Statement by AFL-CIO President Richard Trumka on Hostess Brands Inc.
For Immediate Release Contact: Josh Goldstein, 202-637-5018
Statement by AFL-CIO President Richard Trumka
on Hostess Brands Inc.
November 16, 2012
Whatís happening with Hostess Brands is a microcosm of whatís wrong with America, as Bain-style Wall Street vultures make themselves rich by making America poor. Crony capitalism and consistently poor management drove Hostess into the ground, but its workers are paying the price. These workers, who consistently make great products Americans love and have offered multiple concessions, want their company to succeed. They have bravely taken a stand against the corporate race-to-the-bottom. And now they and their communities are suffering the tragedy of a needless layoff. This is wrong. It has to stop. Itís wrecking America.
1. We need to start taking over these closed companies/factories.........
and SOMEHOW turning them into worker owned and ran co-ops in direct competition with the slugs that shut them down. Without having to pay that "executive" compensation, you would think that you might could cut a better deal to retailers.