Good News! Hostess Top Executives Still Got Richer As Company Collapsed!


It’s a happy Holiday story. Gawker is reporting the the execs at Hostess managed to line their pockets as they filed for bankruptcy. It’s a Christmas miracle !

Read more at gawker.com.

79 Comments

  1. AnthonyLoman

    November 17, 2012 at 5:52 pm

    The CEO gave himself a nearly 2 million dollar raise and then blamed the union for the companying folding. Hopefully a laid off worker facing homelessness just kills him.

    • ThePittsburgher

      November 17, 2012 at 7:09 pm

      @AnthonyLoman The union did kill this company. He liquidated the company because there is no good use for a cream filling machine at his house. Unions are killing America you uneducated Cunt

      • AnthonyLoman

        November 17, 2012 at 7:22 pm

        @RedLightSwap Alright Adam Smith, you explain to me how a piece of shit CEO can give management 300 percent raises and then demand the workers take pay cuts.

      • Cletus from Brooklyn

        November 17, 2012 at 7:43 pm

        @AnthonyLoman @RedLightSwap very easy my friend. He gives himself a raise and he doesn’t tell his employees. Shhhhhhhh it’s a secret…

      • Recyclerz

        November 17, 2012 at 7:54 pm

        @AnthonyLoman @RedLightSwap
        Anthony, how else would he get the money for the C level pay raises? Duh.
        😉

      • AnthonyLoman

        November 17, 2012 at 8:02 pm

        @Recyclerz  @AnthonyLoman  @RedLightSwap For starters they already have a copyright on “Twinky”. You could try to expand the product line to other twink prouducts, you know lube, wine coolers, AIDS medications etc.

      • kylechristo4

        November 18, 2012 at 7:02 am

        @RedLightSwap  @AnthonyLoman  I’m pretty sure Mr. Loman went to law school. Oh, but you watch Fox News so you know better.

  2. Antilokhos

    November 17, 2012 at 6:08 pm

    They deserved their money, they are the job creators.  How dare anybody question them!

  3. DjKB

    November 17, 2012 at 6:17 pm

    MmMmMmmMm Mysterious creamy cen†er!!

  4. Foggy_Otis

    November 17, 2012 at 6:23 pm

    Ain’t that always the case!?

  5. eddietirebiter

    November 17, 2012 at 6:34 pm

    While the working class spends all day trying to figure out how we are going to make ends meet, the upper class is spending the same time figuring out how to stack the deck.

  6. XL XTall

    November 17, 2012 at 6:42 pm

    The cream filling always rises to the top.

  7. Pool Keepers Son

    November 17, 2012 at 6:53 pm

    I don’t know if hostess did this but the company I worked was going to shit can a division so they gave everyone in that division big raises and monthly bonuses so they would finish out the job, otherwise everyone would have quit. So maybe something along those lines is what happened so those regular employees got to keep working for a few more months

  8. ThePittsburgher

    November 17, 2012 at 7:08 pm

    Fuck off! This is how corporate america works. Its called liquidation. Its too expensive to continue production but you still do not want to go home with nothing so you sell the assets and cut your losses. 
     
    And this all happened because of the shitty unions that choke american business so bad that we don’t have work period. Good that ass-clown Obama got re-elected so its cheaper to sit on your ass and collect food stamps than to actually go to work.

    • Antilokhos

      November 17, 2012 at 10:14 pm

      @RedLightSwap Watch out guys, we’re dealing with a badass over here.

    • MelvinCalvin

      November 18, 2012 at 4:01 am

      @RedLightSwap Soo, they liquidated all the company’s assets and used that money to pay for raises for themselves. Did they own the company’s assets? I don’t think so. So, shouldn’t that money go to the stockholders whom, technically, are the owners of the company? Why to defend a cold, gutless criminal asshole, hulkamaniac.
       
      I can’t believe I’m arguing with a guy who has picture of Obama next to Stalin and Hitler as his avatar. This is what my life has come to.

      • ThePittsburgher

        November 18, 2012 at 11:55 am

        you just have to follow what happened. No one got a raise It was all divided up in a profit sharing check. Every person who owned shares got a percent of the liquidation. The higher-ups just got the most because they owned the most stock. If you owned one share you would be getting a check of your cut of the final liquidation profit.

