How can it be that there is no remedy for this sort of theft? Hostess took workers' pension money to fund itself:
Of all the outrages Hostess has committed against its workers, this may take the cake. In August, 2011, the company just stopped contributing to its workers’ pensions, and is now acknowledging that it instead used the money for operational expenses. The money that didn’t go into pension funds was money that the workers had bargained for and chosen to take as pension instead of wages. But that doesn’t mean there’s anything they can do about it:
At the very least we should put promised past pension contributions higher up in the queue in bankruptcy. (Underfunded future promises is a harder question I haven’t thought through.) It certainly ought to come ahead of management bonuses.