Originally Posted by saptech
Interesting. How can they just go on strike suddenly and the company is going bankrupt. They have been going under all along, probably from the top execs skimming.
I read a news article that stated that Hostess has filed for bankruptcy twice since the early 2000's. It looks like they're throwing in the towel, now.
So the blame can't rest squarely on the unions (specifically the Bakers' union) as it sounds like this company hasn't been managed effectively. Although the unions are going to get the most of the blame, and maybe unjustly so. I'm sure the top execs gave themselves very large bonuses and pay raises. But the unions did ask for too much. So it was a case of mutually assured destruction and greed rules the day.