We are talking about the here and now. This management is not to blame.
The Union and it's members are.
From the link in the OP.
This particular Union wanted this to happen.
2NEWS also spoke with Fred Frierson, a business agent for the Bakery, Confectionery, Tobacco Workers and Grain Millers International Union, which represents Hostess employees.
"If they liquidate, we feel like we could get a better deal with the new people that come in," he said. "Somebody's going to buy it. Somebody's going to pick that volume up that's out there, and we feel like we will be able to come up with a better deal than we've got now."
From the link Maggie provided.
Hostess said the union chose not to negotiate on the bankruptcy court-approved contract earlier this year. It said union leadership was “giving its members a false sense of hope that a buyer would purchase the company if it liquidated.”Hostess assesses possible liquidation as two sides trade barbs - KansasCity.com
approximately 1/3 of the total work force = 6,167 employees
6,167 employees x $720 = $ 44,400,240 a WEEK in wages.
On the other hand, $895/hour x 40 hours = $35,800 a week, or about 0.08% of the total union labor salary.
Had the unions accepted the average $2/hr decrease in pay, the company would have saved $493,360 a week in wages, plus the additional savings in benefits. Significantly MORE than the cost of the 1 financial analyst they've asked to retain as they liquidate (a person they would sorely need for the process, I'd imagine).
"Hmmm...Can't decide if I want to watch "Four Houses" or give myself an Icy Hot pee hole enema..." - Blake Shelton
Look, the Union is dumb here, but certainly mismanagement over the last decade or more seems to me to have more to do with their problems than a Union. Why let that get in the way of a good old-fashioned DP union-bash fest.
"What your suggesting is that no company should ever go into bankruptcy. And if it does it's managements fault. That is as naive as it gets. One little example, you have one union shop competing with a nonunion shop with lower wages who's going to win? You have dumbass union workers that don't want to work with management so that company can compete, so the company is forced into bankruptcy. And how stupid is the union, they are now all out of work for good. And the new buyer picking up the pieces will not be union, that you can go to the bank with. Goodby more unions shops."
Liberals - Punish the Successful, Reward the Unsuccessful
Liberals - Tax, Borrow, Spend, and Give Free Stuff
Obama's legacy - National Debt / Credit Downgrade / Obamacare Failure / Economic Failure / Foreign Policy Failure / Liar of the Year Award / The Rise of ISIS
Next Twinkie Maker: Will A Mexican Billionaire Family Buy Hostess' Orphaned Brands? - Forbes
This will of course completely cut the union out. Those 18,000 jobs, mostly non-union, are dead and gone as far as US workers are concerned. All that's left for union supporters to do is point fingers.
And this leaves the senior managment without jobs, too. I don't know how much more sincere they can get about it.
“We do not believe any group of men adequate enough or wise enough to operate without scrutiny or without criticism. We know that the only way to avoid error is to detect it, that the only way to detect it is to be free to inquire. We know that in secrecy error undetected will flourish and subvert”. – J Robert Oppenheimer.