Hostess Shrugged: Going Galt In The Face of Neo-Comms
From Noisy Room:
The day came last week, that I never would have dreamed would come about. Hostess (founded in 1930) went Galt and shut down laying off 18,500. Hostess had been going through severe financial challenges, so renegotiations with the unions was no surprise. They had already been through bankruptcy and restructuring twice before, I believe. They were dealing with twelve unions and had even brokered a deal with the Teamsters. They offered the unions a 25% stake in the company, seats on their Board of Directors and 100 million in debt. All they asked for was an 8% cut in wages. The Baker’s Union would have none of it, so now they get a 100% cut in wages. Ding Dong, the Twinkies are dead.GO READ THE WHOLE THING.