Pages

Jump to bottom

17 comments

1 HappyWarrior  Thu, Dec 13, 2012 11:41:34am

Fucking dick.

2 nines09  Thu, Dec 13, 2012 12:52:36pm

Ethics? What are they? You can almost hear the conversations that go on in "quiet rooms" these days. "Is it legal?" We'll, barely. " Is it ethical?" Hell no. "Fuck 'em." CEO 101. Tell me once again how they need tax cuts and no regulations. Fucking leeches. But I could go to jail for stealing a pack of cigarettes. When is enough, enough?

3 Holidays are Family Fun Time  Thu, Dec 13, 2012 1:07:55pm

It seems to be about doing what they want, when they want, why they want. Because they are the undiagnosed, but non-violent type, its ok.

*spit*

4 Destro  Thu, Dec 13, 2012 1:45:22pm

Poor salaried workers are clearly going to hell because they are poor and the rich execs are heaven's select because they are rich per Calvinist doctrine so why not exploit the already predestined damned?

5 EPR-radar  Thu, Dec 13, 2012 2:46:01pm

More blatant executive theft than usual.

For some time now, I've thought the Conrad Black case was amazing. Black managed to find a way to loot his company in a way that is illegal in the US. That takes real talent.

6 Buck  Thu, Dec 13, 2012 4:03:04pm

"essentially" admitted

and

"isn’t technically illegal"

I would add that using a pension fund as a personal bank account was invented by the Unions.

It doesn't sound like it was emptied. It doesn't even sound like the employee contributions were touched.

Anyway the only people who draw from it are former employees who have already retired.

We don't know if they will be able to continue to draw from it, or maybe it will be paid out to them.

7 Joanne  Thu, Dec 13, 2012 4:12:14pm

re: #6 Buck

IOW, Fuck a bunch of union thugs, eh? Because that's what I am hearing you say.

8 Buck  Thu, Dec 13, 2012 4:18:59pm

re: #7 Joanne

Then you are not listening. Not what I said at all.

9 EPR-radar  Thu, Dec 13, 2012 4:44:16pm

re: #6 Buck

Well, for a CEO to go to jail for looting a company in the US, it seems necessary for the CEO to put his plans in writing in triplicate: one copy for the local district attorney, one copy for the nearest major newspaper, and one copy for the most significant business rival.

The plan also needs to be blatant --- something like "I will personally steal everything that isn't nailed down, and bring a crowbar for the rest. What are you all going to do about it?".

So, "not technically" illegal in the original article is really a meaningless distinction.

10 Dark_Falcon  Thu, Dec 13, 2012 6:03:03pm

re: #6 Buck

I don't care what sort of people did it first, its still wrong.

11 cinesimon  Thu, Dec 13, 2012 6:22:59pm

re: #6 Buck

Buck, I'll let you in on a little something that you seem not to have grasped: Your dishonesty, false equivalences, inability to think critically - not to mention your seeming inability to grasp basic facts presented rather clearly - simply confirms once again that the now widespread stereotype of republicans as dishonest, brainless, childish fundamentalists who have no interest in engaging with society - is correct.

12 cinesimon  Thu, Dec 13, 2012 6:28:06pm

Ya gotta love the right wing standing up for this crook, by saying that 'hey! Hoffa did it too!'
For fuck's sake - Hoffa was a crook. He was assassinated. Many of his contemporaries were jailed, and rightly so. Yet his equivalent in the modern day is not jailed, but celebrated by a very small, incredibly very vocal group of increasingly unpatriotic Americans. People who in my opinion, would enjoy life much more if they were to move to Russia, where the elites there share republican values to a tee.

13 ProMayaLiberal  Thu, Dec 13, 2012 7:23:15pm

re: #10 Dark_Falcon

Speaking of which, how is this BS not illegal?

14 EPR-radar  Thu, Dec 13, 2012 7:26:53pm

re: #13 ProGunLiberal

Speaking of which, how is this BS not illegal?

The CEOs and their cronies/wannabes write the laws. As I said upthread, it takes real talent for a CEO in the US to find an illegal way to loot a company.

15 Kdizzle  Thu, Dec 13, 2012 9:27:15pm

re: #6 Buck

FFFFFFFUUUUUUCCCCCKKKKK YYYYYOOOOOUUUU.

16 Kdizzle  Thu, Dec 13, 2012 9:29:11pm

re: #12 cinesimon

He isn't Republican as far as I can tell. He's a Canadian who wants Canada to be more plutocratic.

There is a philo-Americanism thing going on.

17 RadicalModerate  Thu, Dec 13, 2012 10:46:38pm

re: #6 Buck

"essentially" admitted

and

"isn’t technically illegal"

I would add that using a pension fund as a personal bank account was invented by the Unions.

It doesn't sound like it was emptied. It doesn't even sound like the employee contributions were touched.

According to the WSJ article, that's EXACTLY what Hostess did with the pension plan. The "essentially" and "technically" parts were probably put in at the request of the legal department to cover for any possible inaccuracies.

The pension contributions were stopped in mid-2011, which means Hostess kept money designated for employee pension benefits for itself - and never repaid the money that accumulated over the course of a year that they owed to it. The ONLY reason that it wasn't against the law is because Hostess management took the money from a deferred pension plan versus taking it directly from the employees.

