By now I’m sure the majority of people reading this know about Hostess’ bankruptcy. After contract disputes between the union and owners the company threatened to close its doors. A meeting between the two parties failed to bring about any changes, and now it looks like the company is closing for good.
At first people were furious over the possibility of losing their favorite oddly chewy bread and hostess cakes that are filled with some kind of sweetened shaving cream. Some are still mourning their food loss, but others are far more outraged at the bonuses executives feel entitled to. I could just do a thorough write up of the issues, but I think that this picture that has been floating around internet forums sums it up the best:
As you can see, Hostess executives have already gotten far more bonuses than they could ever deserve. So when they requested that their bankruptcy judge, Judge Robert Drain, to grant approval for $1.8 million in executive bonuses people were disgusted. That disgust turned into a full blown rage vomit after news hit that the judge actually granted their request.
If Judge Dredd had been ruling the case, we would have seen a very different and spine-ripping outcome
When people learned about the Internet was flooded with articles wondering why on earth Judge Drain could have allowed this decision to happen. Some people theorize that he may have some kind of deal worked out with Hostess executives, others think that this may be a part of some economic conspiracy. I’m not even going to try to explain the convoluted reason Hostess’ spokesman Lance Ignon gave in favor of executives getting their bonuses, so you can just read it on Forbes (WARNING: reading this article may cause you to have a rage aneurism and notice a distinct smell of fecal matter).
The short form answer Ignon gave is that Hostess owes a lot of money to their former employees and investors, and somehow giving out bonuses will help them pay what they owe. Even if his answer does make sense to some it angers many others. It seems like many people think that Hostess executives should deal with the mess they created, and that any bonus money should be given to employees. Regardless of what people think the execs already have their money, so seeing any change is unlikely.