Hostess CEO $1.5 Million NOT CUT !!!

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Amused Slew

Seattle, WA

#1 Dec 3, 2012
Gregory Rayburn, Hostess Acting CEO, Won't Participate In Company-Wide Pay Cut


Gregory Rayburn


The acting CEO of Hostess Brands, the failed Twinkies-maker, will not take part in a company-wide pay cut.

Though he imposed an 8 percent pay cut for all Hostess workers, Gregory Rayburn's monthly $125,000 pay -- or $1.5 million a year -- will remain unchanged, a company spokesman told The Huffington Post on Monday. Rayburn is not on the Hostess payroll and therefore isn't subject to the imposed pay cut, the spokesman explained.

Hostess appointed Rayburn, founder and owner of Kobi Partners, a restructuring advisory firm, as acting CEO in March, two months after the company filed for bankruptcy a second time.

Hostess' liquidation plan was approved last month, as were $1.8 million in bonuses for executives. Rayburn is "not eligible to receive any bonuses, success fees, or severance," according to the spokesman.

The company's shutdown will cause about 18,000 people to lose their jobs.

Miss Piggy

Minneapolis, MN

#2 Dec 3, 2012
Amused Slew wrote:
Gregory Rayburn, Hostess Acting CEO, Won't Participate In Company-Wide Pay Cut
Gregory Rayburn
The acting CEO of Hostess Brands, the failed Twinkies-maker, will not take part in a company-wide pay cut.
Though he imposed an 8 percent pay cut for all Hostess workers, Gregory Rayburn's monthly $125,000 pay -- or $1.5 million a year -- will remain unchanged, a company spokesman told The Huffington Post on Monday. Rayburn is not on the Hostess payroll and therefore isn't subject to the imposed pay cut, the spokesman explained.
Hostess appointed Rayburn, founder and owner of Kobi Partners, a restructuring advisory firm, as acting CEO in March, two months after the company filed for bankruptcy a second time.
Hostess' liquidation plan was approved last month, as were $1.8 million in bonuses for executives. Rayburn is "not eligible to receive any bonuses, success fees, or severance," according to the spokesman.
The company's shutdown will cause about 18,000 people to lose their jobs.
Vote republican and support more great CEO's like this one!

GOP is the way!
Amused Slew

Seattle, WA

#3 Dec 3, 2012
Vote rethuglican't and vote away your wages to greedy pigs...

Of course, it "worked" so well recently, right ?? LMAOROTFU~!
Bob Schmahl

Saint Paul, MN

#4 Dec 4, 2012
Republicans are all about greed at the expense of the middle and lower lcass.
Miss Piggy

Minneapolis, MN

#5 Dec 4, 2012
Miss Piggy wrote:
<quoted text>
Vote republican and support more great CEO's like this one!
GOP is the way!
Phony Miss Piggy Wanna-Be. There! fixed it for you, trolling skeezer!
Amused Slew

Seattle, WA

#6 Dec 4, 2012
Vote rethuglican't and vote away your wages to greedy pigs...

Of course, it "worked" so well recently, right ?? LMAOROTFU~!
Bob Schmahl

Saint Paul, MN

#8 Dec 4, 2012
Dat Tru wrote:
<quoted text>No matter what name you are trolling under Slew-Dog, you are a fine representative of the jealous lower class. Or, lcass as you call it! LOL
Remeeber, I have a degree university!
Amused Slew

Seattle, WA

#9 Dec 4, 2012
Dat Tru wrote:
<quoted text>No matter what name you are trolling under Slew-Dog, you are a fine representative of the jealous lower class. Or, lcass as you call it! LOL
Not jealous at all, that would be you... I have many earned rewards, you have a moron mouth, and a failed marriage... LMAOROTFU~!
Bob Schmahl

Saint Paul, MN

#10 Dec 4, 2012
Hostess is shut down. Of course the CEO's pay is going to be cut. He is losing that job as are the union workers who shut the place down.
Miss Piggy

Minneapolis, MN

#11 Dec 4, 2012
Amused Slew wrote:
<quoted text>Not jealous at all, that would be you... I have many earned rewards, you have a moron mouth, and a failed marriage... LMAOROTFU~!
"earned rewards!" LOL, those little heart judge-it's you spend all night giving yourself are the only rewards you will ever get. Jealous little trolls can't fool your betters!
Amused Slew

Seattle, WA

#12 Dec 4, 2012
Poor piggy, I made $$$$$$$$, while you make dumb/poor posts !~ LMAOROTFCU~! Poor jealous piggy .... New deck on the island home, I see no RSVP for the party, not enough credit card points to afford a flight, right ???? Try MONEY, piggy ~!
Conservatives unite

United States

#13 Dec 4, 2012
Miss Piggy wrote:
<quoted text>
Vote republican and support more great CEO's like this one!
GOP is the way!
Good for him ( remember liberals ) this is still called America, and this is a public company, if you don't like the way they do business you don't have to rush out and buy all the cup cakes @ the store.

the good news is the brand will be sold the buildings will be sold and a new NON UNION work force can create better business !
Amused Slew

Seattle, WA

#14 Dec 4, 2012
The good news is without a top heavy $125k manager, there's room for profit and fair wages....
Bridgework

