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Greedy Restructuring Asshole
$125,000 a month. The acting CEO of Hostess Brands, the failed Twinkies-maker, will not take part in a company-wide pay cut. Though he imposed an 8 percent pay cut for all Hostess workers, Gregory Rayburn's monthly $125,000 pay -- or $1.5 million a year -- will remain unchanged, a company spokesman told The Huffington Post on Monday. Rayburn is not on the Hostess payroll and therefore isn't subject to the imposed pay cut, the spokesman explained. Hostess appointed Rayburn, founder and owner of Kobi Partners, a restructuring advisory firm, as acting CEO in March, two months after the company filed for bankruptcy a second time. Hostess' liquidation plan was approved last month, as were $1.8 million in bonuses for executives. Rayburn is "not eligible to receive any bonuses, success fees, or severance," according to the spokesman. The company's shutdown will cause about 18,000 people to lose their jobs. |
Greedy Restructuring Asshole
On 12/3/2012 4:07 PM, jps wrote:
Gregory Rayburn's monthly $125,000 pay -- or $1.5 million a year -- The company's shutdown will cause about 18,000 people to lose their jobs. 1.5 million divided by 18,000 equals 4 cents per hr. I don't think that's the problem! Mikek |
Greedy Restructuring Asshole
On Mon, 03 Dec 2012 17:51:14 -0600, amdx
wrote: On 12/3/2012 4:07 PM, jps wrote: Gregory Rayburn's monthly $125,000 pay -- or $1.5 million a year -- The company's shutdown will cause about 18,000 people to lose their jobs. 1.5 million divided by 18,000 equals 4 cents per hr. I don't think that's the problem! Mikek That's a sum total of 1 decision. How many hundreds of bad decisions have management made to get in this position? Hundreds. $2.5 billion in annual revenue but you can't figure out how to make a profit? The simple truth, the business is worth more in parts to the current owners than the profit from business operations. Don't blame the unions for not wanting to commit their people to poverty so owners can make enough. |
Greedy Restructuring Asshole
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Greedy Restructuring Asshole
On Dec 4, 7:28*am, BAR wrote:
In article , says... On Mon, 03 Dec 2012 17:51:14 -0600, amdx wrote: On 12/3/2012 4:07 PM, jps wrote: Gregory Rayburn's monthly $125,000 pay -- or $1.5 million a year -- The company's shutdown will cause about 18,000 people to lose their jobs. 1.5 million divided by 18,000 equals 4 cents per hr. I don't think that's the problem! * * * * * * * * * Mikek That's a sum total of 1 decision. *How many hundreds of bad decisions have management made to get in this position? *Hundreds. How often do you make bad decisions as the CEO of your company? What is your pay compared to your employees pay? $2.5 billion in annual revenue but you can't figure out how to make a profit? *The simple truth, the business is worth more in parts to the current owners than the profit from business operations. The operating performance of Hostess is horrible at $138,000. It should be somewhere up above $200,000 or more. Don't blame the unions for not wanting to commit their people to poverty so owners can make enough. Is your company unionized? Why? Unions didnt cause this....... |
Greedy Restructuring Asshole
On 12/3/2012 10:13 PM, jps wrote:
On Mon, 03 Dec 2012 17:51:14 -0600, amdx wrote: On 12/3/2012 4:07 PM, jps wrote: Gregory Rayburn's monthly $125,000 pay -- or $1.5 million a year -- The company's shutdown will cause about 18,000 people to lose their jobs. 1.5 million divided by 18,000 equals 4 cents per hr. I don't think that's the problem! Mikek That's a sum total of 1 decision. How many hundreds of bad decisions have management made to get in this position? Hundreds. $2.5 billion in annual revenue but you can't figure out how to make a profit? High gross revenue does not make a business profitable. The simple truth, the business is worth more in parts to the current owners than the profit from business operations. Ahh, the business is worth more in parts to the current owners than the profit from business operations? The logical thing is to break up the parts. If you have a benevolent feeling with your money, Invest in the infrastruction a business needs, hire people, and payout all profits. You might wonder what those employees will do when the economy turns down and you don't have the same profits and then you must cut there pay. Oh, I forgot you don't paying them with your money. Mikek Mikek |
Greedy Restructuring Asshole
jps wrote:
