Here from 2 of our very own WI blogs:
1. Kevin Binversie wrote this(emphasis mine):
possible suitors for the brands of Hostess are already circling readying their builds after the company’s 3,000 union bakers sank the other 15,000 employees last week.
2. Owen from the Boots & Saber blog(which is just a generic parody of the Boots & Kittens blog), had this to say?
Nice work, bakers union. You just cost 18,000 people their jobs.
The problem with both of their blogs(besides being boring) are just flat out untrue. Far be it for anyone on the right to do any actual research on a topic,so let me give them a freebie.
The actual reason that Hostess went bankrupt was ...(Drum roll please) Mismanagement!!
According to a report by the Wall Street Journal , Hostess’ CEO, Gregory Rayburn, essentially admitted that his company stole employee pension money and put it toward CEO and senior executive pay (aka “operations”). While this isn't technically illegal, it's another sleazy theft by Hostess executives - who've paid themselves handsomely while running their company into the ground. Just last month, a judge agreed to let Hostess executives suck another $1.8 million out of the bankrupt company to pay bonuses to CEOs.
That damm union, allowing the executives to steal money from the company like that! I wonder if it was the collective bargaining agreement that let the executives keep cashing out! If only the unions had agreed to even MORE concession, then maybe the executives could have had a real Merry Christmas!
So boys & girls, the moral of the story is:
Never believe a word you read on the right wing blogosphere!
PSS: Do not hold your breath waiting for a retraction or correction.