Union Wins! Hostess Out of Business

[menotyou]

They will re-open. In like Mexico or something. Where they don't have any unions to protect the workers, and can pay them $2/hr. I'm sure Wall Street will love that.

 

[menotyou]

I agree, good that they had their jobs for 3 more years...........did any of them plan, save, or do anything for the coming crisis?? Probably not.

There wages were cut in half in those three years.

 

[Catatonic]

Seems like the only losers are the working people, instead of inflated wages they took concessions and reduce their wages by more than 1/3. When they balk at further cuts they shut the doors, (which seems to be the plan from the beginning), the working people get the blame.

I would think there were several scenarios planned on from the beginning.
I don't think the hourly employees were blamed (except on FOX and the like). Most what I've heard on network has been, it was an impasse.

If I were an inside factory hourly, I might not have taken the offer either. They can make almost as much on unemployment. The medical is questionable and the retirement is probably already in default or close.

Hopefully, there are government programs to help them out.

I think your mindset or belief is that the company exists to create and provide jobs and that simply is not the case ... not ethically, morally or legally
However, I understand the bitterness and frustration.
Hell, I'm still pissed at Santa Claus because I did not get my Pony.

 

[menotyou]

I would think there were several scenarios planned on from the beginning.
I don't think the hourly employees were blamed (except on FOX and the like). Most what I've heard on network has been, it was an impasse.

If I were an inside factory hourly, I might not have taken the offer either. They can make almost as much on unemployment. The medical is questionable and the retirement is probably already in default or close.

Hopefully, there are government programs to help them out.

I think your mindset or belief is that the company exists to create and provide jobs and that simply is not the case ... not ethically, morally or legally
However, I understand the bitterness and frustration.
Hell, I'm still pissed at Santa Claus because I did not get my Pony.

You never stop making me laugh so hard I cry.

 

[bluehdmc]

Hostess, Unions Agree to Mediation at Judges Urging

Hostess, union agree to mediation at judge's urging - Yahoo! News

The U.S. Trustee, an agent of the U.S. Department of Justice who oversees bankruptcy cases, said in court documents it is opposed to the wind-down plan because Hostess plans improper bonuses to company insiders.

 

[bluehdmc]

I think your mindset or belief is that the company exists to create and provide jobs and that simply is not the case ... not ethically, morally or legally
However, I understand the bitterness and frustration. [unquote]


I understand companies exist to make money, not to provide jobs. What I think is total unethical and immoral is where the executives cry the company is going down the tubes, expect the working people who create the product that IS the company to take pay cuts, yet take no pay cuts themselves and in fact give themselves huge raises.

 

[Catatonic]

I understand companies exist to make money, not to provide jobs. What I think is total unethical and immoral is where the executives cry the company is going down the tubes, expect the working people who create the product that IS the company to take pay cuts, yet take no pay cuts themselves and in fact give themselves huge raises.

The Executives do not give themselves these big raises typically.
The Board of Directors, who have the fiduciary responsibility to ensure the shareholders' interests are protected, give these raises to these executives to ensure they do not try and save the company and their salaries which would be "enlightened self-interest". These raises are a "golden parachute" of sorts and if teh executives don't do teh Board's biding, they are fired with no "golden parachute". It's a pretty tried and true methodology.

 

[The Other Side]

Hostess may not be out of business after all, at least, under new management.

Hostess Brands May Not Survive But Iconic Twinkie Will | Daily Ticker - Yahoo! Finance