How Hostess management screwed up (by Harry WIlson, CEO)

[Omaha Steve]

Here is a link to a document that's in the bankruptcy court filings by Harry WIlson, CEO of a turnaround firm. He lists the many problems that caused Hostess' demise, including years of underinvestment; neglect of once-dominant brands; hollowing out of the distribution system, failure to innovate; management missteps.

http://www.teamster.org/sites/teamster.org/files/Wilson_Report_as_Filed_Redacted_(00216121)_c.PDF

He points out half of Hostess' competitors operate under similar and in many cases higher labor cost structures.

Check out 24c, 24e, 33a-c.

[HiPointDem]

1. "half Hostess' competitors operate under similar and in many cases higher labor cost structures."

[RKP5637]

2. Exec. management ran the company into the ground, blamed the workers, and now do the

ultimate F over on employees.

[RKP5637]

3. Link was broken, this one seems to work?

http://www.teamster.org/sites/teamster.org/files/Wilson_Report_as_Filed_Redacted_%2800216121%29_c.PDF