      • ThePittsburgher

        November 18, 2012 at 11:59 am

        @MelvinCalvin Its the same thing Andrew Carnegie did to under preforming steel mills and how Pittsburgh was built. Granted Carnegie built parks and buildings and invested in new companies when these ass clowns will probably just buy a boat and diddle little boys on it or what ever rich people seem to do.

  9. Gunner

    November 17, 2012 at 7:25 pm

    This is no surprise in a society that values money more than anything else!

    • K Dubya

      November 17, 2012 at 9:34 pm

      @Gunner yeah maaaaaaaaaaaaaan!

      • MelvinCalvin

        November 17, 2012 at 9:54 pm

        @K Dubya  @Gunner What a predictable, empty and cynical response.

      • K Dubya

        November 17, 2012 at 10:29 pm

        @MelvinCalvin  @Gunner yeah maaaaaaaaaaaaaaan!

      • MelvinCalvin

        November 18, 2012 at 3:55 am

        @K Dubya  @Gunner You make a compelling argument.

      • K Dubya

        November 18, 2012 at 8:52 am

        @MelvinCalvin  @Gunner I guess that 6 and a half years of high school paid off!

  10. jerkstoresean

    November 17, 2012 at 7:27 pm

    It was a piece of cake!! Lololololol

  11. Beer

    November 17, 2012 at 7:29 pm

    And the politicians are not doing the same thing…

  12. Cletus from Brooklyn

    November 17, 2012 at 7:43 pm

    The taxes are going to kill them anyway…

    • MelvinCalvin

      November 17, 2012 at 9:52 pm

      @Cletus from Brooklyn Good.

  13. seamus98

    November 17, 2012 at 8:09 pm

    remember grand union supermarket? the guys running that wonderful company squeezed the hell out of that company until there was nothing left.

  14. Nosqatch

    November 17, 2012 at 8:30 pm

    Other companies make equally delicious fruit pies and cream filled cupcakes, but Hostess does have the best HoHo and Twinkie type products. Snowballs suck. That’s probably why they had financial problems- trying to force their “coconut on junk food” agenda on America.

    • Pepper Hicks Coughing Fit

      November 17, 2012 at 8:53 pm

      Twinkies are great once or twice a year.

      • LinkSL1

        November 18, 2012 at 11:58 am

        @Pepper Hicks Coughing Fit
         Or 25 years from now.

      • ThePittsburgher

        November 18, 2012 at 11:59 am

        @LinkSL1  @Pepper Hicks Coughing Fit Or if you need a sponge to clean your bathtub

  15. indpendnt

    November 18, 2012 at 12:05 am

    Well, if the Unions weren’t so FUCKING GREEDY, they’d have employed workers.

    • Guilty Bystander

      November 18, 2012 at 4:05 am

      @indpendnt We’re living in the new age of robber barons, and yet some people still blame labor unions for everything. How amusing.

      • indpendnt

        November 18, 2012 at 12:28 pm

        @Guilty Bystander ACTUALLY, they were warned that if they weren’t able to come to an amicable agreement last week, the company would be liquidated. Now non union and union employees are all out of work. Great job!

      • Antilokhos

        November 18, 2012 at 7:21 pm

        @indpendnt  @Guilty Bystander Thank god the job creators were able to give themselves a raise first.  Now they can go and <s>run other companies into the ground</s> create more jobs.  As long as Obama doesn’t say anything to hurt their feelings.  I really miss the Gilded Age, now thanks to Obama we’ll have to go back to those draconean Clinton levels of taxes.  What next?  We go back to that commie Eisnehower’s tax rate?

      • indpendnt

        November 18, 2012 at 7:44 pm

        @Antilokhos  @Guilty Bystander YES, most companies are willing to close a company because they got their feelings hurt. HONESTLY, HOW FUCKING STUPID ARE YOU?

    • Shaggyballz74

      November 18, 2012 at 7:41 am

      @indpendnt so your answer to a story about a bunch of executives lining their pockets with as much money as they can. Is “FUCKING GREEDY UNIONS”.  I see, you aren’t really against greed. You just hate when employees do it, not when employers do it.
      See dipshits like you are what’s wrong with this country. The story was about a bunch of greedy executives. If the story was about the Unions failures then I would agree.  It wasn’t though, but your tiny brain really couldn’t wrap your head around the story. Stop fucking spewing agenda driven bullshit.  
       
      If a story about a husband beating his wife was posted. You would tell us all the things she did wrong to deserve the beating.

