An Entire Institution
While a strike in New York cost some people lunch, another strike cost even more people dessert … and cost an institution its very existence.
Hostess, the maker of beloved desserts like Twinkies and Ding Dongs, is now liquidating thanks to a strike from its second largest union.
The death of the company, which got its start back in 1930, is costing 18,000 workers their jobs. And for junk-food fans and nostalgic food-lovers alike, Hostess’ death is also creating a wave of sadness (and wave of hoarding) for the classic treats.
The news is better for executives, though. They might have lost their company, but a judge recently approved a total of as much as $1.8 million in bonuses for 19 top executives at the bankrupt firm.