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- Mar 11, 2009
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"The bakery union workers have already given leadership the right to strike. ... 1 month before filing bankruptcy this company gave ALL upper management a HUGE pay raise and ... paying into the pension and yet have KEPT that 3.40 an hour and out it in their pockets."I couldn't find the link to verify this, but I had remembered reading it yesterday. Upper management tripled its pay. The union paid $3.40 per hour, $136 per week back to the company and the company kept the money and that is a lot of money. There's two sides to this story. It was taken over by Bain Capital type vulture capitalists and milked of its assets and that's just good business, eh?Here's the link BCTGM Strike Vote Wednesday | emporiagazette.com
In your article I see where Hostess stopped contributing the $3.40 to the pension fund, but did not see your assertion as stated here:
1 month before filing bankruptcy this company gave ALL upper management a HUGE pay raise and ... paying into the pension and yet have KEPT that 3.40 an hour and out it in their pockets.
This would seem to be a pretty nefarious assumption on your part. Can you clear that up for me?