Union: ‘Bain-style’ killing of Twinkie

That is what they are saying.

The Bain attack is back.

This time it’s being used against Hostess Brands, the Twinkies and Wonder Bread maker that announced Friday it was closing. AFL-CIO President Richard Trumka drew the comparison in a public statement Friday.

“What’s happening with Hostess Brands is a microcosm of what’s wrong with America, as Bain-style Wall Street vultures make themselves rich by making America poor,” Trumka said in a public statement. “Crony capitalism and consistently poor management drove Hostess into the ground, but its workers are paying the price.”

Yep, in a lot of ways it is like Bain’s purchase of GST Steel.

As was the case with Bain and GST Steel, Hostess was in bankruptcy before the current owners were involved.

As was the case with Bain and GST Steel, Hostess was purchased out of bankruptcy with private equity. In this case, $130 million.

As was the case with Bain and GST Steel, the Hostess union immediately went on strike causing the already struggling company to tip over.

As was the case with Bain and GST Steel, the owners, faced with a company bleeding cash, were forced to liquidate assets.

As was the case with Bain and GST Steel, the union employees of Hostess were tossed out of work due largely to their own actions.

As was the case with Bain and GST Steel, the union blamed the people who invested in and attempted to save the company for its failure.

Why? The guiding principle behind the union movement is classic Marxism: Profit on capital is theft and only labor has value.

A non-trivial percentage of Americans agree with and have adopted the crypto-Marxism of the American labor movement. This alone was enough to cost Mitt Romney the election and its socialist agenda will continue to be a major force in the public lives of Americans.

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16 Responses to Union: ‘Bain-style’ killing of Twinkie

  1. R.D. Walker says:

    Twinkies survived the Great Depression but couldn’t survive Obama.

  2. Greg B says:

    Maybe the gov will supply ho-hos to h….
    Wait a minute …….

  3. vamd says:

    Unsaid in this piece is the fact that the evil private equity firm in this case is one run by a democrat insider with tons of teamster connections. This is a real narrative fail

  4. R.D. Walker says:

    Yeah, vamd, I had that in my list but decided it cluttered the narrative and reduced the point I was trying to make. But you are right, Democrats have private equity investments too. Hostess was one of them.

  5. Doc says:

    That’s 20,570 jobs lost in LESS THAN 8 HOURS! WWHHHHOOOOWWWEEEEE obamacare’s WERKIN’ AIN’T IT FELLERZ???

  6. Matt says:

    Has Hostess’s CEO caused any of his employees’ wives to die from cancer?

  7. notamobster says:

    Not yet, Matt. That’ll happen two years from now and be blamed on the next republican presidential candidate.

  8. Rich says:

    Doc :

    You mos gave me a fluid through the nose moment! What you wrote I heard as my brother’s voice. And you were spot on as my bro’s a good ole SC boy. Too, too funny man.

  9. James says:

    The result is private investment firms will be hesitant to commit money when unions are involved.

    The problem will take care of itself.

  10. dukkaA says:

    The spin machine will kick in high gear. It’s already going to be dumped on old white racist republican men! Count me in as one!

  11. TN-Cat says:

    Now that’s funny!

  12. R.D. Walker says:

    I am sure there will be some kind of a zombie Twinkie raised from the dead by Little Debbie or Sara Lee.

  13. Jim22 says:

    Or China.

  14. Greg B says:

    I remember when we were kids, my Mom would buy these no name brand twinkie snacks.
    They were cheaper and didn’t quite taste the same.
    I am stealing that pic, by the way.

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