[quote=flu]
The problem is cost….It always is…A lot of people don’t get that…Well, I guess those unemployed ex-twinkies people have a better thing lined up now… Good for them.
I’m still betting money a multinational will pick them up… Like nestle..Or some overseas company…The key is the brand and the recipes….[/quote]
Some of those ex-twinkie people probably do. I just read a story about one of them in KS. He worked for them for many years used to make $48K a year, but after a couple bankruptcies, his last pay rate put him down to $34K a year. About a year ago, $3 an hour of money that used to get deducted from his pay for his pension, got loaned to the company. Mandatory. And now it’s gone. Won’t be paid back. The new offer was an additional 8% pay cut, with an additional 27% pay cut over the next 5 years. Doubling the cost of his medical insurance with worse insurance. Elimination of all company paid retirement benefits. So over about 10 years, he’d go from $48K with good benefits, to $23,400 a year with almost no benefits.
His conclusion is that it will be pretty hard to replace the job he had. The one that paid him $4K a month plus benefits. But replace the $11.26 an hour with no benefits that they were offering? Not so much.
Oh, and over the last 10 years, the 6 CEO’s and other top management got big raises. Each one failed and each new one got paid more than the previous failed CEO. When this bankruptcy was filed, most got 300% raises.