$125,000 a month. The acting CEO of Hostess Brands, the failed Twinkies-maker, will not take part in a company-wide pay cut. Though he imposed an 8 percent pay cut for all Hostess workers, Gregory Rayburn's monthly $125,000 pay -- or $1.5 million a year -- will remain unchanged, a company spokesman told The Huffington Post on Monday. Rayburn is not on the Hostess payroll and therefore isn't subject to the imposed pay cut, the spokesman explained. Hostess appointed Rayburn, founder and owner of Kobi Partners, a restructuring advisory firm, as acting CEO in March, two months after the company filed for bankruptcy a second time. Hostess' liquidation plan was approved last month, as were $1.8 million in bonuses for executives. Rayburn is "not eligible to receive any bonuses, success fees, or severance," according to the spokesman. The company's shutdown will cause about 18,000 people to lose their jobs. He was hired at that fee to restructure the company. So he earns the money. Hostess main problem was a very expensive distribution network. The drivers could not load a truck among other items of overhead. |
Greedy Restructuring Asshole
On Tue, 04 Dec 2012 13:14:17 -0600, Califbill
wrote: jps wrote: $125,000 a month. The acting CEO of Hostess Brands, the failed Twinkies-maker, will not take part in a company-wide pay cut. Though he imposed an 8 percent pay cut for all Hostess workers, Gregory Rayburn's monthly $125,000 pay -- or $1.5 million a year -- will remain unchanged, a company spokesman told The Huffington Post on Monday. Rayburn is not on the Hostess payroll and therefore isn't subject to the imposed pay cut, the spokesman explained. Hostess appointed Rayburn, founder and owner of Kobi Partners, a restructuring advisory firm, as acting CEO in March, two months after the company filed for bankruptcy a second time. Hostess' liquidation plan was approved last month, as were $1.8 million in bonuses for executives. Rayburn is "not eligible to receive any bonuses, success fees, or severance," according to the spokesman. The company's shutdown will cause about 18,000 people to lose their jobs. He was hired at that fee to restructure the company. So he earns the money. Hostess main problem was a very expensive distribution network. The drivers could not load a truck among other items of overhead. He's part of the vulture capital firm that took over. Not enough that these guys will reap large rewards for parting out a viable business (save for their stupid decisions), they need to take exhorbitant fees too. That's how Bain Capital made their money too. Scum. |
Greedy Restructuring Asshole
On Tue, 04 Dec 2012 12:06:15 -0600, amdx wrote:
On 12/3/2012 10:13 PM, jps wrote: On Mon, 03 Dec 2012 17:51:14 -0600, amdx wrote: On 12/3/2012 4:07 PM, jps wrote: Gregory Rayburn's monthly $125,000 pay -- or $1.5 million a year -- The company's shutdown will cause about 18,000 people to lose their jobs. 1.5 million divided by 18,000 equals 4 cents per hr. I don't think that's the problem! Mikek That's a sum total of 1 decision. How many hundreds of bad decisions have management made to get in this position? Hundreds. $2.5 billion in annual revenue but you can't figure out how to make a profit? High gross revenue does not make a business profitable. The simple truth, the business is worth more in parts to the current owners than the profit from business operations. Ahh, the business is worth more in parts to the current owners than the profit from business operations? The logical thing is to break up the parts. If you have a benevolent feeling with your money, Invest in the infrastruction a business needs, hire people, and payout all profits. You might wonder what those employees will do when the economy turns down and you don't have the same profits and then you must cut there pay. Oh, I forgot you don't paying them with your money. Mikek Mikek $2.5 billion in annual sales and you can't find a way to make it work? Baloney. |
Greedy Restructuring Asshole
On 12/4/2012 12:45 PM, *e#c wrote:
On Dec 4, 7:28 am, BAR wrote: In article , says... On Mon, 03 Dec 2012 17:51:14 -0600, amdx wrote: On 12/3/2012 4:07 PM, jps wrote: Gregory Rayburn's monthly $125,000 pay -- or $1.5 million a year -- The company's shutdown will cause about 18,000 people to lose their jobs. 1.5 million divided by 18,000 equals 4 cents per hr. I don't think that's the problem! Mikek That's a sum total of 1 decision. How many hundreds of bad decisions have management made to get in this position? Hundreds. How often do you make bad decisions as the CEO of your company? What is your pay compared to your employees pay? $2.5 billion in annual revenue but you can't figure out how to make a profit? The simple truth, the business is worth more in parts to the current owners than the profit from business operations. The operating performance of Hostess is horrible at $138,000. It should be somewhere up above $200,000 or more. Don't blame the unions for not wanting to commit their people to poverty so owners can make enough. Is your company unionized? Why? Unions didnt cause this....... You are right, the unions wanted to go along with it, it was the 3,000 greedy union "brothers" who ****ed the other 15,000 down the river.. Same way it happened at Finast, the top ten percent wage earners, **** the rest for a few more bucks... |
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