Friday, November 16, 2012

Hostess Goes Down: Daily Kos Blames Corporate Greed and Mitt Romney-Style Liquidation

Well, you better munch down your last Twinkies treats, because Hostess and Wonder Bread are going down, largely because big labor bosses refused union concessions.

The Wall Street Journal has the main story, "Twinkie Maker Hostess to Close." (At Memeorandum.)

But check the extreme left Daily Kos for the "workers'" perspective, "Private equity-owned Hostess blames striking workers as it liquidates":

Kill Hostess
This is a Mitt Romney-style deal. Throughout the campaign, we read about Romney's past deals that went very much like what's happening to Hostess. Now we're watching it in real time—and seeing how when workers fight back, they're targeted for blame.
The socialists will always blame capital, but as WSJ reports, the overall business climate had turned against the company, and big labor's hammering the nails in the coffin. Geoffrey Norman has more at the Weekly Standard, "Taking Ourselves Hostage":
Hostess is the maker of, among other things, Twinkies, a snack food that consists of doughy yellow cake wrapped around some sort of gooey filling. The sort of thing, in other words, to give nutritionists heart attacks when they merely think about it. The Twinkie, though, had its followers. Now, they have lost their small, sinful pleasure and some 18,500 employees of the company will be out of work. The whole thing recalls the scene in Blazing Saddles where the sheriff takes a hostage – himself – whom he threatens to kill unless his demands are met.

Something like what is going on in Washington, where the people who created the "fiscal cliff" are now threatening to take the country over the edge.

BONUS: At Business Week, "Wal-Mart Workers' Black Friday Strike."