Hostess, the company that makes Twinkies, Devil Dogs, Wonderbread, and a bunch of other stuff that is terrible for you, has filed for bankruptcy. The company will close its operations, shut down hundreds of locations worldwide and put 18,500 people out of work. The culprit? Unions. From the CNN Money website:
"We deeply regret the necessity of today's decision, but we do not have the financial resources to weather an extended nationwide strike," said CEO Gregory Rayburn in a statement.
You know it’s bad when Twinkies can survive a nuclear holocaust, but not the 2012 economy.