Hostess Bankrupt, who to blame?

I have not done my typical 2 hour scan and seek 'the truth' on the Hostess bankruptcy.
What does amaze me is how the public unions is publicly persecuted and we, the people buy it completely.
It should go to show how amazingly powerful the media is, and how it is not a LEFTIE establishment as popular myth says it is.

Reporting should provide full analysis on topics, so I the reader can get the short summary.

Take a look at fox news coverage here titled "Hostess to close, lay off 18,500 after 'crippling' union fight".
Notice how the final straw gets all the blame.  Its like blaming the doctor when a 500 lb fat man dies of a heart attack on the operating table.

Now, back to how i started this post.  I did NOT seek the truth on this topic, to spin to what I believe reality is.   But I do notice the news is not impartial, it is framed in a very specific way, to place 100% blame on the strike at the very end.  The news reads to blame greed of unions for the company failure.

Now, lets look at an alternative view.... What Killed Hostess?
For a more radical view.... Blaming it on Venture Capitalists.

What we are seeing frequently as baby boomers retire is massive improper funding of a pension.
Pensions, should have never been allowed to exist.  They are a future promise, to be paid by magic in the future.    Yes some pensions are well funded and self-sustaining, but many many more are not.

Under funding a pension, lack of re-investment, innovation, food attitude changes, greed resulting in debt piled upon debt, and bad management. If you are a manager, and a victim, then you should not be a manager.  Own up and take responsibility, or join the blue collar workforce.

Blame the union? I am sure they are not innocent.  But lets be more objective than blame the final act, that 500lb man dead on the hospital table, it's not the doctors fault, its the shape the man/company was in at the time after years of abuse.

Don't take public spin, its almost always wrong.