Quote Originally Posted by wallstreetcappers:
Not to the ratio we have ballooned to as a society.
To answer your earlier comment..do you think the union workers didnt take package cuts several times to try and save the company?
You need to bone up on the subject before running off like this..it makes you look a bit foolish.
And no, America is not built off a massive chasm between the bosses and the workers..that is what we have now and it is disgusting.
The more middle class jobs that get shut and replaced with low paying, low benefit crap jobs, the greater the reliance on the government is and the faster we gut the MAJORITY of citizens in this country.
Read up on this company and see the history..
https://money.cnn.com/2012/11/16/news/companies/hostess-closing/index.html
Some highlights......
Frank Hurt, president of the bakers' union, called the liquidation "a deep disappointment" but said his members weren't the ones responsible, blaming the various management teams in place at Hostess over the past eight years for failing to turn the firm around.
"Our members decided they were not going to take any more abuse from a company they have given so much to for so many years," Hurt said in a statement late Friday. "They decided that they were not going to agree to another round of outrageous wage and benefit cuts and give up their pension only to see yet another management team fail and Wall Street vulture capitalists and 'restructuring specialists' walk away with untold millions of dollars."
In September, membership of one of its major unions, the International Brotherhood of Teamsters, voted narrowly to accept a new contract with reduced wages and benefits. The Bakers' union rejected the deal, however, prompting Hostess management to secure permission from a bankruptcy court to force a new concession contract on workers.
The Teamsters union, which represents 6,700 Hostess workers, issued a statement blaming mismanagement by Hostess executives for the company's problems. But it also was critical of the decision of Bakers' union, although it did not identify the union by name
The new contract cut salaries across the company by 8% in the first year of the five-year agreement. Salaries were then scheduled to bump up 3% in the next three years and 1% in the final year.
Hostess also reduced its pension obligations and its contribution to the employees' health care plan. In exchange, the company offered concessions, including a 25% equity stake for workers and the inclusion of two union representatives on an eight-member board of directors.
Nope. I vote we strike ourselves right out of a job in a bad economy. 
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