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Food-Twinkies No MoreThere have been a number of stories in recent days implying that the demise of Hostess was somehow the result of unreasonable demands from workers. Here, however, are a couple of stories that debunk that narrative.

In the first (“No cupcake: Workers turn down bad deal from Hostess”), Dean Baker at the Center on Economic and Policy Research points out that the management team with whom the workers were attempting to negotiate were basically a bunch of predatory knuckleheads.

In the second (“Hostess blames union for bankruptcy after tripling CEO’s pay”), the folks at Think Progress provide more disturbing details.

 

 

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If you’re among the many people who found themselves looking up at the TV in recent days and saying to yourself “what the heck?”!” as Donald Trump’s creepy mug flashed across the screen at the end of a Macy’s Christmas season ad, know that you’re not alone. Nearly a half-million people have already signed a petition calling on the giant retailer to tell the dim-witted plutocrat that he’s FIRED!

If you’re interested in learning more about the story click here. You can sign the petition by clicking here.

 

 

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Though it was uttered 76 years ago, it remains just as apt today. In fact, if one merely changes the date mentioned, the statement would work just as well for the 44th president as it did for the 32nd.

“You would think, to hear some people talk, that those good people who live at the top of our economic pyramid are being taxed into rags and tatters. What is the fact? The fact is that they are much farther away from the poorhouse than they were in 1932.” – FDR, address at Worcester, MA, October 21, 1936.”

 

 

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In case you missed it amongst all the debate hubbub, another modern day robber baron cashed out yesterday. According to the folks at Think Progress:

“Citigroup CEO Vikram Pandit abruptly resigned today, leaving the helm of the bank that he guided through the financial crisis of 2008. For his five years of leading Citi, Pandit will receive compensation in the neighborhood of $260 million.”

Not that he did much to earn it. As the article also notes:

“Overall, Citi lost 88 percent of its value under Pandit. Earlier this year, the Wall Street Journal dinged Pandit for having the pay package that was most detached from his company’s performance, as a three-year decline of 27 percent coincided with his making $43 million.”

Ah, the genius of the “free” market…