29 November 2012, gee after saying they didn’t have the money, and blaming unionized labor for the shut down of Hostess, suddenly they’ve got the bucks to pay bonuses to their incompetent executives!

Hostess officials are asking a bankruptcy judge to approve the paying out of $1.8 million USD in bonuses to their 19 executives.  Company officials say it’s necessary to keep the execs on board until they finish selling off their brands.

It’s starting to look like the running into the ground and eventual shut down of Hostess is really a Romneyesque vulture capitalist plan to chop up and sell the company off.  Hostess officials say there are more than 100 potential buyers chomping at the bit.

Hostess product sales were down, but last week a company official told the bankruptcy judge they still had $2.3 billion in sales last year!

So 18,500 people lost their jobs, and Hostess wants to pay $1.8 million in bonuses to 19 executives, that’s about $94,736 each (if my math is correct).  And those execs are still being paid big salaries as well; for example, CEO Gregory Rayburn has a monthly salary of $125,000!

I don’t think the Hostess shut down is about not having enough money.