Richard is correct. The current entitlement mentality of unions is driving
businesses overseas. It is the only way that businesses can survive.Where did this entitlement mentality come from? It came from the left-wing
government which preaches that a man is entitle to a home, a car, and good
wages--simply because he exists. Indeed, he is owed these things simply because
he takes up space, according to the leftists.The unions need to
recognize that wages don't just materialize out of thin air. Wages only
exist when someone works hard to create them. When artificially high wages are
forced out of a business, the wages must come out of central assets, thus
leaving nothing left for the business to function. Shame on the unions for
destroying business, and shame on them for destroying America!
Unions did not destroy this company. It was destroyed by poor management and a
flock of vulture capitalists and outfits similar to Bain Capital.The
workers are the losers. The vultures will walk away with million dollar plus
Golden Parachutes. One example being the CEO who just recently was handed a 300%
pay raise. Greg Rayburn was being paid $100,000 PER MONTH for his
"services."At least nine other top executives of the company
also received massive pay raises, including one who received a pay increase from
$500,000 to $900,000 and another received one that brought his salary from
$375,000 to $656,256.Where did this attitude of executive
entitlement come from? Perhaps from right-wing greed that preaches that anyone
who rises to the top of swamp is entitled to do at the expense of those who
actually do the sweating that makes success possible for the executives?(Anyone may verify this information by Googling "hostess ceo
JCS, how about paying attention to the actual facts?Hostess has been
losing money because demand for its products has declined. It has in the past
dealt with declining profitability by squeezing worker wages and benefits to
protect shareholder dividends.This most recent attempt to deal with
its financial problems, by once again squeezing its workers for the benefit of
shareholders, was more than the workers could bear. An 8% cut in
pay, and an even greater cut in benefits such as health insurance and
retirement, all to ensure shareholder dividends, rather than invest in the
company's future.If you worked there, would you be ok with
that?Now add to that pain the news that the company awarded its CEO
a 300 percent raise (from $750,000 to $2,550,000) and at least nine other top
Hostess executives received massive pay raises. One such executive received a
pay increase from $500,000 to $900,000 and another exec's salary went from
$375,000 to $656,256.And finally, Hostess is asking the bankruptcy
judge to approve year-end bonuses to 19 executives averaging $100,000 each.I'd go on strike, too.
John Charity Spring, will you please explain to us where the attitude of
entitlement for high paid executives comes from?I'd really like
to hear how you justify or rationalize that kind of greed.
JCS has it backwards. The current entitlement mentality of some company
executives is driving American prosperity downward. American businesses will
not long survive if they force their workers into poverty.Where did
this entitlement mentality come from? It came from a growing number of
right-wing greedheads who preach that a man is not entitled to a wage that can
allow him a home, a car, and a secure retirement - no matter how hard or long he
works. Indeed, if he works for a decent wage, he is subtracting from corporate
profits and executive pay packages according to the rightists.The
corporations need to recognize that their products don't just materialize
out of thin air. Products only exist when someone works hard to create them.
When artificially low wages are forced upon workers, their morale collapses,
thus leaving them with little recourse but to strike. Shame on the
corporations for destroying themselves, and shame on them for destroying
It's okay folks, now that Mitt Romney doesn't have to worry about his
political career, he can go back to doing what he "does best!" Creating
(domestic) jobs!Right?After all, he was the "job
creator!" Now, lets see him create jobs!
40 hour work week - UnionsOSHA - UnionsHealthcare - UnionsRetirement benefits - UnionsChild Labor Laws - UnionsBonded,
Certified, and Licensed workforce - UnionsFall of the Soviet Empire -
UnionsKnow what else is funny -- The only countries without
strong Unions and outlawed strikes -- was Nazi Germany & Communist
ChinaWhy don't we rid of the Unions and make companies start
putting up suicide nets?Conservatives are killing America while
supporting Totalitarian regimes!
