|Courtesy of the AFL-CIO.|
Friday, November 16, 2012
Hostess closes: Blame management, not the unions
Hostess Brands announced today that it was liquidating due to a strike by its workers, represented by the Bakery, Confectionery, Tobacco Workers and Grain Millers International Union. Forbes magazine is reporting that this is a case where several owners have raided the company for its assets, leaving an empty shell and millions of dollars in pension liabilities behind. It's too bad that 18,500 people are also losing their jobs.
Will Twinkies survive? I don't know. All I know is that they're not good for you and I've only eaten one or two my entire life.