On Nov 21, 2012, at 5:07 AM, Mugsy Lunsford wrote: > > On Nov 20, 2012, at 5:26 PM, Bruce Johnson wrote: > >> It's all those dastardly Union members fault that Hostess is going under, >> right? CEO got a 300% raise last year, and they're now begging the >> bankruptcy judge to let them dispense $1.75 million in bonuses to >> management. Bonuses, apparently, because the company is quite in >> liquidation, yet. >> >> <http://thinkprogress.org/economy/2012/11/19/1215811/hostess-executive-bonuses/> >> >> BTW, the end result of the wage concessions (32% wage cuts) that management >> was asking for would mean that employees with several years of experience >> would be getting about $12 an hour, just about $25k a year. > > Go try to find a place to rent that fits that budget. :( > > This disconnect seems insurmountable. How can these people justify their > behavior, are they just really insensitive, or do they sit around in closed > rooms joking about how to crush their own employees? Do they even understand > what happens if they don't have anyone making their products?
Bah, to the MBA mind like the hedge fund guys running a Bain on Hostess, it's all just bits in a spreadsheet, value to loot out of the company. They don't actually care, or know about "product" and "Employees" and "Customers" those are all just impediments to siphoning as much cash as they can into their own accounts. Load a company up with debt, suck it all out in "management fees" and toss the husk away for the next one. Hey it works, THEY are fabulously wealthy, and that's the only thing that matters. Literally. > I feel like the guillotines would be too kind. But doncha know they're the jaaahb creattuhs!* They deserve to be worshipped as the new gods upon Olympus, lest they shrug, go Galt and leave us in darkness. Seriously, some folks studying this class are starting to come to the worrisome conclusion that these folks really do believe their own bullshit, that the world simply could not continue without them and their steady guiding hands on the tiller of Business. They really do believe "they built that". Needs moar guillotines. At least the Astors and Carnegies and Rockefellers and Goulds had the grace to realize that they were no more than glorified thieves and pirates awash in plunder. Then they went on acting like glorified thieves and pirates, but at least they had that self-awareness. > > BTW, they don't need to worry, already found a buyer. ;) > > http://autoblopnik.com/2012/11/19/fiat-to-purchase-bankrupt-hostess-brands/ Hey, it's not like the likeliest of real-world purchasers, Bimbo, isn't a 12-year-old-level funny name itself... *For certain values of 'jaaahb'; as the old joke goes "Yep, this economy really is creating jobs, why, I know a bunch of people who have snapped up two or three of them." -- Bruce Johnson "Wherever you go, there you are" B. Banzai, PhD -- You received this message because you are subscribed to the Google Groups "StrataList-OT" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/stratalist-ot?hl=en.
