Skip to comments.Hostess Mediation Fails, Liquidation To Proceed; Furious Laid Off Workers Now Turn On Labor Union
Posted on 11/20/2012 7:49:57 PM PST by Nachum
Last week, when discussing the next steps for the company, and specifically the hope that mediation may resolve the epic animosity between management and workers, we stated that "What makes a mediation improbable is that the antagonism between the feuding sides has certainly hit a level of no return: "Several unions also objected to the company's plans, saying they made "a mockery" of laws protecting collective bargaining agreements in bankruptcy. The Teamsters, which represents 7,900 Hostess workers, said the company's plan would improperly cut the ability of remaining workers to use sick days and vacation." Sure enough, moments ago we learned that mediation has now failed and the liquidation may proceed. And since in America nobody understands that proper sequence of events involved in a bankruptcy liquidation, where the valuable parts always end up being acquired by someone, in this case the Twinkie brand and recipe, let the pointless Ebay bidding wars over twinkies continue. As for what really happens next, if indeed Bimbo is prohibited from acquiring the assets in the Stalking Horse auction due to anti-trust limitations, then the buyer will almost certainly be a "financial", i.e., another PE firm, whose coming means the end of any hopes and dreams of preserving union status at fresh start Hostess, or whatever the new firm will be named.
From the WSJ:
Hostess Brands Inc. said Tuesday night it would proceed with liquidation plans after mediation fails.
Earlier Tuesday, the head
(Excerpt) Read more at zerohedge.com ...
“Is Sandra Fluke their spokesperson? “
Good one. I remember as a kid seeing the TV commercials for Wonder Bread, with the “colorful balloons on the wrapper.” With Sandra Fluke as their modern day spokesperson, she could describe the “colorful condoms on the wrapper.”
Notice how we never hear about how our Military is doing in Afghanistan? It’s like they dropped off the face of the earth in the months leading up to the Election.
No hourly Casualty counts like when Bush was in Office. No horror stories about how the Troops mistreat the poor Taliban, nothing.
It’s not the News Reports, it’s who Reports the News. Stalin is looking up and smiling at his protégé, Barry Milhouse Obama.
They are liquidating. You buy the goodwill, the intellectual property (ie, recipes), brand equity, and brand names. Maybe you buy the machinery, but you disassemble it and ship it to a new factory in a right to work state or in Mexico.
They are not selling it as an on-going enterprise.
Then if i understand it correctly, they could form a new company in a right-to-work state and have no unions, right?
I have used these for years - don’t know what they’re called.
“Dont know. I never ate any Bimbo bread. Is it fresh?”
“Dont know. I never ate any Bimbo ... bread. Is it fresh?”
Might just change the meaning, slightly ................................................ FRegards
>> International Brotherhood of Teamsters,
Guess the US ain’t good enough.
No. It’s a ponzi scheme. Current union retiree’s are seeing a problem because Hostess hasn’t payed into the pension fund for over a year. My buddy and his wife, who never worked for Hostess depend on Hostess’ payments to the union welfare trust for a portion of their monthly pension funding. Bad news for more than the 18,000 immediately affected, I’m afraid.
Watch Obama assume distressed pensions on our dime. We can all be “Obamatired!”
Bimbo? I think Clinton liked to eat Bimbo tarts . . . .
Looks to me like the unions have another bread and butter ticket. Who cares about 18,000 folks when there is WALMART to conquer!
How much power will the unions/Obama have then? And how much more will America have lost? Black Friday protests are coming and they mean business. It’s going to be a very ugly Friday and our Zippy is instigating it. He has a one track mind I’m thinkin’.
So. why don’t a bunch of unions get together and buy the company and run it the way they wish? Wouldn’t that prove to the world that the union way is the best way? hehe.
“18,500 American jobs headed to MEHico and the union declares a great victory!”
LOL It certainly underscores the ignorance and IQ levels of obama voters.
All went according to plan.
IMHO, it's the freshest and most reasonably priced name-brand on the market....and I'm REALLY picky about my bread! :-)
My first try, and hubby LOVES them. You have to play with the amount of batter you put in the shallow pan, they make 6 halves at a time. I used cream cheese frosting for the filling. There choices are nearly endless. You need a pipping bag if you do the lady finger pan to fill them...just yellow cake mix, don't forget the milk for added moisture.
can’t be posted as an article, but you can go read what 0 is going to do to our MILITARY