The Union seems to know so much about what should be paid and how the company
should be managed,I got an idea--- how about the union buying out the company
--- keep all the employees and pay whatever they want. and everyone will be
happy -- except the union -- risk their own money ?? -- no way.
Do some research before jumping to any conclusions. There is an excellent
article in Fortune, but DN won't allow links to be posted here so
you'll need to Google Fortune Hostess Bankruptcy to find it.Hostess was in bankruptcy once before and was taken up by a set of Equity
Companies and Hedge Funds similar to Bain Capitol.Here's an
excerpt from the article: "The dramatis personae are impressive: the
Teamsters; two large hedge funds, Silver Point Capital and Monarch Alternative
Capital; and the private-equity firm Ripplewood Holdings."This
may be just as much about attempts to bust unions and destroy long-standing
pension plans as it about making profits for investors. It's much, much
more complex than simply blaming one side or the other.But it is
something all Americans should be concerned about -- because Hostess-like
stories are playing out all over America. Your job or your retirement could be
next in line.Research before you comment or draw any conclusions.
Doing that and learning the full truth will help us all.
Hostess was in bankruptcy and was taken over by several of those hedge funds and
private equity capital companies -- similar to Bain.Google Fortune
magazine hostess bankruptcy to learn more.Once again, workers are
taking a hit to make millions for someone.
Maybe Dolly Madison can buy out the TMs for the snack cake brands in bankruptcy
Sad day! Is a world without Twinkies, fruit pies, and Wonder Bread a world we
want to live in?
If they tried to expand their line with strawberry-filled and
chocolate-chocolate filled twinkies like I said years ago, they would have been
fine. Serves them right for not hiring me. :)
Hostess filed bankruptcy in 2004 and again in 2012.I'm not so
sure it is the line employees who are the problem.
Just as the union's use strikes to try and force a business to raise wages,
the business owners have the right to shut the business down if the union
refuses to work for wages that will help keep the business valid. It's
hard to feel sorry for union workers who get the benefits of working in a union
when they get laid off because of the actions of the union.
I better stock up on my 2 year supply of Twinkies. Of course they are good for
much longer than that. This does not look good. I think there is
more to this than what is stated. I can see both sides but if they could get
the union to back off maybe they could find some middle ground. Hard to pay
people more than what they take in. My industry is the same. 95% of my
industry jobs are gone because everyone wants cheap electronic toys and gagets.
There is a reason why all is made in Asia. Hostess does not have that option.
Hope they can save such an iconic company. Twinkies were 12 cents forever.
This company has been poorly mismanaged for a very long time. Let it be
liquidated. Let a new company acquire the rights to its products. Let the new
company manage better . Let the new company give the employees be respect and
just compensation for their contributions,
This strike issue is a very difficult one and not mentioned is the nature of the
financial plight of the Hostess Company itself. There is the possibility that
Hostess has misread the nature of its business and the current atate of food
choices of the American consumer. With the purportedly trend towards healthy
foods and the concern among a more literate population about sugar and empty
calories, whether or not part of or most of the problem isn't with the
workers so much as national business decisions... Hostess has been around for
decades but it doesn't seem to have really changed with the times and its
products are mostly the same since I was a kid more than a half century ago.
Instead of media focusing of workers, perhaps it also needs to dig deeper into
the company itself.