Local politics, the county, and the world, as viewed by Tammy Maygra
Tammy's views are her own, and do not necessarily reflect the views of Bill Eagle, his pastor, Tammy's neighbors, Earl Fisher, Betsy Johnson, Joe Corsiglia, President Obama, Tony Hyde, Pat Robertson, Debi Corsiglia's dog, or Claudia Eagle's Cats. This Tammy's Take (with the exception of this disclaimer) is not paid for or written by, or reviewed by anyone but Tammy and she won't take crap off of anyone.

Hostess claims that because of the unions the company has been down a money losing path and now the company will shut down. 18500 people will lose their jobs with the demise of the desert company. Although many of the CEO's gave themselves a 300% raise this past year while they were filing for bankruptcy. The unions offered to reduce wages and benefit which amounted to over $110 million which was not invested back into the company. Even with the evidence the unions were not to blame for the company's problems Because the union workers are not willing to take excessive wage and benefit cuts on top of the substantial concessions they made in 2004 and give up their pension so that the Wall Street vulture capitalists in control of this company can walk away with millions of dollars."

Evidence shows that the CEO's were receiving huge raises, evidence proves that the company was mismanaged with a supervisor for every worker., evidence shows simply that it was the CEO's who were the problem for the company over the past several years, yet they are still trying to blame the workers for their failure.
Hostess is now owned by a group of investment firms including hedge funds Silver Point Capital and Monarch Alternative Capital. These vultures care nothing for a business and its workers all they care about is making millions off their ventures. The teamster union voted to make greater wage and benefit concessions but the greedy Wall Street vultures did not consider this vote nor would they ever consider working with the union workers. All they want to do is to sell off the assets and make a fortune. This was their plan all the time. They are using the union workers as a scapegoat for their pre-planned decisions.
The whole problem is companies want to always make the most profit that they can at the cost of its own best interest. Why couldn't this company work with the unions and remain solvent? Answer because they did not want to and was not going to no matter what. Why didn't they make sure that they were not too top heavy? The answers are simple the CEO's had made a cushion for themselves and will likely move on to another job like the one they are leaving. You have to get rich as fast as you can and any way you can and not worry about the workers in these companies. This belief is a selfish attitude, which is the norm today and seems to be the trend for this period of time.

These kinds of scenarios are happening all across America when Wall Street hedge fund vultures take over companies. Corporate America has been and is still on a collaborative mission to destroy all unions and they are succeeding in their mission. It may take them years but they have been slowly and steadily achieving their goal. You can cut and dice things up any way you wish but the bottom line is hedge funds are all about making money from a company's troubles. Disaster and devastation always lie in a hedge funds wake.
The rest of America needs to wake up; your company may be next. We need to put a stop on hedge funds and the way they do business. We need to put in place some very serious restrictions on them and the way they do their monkey business.