Say goodbye to Twinkies

Saint Sarah said

For sake of placing overall blame the past is useful, but don't you think that the Union is to blame at this point? Regardless of what lead to the bankruptcy, Hostess was at a point where they needed union workers to stop striking and work (for less pay and benefits) or liquidate. They refused and now everyone lost their job.

I don't see that as a hard concept to grasp. As stated before, I'd much rather work for less than have no job at all. The marketplace will determine if you're being underpaid or not. If you are, surely someone else out there will scoop you up.

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To blame? No.

While it may have been the straw that broke the camel's back, they are hardly to blame.

We can debate labor forces and the impact an 8% decrease can have on a $12.00 an hour worker all day long; but the company was in financial shambles because of mismanagement, not because of extorting unions.

What has not been discussed in this thread is that while they were cutting the employees salaries and pensions, they were giving executive large bonuses.

The CEO's compensation tripled, from $750,000 to $2.25 mm, another executive went from $500k to $900K and a third from $375k to $650K.

That was the reason the union cited in the first place for the strike, but has gotten lost in the shuffle.