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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.


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 Frank says:

And all the rest of whom for which to whensoever of partially indeterminate bio-chemical degredation. Seek the path to the sudsy yellow nozzle of their foaming nocturnal parametric digital whole-wheat inter-faith geo-thermal terpsichorean ejectamenta. -- From board tape at Zappa concert, outdoors, at Blossom Music Center, Akron, Ohio, summer 1984. This quote was in the middle of a spoken section of "The Mud Club" in which a dude walks into the club with a blue Mohawk and proceeds to "work the floor, work the wall, work the monitor system. . . ." The band was having monitor feedback problems at the Blossom concert, and there are numerous references to P.A. equipment throughout this ramble. Other than that, the quote is meaningless, I guess. But great imagery!