Comments for No Cupcake: Workers Turn Down Bad Deal from Hostess at http://www.cepr.net , comment 1 to 7 out of 7 comments http://www.cepr.net Mon, 20 May 2013 22:40:47 +0100 FeedCreator 1.7.3 http://www.cepr.net/index.php/blogs/cepr-blog/no-cupcake-workers-turn-down-bad-deal-from-hostess#comment-20294 If the union's concessions were used to provide CEO and management with raises, rather than helping the company, then why aren't the CEO and management being prosecuted? - Mad Hemingway Sun, 25 Nov 2012 09:26:42 +0100 http://www.cepr.net/index.php/blogs/cepr-blog/no-cupcake-workers-turn-down-bad-deal-from-hostess#comment-20201 Was the Twinkie "Bained?" If we peel off the wrapper there are many more aspects to the Hostess situation that warrant attention. One of the more fascinating things revealed during the election was the particular approach, call it financial extraction, used by Bain and its ilk. Hostess Brands, Inc. is majority owned by private equity firm Ripplewood Holdings. As you noted, Hostess has a mountain of debt yet somehow it's the Bakers union's fault the company and its high profile brands are now being sold off to the highest bidder. Hmmmm. I'm very curious to know just how much in dividends and management fees Ripplewood has raked in since 2004. Is the strike just an excuse to sell off the firm's brands as an exit strategy? Sounds to me like the Twinkie got "Bained." I hope there's an inquisitive journalist out there right now working on that story. - Bob Mon, 19 Nov 2012 00:06:46 +0100 http://www.cepr.net/index.php/blogs/cepr-blog/no-cupcake-workers-turn-down-bad-deal-from-hostess#comment-20183 They took pay cuts. They took concession after concession. The article says even if they took a pay cut they would still get laid off.... 2.25 million a year for the CEO. Hmmm where is the problem here. - Fitter420 Sat, 17 Nov 2012 03:19:09 +0100 http://www.cepr.net/index.php/blogs/cepr-blog/no-cupcake-workers-turn-down-bad-deal-from-hostess#comment-20182 This is the second time that the company has declared bankruptcy, before, about 2002, the company tried to convince the court to let them desolve. Since then, when the contracts with the suppliers were declared worth 10 cents on the dollar, the company has tried to quit the business. The unions did not cooperate. they fought for their jobs, by taking wage cuts, The unions make less then half what they did in 2002. So management declared they would kill the benifits, they did. No pension, reduced work hours, reduced the size of the product, charged more for the product, did all the right things to kill the4 business. Remember this management group, is a goldmanSacks(not a misspell)morganStanley type management group, by the company, saddle it with impossible debit, and sell off the pieces type company. After claiming they were there to not do that. So if you see a management group take over a company, not invest in upgrading the employees, or the facilities, get out fast before they kill your company. - Jim Sat, 17 Nov 2012 03:10:54 +0100 http://www.cepr.net/index.php/blogs/cepr-blog/no-cupcake-workers-turn-down-bad-deal-from-hostess#comment-20180 if i worked there and my choice was less money or no job, i would choose less money. if i wasn't happy with the management handling of the situation or their rewarding themselves or the pension than i should have long gone from there having since 2008 to make a choice - and with all of the job creation obama has done it should have been easy to find another job. - jess Fri, 16 Nov 2012 13:48:11 +0100 http://www.cepr.net/index.php/blogs/cepr-blog/no-cupcake-workers-turn-down-bad-deal-from-hostess#comment-20179 The unions should pool their money and buy the company outright, then all the workers would be owners and they could make the decisions.. - nix Fri, 16 Nov 2012 12:56:37 +0100 http://www.cepr.net/index.php/blogs/cepr-blog/no-cupcake-workers-turn-down-bad-deal-from-hostess#comment-20178 That the executives were asking for concessions from employees while stuffing their pockets with cash. I wouldn't be surprised if there is a WS buyer ready in the background to buy up the Hostess assets -- the main sticking point to a deal was the unions, and they've now been crushed with this liquidation. - Brett Fri, 16 Nov 2012 11:45:03 +0100