No surprise, really. An article in the Abqjournal about Hostess’ bankruptcy blames the union 100% and makes NO mention of recent HUGE increases in executive compensation. The apparently incompetent CEO walks with a small fortune.

ABQJournal Online » Workers’ Strike Proves Fatal to Hostess

By Journal Staff on Fri, Nov 16, 2012

Hostess Brands Inc. says it’s going out of business – and eliminating 18,500 jobs – after striking workers across the country crippled its ability to make its Twinkies, Ding Dongs and other snacks.

The move will also result in the closure of a contract Albuquerque distributing company, putting 27 local drivers, merchandisers and other employees out of work.

ABQJournal Online » Workers’ Strike Proves Fatal to Hostess

Hostess Blames Union For Bankruptcy After Tripling CEO’s Pay | ThinkProgress

while headlines have been quick to blame unions for the downfall of the company there’s actually more to the story: While the company was filing for bankruptcy, for the second time, earlier this year, it actually tripled its CEO’s pay, and increased other executives’ compensation by as much as 80 percent.

At the time, creditors warned that the decision signaled an attempt to “sidestep” bankruptcy rules, potentially as a means for trying to keep the executive at a failing company. The Confectionery, Tobacco Workers & Grain Millers International Union pointed this out in their written reaction to the news that the business is closing:

BCTGM members are well aware that as the company was preparing to file for bankruptcy earlier this year, the then CEO of Hostess was awarded a 300 percent raise (from approximately $750,000 to $2,550,000) and at least nine other top executives of the company received massive pay raises. One such executive received a pay increase from $500,000 to $900,000 and another received one taking his salary from $375,000 to $656,256.

Hostess Blames Union For Bankruptcy After Tripling CEO’s Pay | ThinkProgress