Comments on: Counterparties: Our sweet creamy center cannot hold http://blogs.reuters.com/felix-salmon/2012/11/16/counterparties-our-sweet-creamy-center-cannot-hold/ A slice of lime in the soda Sun, 26 Oct 2014 19:05:02 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: Moopheus http://blogs.reuters.com/felix-salmon/2012/11/16/counterparties-our-sweet-creamy-center-cannot-hold/comment-page-1/#comment-44717 Mon, 19 Nov 2012 12:04:40 +0000 http://blogs.reuters.com/felix-salmon/?p=19469#comment-44717 Hi Felix–Here’s another useful link for your readers: A petition on Whitehouse.gov to nominate Neil Barofsky for Chairman of the SEC.

http://wh.gov/Xn6n

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By: Eericsonjr http://blogs.reuters.com/felix-salmon/2012/11/16/counterparties-our-sweet-creamy-center-cannot-hold/comment-page-1/#comment-44715 Mon, 19 Nov 2012 03:14:08 +0000 http://blogs.reuters.com/felix-salmon/?p=19469#comment-44715 So what did the unionized bakers at Hostess make per hour? And what was the offer they rejected? And how much do “normal” (non-union) bakers make?

And can anyone live on that?

In all the coverage for the past few days I only saw one data point, from a receiving clerk in Kansas. His annual pay in 2005: $48,000. Pretty good in Kansas. In 2011: $34,000. So a 29 percent reduction in pay over four years. And the offer on the table when the strike started? $25,000.

Now, you could make the argument that paying a clerk–and I don’t know exactly what a receiving clerk does, but whatever–$23 an hour is just folly. Why, that’s a home-owner’s wage! You could almost save up for your kid’s college on that kind of pay.

But at $25,000 annually, your clerk is hurtin’, even in Kansas.

He becomes a “taker.”

It’s almost ironic, isn’t it?

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By: sofiamog7 http://blogs.reuters.com/felix-salmon/2012/11/16/counterparties-our-sweet-creamy-center-cannot-hold/comment-page-1/#comment-44686 Sat, 17 Nov 2012 20:23:43 +0000 http://blogs.reuters.com/felix-salmon/?p=19469#comment-44686 While Hostess Management blames the company’s demise on, what they claim to be, the greedy unions, and the public attributes their disaster to the overly consistent unchanging product line, or just merely to inevitable creative destruction…

The real question and concern causing toothaches across the globe is: when the economy crashes and the workers (who were promised a solid middle class lifestyle) find themselves left behind, where do they find economic salvation ? Or in the end is it just the Big Boss Execs’ who have a golden ticket out of the mess, while the rest are left to race to the empty market shelves?

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By: StuartG http://blogs.reuters.com/felix-salmon/2012/11/16/counterparties-our-sweet-creamy-center-cannot-hold/comment-page-1/#comment-44685 Sat, 17 Nov 2012 19:57:37 +0000 http://blogs.reuters.com/felix-salmon/?p=19469#comment-44685 The First Lady will not let President Obama bail out Hostess lest we have a creme-filled land of fat, diabetic Twinkies. More importantly, who’s behind the pension shortfall? How did the private equity owner’s debt pile-on affect the prior bankruptcy plan’s success? What about the distressed debt hedge funds? Job creators – minus 18,500 – indeed.

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By: MSM-Reuters http://blogs.reuters.com/felix-salmon/2012/11/16/counterparties-our-sweet-creamy-center-cannot-hold/comment-page-1/#comment-44684 Sat, 17 Nov 2012 02:23:13 +0000 http://blogs.reuters.com/felix-salmon/?p=19469#comment-44684 Another way to do the numbers of calories taken off line by shuttering Hostess:

Google ‘750e9 Calories per year in MW’ to find that about 100 MW were taken down, about one tenth of a run-of-the-mill nuclear power reactor. That’s quite the DIng Dong.

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