7
   

Salaries of the union bosses who killed Hostess

 
 
Reply Sun 18 Nov, 2012 07:55 am
http://www.unionfacts.com/union/Bakery%2C_Confectionary%2C_Tobacco_Workers_%26_Grain_Millers#leaders

Officers and Employees■Average Total Compensation: $94,797.07
■Total Employees: 58
■Employees Making more than $75,000: 31


Top Ten Highest Paid Leaders
Name Title Total Compensation
FRANK HURT PRESIDENT $262,654.00
DAVID DURKEE SECRETARY-TREASURER $244,396.00
JOSEPH THIBODEAU EXEC VICE PRESIDENT $218,989.00
STEVE BERTELLI VICE PRESIDENT $198,062.00
MICHAEL KONESKO VICE PRESIDENT $184,297.00
ARTHUR MONTMINY VICE PRESIDENT $175,505.00
ANTHONY JOHNSON VICE PRESIDENT $167,433.00
ROBERT OAKLEY VICE PRESIDENT $167,265.00
RANDY ROARK VICE PRESIDENT $166,849.00
SEAN KELLY VICE PRESIDENT $161,789.00
» See All Employees' Compensation and Salary History
 
djjd62
 
  4  
Reply Sun 18 Nov, 2012 08:06 am
@gungasnake,
http://gawker.com/5961444/dont-worry-hostess-top-executives-still-got-richer-as-company-collapsed

Quote:
Hostess executives gave themselves raises up to 300 percent even as they were preparing to file for bankruptcy.

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.


perhaps if the company execs had taken 8% wage decreases the company would still be around, i mean bankrupting a company gets you a 300% wage increase, ain't capitalism grand


gungasnake
 
  -3  
Reply Sun 18 Nov, 2012 10:14 am
@djjd62,
Management didn't just kill Hostess...
RABEL222
 
  3  
Reply Sun 18 Nov, 2012 11:45 am
@gungasnake,
Only union salaries count, right nut bar.
0 Replies
 
contrex
 
  2  
Reply Sun 18 Nov, 2012 12:56 pm
I see the "Union facts" website can't spell "confectionery".
0 Replies
 
MontereyJack
 
  4  
Reply Sun 18 Nov, 2012 01:03 pm
I see you're still engaging in strident class warfare, eh, gunga?
0 Replies
 
Setanta
 
  3  
Reply Sun 18 Nov, 2012 03:11 pm
As Hostess is nor responsible for paying the union's management employees, this thread is typical Gunga Dim meaningless bullshit.
failures art
 
  3  
Reply Mon 19 Nov, 2012 06:20 am
Only in America: A murder-suicide will result in a public outcry of condemnation of the victim attempting to defend themselves and flowers sent to the gunman.

A
R
Twinkies
0 Replies
 
maxdancona
 
  2  
Reply Mon 19 Nov, 2012 07:16 am
@gungasnake,
Just for comparison...

Does anyone have a list of the salaries of the CEO and top management of Hostess?
djjd62
 
  2  
Reply Mon 19 Nov, 2012 07:31 am
@maxdancona,
see the link in my post
0 Replies
 
parados
 
  2  
Reply Mon 19 Nov, 2012 07:36 am
@maxdancona,
This is from the last court filing to liquidate.
Quote:
In seeking court permission Hostess said it wants to pay as much as $1.75 million in incentive bonuses to 19 senior managers during the liquidation.



From earlier..
Quote:
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.
0 Replies
 
parados
 
  2  
Reply Mon 19 Nov, 2012 07:39 am
Don't you just love a management that gives themselves a 300% pay increase and then want the employees to take an 8% pay cut? They deserve to go out of business. Now if only the law allowed for a clawback from those executives to pay back investors.
0 Replies
 
ehBeth
 
  1  
Reply Mon 19 Nov, 2012 07:44 am
@Setanta,
gunga skipped ALL of the classes in economics 101
0 Replies
 
H2O MAN
 
  -3  
Reply Mon 19 Nov, 2012 09:20 am
@gungasnake,



No matter how the left attempts to spin this, they can't
deny that it is the bakers union (BCTGM) that killed Hostess

http://www.gannett-cdn.com/media/USATODAY/USATODAY/2012/11/19/ap-hostess-end-of-the-road-4_3_r560.jpg?f061b7ce9937c38b702e6f308816ac2a14e2a4ec
Setanta
 
  2  
Reply Mon 19 Nov, 2012 09:24 am
@H2O MAN,
Sure, anyone can deny that. In 2004, Hostess was owned by Interstate Bakeries, which filed for bankruptcy. In response, the union (who are less than 40% of the employees) made wage and benefit concessions in exchange for equity. Now they've lost everything, because they didn't get the wages and benefits they conceded, and their equity isn't worth squat now--but the CEO and nine other executives got millions of dollars in raises and bonuses.

