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Hostess proposed an across-the-board pay cut of about 8%, a bump of 3% over the next three years, and a 1% bump in the final (among other things). I highly doubt Hostess is closing factories merely to get out of union contracts. Hostess first went to bankruptcy court back in 2004. This is just the icing on the Ho Ho.

Oh, I agree. It's mismanagement across many years. Of course, those bad managers have received millions in compensation, which I find more than a little distasteful. And, I'll find it even more distasteful, if they pick up the reins at the new company when Twinkies and Ho Hos go back into production.

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