|Twinkie the Kid, a Hostess mascot, as interpreted by Fortune|
Actually, it's amazing that Hostess Brands lasted this long with such unhealthful products as Ding Dongs, Sno Balls, Ho Ho's, Twinkies and Wonder bread.
The company's honchos said they had no choice but to close the troubled company because the greedy union would not agree to deep cuts to pay and benefits for the 18,500 employees.
Yes, blame the unions again.
It's an argument that resonates throughout the country. Consequently, less than 12 percent of American workers belong to a union. If union membership dwindled to less than 1 percent of the workforce, America corporations would still have a reliable scapegoat.
Yet, the real story has not emerged in the mainstream media.
Check out this story about how Hostess executives enriched themselves as the ship was sinking:
"As the company was preparing to file for bankruptcy earlier this year, the then CEO of Hostess was awarded a 300 percent raise (from approximately $750,000 to $2,550,000) and at least nine other top executives of the company received massive pay raises. One such executive received a pay increase from $500,000 to $900,000 and another received one taking his salary from $375,000 to $656,256."
Obviously, Hostess was a poorly managed company, with or without unions.
And, in classic American fashion, we cheer the executives who looted the store before they closed the business while blaming the rank-and-file worker.