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16. Re: Out of the Blue Nov 29, 2012, 12:02 Creston
Beamer wrote on Nov 29, 2012, 11:39:
I don't get your first point. They cannot get unemployed immediately - it's more or less impossible to sell this company without these guys. They're the ones that have actually been running it - they're needed to run it in the time being and whoever buys it will want to spend considerable time speaking with them as part of due diligence. There's more or less no way to move forward with this company without having many of these people in place.

You make the argument that without bonuses they will flee for the first possible job offer, and that if they stay they will eventually run out of this job and possibly be unemployed for a long time. So they need extra money to sweeten the deal.

So if you take the bonuses out of the equation, by simply saying "Fuck you, you're not getting any bonuses" they are left with either finding a new job, or sticking around with this one, or going unemployed. And if they can't find a new job, what are they going to do? Quit? Or keep pulling their retardedly large salary for what amounts of turning off the lights?

Lots of these guys aren't the ones that ran it into the ground, either. Put the blame on the CEO for that. Many of these guys weren't in that decision-making position. Like I said, I'm sure many IT guys are part of this. Can you blame the guy maintaining the Exchange server for running Hostess into the ground?

What company do you work for where the Exchange administrator (or ANY IT guy other than the CTO) is considered an EXECUTIVE???

But, when a business is being wound down and is courting new buyers, you need at least a skeleton crew to keep operations going and you need some of the people that were in charge of functional areas (e.g., anyone in the upper half of marketing, whoever runs the IT infrastructure, all your field operations people) to stick around to answer questions for the due diligence so that a buyer is convinced that it's worth whatever asking price.

But the IT guy isn't going to get any bonuses. The poor IT guy is going to stick around because, hey, it beats going on social security. They are talking about the EXECUTIVES getting the bonuses. So what if they all fucking leave? You hire an auditor to go through their books and figure out its worth.

Btw, when they go into chapter 11, don't they get assigned someone who oversees the chapter 11 anyway?

I seriously fail to see why the executives need extra fucking money to "stay motivated." Fuck that noise. That's 1.8 million dollars they could put in a pot for the poor 18000 people who will lose their jobs AND pensions. I'm sure they could use a thousand bucks each much, much, MUCH more than the cocksucking executives need money to buy another fucking Aston Martin.

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