Apparently, Hostess CEO Gregory Rayburn has not only run a decades-old American marketing sweetheart into the ground, he has drained company pension to pay off executives, sent out falsely positive letters to boost the stock price so management could sell shares at a higher price, and generally been a big fat douche.
According to a report by the Wall Street Journal, Hostess’ CEO, Gregory Rayburn, </span>essentially admitted that his company stole employee pension money and put it toward CEO and senior executive pay
I’ve never been a big fan of Hostess. I don’t eat much bread at all anymore (trying my damndest to be gluten-free), but when I did, it was never plain white Wonder bread. And the fact that the Twinkies “cream filling” contains no actual dairy of any kind sort of freaks me out.
It’s very probable that someone will buy the Hostess name and brands and keep pumping out nutritionally questionable, long-shelf life baked goods, but I won’t miss it if they don’t. I will be sad to lose 18,000 good-paying Union jobs with insurance and benefits, but it’s doubtful anyone who buys them would offer such a deal in this day and age anyway. s