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October 22, 2013
16:28 // 12 months ago
November 29, 2012

Likely brand sales won’t keep Hostess from screwing employees out of millions

  • $1.1M in monthly retiree benefits will not be paid by Hostess during the company’s liquidation process according to an attorney for the company.
  • $1.5M was collected by Hostess CEO Gregory Rayburn during fiscal 2012 — an average monthly salary of $125,000 — before bonuses or other incentives.
  • $1.8M has been set aside for the incentive bonuses of 19 Hostess executives, bonuses which the company argues are needed to retain the corporate officers and other high-level managers. Maybe it’s just us, but does this sound like, “Let us pay ourselves another $2 million, or we’ll quit too!” to anybody else?source
17:27 // 1 year ago