Unions Take down another company!

007 said:
It was in bankruptcy because the unions stupidly assumed it was still 1960 and people still eat the shit thst hostess made!!
If you make a product that doesn't sell, you make changes.
That's not mismanagement , that's changing markets.
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So you are saying the unions were making the management decisions
 
Althea said:
They are not willing to take draconian wage and benefit cuts on top of the significant concessions they made in 2004 and give up their pension so that the Wall Street vulture capitalists in control of this company can walk away with millions of dollars.
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well it worked out for everyone then......no venture capitalists walked away with millions and the workers didn't have to give it up wages and pensions willingly......they simply had them taken away........
 
Rune said:
So you are saying the unions were making the management decisions
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No they just refused to see reality.
They assumed that buisness was good, that profits were growing and that they should get more.

It's not the first time unions tried to get blood out of a stone.
Tbvh the company was all done, the unions just gave it the coup de grace!
 
:rofl2:..... Big, bad, Eeeeevil unions.....:rofl2:

Hostess Blames Union For Bankruptcy After Tripling CEO’s Pay

Hostess-Snacks1-e1353077916113.jpg


Today, Hostess Brands inc. — the company famed for its sickly sweet desert snacks like Twinkies and Sno Balls — announced they’d be shuttering after more than eighty years of production.

But while headlines have been quick to blame unions for the downfall of the company there’s actually more to the story: While the company was filing for bankruptcy, for the second time, earlier this year, it actually tripled its CEO’s pay, and increased other executives’ compensation by as much as 80 percent.

At the time, creditors warned that the decision signaled an attempt to “sidestep” bankruptcy rules, potentially as a means for trying to keep the executive at a failing company. The Confectionery, Tobacco Workers & Grain Millers International Union pointed this out in their written reaction to the news that the business is closing:

BCTGM members are well aware that as the company 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.

Certainly, the company agreed to an out-sized pension debt, but the decision to pay executives more while scorning employee contracts during a bankruptcy reflects a lack of good managerial judgement.

It also follows a trend of rising CEO pay in times of economic difficulty. At the manufacturing company Caterpillar, for example, they froze workers’ pay while boosting their CEO’s pay to $17 million. And at Citigroup, CEO Vikram Pandit received $6.7 million for crashing his company, walking off with $260 million after the business lost 88 percent of its value.
 
KingCondanomation said:
Mismanagement is not the reason, its an over capacity market as the CEO mentioned. I suppose you could argue that the demand for the type of products they make (e.g.: twinkies and chips) is not as strong as it could be due to health concerns and it might be argued that a push for more government in healthcare accentuates that decline.

You are looking at this too emotionally with regards to "workers" versus management, do you really think if a sports team is in trouble that it would axe it's higher salaries and start winning again? Why would the same logic work in any other industry? You have to pay what the market is paying for labor of certain positions. Their management was likely on par for the industry for similar management, their bakers (being unionized) were almost certainly overpaid compared to non-unionized bakers (especially in this economy). That's not said with any meanness towards anyone, I used to mop up puke when I started at McD's so please don't stereotype others as being selfish and uncaring, it's just the reality of the situation.
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Mismanagement is not the reason? They were in bankruptcy for five years in the last decade, why didn't they learn their lesson?

"The workers had taken concessions to help the company survive a previous bankruptcy..."
 
bravo said:
And still the union demanded more and would not share in the pain ....... from a company that was already in the process of bankruptcy....amazing indeed.
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Amazing indeed that Hostess just emerged from a previous bankruptcy in 2009 and still didn't learn squat about running the company.
 
christiefan915 said:
Amazing indeed that Hostess just emerged from a previous bankruptcy in 2009 and still didn't learn squat about running the company.
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Sure they learned something. I'm sure Mr. 300%-pay-raise-CEO floats away on a golden parachute. Short-term gains. Hey - what rhymes with 'gain'? Bain! Coincidence?
 
The dummies don't recognize vulture capitalism when they see it...jerks always blame labor.
 
I Love America said:
Now they are unemployed. Fuck em. Fuck unions and fuck you
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Always nice to see another "patriotic " American showing how he really feels about his fellow countrymen.

When the shit hits the fan another "patriot" shows his true colors.

ILA's attitude="I got mine...go fuck yurself."
 
007 said:
It was in bankruptcy because the unions stupidly assumed it was still 1960 and people still eat the shit thst hostess made!!
If you make a product that doesn't sell, you make changes.
That's not mismanagement , that's changing markets.
Click to expand...


Riiiiiiight...so according to Mr Bond...the UNIONS ASSUMED that people still eat that shit.

But in his fantasy world, it ISN'T THE FAULT OF MANAGEMENT for still making "shit" that people do not eat.

Oh no...don't blame management for making "shit" people don't eat anymore...it's ALL the UNION'S fault...ROTFLMAO!

Only in delusional RightieLand!
 
Bijou said:
:rofl2:..... Big, bad, Eeeeevil unions.....:rofl2:

Hostess Blames Union For Bankruptcy After Tripling CEO’s Pay

Hostess-Snacks1-e1353077916113.jpg


Today, Hostess Brands inc. — the company famed for its sickly sweet desert snacks like Twinkies and Sno Balls — announced they’d be shuttering after more than eighty years of production.

But while headlines have been quick to blame unions for the downfall of the company there’s actually more to the story: While the company was filing for bankruptcy, for the second time, earlier this year, it actually tripled its CEO’s pay, and increased other executives’ compensation by as much as 80 percent.

At the time, creditors warned that the decision signaled an attempt to “sidestep” bankruptcy rules, potentially as a means for trying to keep the executive at a failing company. The Confectionery, Tobacco Workers & Grain Millers International Union pointed this out in their written reaction to the news that the business is closing:

BCTGM members are well aware that as the company 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.

Certainly, the company agreed to an out-sized pension debt, but the decision to pay executives more while scorning employee contracts during a bankruptcy reflects a lack of good managerial judgement.

It also follows a trend of rising CEO pay in times of economic difficulty. At the manufacturing company Caterpillar, for example, they froze workers’ pay while boosting their CEO’s pay to $17 million. And at Citigroup, CEO Vikram Pandit received $6.7 million for crashing his company, walking off with $260 million after the business lost 88 percent of its value.
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NOWNOWNOW!!

Didn't you read where it's all the UNION'S fault that Hostess is failing?
 
ZappasGuitar said:
ILA's attitude="I got mine...go fuck yurself."
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The Unions attitude="I want more....fuck the company."

Quote Originally Posted by Rokin Kat
If a company stops paying into my pension fund I really do not care what happens to them.

I work for anyone for my benefit.
I am not a charity org for corporations.
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===================================

And the company exists for THEIR benefit, not yours

and why should they feel any different about you, than you do about them....

they are not charity's either....

Fair enough ?
 
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