No more Twinkies - Hostess out of business

[GenuineRisk]

Well, apparently while Hostess was failing, the CEOs were making sure they got theirs before 18,000 people lost their jobs:

BCTGM members are well aware that as the company was preparing to file for bankruptcy earlier this year, the then CEO of Hostess was awarded a 300 percent raise (from approximately $750,000 to $2,550,000) and at least nine other top executives of the company received massive pay raises. One such executive received a pay increase from $500,000 to $900,000 and another received one taking his salary from $375,000 to $656,256.

http://gawker.com/5961444/dont-worry...pany-collapsed

I love how the failure of businesses is always blamed on greedy unions (how dare they expect their employers keep their end of their contracts!) but it's just shrugged off when the guys at the top loot the company on the way out.