Interstate Seeks To Bump Board's Salary

Law360, New York (February 23, 2007, 12:00 AM EST) -- Interstate Bakeries Corp. has asked a bankruptcy court to bump up the salaries of its directors by $45,000 apiece to prevent the executives from jumping ship.

On Thursday, Interstate presented the court with its revised compensation plan, laying out a proposal to pay the six directors retainers of $75,000 a year.

"The revised compensation structure will assist the debtors in retaining their current directors who, as the court previously recognized, provide valuable perspective and experience," Interstate Bakeries said in court documents.

The maker of Hostess Twinkies...
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