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Union Wins! Hostess Out of Business
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<blockquote data-quote="bluehdmc" data-source="post: 1056023" data-attributes="member: 18471"><p>It makes a nice sound bite for FAUX news to say it's all the unions fault, this is from Yahoo Finance/The Atlantic:</p><p>In short: the smart money guys larded Hostess with too much debt and never figured out a real plan for fixing its business. And they're going to lose their investments as a result. </p><p>As far as the unions go: You can blame them for not making enough concessions. You can blame the bakers for administering the final death blow. But you can't blame them for management's strategic incompetence, or the decision to try to run a flailing company on debt, hope, and empty calories. </p><p>There's more than enough blame in this story for everyone involved to have a taste. </p><p></p><p>The bakers union also said the CEO's wages were outrageous. </p><p></p><p>I think the baker's union had had enough cuts/concessions.</p></blockquote><p></p>
[QUOTE="bluehdmc, post: 1056023, member: 18471"] It makes a nice sound bite for FAUX news to say it's all the unions fault, this is from Yahoo Finance/The Atlantic: In short: the smart money guys larded Hostess with too much debt and never figured out a real plan for fixing its business. And they're going to lose their investments as a result. As far as the unions go: You can blame them for not making enough concessions. You can blame the bakers for administering the final death blow. But you can't blame them for management's strategic incompetence, or the decision to try to run a flailing company on debt, hope, and empty calories. There's more than enough blame in this story for everyone involved to have a taste. The bakers union also said the CEO's wages were outrageous. I think the baker's union had had enough cuts/concessions. [/QUOTE]
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