Last night as I was driving I was listening to MSNBC on the radio. I believe MSNBC is one of the media outlets of the DNC. They were talking about the Hostess Bankruptcy and placing all the blame on management. Of course.
During the course of the broadcast, it was stated that Hostess has made the claim of over 110 parties who are interested in purchasing the company and that 70 of them are serious enough to have signed Non-Disclosure Agreements (NDA) to be able to go over the company's financials.
The MSNBC host (I forget his name) made many comments that the high level of interest is proof that the BK is a product of mismanagement and not the worker's fault.
So, my simple question is: If the company is viable given it's current contracts and facilities, why don't the current workers put together a package to make Hostess an employee owned company? They have retirement funds in their pensions which could be invested in this venture, they would have the union backing and possibly partial financing and they have a very favorable administration in Washington DC who would assist them in any way possible.
If they are so certain it can be done, why aren't they willing to take the risk to do it?
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