No more Twinkies - Hostess out of business

[Rupert Pupkin]

Originally Posted by GenuineRisk

Rupert, it's not an equivalent situation. I'm assuming you were working without a contract, or that, in the event you were, the raise was not something promised in your contract; it was an extra goodie they gave you. I'm also assuming the heads of the company didn't give themselves a raise at the same time as they returned your salary to where it was a year previous (I don't know if you receive benefits from them, if so, I am also assuming they didn't cut those benefits. If I am incorrect, please correct me, and I apologize for incorrect assumptions). Compare with this from an actual Hostess employee:



So, it wasn't a case of overpaid employees refusing to take a hit; it was a case of rank-and-file employees finally saying "Enough" after years of having their contracted compensation taken away and taken away by execs who continued to give themselves raises and compensation.

http://blogs.wsj.com/corporate-intel.../tab/comments/

Fact is, union members have taken cuts and done givebacks in many, many industries, and in return, the CEOs continue to give themselves rewards, and then complain that these very middle-class contracts cost too much money. Contracts that they agreed to years before, and now are unwilling to honor. And yet, somehow the companies can afford numerous six- and seven-figure CEO salaries.

There are several accounts at that link from Hostess employees. Well worth the read, to get an idea of what they've been going through the past several years.

You are correct. I was working with no contract.

I agree with you that CEOs should not be getting pay raises when employees are getting pay cuts.