Here's the WSJ article paged at Yahoo, if you can't get past the paywall.

[Link: finance.yahoo.com...]

Hostess Brands Inc. said it used wages that were supposed to help fund employee pensions for the company's operations as it sank toward bankruptcy.

It isn't clear how many of the Irving, Texas, company's workers were affected by the move or how much money never wound up in their pension plans as promised.

After the company said in August 2011 that it would stop making pension contributions, the foregone wages weren't put toward the pension. Nor were they restored.
[...]
The maneuver probably doesn't violate federal law because the money Hostess failed to put into the pension didn't come directly from employees, experts said.

"It's what lawyers call betrayal without remedy," said James P. Baker, a partner at Baker & McKenzie LLP who specializes in employee benefits and isn't involved in the Hostess case. "It's sad, but that stuff does happen, unfortunately."


This page has been archived.
Comments are closed.

Jump to top

Help support Little Green Footballs!

Subscribe now for ad-free access!

Contact Us 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: 2015-08-02 10:58 am PDT

LGF User's Guide RSS Feeds
Recent Pages
VickieHaz
How you can Change your Lifestyle for the Greener
In the western world, we hear a lot about how our lifestyles can have quite a negative impact on the environment. We live in a time dominated by technologies and conveniences which as useful as they are, aren't the most ...

4 hours ago
Views: 91 • Comments: 0
Tweets: 2 • Rating: 1
CriticalDragon1177
Epic Twitter Pwnage 2! Creationists Try to Take Down Evolution, Fail Miserably!
Its been a long time since I engaged in some epic twitter pwnage! The first and so far only other time I did, and wrote about it, was a long time ago, when Viciousbabushka and I took on some climate ...

12 hours, 46 minutes ago
Views: 266 • Comments: 0
Tweets: 0 • Rating: 3
Thanos
Accelerated Pace of Kansas City Public Library’s Book-Culling Process Upsets Volunteers
It's like "Rainbow's End". Sylvia Stucky, a longtime member of Friends of the Kansas City Public Library, stood in the lobby of the Central Library downtown one day last week and opened her shoulder bag. "I just saved these from ...

14 hours, 15 minutes ago
Views: 199 • Comments: 1
Tweets: 1 • Rating: 1
Great White Snark
Jewelry Industry Shrinkage Trend Continues
This news looks awful as if the economy including the spending habits of the 1% and 1/10th% are steeply trending down. By implication, this flies in the face of the improving economy as described elsewhere. Well that hasty conclusion would ...

23 hours, 7 minutes ago
Views: 218 • Comments: 0
Tweets: 0 • Rating: 0
I Stand With Planned Parenthood
Jimmy Carter: America Is Not a Democracy Anymore (AUDIO)
Former President Jimmy Carter called the United States an "oligarchy" with "unlimited political bribery," on a radio program this week. More: Jimmy Carter: America Is Not a Democracy Anymore (AUDIO)

1 day, 3 hours ago
Views: 242 • Comments: 0
Tweets: 0 • Rating: 1
Cheechako
Iditarod Champ Dallas Seavey Adds Dog Treadmill to Training Repertoire
Suzanna CaldwellAlaska Dispatch NewsAugust 1, 2015 WILLOW -- Forget the gentle swoosh of sled runners over snow. Iditarod champion Dallas Seavey's summer training offers a stark contrast to his winter routine: more than a dozen dogs yapping manically in a ...

2 days, 13 hours ago
Views: 611 • Comments: 1
Tweets: 11 • Rating: 1
Eclectic Cyborg
MS GOP rep campaigns on pro Confederate Flag platform
So this showed up at my house today, it's an election mailer from one Jeffrey Guice who is running for re-election to the Mississippi State Senate. As you can see, it included an interesting detail... So basically he's taking pride ...

4 days, 16 hours ago
Views: 749 • Comments: 2
Tweets: 56 • Rating: 3
EiMitch
Cracked: 5 Sworn Enemies Who Formed Inspiring Friendships
I was catching-up with Cracked articles. I found an obvious click-bait article, "4 Sexual Preferences That Only Recently Became Taboo": cracked.com Knowing that, I read it anyway. From there, I read a depressing article, "5 Ways College Screws Over Poor ...

4 days, 21 hours ago
Views: 574 • Comments: 1
Tweets: 0 • Rating: 3
Skip Intro
Windows 10 is out. Help a guy out, please.
So I downloaded the Win 10 ISO image today, and started the install. The first thing I come across is a screen asking what I want to keep, my apps, data, and program settings, my data and program settings, or ...

6 days ago
Views: 845 • Comments: 8
Tweets: 0 • Rating: 0
Iwouldprefernotto
More Edited PP Videos
NYT -- More Edited PP Videos in the Pipeline The activist behind the videos, David Daleiden, has said he has enough covertly recorded footage for perhaps a dozen videos that he could release, one a week, for the next few ...

1 week, 1 day ago
Views: 497 • Comments: 0
Tweets: 0 • Rating: 2
 Frank says:

Music is the most physically inspiring of all the arts. -- Said as he gave the keynote address at the American Society of University Composers in Columbus Ohio in 1985.