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Message: <blockquote data-quote="11b1776" data-source="post: 1991420" data-attributes="member: 18139">The same can be said for the company's, when there CEO's and board members make millions sitting behind a desk, but are the first to blame the unions for wages and benefits being to high. Here are the facts of this case;They came out of there 1st bankruptcy in 2009 in more debt than they went in with. They received concessions from there lenders as well as the UNIONS.The top executives of Hostess in 2011 gave theresevles pay increases of anywhere from 40%-300%, they stopped paying into workers pension plans. There market share kept getting smaller every year but they give theresevles huge pay increases, how's that reward for running into the ground."By late 2011, Hostess was getting, well, creamed. Its sales last year $2.5 billion were down about 11% from 2008 and down 28% from 2004. (Twinkies remain the best individual seller 323 million of them in the 52-week period ending June 29, give or take a splurt.) Overall, Hostess lost $341 million in fiscal 2011, 2½ times the loss of the prior year and by early 2012, primarily because of burgeoning interest obligations, its debt had grown to about $860 million."<a href="http://news.gather.com/viewArticle.action?articleId=281474981760866" target="_blank">http://news.gather.com/viewArticle.action?articleId=281474981760866</a><a href="http://management.fortune.cnn.com/2012/07/26/hostess-twinkies-bankrupt/" target="_blank">http://management.fortune.cnn.com/2012/07/26/hostess-twinkies-bankrupt/</a><a href="http://blog.chron.com/lorensteffy/2012/04/extreme-filling-twinkie-makers-execs-accused-of-padding-pay-before-bankruptcy/" target="_blank">http://blog.chron.com/lorensteffy/2012/04/extreme-filling-twinkie-makers-execs-accused-of-padding-pay-before-bankruptcy/</a></blockquote>

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