gig. We have a million or more highly qualified people who are laid off and can step in quickly.
    21 Nov 2012, 06:09 AM Reply Like
  • youngman442002
    , contributor
    Comments (5123) | Send Message
     
    actually if you know its failing the rats leave the ship..you need to pay extra for people to stay and to wind down the company...there still is millions in equipment and inventory that needs to be cleaned up ..shut down...mothballed...in... for sale....most people will not want to do that...they will want to get on to a new job if possible....that is what these bonuses do...but the press makes them sound bad...
    21 Nov 2012, 07:04 AM Reply Like
  • Hubert Biagi
    , contributor
    Comments (843) | Send Message
     
    Didn't the government transfer millions in payment to Solyndra while in bankruptcy? Didn't those execs get bonuses?
    21 Nov 2012, 08:39 AM Reply Like
  • frosty
    , contributor
    Comments (720) | Send Message
     
    When your old car is done, you send it to the junk yard where any salvageable parts are resold and the rest becomes scrap metal. Someone will buy Hostess at some price and take what is useable. Keeping any of its people is unnecessary, and hiring an army of lawyers to oversee the process is even more unnecessary.
    21 Nov 2012, 07:32 AM Reply Like
  • youngman442002
    , contributor
    Comments (5123) | Send Message
     
    Yep its just a production line....with some real estate now...the lines will move to Mexico I bet...Bimbo....
    21 Nov 2012, 08:28 AM Reply Like
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