Stolen

Here's another article about the Hostess bankruptcy that explains pretty well what's going on.

In 2005 it was another contract year and this time there was no way out of concessions. The Union negotiated a deal that would save the company $150 million a year in labor. It was a tough internal battle to get people to vote for it. We turned it down twice. Finally the Union told us it was in our best interest and something had to give. So many of us, including myself, changed our votes and took the offer. Remember that next time you see CEO Rayburn on tv stating that we haven't sacrificed for this company. The company then emerged from bankruptcy. In 2005 before concessions I made $48,000, last year I made $34,000. My pay changed dramatically but at least I was still contributing to my self-funded pension.

In July of 2011 we received a letter from the company. It said that the $3+ per hour that we as a Union contribute to the pension was going to be 'borrowed' by the company until they could be profitable again. Then they would pay it all back. The Union was notified of this the same time and method as the individual members. No contact from the company to the Union on a national level.

This money will never be paid back. The company filed for bankruptcy and the judge ruled that the $3+ per hour was a debt the company couldn't repay. The Union continued to work despite this theft of our self-funded pension contributions for over a year. I consider this money stolen. No other word in the English language describes what they have done to this money.

Because it involves Twinkies and Wonder Bread, this story gets a lot of attention.  But, in reality, it's been happening just about anywhere you care to look for decades.

Adding: Examples abound:  Ownership invests in executive bonuses instead of product:  OMG newspapers are dying! Fire everybody! Cut benefits! But of course it's the union's fault, or the internet's.

For much the same reasons, your public schools are being turned into profit centers with teachers becoming the scapegoat.

Some version of this is going on literally everywhere you look.