Hostess Executives Want to Give Themselves a $1.8 Million Bonus
In recent months, Hostess' corporate leaders have struggled valiantly to save the Twinkie. That they didn't succeed goes to show not that the company utterly failed to adapt to a changing market but that they simply couldn't overcome the mighty power of a union bent on destroying an American icon. (Or not).
It's only fitting, then, that those leaders should be rewarded for their tireless work, and that's exactly what Hostess hopes to do. In a filing in federal bankruptcy court, the company asked permission to provide $1.8 million in bonuses to 19 top-level executives.
It's just a teensy sliver of Hostess' revenue and, as Hostess spokesman Lance Ignon explained to the Los Angeles Times, those are talented, hard-working individuals who might seek other jobs if not given an incentive to stay.
And those people are vital to help wind the company down and deal with the 100-plus bidders vying for a piece of the company, unlike those 15,000 rank-and-file employees who were given the boot.
Update: The judge approved the bonuses.