"Hostess Brands spokesman Erik Halvorson confirmed that his company had,
in fact, baked its last batch of the cream-filled cakes which were then
shipped them to Chicago."
By the way, Dear Readers, you know how the Hostess CEO said it was the labor union that brought the company down? Not true, which Madame L is sure does not surprise you:
The affected unions had already made concessions on wages and benefits, and the company had refused to pay out benefits promised by contract.
"Frank Hurt, president of the Bakery, Confectionery, Tobacco Workers and Grain Millers (BCTGM) says: 'Hostess
Brands is making a mockery of the labor relations system that has been
in place for nearly 100 years. Our members are not just striking for
themselves, but for all unionized workers across North America who are
covered by collective bargaining agreements.'
"BCTGM says the
company has ceased making contractually obligated payments to the
Hostess workers’ pensions since July 2011 and has pocketed
approximately $160 million—money earned by and owed to its dedicated
workforce. (emphasis added)
"Hostess Brands is in bankruptcy for the second time in
eight years. Since the first bankruptcy in 2004, BCTGM members across
the country have taken dramatic wage and benefit concessions and
watched as 21 Hostess plants were shut down and thousands of jobs were
lost. At the time of the first bankruptcy, Hostess workers were assured
by management that money saved via concessions and plant closings would
help make the company stronger, more vibrant and more competitive.
"Instead,
according to the union, the money has gone towards executive bonuses
and payments to the hedge fund that owns Hostess brands. Hurt says, 'Our
members have now said NO to Hostess and the Wall Street investors in
the only means available to them, the strike. [We] stand in full and
uncompromising support of our striking members.'"
1 comment:
Hey! It IS the end of the world!
NO MORE TWINKIES!!?!!!
It's a prioritization issue:
Peace (no assault rifles in crazy hands)
Israelis treat Palestinians with dignity
China stops bullying its neighbors
EVERYONE GETS A TWINKIE
...how would YOU call it?
...or: which is the most likely?
~~~~~
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