The Motley Fool Discussion Boards
Investment Analysis Clubs / Macro Economic Trends and Risks
|Subject: Re: No more Twinkies!||Date: 11/16/2012 8:46 PM|
|Author: steve203||Number: 408741 of 467295|
In this case, the workers will have to settle for unemployment insurance rather than the wages they demanded.
Tonight the CBS News covered this story, including a reporter talking to a worker on the picket line at the Seattle plant.
reporter: "why put yourselfs out of work"
worker, who had worked there 37 years: by the time they took away the pension, cut pay and charged more for health insurance, we would be making about minimum wage
Here's the report
Given that Hostess was controlled by a couple hedge funds, there could be more here than meets the eye: like knowingly putting the company out of business, so the brands could be sold for a quick buck, without the baggage of actual pysical assets and without an existing workforce.
|Copyright 1996-2015 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|