subspaceseven
Posts: 467
Joined: 3/2/2012 Status: offline
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They are blaming the union, but when one looks at their stock prices and management, this is a surprise to no one. This is the second time they have filed for bankruptcy ( in under 10 years), though union workers took cuts, no one in management did If you look at their filing.... The company's last operating report, filed with the bankruptcy court in late October, listed a net loss of $15.1 million for the four weeks that ended in late September, mostly due to restructuring charges and other expenses. and "result of nearly a decade of financial and operational mismanagement" and that management was trying to make union workers the scapegoats for a plan by Wall Street investors to sell Hostess. I'm sure Bain can come in and ship everything overseas, what the hell a huge debt, only employees asked to pay for it and top exec's get full pay while running the company into to it's second bankruptcy... So they borrowed to much and wall street would not lend them anymore...Can you show me where the top exec's took a cut in pay????? Oh wait they will still get millions in golden parachute deals even when they file .. Maybe the market just got tired of Ho ho's and twinkes, white bread sales have been down for years,..but hey, it's a free market when you fail to adopt just blame the union, don't offer anything new.....just blame the worker in the factory...cause there is a black guy in the WH
< Message edited by subspaceseven -- 11/16/2012 8:41:01 AM >
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