[Harry Rex Vonner]

Hostess has been through two previous Chapter 11 Bankruptcy proceedings. To aviod liquidation, the company asked the union workers to take an eight percent reduction in wages. One union agreed. The other rejected the offer. Hostess decided to permanently close. The union boys and girls cut their own throats.

The truth is that many companies, including hostess, are being smothered by thse union contracts particularly in regard to retirement benefits. They can't survive and fnd these obscene retirement plans. Therefore, you will continue to see many more companies going out of business. What other choice do they have when unions won't compromise for the good of all.

In light of this fact, and it is fact, Hostess did the right thing. Ninety-two percent of a high wage is certainly preferable to O% of a high wage. The union cut its own throat.