http://tinyurl.com/cfh7k5y

In part:

Management, of course, blames the company?s demise on the greedy,
unreasonable unions. But, while the strike may well have sent Hostess
over the edge, the hard truth is that it probably should have gone out
of business a long time ago. The company has been steadily losing money,
and market share, for years. And its core problem has not been
excessively high compensation costs or pension contributions. Its core
problem has been that the market for its products changed, but it did
not. Twinkies and Ding Dongs obviously aren?t anyone?s idea of the
perfect twenty-first-century snack food. More important, the theoretical
flagship of Hostess?s product line, Wonder Bread, has gone from being a
key part of the archetypical American diet to a tired also-ran.
Hostess?s management certainly bears some of the blame for its failure
to successfully adapt, though the company made numerous (and failed)
attempts to introduce healthier products. But the simple truth is that
this kind of failure is endemic to the system?there are always going to
be companies that are unable to change in response to the marketplace.
And those companies are supposed to go out of business. Not to be too
clichéd about it, but this is what creative destruction is all about.


But, then again, that's not what FOX says.....