Hostess CEO to receive $1.95M in pay ...

Hostess CEO to receive $1.95M in pay following liquidation, Slate says

Posted in the Minneapolis Forum

First Prev
of 2
Next Last
Bridgework

Minneapolis, MN

#2 Nov 19, 2012
Well if Yglesias says it then it must be true. Also if Hostess asked for it, then it must have happened. Lastly when Driscoll quit in March and the request was withdrawn he is sure to still be paid even though he doesn't work there and the deal was never accepted.

Maybe try getting your news from something other then a left wing blog? Many of blogs have even corrected these stories.
Bridgework

Minneapolis, MN

#3 Nov 19, 2012
For my article being "out of date" it is funny that you quote from it.

http://management.fortune.cnn.com/2012/07/26/...

It is even more hilarious that you stop where you did and leave out:

"When the Teamsters saw the court motion, Ken Hall, the union's secretary-treasurer and No. 2 man, was irate. So much, he thought, for what he described as Driscoll's "happy talk" about "shared sacrifice." Hall says he tracked Driscoll down by phone and told him, "If you don't withdraw this motion, these negotiations are done." Hostess withdrew the motion a few weeks later when Driscoll left"
The Truth Squad

Cathedral City, CA

#4 Nov 19, 2012
This link has the most facts about hostess bankruptcy compensation I have seen on the net.

http://www.snopes.com/politics/business/hoste...
Bridgework

Minneapolis, MN

#5 Nov 19, 2012
The Truth Squad wrote:
This link has the most facts about hostess bankruptcy compensation I have seen on the net.
http://www.snopes.com/politics/business/hoste...
I provided a CNN article from 3 months later that broke down the CEO numbers and states the raise was never approved by a bankrupsty judge. Hostess filed chapter 11 on Jan 10, 2012 and any raise package would have had to of been cleared by the Judge at that point.

So once again we are looking at requested raises vs. actual raises of the CEO.
Bridgework

Minneapolis, MN

#6 Nov 19, 2012
Don't get me wrong, the 80% raises from 2011 are crazy for a company on the edge, but it was not the executive pay that brought us to this point.
Bridgework

Minneapolis, MN

#7 Nov 19, 2012
As I mentioned the $2.5 million comes from:

"In early February, Hostess had asked the bankruptcy judge to approve a sweet new employment deal for Driscoll. Its terms guaranteed him a base annual salary of $1.5 million, plus cash incentives and "long-term incentive" compensation of up to $2 million.""

That would have been a neary 300% increase if it had gone through (which it didn't).

Smart Liberal

“The one and only Smart Liberal”

Since: Aug 12

Former MN Tax Payer

#9 Nov 19, 2012
Bridgework Lies wrote:
Bridgework is smoking that wacky tobacky!
You are trying to cover up the fact that you deliberately left out parts of the article and changed other parts.

You are as dishonest as the day is long.
Amused Slew

Kent, WA

#11 Nov 19, 2012
Bridgework wrote:
<quoted text>
I provided a CNN article from 3 months later that broke down the CEO numbers and states the raise was never approved by a bankrupsty judge. Hostess filed chapter 11 on Jan 10, 2012 and any raise package would have had to of been cleared by the Judge at that point.
So once again we are looking at requested raises vs. actual raises of the CEO.
By A "BANKRUPSTY" JUDGE ??? Dude, try harder...
Bridgework

Olathe, KS

#12 Nov 20, 2012
Amused Slew wrote:
<quoted text>By A "BANKRUPSTY" JUDGE ??? Dude, try harder...
Try harder? Like edit quotes and articles to make it sound like the former CEO of Hostess (who quit 8 months ago) received a bonus?
Congratulations

Minneapolis, MN

#13 Nov 20, 2012
Amused Slew wrote:
<quoted text>By A "BANKRUPSTY" JUDGE ??? Dude, try harder...
good for him, remember liberals it is called America, and we can and will make profits and pay people what the market demands. Don't hate the players, they are just following the rules of the GAME. Waiting for Hostess brand to be sold to a non union American.

say no to the union, and close this chapter.
Amused Slew

Kent, WA

#14 Nov 20, 2012
Remember liberals, the country rejected the cons and their obvious lies, despite the stupid rhetoric of soapy guy ~! LMAOROTFu~!
it is called America

Minneapolis, MN

#15 Nov 20, 2012
Smart Liberal wrote:
<quoted text>
You are trying to cover up the fact that you deliberately left out parts of the article and changed other parts.
You are as dishonest as the day is long.
Is this a great country ( AMERICA ) where you can make as much as you want, all it takes is effort ! Something that liberals have none of.

remember in barrys world

2 million, he has to give 1 million in taxes so that the muslim can spend it how he feels, Now that is NOT fair.
Bridgework

Olathe, KS

#16 Nov 20, 2012
Amused Slew wrote:
Remember liberals, the country rejected the cons and their obvious lies, despite the stupid rhetoric of soapy guy ~! LMAOROTFu~!
You may want to wait for more than 2 weeks before you start with your revisionist history. 16.5% of the country voted for Obama and 15.6% voted for Romney. Among those who voted 51% voted Obama and 48% voted for Romney. That is also hardly a rejection.

