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View Diary: Inside the Hostess Bankery- The Movie, Who Keeps the Dough (25 comments)

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  •  you didn't contribute that. (1+ / 0-)
    Recommended by:
    VClib

    you never owned those wages, they were to be contributed on your behalf by the company.

    kind of a reckless decision by the pension to agree to be a creditor of a company that had gone in and out of bankruptcy.  I'm startled they didn't demand some sort of security.

    •  the part I meant to stress there is that (1+ / 0-)
      Recommended by:
      VClib

      you didn't get additional wages from those raises; rather, you sacrificed wage income for unsecured promises to pay to a pension fund.  you got something, just not wages in the legal sense

    •  You don't get it. (5+ / 0-)

      We absolutely owned those wages.

      The Union negotiates our wages, including pension, and the company pays our wages, including pension. By your description we don't even own the wages we actually received.

      What does this mean
      "decision by the pension to agree to be a creditor"

      The pension is a third party not ran by the Union or the company. They never agreed to be a creditor in any way for anyone. They simply manage the pension fund, without interference from the Union or company. If the company doesn't send the check then we are out of the pension.

      When the company stopped sending the $4.25 an hour to the pension they did not start putting the $4.25 an hour on our checks. So where is it? It is ours, its the raises WE voted to put on the pension. If we had voted to keep it on our hourly it would still be there.

      This is not as complicated as you want it to be.

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