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25. Re: Out of the Blue Nov 29, 2012, 13:23 Beamer
 
Bodolza wrote on Nov 29, 2012, 12:40:
Beamer wrote on Nov 29, 2012, 12:13:
"Executives" is the press' word, not Hostess. This is 19 people they consider vital...And I guarantee a few IT guys keeping the systems going.

Got anything to back that up?

"The company says the incentive pay is needed to retain the 19 corporate officers and "high-level managers" during the liquidation process, which could take about a year.

Two of those executives would be eligible for additional rewards depending on how efficiently they carry out the liquidation. The bonuses would be in addition to their regular pay.

The bonuses do not include pay for CEO Gregory Rayburn, who was brought on as a restructuring expert earlier this year. Rayburn is being paid $125,000 a month."


Unless you mean the IT part, and this money is going to the people deemed critical. At least one IT guy other than the CTO will be deemed critical.

And no, a court ordered appointee cannot do this as well. This is about selling Hostess. A court ordered appointee does not know the company or the business well enough to be a significant part of due diligence.
 
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