That is unless you are saying that the nearly equal amount of voters who supported Romney over Obama don't count?
it is called America

Minneapolis, MN

#17 Nov 20, 2012
Amused Slew wrote:
<quoted text>By A "BANKRUPSTY" JUDGE ??? Dude, try harder...
bye bye teamsters, you destroyed Hostess

Hostess is on the brink of closing after years of losses and a strike started on Nov. 9 by the Bakery Workers, which represents 5,000 workers at the company. The union insists that membership voted 90% against the concessions imposed on them by the company as part of its bankruptcy, concessions other workers agreed to accept.

The Bakery Workers union held the votes on the concessions during public meetings at union halls. But the Teamsters union let its 6,700 members vote using a secret ballot, and members voted 53% to accept the concessions. Last week, as the company threatened liquidation, the Teamsters asked that the Bakery Workers hold a secret ballot vote on the concessions, in the hopes that the bakers might be more willing to accept management's terms in private to avoid a shutdown.
CRASSUS

Neenah, WI

#18 Nov 20, 2012
This is worse than paying an uneducated Jigger 20 million a year to play on a losing basketball team. An outrage!
Bridgework

Olathe, KS

#19 Nov 20, 2012
it is called America wrote:
<quoted text>
bye bye teamsters, you destroyed Hostess
Hostess is on the brink of closing after years of losses and a strike started on Nov. 9 by the Bakery Workers, which represents 5,000 workers at the company. The union insists that membership voted 90% against the concessions imposed on them by the company as part of its bankruptcy, concessions other workers agreed to accept.
The Bakery Workers union held the votes on the concessions during public meetings at union halls. But the Teamsters union let its 6,700 members vote using a secret ballot, and members voted 53% to accept the concessions. Last week, as the company threatened liquidation, the Teamsters asked that the Bakery Workers hold a secret ballot vote on the concessions, in the hopes that the bakers might be more willing to accept management's terms in private to avoid a shutdown.
You have it wrong, the teamsters voted to accept to contract. They are not the same union as the bakers.
Amused Slew

Kent, WA

#20 Nov 20, 2012
By A "BANKRUPSTY" JUDGE ??? Dude, try harder
Bridgework

Olathe, KS

#21 Nov 20, 2012
Amused Slew wrote:
By A "BANKRUPSTY" JUDGE ??? Dude, try harder
It is funny that you are obsessed with a spelling error in a thread that lies about a CEO bonus.
it is called America

Minneapolis, MN

#22 Nov 20, 2012
hey liberal lisa - who cares hostess is done and the blame will fall on barry and his association with unions.

here is one for you to cry about - ceo of medtronic 25 million for the fist 10 months of service - America what a GREAT country !!

__________
Bridgework wrote:
<quoted text>
You have it wrong, the teamsters voted to accept to contract. They are not the same union as the bakers.
Bridgework

Olathe, KS

#23 Nov 20, 2012
it is called America wrote:
hey liberal lisa - who cares hostess is done and the blame will fall on barry and his association with unions.
here is one for you to cry about - ceo of medtronic 25 million for the fist 10 months of service - America what a GREAT country !!
__________
<quoted text>
Are you calling me Liberal for pointing out your mistake?

Tell me when this thread is updated:

Subscribe Now Add to my Tracker
First Prev
of 2
Next Last

Add your comments below

Characters left: 4000

Please note by submitting this form you acknowledge that you have read the Terms of Service and the comment you are posting is in compliance with such terms. Be polite. Inappropriate posts may be removed by the moderator. Send us your feedback.

Minneapolis Discussions

Title Updated Last By Comments
News Petters attorney decries 'rush to judgment' (Oct '08) 19 min CUNextTuesday 15,119
News Global warming 'undeniable,' scientists say (Jul '10) 6 hr Phineas 35,564
Black Lies Matter Epic Fails 14 hr TAAM 4
Can't manage the gov & NOT honest or trustworthy (Nov '13) Jul 28 LIbEralS 520
BERNIE sells out! Jul 28 LIbEralS 11
Liberal top 10 list Jul 27 LIbEralS 2
News Fridley Man Charged With Attempted Murder After... Jul 26 Zom Associate 20

Minneapolis Jobs

More from around the web

Personal Finance

Minneapolis Mortgages