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HiPointDem

(20,729 posts)

6. pretty much deliberately. hostess made $23 million in profits in 2003. In 2004

Reply to closeupready (Reply #3)

Fri Nov 16, 2012, 05:36 PM

Nov 2012

they took the corp into bankruptcy, loaded it up with debt, and its been bleeding massively ever since, even though management got raises, workers got the shaft and the product got degraded.

yep, deliberately.

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Looting: The Underworld of Bankruptcy for Profit [View all] HiPointDem Nov 2012 OP

kick HiPointDem Nov 2012 #1

aka Vulture Capitalism notadmblnd Nov 2012 #2

Worse - taking viable companies into insolvency, closeupready Nov 2012 #3

It sounds like what Mitt Romney referred to as "harvesting" notadmblnd Nov 2012 #4

pretty much deliberately. hostess made $23 million in profits in 2003. In 2004 HiPointDem Nov 2012 #6

a tactic of same. but capitalism always uses vulture tactics where appropriate. HiPointDem Nov 2012 #5

k&r Starry Messenger Nov 2012 #7

The investment resale spiral Spike89 Nov 2012 #8

thank you for that. "as much as $1 billion in profits had been pulled out of the business" HiPointDem Nov 2012 #9