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Thread: The real reasons Hostess went bankrupt

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  1. #16
    us
    I deal in reality

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    Jim, I too don't like the word entitled and also the word empowered. Frank
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  2. #17
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    onfire

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    Seems to me Hostess was brought out of bankruptcy by a investment firm to try to turn it around, Now I'm sure they had put in some serious cash to do this. With a threat of a labor strike I'm sure they gave each other their investment plus interest in there raises. Usually company's like these are there to make profits. The days of working for Mom and Pops places who took care of their workers are gone. Well I guess the union can say "WE WON"

  3. #18
    us
    Feb 2008
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    During my 20+ years underground in a UMWA union coal mine I was elected as a union steward (mine commitieman). I tried to establish a live and let live relationship between union and company . I was told by the union body that I represented that ,"We are the Union and we will tell the company what to do !"
    >
    >That worked out real good for them ........ Consol shut down Osage #3 mine and put them all on the street .
    Wolfpack forever

  4. #19
    us
    manaloneblog.wordpress.com

    Jun 2010
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    Quote Originally Posted by the bone View Post
    I work for a union and i can say that for the job i do i am grossly overpaid and under worked. the funny thing is it seems that most people at my company seem blissfully unaware of this fact while i am constantly walking around waiting for the anvil to drop. Our contract with the employer focuses on constantly getting higher wages when everyone i know could give a hoot about that we want things like paid days off or more affordable benefits but the bottom line is the union wants more money from your dues and they will keep getting you higher wages so they can keep skimming more money from your check and that is the be all end all with unions.
    I've been there as well. And some of the perks were ridiculous. In 1988 I left GM because I knew they were in trouble, just took longer then I thought and I never dreamed they would be bailed out. I was skilled trades and it was the easiest and most generous job I ever had. When I left there I went to a non union plant, they handed me a volt meter and told me I had both the night shifts, could only work 8hrs and was on call the remainder of the time, I lived 50 miles away. I made 25% less and had co-pay insurance but it was the best job I ever had. Six years later this company got bought out and relocated so I took another union job closer to home, better pay and benefits, and half as much work. This place was on 12hr shifts and if you sat down and figured it out, with all of your sick days and vacation you only had to work about 160 days a year. Not too surprising that this company (auto supplier) only lasted another 13 years.
    "Treasure is wherever it can be found."

  5. #20
    us
    manaloneblog.wordpress.com

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    I just don't know how the middle class can be saved? And yet it has to be saved/stabilized or this country is really screwed.
    "Treasure is wherever it can be found."

  6. #21
    us
    manaloneblog.wordpress.com

    Jun 2010
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    Quote Originally Posted by onfire View Post
    Seems to me Hostess was brought out of bankruptcy by a investment firm to try to turn it around, Now I'm sure they had put in some serious cash to do this. With a threat of a labor strike I'm sure they gave each other their investment plus interest in there raises. Usually company's like these are there to make profits. The days of working for Mom and Pops places who took care of their workers are gone. Well I guess the union can say "WE WON"
    I guess I'm looking at in a different light. Seems to me, more and more often, the lines are being drawn in the sand between the middle class and the wealthy. The wealthy can't survive without the middle class. The middle class can't survive without the wealthy. Clearly both sides lost in this ordeal. The middle class feel it right away, the wealthy will start feeling it on down the road as their consumer base continues to dwindle. The country will start feeling it as both the wealthy and the middle class diminish.
    "Treasure is wherever it can be found."

