Vulture Capitalism Ate Your Twinkies
So when Hostess was in bankruptcy in 2004, vulture capitalists bought it and loaded it with debt. $400m+ then to $1B now. They cut pay and benefits while promising to invest in new equipment and plant upgrades. Those never happened, and the debt money went to consulting and other fees by the vulture capitalists and huge pay raises to top executives. Now they have run up against another bankruptcy, and they blame it on the unions for not taking yet another huge cut.
http://www.thenation.com/blog/171331/vulture-capitalism-ate-your-twinkies