Going Galt and the Neo-Comms Posted By: NoisyRoom 11/18/2012 2:09:23 PM NoisyRoom, by Terresa Monroe-Hamilton Original Article
The day came last week, that I never would have dreamed would come about. Hostess (founded in 1930) went Galt and shut down laying off 18,500. Hostess had been going through severe financial challenges, so renegotiations with the unions was no surprise. They had already been through bankruptcy and restructuring twice before, I believe. They were dealing with twelve unions and had even brokered a deal with the Teamsters. They offered the unions a 25% stake in the company, seats on their Board of Directors and 100 million in debt. All they asked for was an 8% cut in wages.