Union greed may kill company and Mongo!

http://www.kwch.com/business/kwch-h...rs-thursday-deadline-20121114,0,2860295.story

 

Nothing like tightening the noose on your own neck.

 

I've had my eye on this one for a while. My sister is pretty high up on the corporate ladder for Hostess in Kansas City. Maybe not for much longer though...

 

Better stock up now! Stuff should last a few nuclear winters

 

Eh, "Hostess Brands Inc. is seeking court permission for a new employment deal that would hand millions of dollars to Chief Executive Brian J. Driscoll, "architect" of the company's plan to cut costs and jettison its pension plans.

In court papers filed Tuesday, the company asked a judge to bless an agreement that would guarantee Mr. Driscoll $1.5 million in a yearly base salary plus annual cash incentives and a "long-term incentive compensation award of up to" $2 million." They're all in it and greedy

http://online.wsj.com/article/SB10001424052970204369404577211410150254418.html

 

They just closed / locked out a Butternut Bread / Hostess plant here in Cincy on Monday.....

 

Got any more recent info? Driscoll hasn't been at Hostess since March.

 

While the amount any CEO makes is an easy target.... the previous post with that article tells me that alot of those union workers are just as greedy... they just make less money



Without the new plan.. the company ceases to exist... How does that help anybody?

 

*KABLAMO*

Sorry Kang, you just got your nuts kicked up and over your head.

 

and I still stand by my post... doesn't matter who the CEO is... the reality is still basically the same.

 

The reality is that the company will file for liquidation today if they don't come back to work. What's better, stand your ground and lose your job or go back to work and accept a 8% cut? Zero income or 8% less, which would you choose?

 

I have worked for a company when I lost a 6K bonus, and took a 10% pay cut in order to keep my job, and the company to stay solvent.


Was I happy... Hell no, but I was glad to keep the job...


The bonus came back, but the pay cut wasn't reversed, raises were from that point forward.

 

It's a bit of a shock that a company that provides this type of ..."nourishment"... would go under in the diabetes state of america...

 

Dave, I completely agree. It's much better to have a job even if it's X% down from what you have been making.

 

I worked for a company where the union did just that.

 

LOL, I didn't do some real deep research.....obviously . Just did a quick search on CEO pay for Hostess and that popped up.

 

Ehh, Little Debbie will take up the slack. They don't have to worry about the unions and still treat their employee's right.