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"Example of a Bain Capital/Tony Soprano-style bleed the company to death" |
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Message Replied To ========== Not certain it's goodbye to the Hostess brands. "In addition to dozens of baking and distribution facilities around the country, Hostess Brands will sell its popular brands, including Hostess®, Drakes® and Dolly Madison®, which make iconic cake products such as Twinkies®, CupCakes, Ding Dongs®, Ho Ho's®, Sno Balls® and Donettes®. Bread brands to be sold include Wonder®, Nature's Pride ®, Merita®, Home Pride®, Butternut®, and Beefsteak®, among others." * From the press release, it looks like they will sell the assets. Chances are, the brands will just be owned by someone else. Probably non-union.============================== Interesting that none of those who claim to know business have pointed out the poor business practices. The union made millions in concessions several years ago, plus the hedge fund owners capitalized the assets, but failed to use the money on new equipment and other steps to modernize. When the vultures cut pay and benefits by 30% to squeeze out a few more bucks before shutting down the company, the employees said enough. The owners leave this mess with millions, the workers refused to give them more. It's sad, but it reflects well on workers who refuse to give in. THIS sort of practice is why Romney and his posse weren't trusted by voters. For the oblivious guy who couldn't understand why black voters were against Romney, here's one more example. Some black voters found it easier to see themselves as VICTIMS of Romney-style business practices than perpetrators. |
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-- Starred by: Beachmaster JimG8R gatorlaw71 Jethro 3rdWardGator GatorJamie --
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