      • Ziggy Stardust

        November 18, 2012 at 10:37 am

        @Shaggyballz74  @indpendnt Actually, they’re BOTH to blame.

      • creepboot45

        November 18, 2012 at 1:08 pm

        @Shaggyballz74  @indpendnt This may be too simplistic, but the owners of a company  can do what they want with it.  The union was warned and the union felt that people losing jobs was worth making a stand.  I feel that  the union was wrong.  The only winner in these situations is the union itself. It goes on and continues to collect dues. The execs, although they cashed out, no longer have a company to continue to make money with. The workers are jobless right before the holidays.  Stay “organized” dipshits!

      • indpendnt

        November 18, 2012 at 1:45 pm

        @creepboot45  @Shaggyballz74 I think it is FUCKING hilarious that these assholes are mad at the company for doing what they’d do and are trying to do. These assholes made GREAT money. Had FANTASTIC benefits, and still wanted more! Acting like they are the only ones making concessions in an economy that is made worse by their HERO BHO. Got what you wanted, MORE unemployment in a stumbling economy with an anti-business GUVAMNT!

      • indpendnt

        November 18, 2012 at 1:47 pm

        @Shaggyballz74 I’d only say she was at fault if she had TWO black eyes! GO SHAVE YOUR NUTS AND SHUT THE FUCK UP!

      • Shaggyballz74

        November 18, 2012 at 4:23 pm

        @indpendnt Hostess file for bankruptcy in 2004, ”
         For 5 years financial engineers from consultancies and investment banks worked to find a way out of bankruptcy, and settled on adding even MORE debt, so that – perversely – in 2009 the renamed Hostess had $670M of debt – at least 2/3 the total asset value!
        Since then, still trying to sell the same products, margins continued declining.  Hostess lost a combined $250M over the last 3 years.”
         
        I guess the workers also ran the company into the ground.

      • indpendnt

        November 18, 2012 at 4:54 pm

        @Shaggyballz74 well, holding a company hostage for a raise during a struggling economy when people are cutting out unnecessary items seems like it IS THE UNIONS FAULT the assholes are now out of work permanently.So yes it is the workers fault. By the way, where are your sources for these facts you are spewing?
         
        Don’t write back until you get the ball hair under control. It’s coming out the top and the cuff of your pants. YOU SHOULD BE EMBARRASSED!

      • bthebreeze

        November 18, 2012 at 6:44 pm

        @Shaggyballz74  @indpendnt You can’t argue with somebody that works for $7.00 an hour and thinks if he spouts the Repub. talking points, votes Repub., he will soon be RICH and able to join their club.
         
        George Carlin said it best,”It’s a fucking club and you and i ain’t in it.”

      • indpendnt

        November 18, 2012 at 6:59 pm

        @bthebreeze  @Shaggyballz74 CAN YOU SAY & COPY PASTE COMMENTS?

    • K Dubya

      November 18, 2012 at 11:46 pm

      @indpendnt Christ, can’t you guys go to foxnews.com or something?

      • ullh82w8

        November 19, 2012 at 12:18 am

        @K Dubya  can you go back to that fantasy world where you are looking at your double rainbows? Fucking SLAG!

      • K Dubya

        November 19, 2012 at 7:23 am

        @ullh82w8 good one

  16. HummusMagnate

    November 18, 2012 at 1:46 am

    Bailout coming soon. Don’t worry citizen theyll be ok.

    • MelvinCalvin

      November 19, 2012 at 2:51 am

      @HummusMagnate Doubt if Hostess was big enough for a bailout.

  17. FLprodivider66

    November 18, 2012 at 6:18 am

    I’d say I’m gonna miss that “creamy goodness” but I’m afraid it would sound too gay? :

    • K Dubya

      November 18, 2012 at 8:50 am

      @FLprodivider66 nah, not at all

    • Scott_Chandwater

      November 18, 2012 at 3:46 pm

      @FLprodivider66 you are not wrong. no homo.

  18. K Dubya

    November 18, 2012 at 8:51 am

    Fuck Hostess, Team Little Debbie BITCHES!!!

  19. DerekJamesSmith

    November 18, 2012 at 9:14 am

    Fuck Hostess Drakes cakes are better

    • mascan42

      November 18, 2012 at 2:42 pm

      @DerekJamesSmith Too bad Hostess owns Drakes.  They’re both fucked.

