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View Diary: Inside the Hostess Bankery (260 comments)

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  •  the solution going forward.... (2+ / 0-)
    Recommended by:
    lonespark, NoMoreLies

    .... is either a 401K or equity shares using the same class of stock as held by senior management.  

    "Borrowing" pension money is an excuse to loot & scoot, because it's debt rather than equity, and the debt can be ditched in bankruptcy.

    Once it becomes equity it's at risk, but at least it can't be ditched.  And at the same time, any such employee bailout should come along with various concessions from management, for example board seats, lockdown of their right to sell their own shares, etc.

    Really: Unions need to start thinking in terms of ownership and employee takeovers.  

    We got the future back.

    by G2geek on Sun Nov 18, 2012 at 10:22:33 PM PST

    [ Parent ]

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