Lincoln, NE

#15 Dec 4, 2012
The 8% cut that Slew Jumbo is talking about was an across the board cut ordered by the judge overseeing the Chapter 11 re-org. That was never put into effect as Hostess went into chapter 7 liquidation.
non-starter

Saint Paul, MN

#16 Dec 4, 2012
Amused Slew wrote:
The good news is without a top heavy $125k manager, there's room for profit and fair wages....
The good news is that the person brought in to reorganize the company is still getting paid to break it up into tiny, non-union pieces.
Amused Slew

Seattle, WA

#17 Dec 4, 2012
After failed Twinkies-maker Hostess filed for bankruptcy in November, acting chief executive Gregory Rayburn imposed an 8 percent across-the-board pay cut on the companyís workers. Despite those cuts, Rayburn, who took the company over after its second bankruptcy filing in March, will not be subject to the pay cut because he is not technically a company employee, the Huffington Postís Bonnie Kavoussi reports:

Though he imposed an 8 percent pay cut for all Hostess workers, Gregory Rayburnís monthly $125,000 pay ó or $1.5 million a year ó will remain unchanged, a company spokesman told The Huffington Post on Monday. Rayburn is not on the Hostess payroll and therefore isnít subject to the imposed pay cut, the spokesman explained.

Earlier this year, Hostessí former CEO received a pay increase from $750,000 to nearly $2.5 million even as the company was struggling. The pay package was later reduced to $1.5 million, and Rayburn reduced the salaries of four other senior executives who received bonuses to just $1 until the company emerges from bankruptcy, according to a company spokesperson. Four other executives who received raises, the spokesperson said, had their salaries reduced to pre-raise levels.

Still, the company asked a judge to approve $1.75 million in bonuses for 19 executives after it filed for bankruptcy in November. The judge approved the bonuses this week, making Hostess the latest company to dole out big pay packages to executives even as their firms were failing.
non-starter

Saint Paul, MN

#18 Dec 4, 2012
The baker's union, representing 5300 employees take company from reorganization to liquidation.

How come those are never the headlines?
Bridgework

Lincoln, NE

#19 Dec 4, 2012
Amused Slew wrote:
The good news is without a top heavy $125k manager, there's room for profit and fair wages....
You did get the memo that the company is out of business?
Union salaries

Saint Paul, MN

#20 Dec 4, 2012
Amused Slew wrote:
Gregory Rayburn, Hostess Acting CEO, Won't Participate In Company-Wide Pay Cut
Gregory Rayburn
The acting CEO of Hostess Brands, the failed Twinkies-maker, will not take part in a company-wide pay cut.
Though he imposed an 8 percent pay cut for all Hostess workers, Gregory Rayburn's monthly $125,000 pay -- or $1.5 million a year -- will remain unchanged, a company spokesman told The Huffington Post on Monday. Rayburn is not on the Hostess payroll and therefore isn't subject to the imposed pay cut, the spokesman explained.
Hostess appointed Rayburn, founder and owner of Kobi Partners, a restructuring advisory firm, as acting CEO in March, two months after the company filed for bankruptcy a second time.
Hostess' liquidation plan was approved last month, as were $1.8 million in bonuses for executives. Rayburn is "not eligible to receive any bonuses, success fees, or severance," according to the spokesman.
The company's shutdown will cause about 18,000 people to lose their jobs.
Teamsters

JAMES HOFFA

GEN PRESIDENT

$294,285.00

$78,204.00

$372,489.00



C KEEGEL

GEN SEC-TREASURER

$267,080.00

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$337,601.00



ROBERT BOUVIER

INTERNATIONAL VP

$224,018.00

$2,489.00

$226,507.00



FORREST JOHNSON

INTL VP/INTL REP

$188,095.00

$35,201.00

$223,296.00



CHARLES DEANER

ASSISTANT TO GENERAL PRES

$205,267.00

$14,111.00

$219,378.00



GARY WITLEN

DEPARTMENT DIRECTOR

$203,622.00

$11,157.00

$214,779.00



RICHARD BELL

EXEC ASST TO THE GST

$198,871.00

$14,455.00

$213,326.00



JAMES MCCALL

SPEC COUNSEL

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$11,179.00

$206,494.00



WILLIAM SMITH

EXEC ASSIT TO GP

$150,000.00

$47,224.00

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JOHN WILLIAMS

TRADE DIVISION DIRECTOR

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$27,645.00

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GORDON SWEETON

INTL VP/INTL REP

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$184,874.00



JEFFREY FARMER

DEPARTMENT DIRECTOR

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$33,738.00

$184,051.00



JAMES CURBEAM

INTERNATIONAL ORGANIZER

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More...
http://www.unionfacts.com/employees/teamsters

BCTGM President Frank Hurt

Even though his union lost roughly 30% of its membership over the last decade and Frank Hurt condemns the pay cuts and other concessions his members took at Hostess, as the unionís president, Hurt saw his total compensation rise nearly 45%Ėfrom $181,840 in 2000 to $262,654 in 2011, according to Department of Labor reports.

http://www.laborunionreport.com/portal/2012/1...
buggered bois

Saint Paul, MN

#22 Dec 4, 2012
Bob Schmahl wrote:
Those salaries are nothing compared with what corporate America makes.
Union salaries don't produce any goods or services for consumers. They are a total waste.

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