Reuters reports that Hostess Brands is going bankrupt. This is not the “let’s reschedule our payments” kind of bankruptcy, but the “sell every piece of hardware we have to whoever will bid for it” kind of bankruptcy.
So the corporate greed of Hostess Brands is now ending. No longer will they want to make money. No longer will they heartlessly buy ingredients at the lowest price they can get to make sugar snacks and white bread at a price point where consumers will buy them. No longer will they fight with their unionized workers to get them to accept lower pay or lower benefits.
This disaster shows that saying there is no more “greed” is another way of saying there is no longer anything to attract a profit motive. Which is another way of saying, consumers will have to go elsewhere to get what they want. Unjustifiable pensions and other burdens have led to the point that the company can no longer make a profit. As a result, there is no Hostess Brands to hire people or buy from suppliers to provide bread to consumers. Are the unionized workers better off now?
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