Monday, November 19, 2012
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.Yep, must have been greedy unions. I am not a business expert, but it looks like a lot of upper level mismanagement. It also looks like they knew things were getting bad and figured to get as much as they could before the company went belly up.