[Alupis]

The Hostess of today isn't the Hostess of yesterday. It was shredded up and pieced out. What is today called "Hostess" is owned by a holding companies and is not the original ownership.

They went from well over 30,000+ employees, down to 2,000 today.

Pretty sad honestly. The company was in a tight financial situation, and asked to postpone paying into the pension fund for a few years. The Bakers Union was the only holdout... and now nobody has a pension or wages.

[txru]

I suppose I look at this as sad from a different angle than you. The brand itself has been losing consumer trust for decades, due to changing tastes and increasing health-consciousness. Eventually, that makes it so the company can't pay on its obligations. The debtors say those obligations are non-negotiable, the company folds, and now we're left with the private equity firms driving down costs at the cost of what consumer trust was left.

If a company I worked for was ever late on a paycheck, or refused to continue paying for a pension/matching 401k, I think it's perfectly reasonable that the company should collapse.

[Alupis]

> If a company I worked for was ever late on a paycheck, or refused to continue paying for a pension/matching 401k, I think it's perfectly reasonable that the company should collapse.

Perhaps. Personally, I'd take it as a sign of whats-to-come, and leave. If other employees decided to stay, and agreed to some terms to save the company, let them.

In Hostess' case, I believe it was the Teamsters that had negotiated an equity stake in the company during a previous bout of poor financial times. There's always options.

I have a hard time believing the 30,000+ employees wanted their union to destroy the company, particularly since many of them had worked there all their life, their town had little or no other large company to provide jobs, and their pensions/retirement were tied to the entire mess. It's entirely possible Hostess was in bad times partly due to Union negotiated wage and pension funding levels.

In general, I guess I'm more skeptical of Unions than some. I've never been in a Union personally, and would chafe at the idea of being compelled to pay union dues (some jobs require this), and not being able to negotiate my own salary and benefits that fit my situation best.

[perl4ever]

The phrase "destroy the company" seems like an emotional appeal. If the company can restructure its debt, that leaves more of the pie for everyone else. Employees who didn't get a say in taking on the debt shouldn't have moral compunctions about creditors being stiffed. It's just business.