Pages

3 comments

Jump to bottom
1 sauceruney  Fri, Nov 23, 2012 7:46:26am

the ruling class never accepts blame, even when walked off in shackles to their country-club prisons

2 Lidane  Fri, Nov 23, 2012 8:35:08am
Hostess’s failure was compounded by having six CEO’s in 8 years who had no experience in the bread or cake baking industry

No, their failure was CAUSED BY having six CEO's in 8 years with no experience in the bread or cake baking industry.

Upper management and CEO's in particular set the tone and direction for the rest of the company. Their vision is what helps to drive the decisions that are made and the way that a company navigates the waters. Hostess was a multi-billion dollar a year juggernaut in sales, but with that kind of chaos at the very top, a lot of shitty decisions were going to be made.

I don't buy for a second that it was the union workers to blame for any of this. You don't go through that many CEO's in that short of a time without there being some serious incompetence and mismanagement at the top.

3 KingKenrod  Sat, Nov 24, 2012 7:17:36pm
Hostess’s failure was compounded by having six CEO’s in 8 years who had no experience in the bread or cake baking industry, and despite their financial woes, the company’s CEO got a 300% salary increase from $750,000 to $2,250,000, and other top executives received raises worth hundreds-of-thousands of dollars; all while the company was struggling.

Isn't that kind of a contradiction - you want a talented CEO with baking industry experience to lead your company out of bankruptcy, but only want to pay him/her $750,000 to start?

If Driscoll had been able to turn Hostess around, he would have easily been worth $2.25 million - the average compensation for a CEO in 2011 was $9.4 million. You're simply not going to be able to hire an experienced CEO talented enough to do this incredibly difficult job for $750,000. BTW after Driscoll left Hostess he was hired by Diamond Foods and (with incentives) he will be making a whole lot more than $2.25 million.


This page has been archived.
Comments are closed.

^ back to top ^

TwitterFacebook

Turn off all ads for a full year by subscribing!
For about 33 cents a day (per month) or 22 cents a day (per year), our subscription option turns off all advertisements at LGF!
Read more...

► LGF Headlines

  • Loading...

► Tweeted Articles

  • Loading...

► Tweeted Pages

  • Loading...

► Top 10 Comments

  • Loading...

► Bottom Comments

  • Loading...

► Recent Comments

  • Loading...

► Tools/Info

► Tag Cloud

► Contact

You must have Javascript enabled to use the contact form.
Your email:

Subject:

Message:


Messages may be published unless you request otherwise.
Tech Note:
Using the Contact Form
LGF Pages

This button leads to the main index of LGF Pages, our user-submitted articles. You can post your own LGF Pages simply by registering a free account with us.

Create a Page

This is the LGF Pages posting bookmarklet. To use it, drag this button to your browser's bookmark bar, and title it 'LGF Pages' (or whatever you like). Then browse to a site you want to post, select some text on the page to use for a quote, click the bookmarklet, and the Pages posting window will appear with the title, text, and any embedded video or audio files already filled in, ready to go.

Or... you can just click this button to open the Pages posting window right away.

Last updated: 2014-03-07 2:19 pm PST

LGF User's Guide
Recent Pages
Randall Gross
Rulings on Health Law Are Far From Last Word
An appellate court ruling issued Tuesday would be very bad news for the Affordable Care Act if it became the law of the land. But it's still a long way from a settled issue, as a second appellate decision, ...

6 hours, 21 minutes ago
Views: 163 • Comments: 1
Tweets: 5 • Rating: 1
FemNaziBitch
Members of Congress Take ‘Minimum Wage Challenge’ to Live Off Reduced Budget for a Week
Since he began his minimum wage challenge on Sunday, former Ohio Governor Ted Strickland, now president of the Center for American Progress Action Fund, has had eggs and toast, a bowl of cereal with a peanut butter and jelly ...

8 hours, 52 minutes ago
Views: 133 • Comments: 2
Tweets: 1 • Rating: 0
Mentis Fugit
Frisson
Over at the quirky Riddled blog, I encountered this music video link. I have the album, but I had last listened long ago, and I had forgotten the lyrics. The lengthy, moody intro slowly drew me back thirty five years, ...

20 hours, 15 minutes ago
Views: 83 • Comments: 0
Tweets: 0 • Rating: 0
BadExampleMan
The painful futility of war
This makes me furious. These men pledged their loyalty to their country and their country betrayed them. It treated them as disposable, throwing their lives away in a war that was premised on lies, that was chosen gleefully, and that ...

2 days, 13 hours ago
Views: 261 • Comments: 0
Tweets: 1 • Rating: 0
MichaelJ
Mick Fanning Wins J-Bay Open 2014
More: MICK FANNING WINS J-BAY OPEN Finals day for the contest was run in perfect Supertubes conditions. Too bad Kelly Slater and Jordy Smith were eliminated in lesser quality surf - it would have been amazing to have both of ...

2 days, 22 hours ago
Views: 206 • Comments: 0
Tweets: 0 • Rating: 1
Rightwingconspirator
ISIS Threatens Iraqi Christians in Mosul
Baghdad, Iraq (CNN) -- Extremists occupying large swaths of Iraq and Syria have issued a threat to Iraqi Christians in the city of Mosul: accept Islam, pay extra taxes to Islamic Sharia courts or face "death by the sword." ...

4 days, 23 hours ago
Views: 618 • Comments: 9
Tweets: 18 • Rating: 3
Thrazidun
Paris: Jews Fight Back Against Islamist Mob - Jewish World - News - Arutz Sheva
More: Paris: Jews Fight Back Against Islamist Mob - Jewish World - News - Arutz Sheva

5 days, 6 hours ago
Views: 692 • Comments: 5
Tweets: 0 • Rating: 1
GlutenFreeJesus
Gotta love Chicago
Admittedly, I only started following these guys in the past year or two. They have been in the Chicago scene for awhile. And I kick myself after every show for not following them sooner. For any fans of Led Zeppelin, ...

5 days, 6 hours ago
Views: 314 • Comments: 0
Tweets: 0 • Rating: 2
wheat-dogghazi
Rachel Aviv: A Middle-School Cheating Scandal Raises Questions About No Child Left Behind
Writing for The New Yorker, Rachel Aviv profiles some of the teachers and principals caught up in Atlanta's standardized cheating scandal. Focusing on Parks Middle School, which is located in a "rough" section of the city, her article portrays a ...

5 days, 15 hours ago
Views: 480 • Comments: 2
Tweets: 8 • Rating: 2
Feline Fearless Leader
More Floral Fireworks
Another montage of macro photos - focusing this time on flower close-ups. Taken using the standard lens on a Nikon 3200 using the a macro auto-setting. My observation for taking these is that a breeze can be quite annoying. :) ...

6 days, 18 hours ago
Views: 344 • Comments: 5
Tweets: 0 • Rating: 6
 Frank says:

We'll get back to the wimp, and his low-budget conception of personal freedom, in just a moment -- Thing-Fish.