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Better dose of the 21 century economic reality is bringing big changes to -- twentieth century American trade.
Correspondent -- -- on what appear to be the final days.
-- the hostess -- Neither twinkie the kid nor last ditch negotiations could save hostess which announced on its website today hostess brands is closed.
The company said it is suspending operations at all plants and putting 181000 employees out of work.
Buyers lined up at a Denver plans today for last chance to -- exits.
Hostesses CEO put blame squarely on a strike by its bakers union which refuse concessions in an industry saturated -- overcapacity.
The leadership has threatened to fine them if the cross the picket lines the baker sits across their own lines but we've had a number of them crossed their own lines this week.
Earlier this week even as hostess closed three of its plants the bakers union remained defiant saying in a state -- its members were quote.
Not willing to take draconian wage and benefit cuts on top of the significant concessions they made in 2004.
And give up their pensions -- that the Wall Street vulture capitalists in control of this company can walk away with millions of dollars.
Last spring the Wall Street Journal catalog -- hostesses acquisition of victories around the country saddled -- with cumbersome union obligations.
Collective bargaining agreements forty different pension plans and 5500 delivery routes -- system so inefficient.
That bread truck drivers were sometimes prohibited from caring twinkies.
And twenty drivers banned from carrying bread the unions can survive.
And industries that have monopolies -- -- golf -- -- where they aren't high profits.
Like utilities for example but unions just -- companies that are in very competitive industries like the food industry.
Another company -- buyout hostess and continue producing its goods but one entrepreneur is not banking on that.
He's auctioning off -- ten -- of the last twinkies on eBay.
For 100 dollars.
Doug thank you makes you want to go by all of the twinkies in the grocery store.
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