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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.

Winter Garden FL
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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.

Philadelphia PA
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btw

I know nothing of the detailed financials of this company. It seems it's been badly run for a long time and was in need of major re-working. It seems that the costs imposed by Obamacare could not possibly have caused this going back several years, although they could aggravate it should the company have been continuing operations.

Also - the top four executives were paid $1 for 2012. Their salaries (with raises) were to be re-instated in 2013.

The new CEO was offered this "big raise" (i.e. promotion) in order to incentivize him to stay and try to run the flailing company. Yes, a new $1.95 million pay package, but they just got rid of the old CEO who they were paying $1.4 million a year to.

All in all - this is nothing but a ruse. There is absolutely no way the executive pay packages is what brought this company down. Period.

Winter Garden FL
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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.

Winter Garden FL
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The New Norm Minority Rules. Of 18500 workers 5000 were Union. They should have locked them out and hired scabs.

Imperial 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.

Philadelphia PA
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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.

Winter Garden FL
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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.

Philadelphia PA
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There's an entire forum for that.

T

Danville PA
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LOL @ that story. Idiot.

Also, speaking of Hostess going out of business, people on eBay are selling boxes of Hostess products. Actually saw one idiot selling a box of Twinkies for $1500. Also saw an auction for a box of Twinkies where the bidding had gone over $50.

T

Danville PA
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TOPIC: W T F