Originally Posted by devildog2067
What I find confusing is people who spout off when they have absolutely no clue what they are talking about.
The current CEO of Hostess is a man with a long history of working with distressed companies in turnaround. It's not an easy job, and not a lot of people can do it.
Millions? The C-level executive team at Hostess has been on a $1 salary since the spring.
The people who "worked their whole lives" (by which I assume you mean, the bakers) walked away with exactly the same thing as the other people who "worked their whole lives" at being management. Management works too, you know--it's different work, but it's still work. In some ways it's easier, in many ways it's harder.
At any rate--everyone walked away from the company with the wages they'd been paid, from the bakers to the CEO (and remember the CEO's salary right now is a dollar).
What "facts" are you talking about?
The facts are these: the company has been circling the drain since 2004 (the first time it went into bankruptcy).
It has received huge injections of cash (hundreds of millions of dollars) from investors who will never see their money again.
When management asked the union to go back to work because there would not be enough cash to operate the business without continued production and sales.
The union refused.
The company is liquidating.
How dare mgmt demand the workers work, or they won't have a job.
Obviously, the company is only there to provide the employees a job.
Congratulations Bakers Union, you are responsible for over 18k people being jobless this Holiday season. You were already being paid more than the market would bear. Now you are being paid what you are worth. And I hope that the state and the fed refuse to pay Unemployment benefits to any union worker that refused to work, since you didn't get laid off, YOU QUIT. Welcome back to the real world.