Hostess executives' salaries jumped after initial bankruptcy

| Published: December 2, 2012 Comment on this article

It's tragic that 18,000 workers lost their jobs when Hostess finally ceased operations. However, it's important to realize that during the eight years following 2004, when the company first entered bankruptcy, its unions made generous concessions, lowering labor costs close to that of competitors. During this time, while asking for and getting these concessions, many Hostess executives doubled their salaries; CEO Brian Driscoll's salary tripled. Obviously, competence and loyalty on the part of management was completely lacking if the goal was to save the company.

NewsOK Related Articles

Laying blame for resentment on race
12/02/2012 I'm concerned about the attitudes shown by many of our citizens toward “gifts” such a free health care, free contraception for women, “amnesty” for...
Understanding role of school board members
12/02/2012 “School board positions more important than ever” (Our Views, Nov. 25) was spot on. Serious, thoughtful board members are needed more than ever before....
Prison has more perks than nursing homes
12/02/2012 Including parolees, one of every 31 U.S. adults is under the control of the U.S. justice system. Oklahoma incarcerates more than 25,000 people, the...

With this type of leadership, no amount of givebacks by workers could save the firm. Loyal workers are vital for business success, but that loyalty has to be earned. In that, Hostess failed miserably.

Victor Gorin, Oklahoma City

NewsOK does not enable comments in response to signed letters to the editor.
Readers wishing to respond to a letter to the editor can submit a response.

Ads by Yahoo!

Prostate Cancer Options
Learn Main Causes & Symptoms of Prostate Cancer + Latest Treatment News
www.montefiore.org

A Fruit That Burns Fat?
Celebrity Doctor Reveals Fat Blasting Fruit. Results Will Shock You...
PureRaspberryKetone.com