Editorial
Investors.com
2/22/2013
Who says intransigence doesn’t pay? After driving Hostess out of business by refusing to negotiate, union bakers have been rewarded by the White House with Trade Adjustment Assistance. It’s all the foreigners’ fault.
Last November, Hostess Brands went into liquidation, throwing 18,500 employees out of their jobs. The baking giant had been through two restructurings, but the company remained unprofitable.
All the same, most workers at the bread and pastry maker, famous for its Twinkies and Ho Hos snack cakes, were willing to tighten their belts until good times returned.
They included hard-line unions, such as the Teamsters, not known for making concessions.
But there was one exception: the AFL-CIO-affiliated Bakery, Confectionery, Tobacco Workers & Grain Millers International (BCTGM).
It refused to deal, taking the entire company, including fellow workers, down with it.
Turns out the union knew exactly what it was doing…
The editorial continues at Investors.com
