Unions, Pensions | featured news

... According to a report by the Wall Street Journal , Hostess’ CEO, Gregory Rayburn, essentially admitted that his company stole employee pension money and put it toward CEO and senior executive pay (aka “operations”). While this isn't technically illegal, it's another sleazy theft by Hostess executives - who've paid themselves handsomely while running their company into the ground. Just last month, a judge agreed to let Hostess executives suck another $1.8 million out of the bankrupt company to pay bonuses to CEOs.

Two more public employee unions -- representing doctors, dentists and engineers -- have agreed to tentative contracts with Gov. Arnold Schwarzenegger, expanding to six the number of labor unions the governor has convinced to accept pay cuts and pension rollbacks.