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They weren't even A reason. It would be like saying that the Big Mac I bought for $2 is the reason I can't make my mortgage payment.
As for "poorly run" - poorly run also includes allowing salary and benefit packages to reach unsustainable levels. |
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Chesapeake VA |
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(11776 post)
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i agree that the raises werent the only reason to cause the close. it was a poorly run company. and im sure with people eating heathier lately, twinkies were probably not a big selling item anymore. i prefer tastykakes myself lol.
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Philadelphia PA |
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Chesapeake VA |
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The company has $860 million in debt and has been losing ~$150 million a year for the last few years.
The total of the raises the executives got is approximately $4 million. While certainly a shitty PR move, it is by far and away NOT a big contributor to the bankruptcy. I wonder how many people reading this are aware that the CEO received a huge raise NOT because he just "got it" but because he was only promoted to CEO in the spring? Probably next to nobody. |
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Chesapeake VA |
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The New Norm Minority Rules. Of 18500 workers 5000 were Union. They should have locked them out and hired scabs.
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Saint Louis MO |
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i see someone blaming someone else ( obama) instead of blaming the company for screwing over their workers to benefit themselves.
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Philadelphia PA |
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CopN, do you see that Hostess saw what was coming and got ahead of the curve. How many business are sitting there to pay more taxes and healthcare costs? Business are go to figure ways around Obamacare just like Freeloaders spend their time trying to get more free stuff. It's human nature, called self interest.
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Denver CO |
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(1176 post)
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" Actually saw one idiot selling a box of Twinkies for $1500."
The person BUYING a box of Twinkies for $1500 is the idiot. The seller is a genius. |
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Chesapeake VA |
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Hostess Bakery, is the first casualty of the Obamacare and the Unions.
yea lets blame obama for everything. while hostess was trying to cut bakers pay by 8% + benefits by 32% the ceo gave himself a 300% raise. 9 executives received 60-100% raises while filing their 2nd bankruptcy. meanwhile they stopped paying into the employees pension owing over 160 million dollars. but yea lets blame the obamacare for it. |
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Philadelphia PA |
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There's an entire forum for that.
T |
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Danville PA |
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(1839 post)
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