Vulture capitalists took over Hostess and borrowed 450 million against Hostess - not against the hedge funds who owned Hostess. Some of the plants had production machinery that was built in the 1920's. We might assume that investment in equipment, long before now, might have increased efficiency and profit. The hedge fund owners then asked the union to kick in 100 million. They did. Mismanagement continued, Hostess continued to dive. The hedge fund held owners then asked for more concessions from the union, which included salary reductions and loss of retirement benefits. Management including the CEO awarded themselves huge salary increases. There is no record how much the hedge fund owners took out of the company compared to how much they put in. It is reported that they covered their investment and made money, but not as much as they had hoped as they sucked the company dry and milked the workers for everything they could.