2nd tryHostess' problems go way back. They've been in
bankruptcy since 2004.CNBC: After Bankruptcy Hostess'
"Sales Declined And Attempts To Roll-Out New Products More In Line With
Changing Consumer Tastes Flopped." CNBC reported that the first round of
bankruptcy "wasn't enough to save" Hostess, adding: "The
company's sales declined and attempts to roll-out new products more in line
with changing consumer tastes flopped." [CNBC, 11/16/12]Forbes:
Hostess Has Had Six CEOs In A Decade. When CEO Greg Rayburn took over Hostess in
March 2012, he became the sixth CEO of the company in a decade. [Forbes,
7/26/12]Wash. Post: January Bankruptcy Filing Shows Hostess
"Would Have Lost Money Without Any Pension Costs At All." The Washington
Post reported in January that Hostess "lost $250 million in the less than
three years since it emerged from its previous bankruptcy. That means it would
have lost money without any pension costs at all." The Post noted that
Hostess "lost money in 30 of the past 37 quarters." [The Washington
Post, 1/11/12]Turns out that Hostess has no treasury department. It
apparently doesn't have anyone who can perform treasury functions at all.
To The Real Maverick 9:02 a.m. Nov. 23, 2012It's okay folks,
now that Mitt Romney doesn't have to worry about his political career, he
can go back to doing what he "does best!" Creating (domestic) jobs!Right?After all, he was the "job creator!" Now, lets
see him create jobs!--------------------Ecellent irony.
Mitt just raked in obscene profits for himself and the other Bain executives in
the past, creating few, if any, jobs in the process while costing a lot of
people their jobs. I see nothing to indicate that he would do anything differet
in the future (and whining at the same time because he didn't get what he
felt himself entited to acquire -- being President). I'd love to see him
doing what he should, but somehow I don't see that happening.
More information: Some creditors question Hostess pay raises approved in late
July.Brian Driscoll, CEO, around $750,000 to $2,550,000.Gary
Wandschneider, EVP, $500,000 to $900,000.John Stewart, EVP, $400,000 to
$700,000.David Loeser, EVP, $375,000 to $656,256.Kent Magill, EVP,
$375,000 to $656,256.Richard Seban, EVP, $375,000 to $656,256.John
Akeson, SVP, $300,000 to $480,000.Steven Birgfeld, SVP, $240,000 to
$360,000.Martha Ross, SVP, $240,000 to $360,000.Rob Kissick, SVP,
$182,000 to $273,008.This is Bain capitalism at its worst........a
company using bankruptcy as a bargaining chip........it failed so they are
liquidating a profitable company.........But the worker on the
factory floor was expected to take a pay cut from an average of about $32,000 to
less than $25,000.
Mr Spring asks the question, "Where did this entitlement mentality come
from?"Well John, it has been around since "the year
one". Kings were entitled to the kingdoms of defeated kings. The pioneers
of Davis County were entitled to the lands of the earlier inhabitants. Pioneers
were totally committed to the concept of entitlement to the lands of the
Indians. Check your family history sir. You may have some entitlement
The Hostess shutdown will probably cause more deaths to Americans that the
Libyan thing.If only we could get congress to investigate and hold
meetings to determine exactly who is at fault.
@Furry1993:"After all, he (Mitt) was the 'job creator!' Now,
lets see him create jobs!"He gave that up years ago. Obama
claims the title now, according to his campaign. Let's see him do it. He
can even use taxpayer money... something Mitt didn't have at his disposal.
@LDS Liberal:"40 hour work week - Unions - etc."You
missed a big one, Liberal: Most American manufacturing jobs shipped overseas -
unions."Why don't we rid of the Unions and make companies
start putting up suicide nets?"Why don't we get rid of
unions and get our jobs back from overseas. The only unions that seem to be
able to survive are government employee unions... who suck up taxpayer money.
Here is what is funny with all the posters who are pro union....The
Teamster union went in to hostess and found that the information the company was
given them was accurate. They decided to some cuts of benifits and wages in
order to keep the teamster working....the bakers union did NOTHING!
all they want was the money and benfits...I do find it amusing that
the pro unions posters are bashing the management for raises, when the unions
are doing the same thing.....