Potential Buyers Come Forward; Hostess Executives Receive Bonuse - KTUL.com - Tulsa, Oklahoma - News, Weather & Sports

Potential Buyers Come Forward; Hostess Executives Receive Bonuses

Posted: Updated:

(AP) - It looks like we haven't seen the last of the Twinkie.
    
Hostess Brands says it's in talks with 110 potential buyers for the product lines that it makes -- including Twinkies, Ding Dongs and Ho Hos.
    
A financial adviser for the company said in bankruptcy court today that the suitors now include at least five national retailers. He says the buyers are "serious" and that they are ready to pay "substantial" amounts.
    
The update on the sale of the brands came as Hostess looked for court approval to give its top executives bonuses totaling up to $1.8 million as part of its plans to wind down its operations.
    
The company says the incentive pay is needed to retain high-level company officials during the liquidation process, which could take about a year.
    
Two of the executives could get additional rewards, depending on how efficiently they carry out the liquidation.
    
The bakers union is asking the judge to appoint an independent trustee to oversee the liquidation. The company announced plans to liquidate after the union went on strike earlier this month.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

  • NewsMore>>

  • High Temps Forecasted For Center of The Universe Festival

    High Temps Forecasted For Center of The Universe Festival

    And it's bound to be a real scorcher for fans once again.Last year, the heat index was over 100. And this year, the crowd can expect much of the same.To keep things cool, the festival is working with paramedics to make sure everyone can escape the heat.Co-Founder, Phil Kaiser says, businesses will also play a big role."Part of the reason for doing it in this urban environment is that you have all of these restaurants and bars and other businesses. They're all air conditioned."More than 110 ba...More >>
    And it's bound to be a real scorcher for fans once again.Last year, the heat index was over 100. And this year, the crowd can expect much of the same.To keep things cool, the festival is working with paramedics to make sure everyone can escape the heat.Co-Founder, Phil Kaiser says, businesses will also play a big role."Part of the reason for doing it in this urban environment is that you have all of these restaurants and bars and other businesses. They're all air conditioned."More than 110 ba...More >>
  • Mayo Demonstration Academy Will Reopen To Ease Overcrowding

    Mayo Demonstration Academy Will Reopen To Ease Overcrowding

    The halls at a vacant Tulsa school will soon, once again, be filled with children.Monday night, the school board approved phase four of Project Schoolhouse.Mayo Demonstration Academy will re-open to help ease overcrowding in east Tulsa.The school will be renovated and expanded using bond money.It will serve students in kindergarten through 8th grades..Amy Polonchek, TPS Chief of Staff says, it's something new for Tulsa."A lot of advantages to keeping students together for that long. You reduc...More >>
    The halls at a vacant Tulsa school will soon, once again, be filled with children.Monday night, the school board approved phase four of Project Schoolhouse.Mayo Demonstration Academy will re-open to help ease overcrowding in east Tulsa.The school will be renovated and expanded using bond money.It will serve students in kindergarten through 8th grades..Amy Polonchek, TPS Chief of Staff says, it's something new for Tulsa."A lot of advantages to keeping students together for that long. You reduc...More >>
  • Search Continues in 1996 Cold Case

    Search Continues in 1996 Cold Case

    Investigators are continuing their search for the remains of a Rogers County woman who hasn’t been seen since 1996.More >>
    Investigators are continuing their search for the remains of a Rogers County woman who hasn’t been seen since 1996.More >>
Powered by WorldNow

P.O. Box 8 Tulsa, OK 74101-0008

Powered by WorldNow

All content © Copyright 2000 - 2014 Worldnow and KTUL. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.