On Mon, 10 Dec 2012 18:22:53 -0500, ESAD wrote:

On 12/10/12 5:20 PM, jps wrote:

Hostess Brands acknowledged for the first time in a news report Monday
that the company diverted workers' pension money for other company
uses.

The bankrupt baker told The Wall Street Journal that money taken out
of workers' paychecks, intended for their retirement funds, was used
for company operations instead. Hostess, which was under different
management at the time the diversions began in August 2011, said it
does not know how much money it took.


In most of the building trades unions, the funds are managed by a trust
fund and unfunded liabilities are not allowed. The fund directors are
bonded. If either the management or labor side of the fund pulled what
Hostess did, the bonding company would push for criminal prosecutions,
and the "reach back" process would find, arrest, try and convict the
management suits who did this.

Let's hope so...