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The Wood County Sheriff's Department is looking for a missing woman.More >> The Wood County Sheriff's Department is looking for a missing woman.
More >> Despite dozens of tips, a wanted felon from Merrill is still on the run. Now, we're learning more about his possible connection to more than 40 drug sites.More >> Despite dozens of tips, a wanted felon from Merrill is still on the run. Now, we're learning more about his possible connection to more than 40 drug sites.More >> Wausau fire crews battled a fire on Sherman Street.More >> Wausau fire crews battled a fire on Sherman Street.More >> A medical examiner has testified that a slain 78-year-old Wisconsin woman was struck at least 27 times with sharp and blunt objects.More >> A medical examiner has testified that a slain 78-year-old Wisconsin woman was struck at least 27 times with sharp and blunt objects.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 >> 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 >> 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 >> A tornado warning for Denver International Airport is over and no damage has been reported.More >> A tornado warning for Denver International Airport is over and no damage has been reported.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 >>
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A fire damaged a house in Wausau on Tuesday morning.More >> Officials are searching for a wanted felon who they say is armed and dangerous.More >> Ying Xiong appeared in Eau Claire County court Friday.More >> Wood County Officials have confirmed to Newsline 9 that Janet Webb has been located and is safe.More >> Christopher Meindel, 36, has been on the run for more than a month.More >> The Wisconsin State Assembly is scheduled to vote on the state budget Thursday afternoon.More >> It took 58 days, riding 3,000 miles through 8 states, but Helen Pagenkopf and Brenda Memer can say they've rode their bikes across the country.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.
