{"id":12945,"date":"2012-11-18T20:24:42","date_gmt":"2012-11-19T01:24:42","guid":{"rendered":"http:\/\/ssgreenberg.name\/PoliticsBlog\/?p=12945"},"modified":"2012-11-18T20:44:29","modified_gmt":"2012-11-19T01:44:29","slug":"hostess-blames-union-for-bankruptcy-after-tripling-ceos-pay","status":"publish","type":"post","link":"https:\/\/ssgreenberg.name\/PoliticsBlog\/2012\/11\/18\/hostess-blames-union-for-bankruptcy-after-tripling-ceos-pay\/","title":{"rendered":"Hostess Blames Union for Bankruptcy after Tripling CEO\u2019s Pay"},"content":{"rendered":"<p><em>Nation Of Change<\/em> has the story <a title=\"The Nation of Change article\" href=\"http:\/\/www.nationofchange.org\/hostess-blames-union-bankruptcy-after-tripling-ceo-s-pay-1353255416\" target=\"_blank\"><strong>Hostess Blames Union for Bankruptcy after Tripling CEO\u2019s Pay<\/strong><\/a>.<\/p>\n<blockquote><p>But while headlines have been quick to blame unions for the downfall of the company there\u2019s actually more to the story: While the company was filing for bankruptcy, for the second time, earlier this year, it actually tripled its CEO\u2019s pay, and increased other executives\u2019 compensation by as much as 80 percent.<\/p>\n<p>At the time, creditors warned that the decision signaled an attempt to \u201c<a target=\"_blank\" href=\"http:\/\/online.wsj.com\/article\/SB10001424052702304072004577323993512506050.html\"><strong>sidestep<\/strong><\/a>\u201d bankruptcy rules, potentially as a means for trying to keep the executive at a failing company.<\/p><\/blockquote>\n<p>The vulture capitalists that took over Hostess must have been reading Mitt Romney&#8217;s how to book on being a vulture capitalist.\u00a0 He used a similar ploy for executives of a firm he took over in order to keep the money out of the hands of the FDIC.\u00a0 After admitting that they had been snookered, the FDIC had to agree to calling it even after accepting 30 cents on the dollar from Romney&#8217;s company for one of the banks the FDIC was rescuing.<\/p>\n<p>If you and I hid funds from the bankruptcy court, we would be in jail without passing go and without collecting $200.\u00a0 Even though corporations are people, it seems that you cannot put them in jail when they do the same thing other people do to get themselves jailed.<\/p>\n<p>Now that I have been defriended on Facebook by my own relatives, I guess it was time to get off Israel&#8217;s case and bust somebody else&#8217;s myths.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Nation Of Change has the story Hostess Blames Union for Bankruptcy after Tripling CEO\u2019s Pay. But while headlines have been quick to blame unions for the downfall of the company there\u2019s actually more to the story: While the company was filing for bankruptcy, for the second time, earlier this year, it actually tripled its CEO\u2019s [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[166],"tags":[],"class_list":{"0":"post-12945","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-stevegsposts","7":"czr-hentry"},"_links":{"self":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts\/12945","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/comments?post=12945"}],"version-history":[{"count":4,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts\/12945\/revisions"}],"predecessor-version":[{"id":12948,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/posts\/12945\/revisions\/12948"}],"wp:attachment":[{"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/media?parent=12945"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/categories?post=12945"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ssgreenberg.name\/PoliticsBlog\/wp-json\/wp\/v2\/tags?post=12945"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}