Wall Street was to blame, not execs or workers. Hostess was in trouble. They needed financing. There were NO banks that would help em. Banks these days do useless mergers and acquisitions, not real productive financing. That's the Wall Street model.
So Hostess went to the loan sharks: hedge funds and Bainist capital firms. They said, "you will pay us 25% in three years or we will bleed you dry". Hostess said "...sure."
Three years later, Hostess had no more options but to shutter. The loan sharks will strip em to the bone to get back whatever they can.
At least that was three years of good wages for the workers, and millions in dues to the union. If it wasn't for the greedy loan sharks, they would've shuttered years ago.
Not a nice situation. But it could have been worse.
"Cowards & idiots can come along for the ride but they gotta sit in the back seat!"
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