> If a company I worked for was ever late on a paycheck, or refused to continue paying for a pension/matching 401k, I think it's perfectly reasonable that the company should collapse.
Perhaps. Personally, I'd take it as a sign of whats-to-come, and leave. If other employees decided to stay, and agreed to some terms to save the company, let them.
In Hostess' case, I believe it was the Teamsters that had negotiated an equity stake in the company during a previous bout of poor financial times. There's always options.
I have a hard time believing the 30,000+ employees wanted their union to destroy the company, particularly since many of them had worked there all their life, their town had little or no other large company to provide jobs, and their pensions/retirement were tied to the entire mess. It's entirely possible Hostess was in bad times partly due to Union negotiated wage and pension funding levels.
In general, I guess I'm more skeptical of Unions than some. I've never been in a Union personally, and would chafe at the idea of being compelled to pay union dues (some jobs require this), and not being able to negotiate my own salary and benefits that fit my situation best.
The phrase "destroy the company" seems like an emotional appeal. If the company can restructure its debt, that leaves more of the pie for everyone else. Employees who didn't get a say in taking on the debt shouldn't have moral compunctions about creditors being stiffed. It's just business.
Perhaps. Personally, I'd take it as a sign of whats-to-come, and leave. If other employees decided to stay, and agreed to some terms to save the company, let them.
In Hostess' case, I believe it was the Teamsters that had negotiated an equity stake in the company during a previous bout of poor financial times. There's always options.
I have a hard time believing the 30,000+ employees wanted their union to destroy the company, particularly since many of them had worked there all their life, their town had little or no other large company to provide jobs, and their pensions/retirement were tied to the entire mess. It's entirely possible Hostess was in bad times partly due to Union negotiated wage and pension funding levels.
In general, I guess I'm more skeptical of Unions than some. I've never been in a Union personally, and would chafe at the idea of being compelled to pay union dues (some jobs require this), and not being able to negotiate my own salary and benefits that fit my situation best.