[Chugalug] TWINKIES!!!

Chad Smith chad78 at gmail.com
Wed Nov 28 04:57:23 UTC 2012


That is a question of contract law.

If the contract was written in such a way that the execs were guaranteed a
bonus, then they are guaranteed a bonus.  It doesn't matter how well or how
poorly the company was run.  If bonuses were performance based, then you
would have a point.  But if the contracts merely stated that they were to
get an annual bonus of X amount or Y percentage of some metric or whatever,
then they are legally owed that money.  Morally?  That's a different
question - but contractually and legally - they are owed that money.

Might not be "right" or fair - but it's the law.

*- Chad W. Smith*



On Tue, Nov 27, 2012 at 8:09 PM, Rod-Lists <rod-lists at epbfi.com> wrote:

>
> I've been off the net and been in a news blackout so I haven't had time to
> dig.
> But it seems to me that if a company is in bankruptcy by definition it has
> been badly run.
> So why are executives getting a bonus?
> I found this article on huffpo on the labor column.
>
> http://www.huffingtonpost.com/david-macaray/labor-union-hostess-twinkies_b_2161368.html
> ----- Original Message -----
> >
> > It is my understanding that the union actually did not have a
> > contract, that is what they were striking about - they did not like
> > (and therefore did not sign) the contracts they were being offered.
> >
> > - Chad W. Smith
> >
> >
> >
> >
> > On Fri, Nov 23, 2012 at 8:51 AM, Rod-Lists < rod-lists at epbfi.com >
> > wrote:
> >
> >
> > stephen is right. As to lynns point, I would reply that the union
> > also has a contract.
> > The question is which contracts should be honored in bankruptcy.
> >
> >
> >
> > ----- Original Message -----
> > >
> > >
> > >
> > > The CEO received a 300% raise shortly before filing for bankruptcy
> > > On Nov 21, 2012 12:42 PM, "Lynn Dixon" < boodaddy at gmail.com >
> > > wrote:
> > >
> > >
> > > Rod,
> > > in all fairness, that 1.75 million is probably contracted salaries
> > > bonuses. Salaries are always higher priorities in the payouts
> > > during
> > > bankruptcy filings. As much as it sucks, legally the C level execs
> > > have fair claim on those salaries bonuses since they were
> > > contracted
> > > before the bankruptcy filings began.
> > >
> > >
> > >
> > > On Wed, Nov 21, 2012 at 12:15 PM, Rod-Lists < rod-lists at epbfi.com >
> > > wrote:
> > >
> > >
> > > If they know hostess wants to pay $1.75 Million in bonuses to the
> > > execs as they file for bankruptcy, they might.
> > >
> > > ----- Original Message -----
> > > >
> > > > Does this mean those union guys who sit across from the county
> > > > courthouse will change their sign to read: Shame on Ding Dong
> > > >
> > > >
> > > > ------------------------------
> > > > On Sat, Nov 17, 2012 12:39 AM EST Chad Smith wrote:
> > > >
> > > > >That is all.
> > > > >
> > > > >*- Chad W. Smith*
> > > >
> > > > _______________________________________________
> > > > Chugalug mailing list
> > > > Chugalug at chugalug.org
> > > > http://chugalug.org/cgi-bin/mailman/listinfo/chugalug
> > > >
> > > _______________________________________________
> > > Chugalug mailing list
> > > Chugalug at chugalug.org
> > > http://chugalug.org/cgi-bin/mailman/listinfo/chugalug
> > >
> > >
> > > _______________________________________________
> > > Chugalug mailing list
> > > Chugalug at chugalug.org
> > > http://chugalug.org/cgi-bin/mailman/listinfo/chugalug
> > >
> > >
> > > _______________________________________________
> > > Chugalug mailing list
> > > Chugalug at chugalug.org
> > > http://chugalug.org/cgi-bin/mailman/listinfo/chugalug
> > >
> > _______________________________________________
> > Chugalug mailing list
> > Chugalug at chugalug.org
> > http://chugalug.org/cgi-bin/mailman/listinfo/chugalug
> >
> >
> > _______________________________________________
> > Chugalug mailing list
> > Chugalug at chugalug.org
> > http://chugalug.org/cgi-bin/mailman/listinfo/chugalug
> >
> _______________________________________________
> Chugalug mailing list
> Chugalug at chugalug.org
> http://chugalug.org/cgi-bin/mailman/listinfo/chugalug
>
-------------- next part --------------
An HTML attachment was scrubbed...
URL: <http://chugalug.org/pipermail/chugalug/attachments/20121127/9381f69b/attachment.html>


More information about the Chugalug mailing list