Random Access Memories

November 16, 2012

Farewell to Hostess

by @ 11:19 am. Filed under Personal

For those of you not following labor/politics/business/bad junk food, etc. Hostess is going out of business.

The CEO blames the strike, making labor the big bad bully.

But let’s look at the facts shall we? The workers were told to take a pay cut at the same time the CEO got a 300% salary increase. Now they close the doors, and guess who is certain to still keep their huge salary package? Definitely not the lowly workers at the bottom.

Let’s look at the Hostess CEO Gregory F. Rayburn shall we? Exactly what experience does he have in baking? None. Perhaps experience in retail? Zero. His background is in liquidating companies. Wow, perhaps he was not the best choice for the job.

“What’s happening with Hostess Brands is a microcosm of what’s wrong with America, as Bain-style Wall Street vultures make themselves rich by making America poor,” AFL-CIO President Richard Trumka said in a public statement. “Crony capitalism and consistently poor management drove Hostess into the ground, but its workers are paying the price.”

It’s a shame when a few people can screw over 18,000 by destroying what was once a stable business.

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