Lets tell the the Twinkie story using actual FACTS now....
2003 - Hostess begins closing plants and some other units
2004 - Hostess enters bankruptcy, and the union agrees to benefit cuts to save the company $110 million. The money is not reinvested in the company.
2004 - 2009 Hostess closes 21 plants, lays off thousands of employees.
2009 - Hostess emerges from bankruptcy, run by two hedge funds and a private equity firm, who add millions to the company's debt line.
2011 - Management, continuing to market the same products, continues running the company into the ground, and demands concessions from the unions.
2012 - Hostess enters bankruptcy again, stops paying into the employee pension fund as agreed to by them.
As Hostess was preparing to file for bankruptcy earlier this year, the then CEO of Hostess was awarded a 300 percent raise (from approximately $750,000 to $2,550,000) and at least nine other top executives of the company received massive pay raises. One such executive received a pay increase from $500,000 to $900,000 and another received one taking his salary from $375,000 to $656,256.
What caused the Twinkie's problem again?
Obamacare is Alive and the Twinkie is Dead
KCurtis
2012/11/17 12:08:47
One Union representing only a fraction of the 18500 employees would
not agree to an 8% pay reduction after the Hostess Company suffered
economic recovery from bankruptcy restructuring 3 times.
It's
obvious that the company had exhausted all options. Most of the
employees including the Drivers covered under the Teamsters Union agreed
to the reduction in order to keep their jobs.
The Bakers Union
refused. So RIP Twinkie and HoHo. The people who made you, the Bakers,
have killed you because their Union would not compromise. For the
members of this Union, good luck trying to find another job because
you're really going to need it, I don't think the Elves are hiring right
now.
Read More: http://www.followingjohngalt.org/obamacare-is-aliv...
now the mexicans will take the company over, and there wont be teamsters driving them.
another American Icon screwed by the unions, think Obama will bailout the twinkies like he did the uaw?
I went out when this was announced and bought my grocery stores last box of twinkies. One of the is in the freezer as we speak to become a form for my aluminum foil.
To the devil with the unions, I'll make my own darn twinkies! If anyone needs my recipe, just say the word and I'll post it here.
2003 - Hostess begins closing plants and some other units
2004 - Hostess enters bankruptcy, and the union agrees to benefit cuts to save the company $110 million. The money is not reinvested in the company.
2004 - 2009 Hostess closes 21 plants, lays off thousands of employees.
2009 - Hostess emerges from bankruptcy, run by two hedge funds and a private equity firm, who add millions to the company's debt line.
2011 - Management, continuing to market the same products, continues running the company into the ground, and demands concessions from the unions.
2012 - Hostess enters bankruptcy again, stops paying into the employee pension fund as agreed to by them.
As Hostess was preparing to file for bankruptcy earlier this year, the then CEO of Hostess was awarded a 300 percent raise (from approximately $750,000 to $2,550,000) and at least nine other top executives of the company received massive pay raises. One such executive received a pay increase from $500,000 to $900,000 and another received one taking his salary from $375,000 to $656,256.
What caused the Twinkie's problem again?
It's not even found on Google
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Remember when a chart is in percentages they don't want you to know the dollar value
Numbers lie in that they do not explain how or what created them.... Fact is most of Obama's deficit is caused by past policies and the past recession.. Name where Obama's 6T came from? I'll give you some clues, its up to you to see if you're bright enough to know what they are....
I'll wait for your answer as to what created Obama's deficit of 6T...
Hostess is really closing because of union extortion, I say, good for them. Blaming Romney is one way that Trumka is trying to distract people from the fact that striking workers were the ones who closed the company. The liberal press doesn't have the balls to admit the strikers caused the closing in a poor economy due to their own self-interests. The bakers union obviously doesn't play nicely because the other unions agreed to have cutbacks to keep their jobs. This is one thing that probably plays well in the White House though. The Obama regime wants as many welfare folks as they can get. Control people's lives and they vote for you forever.
The American experiment is dead, long live citizen dependence on government. I wonder how many terms Obamass will go for once he has all Americans totally under the socialist thumb and unable to function for themselves.