You failed every one of your math courses, huh?
MontereyJack
 
  2  
Reply Mon 19 Nov, 2012 09:30 am
H2O says:
Quote:
No matter how the left attempts to spin this, they can't
deny that it is the bakers union (BCTGM) that killed Hostess



Oh, I think we can. Don't even need to spin it, just give it the truth:

Quote:
The following statement was issued by BCTGM International Union President Frank Hurt in response to claims by Hostess Brands that it would begin liquidation should union members not end the strike and return immediately to production facilities:

“The crisis facing Hostess Brands is the result of nearly a decade of financial and operational mismanagement that resulted in two bankruptcies, mountains of debt, declining sales and lost market share. The Wall Street investors who took over the company after the last bankruptcy attempted to resolve the mess by attacking the company’s most valuable asset – its workers.
“They sought to force the workers, who had already taken significant wage and benefit cuts, to absorb even greater cuts including the loss of their pension contributions. I have said consistently throughout this process that the BCTGM is a highly democratic organization and that our Hostess members themselves would determine their future. By an overwhelming majority, 92 percent, these workers rejected the company’s outrageous proposal, fully aware of the potential consequences.

Our members know that the plans all along of the Wall Street investors currently in control of this company did not include the operation of Hostess Brands any longer than it takes to sell the company in whole – or in part – in a way that will maximize the profits of these vulture capitalists regardless of the impact on the workforce.
“The wholesale bread and cake baking business is unique. The most successful and profitable wholesale baking companies share common attributes, most notably being executive leadership with extensive background in the business and a skilled and dedicated workforce. Hostess Brands and its predecessor companies have had the latter for decades.

“Unfortunately however, for the past eight years management of the company has been in the hands of Wall Street investors, “restructuring experts”, third-tier managers from other non-baking food companies and currently a “liquidation specialist”. Six CEO’s in eight years, none of whom with any bread and cake baking industry experience, was the prescription for failure.

“Despite Greg Rayburn’s insulting and disingenuous statements of the last several months, the truth is that Hostess workers and their Union have absolutely no responsibility for the failure of this company. That responsibility rests squarely on the shoulders of the company’s decision makers.

“I am sure that our members would be agreeable to return to work as soon as the company rescinds the implementation of the horrendous wage and benefit reductions, including pension, and the restoration of the cuts that have already taken place.”

Background
A total of 24 Hostess production facilities are on strike or honoring the strike with picket lines established by striking Hostess workers at other BCTGM-represented facilities. Additionally, BCTGM members at one transport facility also are on strike. Company claims that union members are crossing picket lines and maintaining production at striking plants are vastly untrue.

Over the past 15 months, Hostess workers have seen the company unilaterally end contractually-obligated payments to their pension plan. These workers, many of whom have worked at Hostess and its predecessor companies for decades, struck in response to the company’s unilateral imposition of an unacceptable contract that was rejected by 92 percent of the union’s Hostess members in September.

While the company was demanding major concessions from union workers (wage and benefit cuts amounting to 27- 32% overall), the top ten executives of the company rewarded themselves with compensation increases, with one executive receiving a 300 percent increase.The BCTGM represents more than 80,000 workers in the baking, food processing, grain milling and tobacco industries in the United States and Canada

emphasis added
0 Replies
 
MontereyJack
 
  2  
Reply Mon 19 Nov, 2012 09:41 am
Management mismanaged the company. They screwed up the last bankruptcy recovery. Like the bloated, out of touch top management at GM, they lost market share because they failed to adapt to changing market conditions, like the growing shift from artificial junk food snacks to healther alternatives. And the new owners who'd come in just were planning to do a Romney on the company, sell it, make huge profits for themselves, and screw the workers. It appears more and more fortunate that the country recently rejected the pioneer in vulture capitalism, Now we've got to go to work on rejecting the people who learned from him.
0 Replies
 
MontereyJack
 
  2  
Reply Mon 19 Nov, 2012 10:21 am
Why, when management says a company is in trouble, is it always employee givebacks that you hear about. It's never management givebacks. Instead it's management gimmes.
H2O MAN
 
  -3  
Reply Mon 19 Nov, 2012 01:19 pm
http://25.media.tumblr.com/tumblr_m2l7esgfMr1qmr448o1_r2_500.jpg
0 Replies
 
roger
 
  2  
Reply Mon 19 Nov, 2012 01:25 pm
@MontereyJack,
Mabeso, but when the company says there isn't going to be a layoff, it is really time to start updating the old resume.
0 Replies
 
 

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