  20. declinometer

    November 18, 2012 at 9:24 am

    Good for him you jealous cry baby. Get off of your ass and you could be rich too!

  21. CryBaby1

    November 18, 2012 at 10:29 am

    No twinkies? How is Fez going to practice for his “first time”?

    • K Dubya

      November 18, 2012 at 1:35 pm

      @CryBaby1 Are you implying he puts the twinkie up his as or sticks his dick in the twinkie? Just want to be sure.

  22. Ziggy Stardust

    November 18, 2012 at 10:40 am

    Yes, it’s lead by example. Greedy execs= greedy employees = dead company. Any questions ?

  23. ThePittsburgher

    November 18, 2012 at 12:03 pm

    If this was Little Debbie I’d be upset.

  24. ShowerBench

    November 18, 2012 at 2:05 pm

    Able-bodied government freeloaders and greedy and corrupt unions are legion and threaten to bring down the economy and country no matter what the left wants to claim.  Acknowledging this is verboten on the Obama left and there is a reflexive hatred for job creators no matter what the reality for a particular company’s downfall might be.  A dangerous development –  “A rising tide lifts all boats” can be true.  “A receding tide that sinks us all but at least he’s not richer than me so we’ll all be better off” can’t be.

  25. ShowerBench

    November 18, 2012 at 2:06 pm

    Able-bodied government freeloaders and greedy and corrupt unions are legion and threaten to bring down the economy and country no matter what the left wants to claim.  Acknowledging this is verboten on the Obama left and there is a reflexive hatred for job creators no matter what the reality for a particular company’s downfall might be.  A dangerous development –  “A rising tide lifts all boats” can be true.  “A receding tide that sinks us all but at least he’s not richer than I am so we’ll all be better off” can’t be.

  26. ShowerBench

    November 18, 2012 at 2:07 pm

    Able-bodied government freeloaders and greedy and corrupt unions are legion and threaten to bring down the economy and country no matter what the left wants to claim.  Acknowledging this is verboten on the Obama left and there is a reflexive hatred for job creators no matter what the reality for a particular company’s downfall might be.  A dangerous development –  “A rising tide lifts all boats” can be true.  “A receding tide sinks us all but at least he’s not richer than I am so we’ll all be better off” can’t be.

    • Recyclerz

      November 18, 2012 at 3:06 pm

      @ShowerBench  Dear Ms.Bench  –  I realize this is the official party line in Aynrandistan or wherever it is that you reside these days but it bears no relationship to the actual positions of anyone who is currently serving in the Executive Branch nor does it represent the position of 99% of those who voted for the President’s re-election, myself included.  (Of course there is always the troublesome 1% as we all know.)  Everyone respects actual job creators and does not begrudge them their success.  However, when Papa John starts whining in public and threatening to “Go Galt” because the government might  force him to pick up a small sliver of the costs for his employees health care that he is currently foisting on US taxpayers and current insurance premium payors (through Medicaid and unreimbursed emergency room care) then he is going to get a bit of PR grief.  And he deserves every bit of it, if you REALLY believe in market solutions.
       
      And frankly, if you really believe that what you wrote in your post above (and aren’t just trolling to tease the liberal retards) then I believe that you may be more delusional than your radio nemesis, Messr. Whatley.

      • ShowerBench

        November 18, 2012 at 8:43 pm

        @Recyclerz I can’t stand Ayn Rand at least insofar as anyone takes her literally but the debate is now devolved to level of extremism.  Papa John took crap for having a big house.  Immediately the implication is that a job creator shouldn’t have a big house if employees have small houses, putting an end to any real debate about whether and how much he should be expected to contribute to employees’ health care costs and encouraging people to pick up torches and pitchforks at the sight of any evidence someone has more-than.  Even the fact that the debate centers on how much in health care costs employers should be REQUIRED to be responsible for when that begs the question of whether they should be expected much less required to be responsible for any at all means a huge area of the debate has been shut down.  Maybe a portion, even a majority of those defending Papa John owning a 26 bedroom house also believes that government has a legitimate role in providing health care, just not a legitimate role in forcing health care related mandates on business.

