Saturday, November 17, 2012

Hostess Bankruptcy

While management tries to blame Hostess' bankruptcy on the bakers' union strike, it appears that CEO pay at the food company tripled in the past year. This looks like a case where management wasn't running the company as a good-faith business enterprise at the end. They were just trying to plunder the company on its way down. Irritating the workers and provoking a strike was just a ploy to blame the bankruptcy on someone else.

It appears that some of the company's major brands might be bought by Mexican conglomerate Grupo Bimbo. I wonder whether Ho Hos will make the transition from Hostess to Bimbo.
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