Friday, April 6, 2012

Hostess Execs Pump Up Their Pay Prior To Bankruptcy Filing


By Doug Cunningham

The Teamsters union is expressing outrage over news that executives at Hostess Brands may have manipulated their pay, lining their pockets ahead of a bankruptcy filing while demanding workers’ pay be slashed. 

The Wall Street Journal reported that unsecured creditors want an investigation into executive pay that skyrocketed in an apparent effort to dodge the bankruptcy code’s compensation requirements. 

Ken Hall, general Secretary-Treasurer of the Teamsters, says that story “suggests that management broke the law, looted the company and then told workers to suck it up and sacrifice.”

Hostess Bands include such products as . 

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