Bloomberg (September 30)
“The most violent protests in Hong Kong in almost 50 years pose a dilemma for President Xi Jinping: clear the streets and risk embedding anti-China sentiment in a city that has prized its relative freedom, or make concessions and appear weak at home.”
Tags: Anti-China sentiment, Concessions, Freedom, Hong Kong, Protests, Risk, Violent, Xi Jinping
Wall Street Journal (November 17)
Hostess, the maker of iconic American junk food like Twinkies, filed for bankruptcy. “On Friday it shut down its 33 bakeries and 565 distribution centers and prepared to fire nearly 18,500 employees en masse and auction off its brand and recipe portfolio.” The bakers and other unions succeeded in killing “an American classic, and 18,500 of their own jobs” because they refused to make concessions which might have turned the enterprise profitable. Hostess lost $341 million on sales of $2.5 billion in 2011.
Tags: Bankruptcy, Concessions, Hostess, Twinkies, Unions
