I wasn't aware of some of this stuff:
The latest dispute with the bakers' union started in August 2011 when the company stopped making contributions to their pension plan and froze it. The union filed suit to recover the $3.40 an hour employees were contributing to that pension plan that the company failed to contribute. $136.00 a week!! That money was lost.
During the re-structuring in 2009, the employees were asked to "give back" $10 a week to help the company re-organize. They did so. They also gave up some entitlements at this time.
While some point out that Hostess was able to negotiate the Teamster's contract, what isn't widely known is that the company gave a 25% equity stake to the union in return for their concessions. No such deal was offered the bakers' union.
Several years ago, top management gave themselves HUGE raises several years ago. The CEO who engineered that has now left the company, and the present CEO got three of the top executives to agree to $1 a year until they were out of bankruptcy. That was a good thing; but not before executives had raided the company.
Hostess deserved to go out of the business. The bakers' union employees are out of jobs, but this is, in my opinion, an unethical company who's finally getting what it deserves.
The Winfield Daily Courier > Opinion > Staff Commentary
How the bankruptcy judge could allow the company to KEEP the $3.40 an hour the employees donated to their own pension funds is absolutely beyond me.
Does this change your opinion of the strike? It changes mine...