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View Diary: The unions killed Hostess…another right wing myth. (56 comments)

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  •  The union may be partially to blame (1+ / 0-)
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    Jon Says

    Hostess lost $341 million last year.  With that level of loss, I'm sure Hostess could have gotten rid of all of its highly paid executives, and still be losing money.

    The latest news indicates they really basically run out of money, and the lenders that were lending them money to work through bankruptcy wouldn't lend any more.

    It's very clearly the case that the main reason Hostess was so damaged was poor management decisions over the last decade.  Hostess had 6 CEO's over the last 10 years - collectively they made a series of poor decisions that are the real reason Hostess died.

    But if it really was the case that there wasn't any more money, what was Hostess to do?  If you don't have the money, and you can't borrow the money, what solution is there if someone wants more money than you have?

    •  You mean the workers who're keeping the lights on? (1+ / 0-)
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      Glen The Plumber

      You don't blame them for your failures.

      Being bad at business and taking an extra 2 million dollars out of a struggling company is not justification for vilifying the people who are actually there to make the company function.

      Take back the House in 2014!!!!!!!!!!!! (50 state strategy needed)

      by mungley on Fri Nov 16, 2012 at 11:45:44 PM PST

      [ Parent ]

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