How Workers And Management Both Caused The Demise Of Hostess
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Hostess began as Interstate Bakeries Corporation (IBC) in 1930 and over time became the largest wholesale baker and distributor of bakery products in the United States.
But now the company is finished as it has shut down operations and is liquidating its assets after workers rejected a new contract after a January bankruptcy.
At the time, David Kaplan of Fortune pointed out that there are "no black hats or white knights in this tale" because the workers refused to adapt their demands in a competitive marketplace while management failed to turn the company around as investors looked to cash out.
Read more: http://www.businessinsider.com/how-workers-and-management-both-caused-the-fall-of-hostess-2012-11#ixzz2CPdr5VXc