Chapter 11?

I just read an article about Hostess declaring bankruptcy. Why? To be able to truly bargain with their Unions and to ease some of their Pension pains. Look, I understand the problems of management versus workers but many of our unions have crippled their companies. It's pretty bad when such a well-known and well-loved company has to do something so draconian as to declare Bankruptcy in order to be able to negotiate! What's my thought on this? I am not a huge union fan obviously and I want to see more US companies be able to compete with foreign companies. Why did so many companies move offshore? Cheaper labor! I am sure the hourly wages are much different but if you add in all the governmental regulations PLUS the higher wages PLUS all the Union demands it makes for an easy business decision to relocate (not only that, compare rust belt Automakers vs. all the Southern US Plants--lower wages and benefits, yes, but people are WORKING). Look at all the new auto plants being built in the South--Kia, Hyundai, VW. Not only is it cheaper to produce here (due to exchange rates and shipping costs) we have a solid workforce. So I guess I'm just griping about unions today. Do I "applaud" Hostess' move? In some respects, I agree with it. However, no one wants to see someone 'fail' (at least that's how I see Bankruptcy). Will we see more of this? It all depends on the marketplace. In essence, both sides need to work together--pay a fair wage but work a fair amount. It's all in the balance! I wish Washington, DC worked like that... Cheers, Bo