Hostess to close, lay off 18,500 after 'crippling' union fight — Page 6

Theatrefan4, it's not "their" (the employees) money. It's the company's (Hostess) money that they get to spend as they see fit.

They agreed to a pay cut because they were told that's what will keep the company afloat. When you learn that all that money that was supposed to keeping the company level was going right into the CEO's pocket and they cut your benefits and then ask you to take another paycut. It's obvious the Execs knew the end was nearing and were trying to take as much as the pie as they could before the bubble burst.

You know, Iliveintherealworld when you come in dressed up as another name and yet spout the same bull**** the facade of that names melts away. You're right, companies DON'T have to care about their employees, but they should. This company obviously didn't and saw their employees as nothing more than pawns to be sucked dry before they could sell their brands off to the highest bidders.

Well Jungle Red, unfortunately not coming to an agreement means everyone looses their jobs. Both workers and executives. Agree to disagree. But no matter who's at fault, definitely sad over all. Will be thinking of everyone this holiday.

Updated On: 11/20/12 at 01:19 AM

Texass I'm curious: Why are you so passionate about this issue? I feel bad for the workers- their union has been crunched and crunched and crunched. As you might guess from reading my posts I have a friend-of-a-friend who worked at the plant. His family has been pretty much devastated by the cuts he's taken. I feel awful for him. He's worked there for years and now will start out at the bottom of the ladder at another plant. The silver lining? He thinks he'll be able to get a job that pays better than the contract that was offered at Hostess.

So who are you rooting for? The Executives who got a 300% raise when they sealed the last contract? The owners who scooped out hundreds of millions in profits out of this company and left it too poor to function?

Updated On: 11/20/12 at 10:18 AM

Hey Lookee! Hostess paid out millions in bonuses to top executives and gave them generous raises, all while demanding the unions take yet another pay cut. The bankruptcy judge is looking at these expenses to see if they violate the bankruptcy.
Damn those Ho Ho's!

That's sort of Leverage. Kind of.