(Source: Kansas City Star, December 10, 2012)
KANSAS CITY, Mo. — Hostess Brands Inc. said in a news release Monday it used wages that were supposed to help finance employee pensions for the company’s operations as it sank toward bankruptcy.
The company told The Wall Street Journal it wasn’t clear how many workers were affected or how much money never wound up in their pension plans as promised. It was the first time the company made such an acknowledgement.
Full story: Kansas City Star