Hostess Has No Choice But to Liquidate, CEO Says
Nov. 16 (Bloomberg) -- Greg Rayburn, Hostess Brands CEO, talks about plans by the bankrupt maker of Wonder bread and Twinkies to fire more than 18,000 workers and liquidate after a strike crippled operations.
CEO of Hostess was awarded a 300 percent raise (from approximately $750,000 to $2,550,000) and at least nine other top executives of the company received massive pay raises. One such executive received a pay increase from $500,000 to $900,000 and another received one taking his salary from $375,000 to $656,256.
Get the full scoop on the Hostess fight between unions and hedge funds here...