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Thread: Hostess threatens to lay off 18,000 employees unless strike ends[W:521]

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    re: Hostess threatens to lay off 18,000 employees unless strike ends[W:521]

    Quote Originally Posted by Dickieboy View Post
    This is overly simplistic. First, they could not give themselves raises WITHOUT APPROVAL FROM THE BANKRUPTCY COURT! Secondly, how would the company assure that management would STAY employed without some enticement? Considering that the ongoing operation required capital infusion what would motivate these PE firms to invest without some form of stable management in place? Or is it you opinion that a 'ship can captain its self'? I'm sure the PE firms would be comfortable with that...
    Of course. It is useless to argue with people who have this mindset. Big Business = Bad.
    The devil whispered in my ear, "You cannot withstand the storm." I whispered back, "I am ​the storm."

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    re: Hostess threatens to lay off 18,000 employees unless strike ends[W:521]

    Quote Originally Posted by Dickieboy View Post
    Secondly, how would the company assure that management would STAY employed without some enticement?
    SAme goes for the bakers.

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    re: Hostess threatens to lay off 18,000 employees unless strike ends[W:521]

    Quote Originally Posted by winston53660 View Post
    SAme goes for the bakers.
    Management would probably have been delighted if some of the old-timers decided they wanted to leave the company. They are dispensable. Top management rarely is.
    The devil whispered in my ear, "You cannot withstand the storm." I whispered back, "I am ​the storm."

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    re: Hostess threatens to lay off 18,000 employees unless strike ends[W:521]

    Quote Originally Posted by MaggieD View Post
    Management would probably have been delighted if some of the old-timers decided they wanted to leave the company. They are dispensable. Top management rarely is.

    Like the management at Hostess that went into bankruptcy twice and increased and voted themselves pay raises. Quite the management team there......

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    re: Hostess threatens to lay off 18,000 employees unless strike ends[W:521]

    Quote Originally Posted by Dickieboy View Post

    This is overly simplistic. First, they could not give themselves raises WITHOUT APPROVAL FROM THE BANKRUPTCY COURT!
    Which is why they did it before filing for bankruptcy.

    Quote Originally Posted by Dickieboy View Post

    Secondly, how would the company assure that management would STAY employed without some enticement? Considering that the ongoing operation required capital infusion what would motivate these PE firms to invest without some form of stable management in place? Or is it you opinion that a 'ship can captain its self'? I'm sure the PE firms would be comfortable with that...
    Why would they leave?? They only had to give up their salary for no more than 8 months. And the only reason they did that was in a failed attempt to save face after it became public knowledge that they had given themselves raises to offset the expected pay cuts from filing for bankruptcy -- an option not available to the rank & file employees they were insisting had to take a pay cut along with a salary freeze.

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    re: Hostess threatens to lay off 18,000 employees unless strike ends[W:521]

    Quote Originally Posted by winston53660 View Post
    Like the management at Hostess that went into bankruptcy twice and increased and voted themselves pay raises. Quite the management team there......
    Yeah, you're right. They went into bankruptcy...twice, with management oversight AND the Bakers got a check even AFTER management voted themselves pay raises...NOW the bakers voted against concessions AND NOW no one will get a check...quite logical...thanks for that!
    "The fact that we are here today to debate raising America's debt limit is a sign of leadership failure" - 2006 Senator Obama...leadership failure indeed!

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    re: Hostess threatens to lay off 18,000 employees unless strike ends[W:521]

    Quote Originally Posted by Sheik Yerbuti View Post
    Which is why they did it before filing for bankruptcy.


    Why would they leave?? They only had to give up their salary for no more than 8 months. And the only reason they did that was in a failed attempt to save face after it became public knowledge that they had given themselves raises to offset the expected pay cuts from filing for bankruptcy -- an option not available to the rank & file employees they were insisting had to take a pay cut along with a salary freeze.
    WAY OFF...dude that 'voted himself the raise' is not the same $1/yr dude...catch up!
    "The fact that we are here today to debate raising America's debt limit is a sign of leadership failure" - 2006 Senator Obama...leadership failure indeed!

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    re: Hostess threatens to lay off 18,000 employees unless strike ends[W:521]

    Quote Originally Posted by MaggieD View Post
    Of course. It is useless to argue with people who have this mindset. Big Business = Bad.
    Big business isn't bad. It's overly greedy executives who are bad.

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    re: Hostess threatens to lay off 18,000 employees unless strike ends[W:521]

    Quote Originally Posted by Dickieboy View Post
    WAY OFF...dude that 'voted himself the raise' is not the same $1/yr dude...catch up!
    Kindly explain how they have a $1 per year salary when that self-imposed salary can't even be in effect for a year??

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    re: Hostess threatens to lay off 18,000 employees unless strike ends[W:521]

    Quote Originally Posted by Sheik Yerbuti View Post
    Which is why they did it before filing for bankruptcy.
    And FACTUALLY incorrect:

    The company was going to pieces -- again -- and Hostess filed for Chapter 11 protection -- again -- in January of this year.

    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. If Hostess liquidated or Driscoll were fired without cause, he'd still get severance pay of $1.95 million as long as he honored a noncompete agreement.
    Hostess is bankrupt … again - Fortune Management

    Try again...
    "The fact that we are here today to debate raising America's debt limit is a sign of leadership failure" - 2006 Senator Obama...leadership failure indeed!

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