      • ShowerBench

        November 18, 2012 at 8:52 pm

        @Recyclerz And..you have to admit liberals are intolerant of any suggestion that there may be a tipping point at which entitlements become incentives for government dependency, that their growth and expansion threatens the larger economy, and that there are more able-bodied people relying on them now than there were when they were initiated to provide for the truly needy.  Bill Clinton used to be mildly criticized for discussing “welfare to work” and his big theme, “if you work you shouldn’t be poor.”  He was daring to suggest that you are expected to move into work if you are accepting welfare, and that maybe if you don’t work (and can) you SHOULD be poor.  That rhetoric is absent now, and it’s probably not a positive development.

      • ShowerBench

        November 18, 2012 at 8:55 pm

        @Recyclerz And..you have to admit liberals are intolerant of any suggestion that there may be a tipping point at which entitlements become incentives for government dependency, that their growth and expansion threatens the larger economy, and that there are more able-bodied people relying on them now than there were when they were initiated to provide for the truly needy.  Bill Clinton used to be mildly criticized for discussing “welfare to work” and his big theme, “if you work you shouldn’t be poor.”  He was daring to suggest that you are expected to move into work if you are accepting welfare, and that maybe if you don’t work (and can) you SHOULD be poor.  That rhetoric is absent now on the Democratic side, and it’s probably not a positive development.

      • Recyclerz

        November 18, 2012 at 9:55 pm

        @ShowerBench
         To your second reply I don’t have to admit that because as a liberal (although not the doctrinaire strawman that Fox News likes to battle) I completely agree that such a tipping point scenario exists – it’s just that I don’t think it is the existential crisis that you do.  Is there a stratum of society that works the social safety net functions so that they don’t have to work?  Sure, but I think it is a lot smaller than you do.  Are there people on SS disability who shouldn’t be?  Absolutely, and I think Obama should make every effort to work with the Republicans to straighten that system out pronto.But I think the existential crisis that we are facing is that the global economy is changing so rapidly through technological advancement and the global sourcing of labor (and all economic activity) that it has blown a huge hole in our social compact and the ship be sinking because no one at the controls is offering real solutions to the real problems that a lot of people in this country have lost jobs that are never coming back and that process is accelerating on a secular basis.  The solutions offered by the “Right” – kick the lazy bums in the ass, cut taxes for the rich and  government regulations – are egregiously cruel to the victims of this process for the former and ridiculously  misguided and ineffectual for the latter.  To be fair, I also think that the Keynesian solutions offered by Obama in his first term were necessary but don’t and won’t amount to much more than triage for our economy which was headed for a depression in 2008 and 2009.  The global economy is being played like 3D chess today – trying to relitigate decisions that were made in the 1960’s and 1930’s is playing that game with checkers level strategy.

      • ShowerBench

        November 19, 2012 at 12:36 pm

        @Recyclerz The only thing I would disagree with is that the absence of rhetoric around public assistance as a last resort not a way of life is a positive or compassionate development.  There are more than an insignificant few for whom it is accepted and practiced as a way of life, and more than an insignificant few disability frauds.  Nobody begrudges assistance for anyone who does everything they can to avoid becoming eligible but the trend of (multi-generational) dependence is a more important and consequential issue than stigma affecting people who don’t deserve it.

  27. fitzyMFNcent

    November 18, 2012 at 2:34 pm

    Mitt Romney must be proud of them

  28. Scott_Chandwater

    November 18, 2012 at 3:50 pm

    Stella D’oro, Hostess, whats next!? Entenmenns!?

  29. Antilokhos

    November 18, 2012 at 9:15 pm

    http://www.dailykos.com/blog/bluebarnstormer/
    Interesting read on the Union side of the story.  Obviously hard to source the article with that name, but figured it was worth sharing.

    • AnthonyLoman

      November 19, 2012 at 1:16 am

      @Antilokhos I agree with the union 100 percent after reading that whereas before I was only 99 percent on their side. The company stole from the worker’s pension funds and didn’t bother tell them. The union already had to agree to massive paycuts in 2005 and the workers had already given up like 40 percent of their salary (while the bosses kept giving themselves raises) In my opinion the only fair resolution to this crises is that the executives fork over all their money, property and possession  to their former employees and then are forced to commit hari kari in the manner of a japanese samurai.

  30. SkilledDayLabor

    November 18, 2012 at 10:59 pm

    Large companies protect their stockholders, and who are the major stockholders in all these large companies, why the board of directors who else. “Stockholders” is code for “fuck you, I’m getting mine”

  31. FanBoy1

    November 19, 2012 at 1:42 pm

    Good for them…… and when Unions try to hi jack more companies I hope they fold as well…… Next up the USPS.