  7. #22
    us
    Jun 2012
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    Long Time Treasurenet Member.... Formerly Known As: "Cap N' Crunch"

  8. #23

    Nov 2007
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    used to be the owners of a company had a stake in it, the city and country it was in and actually knew what they produced. Since globalization came to fore the money changers have taken sway. I think it works like this; borrow money to buy a company, pay new owners dividends (called dividend recapitalization), borrow more money against assets of corporation, pay new owners bonuses for being so smart. Shed employees, call for pay cuts for remaining employees, pay owners bonuses for meeting short term profitibility goals, underfund pension plan and push off on Pension Guarantee Fund (allows for taxpayer funding of obligation) pay owners bonuses cause it's August 11, Close plant, divy up what's left and look for another profitable business to harvest.
    Tied in with another thread this could be the cause of civil unrest. But what would I know?
    the bone likes this.
    when you tug on a single thing in nature, you'll find it's connected to the rest of the world. John muir

  9. #24
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    us
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    Remember we are primarily a Treasure site, as per our rules please keep the politics out of the thread, if your post disappears it is because it violated one or more of our rules........
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  10. #25

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    Snack cakes are not a necessity, so when all your extra money goes for gasoline, you have to cut out the extras.

    Look at all the restaurants that have shut down in the last few years, people don't have extra money to spend.

    To get the economy started again, all we have to do is drop gas and diesel to $ 1.50 a gallon, and stand back.

    perhaps Exxon could only post a $10 billion gain next quarter.
    Chadeaux and Frankn like this.
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  11. #26
    us
    Tribal Member of United Houma Nation -

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    Quote Originally Posted by Gold Maven View Post
    Snack cakes are not a necessity, so when all your extra money goes for gasoline, you have to cut out the extras.

    Look at all the restaurants that have shut down in the last few years, people don't have extra money to spend.

    To get the economy started again, all we have to do is drop gas and diesel to $ 1.50 a gallon, and stand back.

    perhaps Exxon could only post a $10 billion gain next quarter.
    "When under trial, let no one say: 'I am being tried by God.' For with evil things God cannot be tried, nor does he himself try anyone. . . . Do not be misled, my beloved brothers. Every good gift and every perfect present is from above, coming down from the Father of the celestial lights, who does not vary or change like the shifting shadows." --- James 1:13, 16, 17

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  12. #27
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    us
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    The Truth
    To get the economy started again, all we have to do is drop gas and diesel to $ 1.50 a gallon, and stand back.

    perhaps Exxon could only post a $10 billion gain next quarter.
    What should really happen is that everybody should stop buying fuel all together for a day or two and show the companies what a little solidarity
    can do, but we all know that isnt going to happen.Everybody is to self important to want to stick together and to busy thinking of themselves to learn how to stick together.Boycott the greedy S.O.B.s.

  13. #28

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    Quote Originally Posted by Red James cash View Post

    Conclusion

    It is easy to blame the death of Hostess on labor unions, but the reality is that the company was probably going down regardless. But take heart America, Hostess' popular brands like Twinkie surely will be sold off as part of the bankruptcy. The Twinkie will still be on American store shelves in the future, just made by a better run company.
    Interesting story written by a union supporter

    Of course they were in trouble, but labor unions pushed them over the edge.
    I doubt a strike would have ever happened if not pushed for by the union.

    I'd say most of the workers probably would have taken cuts rather then loose their Jobs
    if they had a choice, & without a Union their take home may have still been higher without having to support the union
    the bone and truckinbutch like this.

  14. #29
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  15. #30
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    Having worked for a union for over 16 years I will say they have their good and bad points, and the good far outweighed the bad. ( haven't worked union for 30 years )

    Unions did a lot for the American worker, with out them we would all still be working mandatory 60 hour work weeks, in unsafe conditions for low wages, no holidays and no insurance.

    Bad points are some unions got greedy and did not always have their members best inteterest in mind.
    PLEASE READ OUR RULES. CLICK HERE TO READ ------> TreasureNet.com Rules

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    "A well regulated Militia, being necessary to the security of a free State, the right of the people to keep and bear Arms, shall not be infringed"

    Si vis pacem, para bellum "If you want peace, prepare for war!

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    I do solemnly swear (or affirm) that I will support and defend the Constitution of the United States against all enemies, foreign and domestic..."

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