Trump World Grab-Bag--A Collection

Thursday, December 13, 2012

This is How Working People Get Screwed--Hostess-Style

So, this is a nice ball of suck for people who worked for Hostess Brands, Inc:



Hostess Brands Inc. said it used wages that were supposed to help fund employee pensions for the company's operations as it sank toward bankruptcy. 
It isn't clear how many of the Irving, Texas, company's workers were affected by the move or how much money never wound up in their pension plans as promised. 
After the company said in August 2011 that it would stop making pension contributions, the foregone wages weren't put toward the pension. Nor were they restored. 
The maker of Twinkies, Ho-Hos and Wonder Bread filed for bankruptcy protection in January and shut down last month following a strike by one of the unions representing Hostess workers. A judge is overseeing the sale of company assets.

For those who still want to blame the unions--it wasn't that the unions demanded exorbitant, lush pensions--oh hell, no. The scheme was actually that Hostess workers deferred pay raises on the understanding that money was going into the pension fund.  It just wasn't.

Surely there will be some people who read about how management still paid themselves bonuses while the company was failing, and want to blame union thuggery for thinking that the ability of a oompany to fulfill promised obligation to the people who do the work meant anything. Shouldn't they have baked for the love of cake, and not promised compensation?

The people who would say this do not understand their Class War.


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