The company is U.S. Sugar, which is screwing its workers by buying back the stock of retiring workers (under an Employee Stock Ownership Plan) at an undervalued price so the company's managers can then resell the shares for a lot more money. U.S. Sugar was buying out its workers for $194 a share; at the same time the company had rejected a buyout offer of $293 a share as being too cheap. The company had determined that the breakup value of the company was well over $1,000 a share.
I am just shocked, shocked, to learn that a company is fucking over its employees so that top management can line their own pockets.
Who Wants To Tell Them?
39 minutes ago
1 comment:
Actually, I think it is a moral imperative for Executives to suck the best out of the World for themselves and other like parasites - or do you have one of those Golden Parachutes, too? Mine was some greenish color and only slowed my descent to the ground, I could still get bruised and broken.
Sugar is bad for folks anyway you take it.
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