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Hostess screwed workers...
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... |
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