The killer of the Ring Ding is not whom the "lamestream media" would have you believe:
But while headlines have been quick to blame unions for the downfall of the company there’s actually more to the story: While the company was filing for bankruptcy, for the second time, earlier this year, it actually tripled its CEO’s pay, and increased other executives’ compensation by as much as 80 percent.
At the time, creditors warned that the decision signaled an attempt to “sidestep” bankruptcy rules, potentially as a means for trying to keep the executive at a failing company.
The New Yorker has a smart and fair-and-balanced (no, this time, really) take on who killed the Twinkie (h/t Atrios):
The real issue here is that people’s image of unions, and their sense that doing something like going on strike is legitimate, seems to depend quite a bit, in the U.S., on how common unions are in the workforce. When organized labor represented more than a third of American workers, it was easy for unions to send the message that in agitating for their own interests, union members were also helping improve conditions for workers in general. But as unions have shrunk, and have become increasingly concentrated in the public sector, it’s become easier for people to dismiss them as just another special interest, looking to hold onto perks that no one else gets. Perhaps the most striking response to the Hostess news, in that sense, was the tweet from conservative John Nolte, who wrote “Hostess strikers had pension. PENSIONS! What is this 1962?” It was once taken for granted that an industrial worker who worked for a big company for many years would get a solid middle-class lifestyle, and would be taken care of in retirement. Today, that concept seems to many like a relic. Just as Wonder Bread does.
And finally here's a look inside "the Hostess Bankery."
There's a lot to be thankful for this Thanksgiving holiday, but I know I'll be thankful for the men and women who fought so hard in the past for a decent middle-class lifestyle, and for the courageous people -- like these workers at Wal-Mart fighting for basic fairness -- who continue the fight today, at enormous risk to themselves and their family. Make a wish and I'll see you next week.