Posted on 11/14/2012 4:45:23 PM PST by tobyhill
Hostess Brands said Wednesday that it will go into liquidation unless bakers striking in protest against a new contract imposed in bankruptcy court return to work by the end of the day Thursday.
"We simply do not have the financial resources to survive an ongoing national strike," Hostess CEO Greg Rayburn said in a statement.
The liquidation would result in Hostess' nearly 18,000 workers losing their jobs. The bakers' union represents around 5,000.
The union did not immediately respond to a request for comment Wednesday, but has called the concessions demanded in the new contract "outrageous."
"Our members are on strike because they have had enough," bakers' union president Frank Hurt said in a statement Tuesday. "They are not willing to take draconian wage and benefit cuts on top of the significant concessions they made in 2004 and give up their pension so that the Wall Street vulture capitalists in control of this company can walk away with millions of dollars."
(Excerpt) Read more at money.cnn.com ...
I think they were under a bag of marshmallows, just to the left of some tubs of margarine, actually.
;]
I dunno. No bakeries around here, just the headquarters.
I think that is when the lawyers finish writing the filing they will bring to the court in the morning.
Obama had a meeting with union bigwigs the other day.
One of the things he promised them (pay back for the millions they spent to get him elected) was that he would cause all right to work states to lose that status.
The unions love Obama. His ObamaCare will give them at least 18,000 health industry union jobs.
That’s at least 9 million in dues at 500 per year.
http://www.orlandosentinel.com/business/os-merita-orlando-picketers-demands-20121115,0,3198771.story
They think bakery operations being sold off to someone else will protect their pay and benefits... seriously deluded they are.
They really want the company to fail.
We’re making a Sam’s run this weekend (crazy prepper people here, lol). My husband told me that the local high school (where our daughter will attend next year) has a black market on junk food since Moooochelle got her new school lunches implemented. I think I will stock up on Hostess products so our daughter makes a killing next year ;)
But that shelf life is what makes it the ultimate “survival snack!”
lol
I know it’s funny, but I said something similar to my husband last week. Our daughter is already quite conservative (not to mention rabidly pro-life). She’s getting a firearm for Christmas because she learned to shoot earlier this year with her grandpa and she loved it. Her dad says she was pretty good at it too ;)
I need to add Hostess products to the Sam’s list for Saturday now ;)
LOL! Isn’t that from Weird Al’s ‘Fat’ video? I love that guy.
Yes.
In that link I just posted above your post, these workers want the company to go out of business. They think a new owner will preserve their pay and benefits. They are seriously insane.
The new owner(s) will likely see no need to keep all 33 bakeries open. I’d be looking to getting rid of much of that union workforce too.
It's what Wall-e fed his pet cockroach!
Sounds like you did a great job with your daughter, BTW
So the “VULTURE Capitalist don’t have the money or desire toput up with this BS and will take their ball and go home.
If the 18,000 get fired they can go live in the homes of their union bosses I guess if this doesn’t work out.
“Sometimes, dead is better”
[Jud Crandall/Pet Sematary]
Thanks for making my case...:-P
I had to look up Brawndo on search.
Is it real or a joke? I’ve never seen or heard of it around here in the Chicago Area.
(I make my own thirst mutilator with Rockstar Coffee Mocha mixed with Toddy Coffee Concentrate.)
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