-
Wausau fire crews battled a fire on Sherman Street.More >> Wausau fire crews battled a fire on Sherman Street.More >> A 17-year-old is charged with providing a hallucinogen drug to a man who ran onto a Barron County highway and was fatally struck by a semi.More >> A 17-year-old is charged with providing a hallucinogen drug to a man who ran onto a Barron County highway and was fatally struck by a semi.More >> Ashland County authorities say a La Crosse doctor and his brother were killed in a single-engine plane crash on Madeline Island.More >> Ashland County authorities say a La Crosse doctor and his brother were killed in a single-engine plane crash on Madeline Island.More >> The Lincoln County Sheriff's Office has new information that a wanted suspect is in the Wausau area, and authorities believe he is armed and extremely dangerous.
More >> The Lincoln County Sheriff's Office has new information that a wanted suspect is in the Wausau area, and authorities believe he is armed and extremely dangerous. Officials urge you to call 911 immediately if you spot Christopher Meindel.
More >> SPENCER (WAOW) - The Clark County Sheriff's Department says an 81-year-old Spencer man died Monday when the car he was driving ran into a freight train at a rural crossing.More >> SPENCER (WAOW) - The Clark County Sheriff's Department says an 81-year-old Spencer man died Monday when the car he was driving ran into a freight train at a rural crossing.More >> The U.S. Coast Guard is expected to resume a search for a man presumed drowned in Lake Michigan off the Kenosha shore.More >> The U.S. Coast Guard says it's suspended its search for a man presumed drowned in Lake Michigan off the Kenosha shore.More >> Two officials say that Secretary of State John Kerry has chosen Russ Feingold, a former Democratic senator from Wisconsin, as the new U.S. special envoy for Africa Great Lakes region.More >> Two officials say that Secretary of State John Kerry has chosen Russ Feingold, a former Democratic senator from Wisconsin, as the new U.S. special envoy for Africa Great Lakes region.
More >> Formal charges are expected to be filed later this week against the Rib Lake mother accused of trying to kill four of her six children.More >> Formal charges are expected to be filed later this week against the Rib Lake mother accused of trying to kill four of her six children.More >> Another woman suspected of causing her to fall has been arrested.More >> Another woman suspected of causing her to fall has been arrested.More >> A new study raises concerns about Wisconsin's long-term economy, in part because its larger industries sell older technologies that are being overtaken by newer advances.More >> A new study raises concerns about Wisconsin's long-term economy, in part because it relies too heavily on industries that are now facing a decline.More >>
-
As the warm weather settles in so do the bugs.More >> Officials are searching for a wanted felon who they say is armed and dangerous.More >> A Taylor County woman is accused of trying to kill her own children.More >> College for kids is on in Wausau at UWMC.More >> Two men were killed in a plane crash in northwestern Wisconsin.More >> Weather Show June 18thMore >> Lincoln County Sheriff's authorities say a fire in April may be connected to a murder case there.More >>
NEW YORK (AP) -
Hostess Brands Inc. is asking for a judge's approval to give its top executives bonuses totaling up to $1.8 million as part of its wind-down plans.
The maker of Twinkies, Ding Dongs and Ho Hos 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.
Hostess is also seeking final approval for its wind-down, which was approved on an interim basis last week.
The process includes the quick sale of its brands, which also include CupCakes, Donettes and Wonder Bread. Hostess says it has received a flood of interest in the brands, including from national packaged food makers, international companies and its own customers, which include supermarkets and big-box retailers. Hostess sales have been declining over the years, but still come in at between $2.3 billion and $2.4 billion a year, a banker for the company said in court last week.
The company's shuttering means loss of about 18,000 jobs.
In court Thursday, an attorney for Hostess noted that the company is no longer able to pay retiree benefits, which come to about $1.1 million a month. Hostess stopped contributing to its union pension plans more than a year ago.
The company's demise came after years of management turmoil, with workers saying the company failed to invest in updating its products. In January, Hostess filed for its second Chapter 11 bankruptcy in less than a decade, citing steep costs associated with its unionized work force.
Although Hostess was able to reach a new contract agreement with its largest union, its second biggest union rejected the terms and went on strike Nov. 9. A week later, Hostess announced its plans to liquidate, saying the strike crippled its ability to maintain normal production.
