My friend Frank share some thoughtful insight in the demise of American icons like Wonder Bread and Twinkie. I am glad to see Frank lay blame at the feet of both the management and union leaders. However, and please know that I am no union fan, the employees of Hostess could have taken a lesson from the UAW. I can’t believe I am about to say anything good about this group, but let’s give credit where it is due. The UAW worked with Ford during very tough times. While GM took the gov bail out, Ford with support of its unionize workers knuckled down, made sound business decisions and has done very well. Labor cost, including benefits are the largest line on the balance sheet. Pensions went the way of the dinosaur years ago. This is a sad indication of greed for all involved, including employees who could have decertified that union at any time. Bye-Bye Twinkie.
I hope you enjoy this repost from Frank Ryan, this morning.