Hostess Brands closed up shop permanently today, forced into bankruptcy and liquidation by a nationwide strike by the Bakers' Union. This will result in the loss of 18,500 full-time jobs.
According to the BBC:
"The union's pension fund is [the firm's] biggest unsecured creditor, and is owed about $944.2m."
No doubt some obscure agency of the federal government will step forward to guarantee the payment of the pension in Bernanke Bucks.
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Like Iowahawk tweeted yesterday: "I have to admit that it's exciting to be alive in the golden age of schadenfreude."
Ha!
It don't git no better'n this!
As much as I enjoy a good bout of schadenfreude at the expense of ideological enemies, Hostess probably wasn't helped out by the fact that no one seems to carry their products.
I went to seven different stores looking, and no one had anything from them. So either they sold out immediately, or they've been going away for a long long time.
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