Comment Re:The Not-So-Glorious Reality (Score 1) 528
This is another case of corporate S.O.P: declare bankruptcy for one reason; to void any and all obligations to current - and especially - retired employees.
You have no idea what you are talking about. When a company declares bankruptcy all the assets (Trademarks and other IP, buildings, equipment, etc) are sold and the proceeds go to pay the creditors (Bond holders, retirees, etc) if there is anything left, and there rarely is in bankruptcy, the shareholders get it.
The idea that a corporation would intentionally declare bankruptcy to get out of obligations is completely ridiculous. Is it that hard to understand that the current company selling Hostess products is a completely different company than the old one and that the owners of the old company got nothing?