Saturday, November 17, 2012

Hello, All.  I have gotten quite a bit about the Hostess bankruptcy and the associated workers' strike.  This Forbes article validates some of my suspicions on the issues.  I have wondered since this economic downturn began when someone would realize what shitty deal workers have been getting.  With each new cycle of bankruptcy which yielded wage cuts and shredded benefits, I wondered when people would decide that the meager something they were left with was indistinguishable from nothing.  The article also suggest that the Bain strategy (buying a company with borrowed money, transferring the debt to the company while charging exorbitant fees for their 'services,' selling off assets making the company even less able to make a profit and then shutting down) has infected the larger economy.  We have a cannibalistic economy.  Bain never really 'created' anything--not jobs, not product, nothing.  It simply gobbled up companies but each new meal for Bain and its ilk means the larger economy is starved.  Know what happens to a human body that is starved?  It starts breaking down its own tissues--until it dies.

This piece from Undernews is interesting.  In the back of my mind, as I listened to the reports, was the question of how long the company would be open even if the workers accepted the steep cuts in pay and benefits.  I thought it wouldn't be long and the jobs would be gone anyway.  Now we will hear the old song of the greedy workers destroying a good business.  What a crock!!

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