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View Diary: Hostess files bankruptcy under private equity ownership, blames worker pensions (32 comments)

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  •  What I tell wingnuts (6+ / 0-)

    TnT: Did the workers make good twinkies?
    Wnut: Yes.
    TnT: Were the workers promised pensions?
    Wnut: Yes.
    TnT: Was there money to pay management personnel hundreds of times what workers made?
    Wnut: Probably.
    TnT: And management all got pensions too? Probably much, much larger ones?
    Wnut: Likely.
    TnT: Yet they still went bankrupt?
    Wnut: Yes.
    Tnt: So exactly why isn't this clearly a management failure?

    Killing jobs is what Mitt does. It's who he is. 'Jobkiller' should be on his business card.

    by thenekkidtruth on Fri Jan 13, 2012 at 08:03:04 AM PST

    •  the company has never (0+ / 0-)

      asked to in any way cut back on the pensions of their own employees.  They have asked, and been denied by the Teamsters, to fully fund their own pension plan just for Hostess employees and get out of the Teamsters pension funds that are grossly underfunded because they carry the burden of so many companies now out of business.  (some would say driven out of business by high labor costs and the drag of inflexible work rules)

      So any Hostess worker promised a pension would have gotten a pension IF the union would have let them fund only those pensions.  Now, as the company enters bankruptcy, what those same Hostess workers might very well end up with is not pension at all, thanks to the Teamsters.

      Now your facts.

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