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Twinkies Triumphant but Jobs Lost
August 22, 2013 -
While the Twinkies are back, the jobs are not. The Hostess Bakery Company, as many others before, was subjected to takeover by vulture capitalists and mortgaged to the hilt. (See TwinkiesThe Sweetest Comeback in the History of Ever, Messenger, Vol. 37, No. 16, August 8, 2013.) Then, due to the debt payments, while the new owners lavished money and perks on themselves, the workers were asked over and over again to take pay and benefit cuts. When it became obvious that these cuts would continue, the workers went on strike. The owners then broke up the company, eliminated those pesky workers, sold the pieces and made lots of money. The Twinkie and Wonder Bread, two "non-food" foods which provide empty calories and no real nutrition, were saved.
It would have been better if the jobs were saved. This is our new America if we don't take action.