From Business Week:
Hostess in a statement today blamed the latest bankruptcy on a weak economy and costs tied to pension- and medical-benefit obligations. The Irving, Texas-based baker intends to withdraw from pension plans and modify collective-bargaining agreements with unions, according to court documents.
What will happen to the Twinkies?!
It seems these days everybody's blaming worker pensions, even though it's also obviously financial mismanagement. I'd like to see the real reasons on how Hostess got itself into a nearly billion dollar hole.