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11/17/2012

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J. Reed Anderson

The unions' hierarchy wanted to secure pension benefits. Hostess was in the tank for $2 billion (yep) in unfunded liabilities; that's one big IOU. The unions won. They got the IOU.

John Pepple

Hmm, maybe there's a downside for the leaders after all.

John Pepple

Union leaders, that is.

Mike43

Not likely; the pension will probably revert to the Pension Guarantee Fund, and the workers will get about 10 cents on the dollar.

But, hey; that was better than Delphi non-union workers got under the plan to save GM. They got 0 cents on the dollar.

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