NEW YORK — Hostess Brands Inc. plans to return to bankruptcy court on Wednesday seeking approval to move ahead with liquidations plans that would throw 18,500 people out of work, after a latch-ditch mediation effort met with failure. (Snip) Hostess failed to reach a contract agreement with the Bakery, Confectionery, Tobacco and Grain Millers Union, which represents 5,600 workers at the company. In a brief statement late Tuesday, the company said mediation proved unsuccessful.
Comments: The bakery workers union never showed good faith. Only their intention to go to the mat and drive Hostess into liquidation if necessary to make their point.
Someday soo I hope the union workers wake up and realize that their bully leaders are not serving their best interests. That will be a real revolution.
In the interest of jobs and `fairness`, the Court should nullify the Baker`s union contract an order them back to work. Hostess can pay them whatever was their last offer and get on with making the sugary treats we all know and love.
Of course, that will happen as soon as Twinkies become our national dessert treat.
#3, you probably know this, but for those who don´t: a bankruptcy court has no authority to try and save "jobs" or deal in "fairness". In fact, most bankruptcies are manifestly unfair, as some creditors will be paid and some will be stiffed.
The Court´s only function is to see that the existing creditors get paid as much as possible on what they are owed. Now they won´t get it all, but a liquidation may well pay off much of the debt.
Best bet on what happens to twinkies: Grupo Bimbo buys them and moves all production to Mexico, where they not only will have massively lower labor costs but they also will have much lower sugar costs, due to a misguided US sugar tariff policy.
Who knows, soon Americans may start trying to illegally migrate into Mexico for the jobs. Well, and also for a government a little bit less corrupt than the one we have here now.
(okay, that last bit is tongue in cheek - but can anyone argue that our government today is any better than Mexico´s? I won´t.)
The unions are using the line about upper management getting large raises - one 300%, as a smoke-screen. Saddly the 47% are buying it. Too many figure life is supposed to be fair. All you have to do is show up.
There seems to be a misunderstanding about Grupo Bimbo. Although it is a Mexican company, it operates throughout the world (it is the #1 commercial baker in the world), but manufacturers its products locally in the various nations. In the United States, its headquarters is in Santa Fe, NM.
They are already manufacturing Oroweat and other American bread brands, Sara Lee (fresh baked items), Boboli, and so forth. In this country. I´m not sure that they will do anything different with Hostess. Why would they go and set up plants elsewhere if they buy all of Hostess´s assets which would include brands, recipes and equipment-filled plants, trucks, the works?
I want nothing but malice toward the unions and the union members who caused this. Enjoy a miserable life - I hope you all lose your homes because of this. Try getting a job in the real world where you get these sweetheart work rules and pensions.
Instead of damning the ranks of union workers who have no choice in Union controlled states damn the state politics and union leaders for keeping them in a semi state of forced membership. Remember the thousands of union teachers who dropped out after they were greed of the union dues? 18 right to woek states should become 50.
Radio host Rush Limbaugh accused President Obama on Friday of trying to do “everything and anything he can to link himself to” Nelson Mandela after the former South African president’s death. “Now, forgive me, but if you are a low-information voter and you’re watching the CBS Evening News last night, you would come away with the impression that the important thing about Nelson Mandela’s death was that he had looked up Barack Obama when he came to town and had a picture of Obama when he died,” Mr. Limbaugh said on his show Friday. “Classic, folks. Absolutely classic — and the
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US President Barack Obama may have moved the masses attending Nelson Mandela’s memorial service with his stirring eulogy, but it was his grinning "selfie" with the Danish and British premiers that set social networks abuzz. In a candid moment captured by a photographer, Denmark’s Prime Minister Helle Thorning-Schmidt can be seen holding up her smartphone, with Obama lending a helping hand, as they pose for a picture with David Cameron, all three of them smiling broadly in their seats at Soweto’s World Cup stadium.(Snip)Mashable, the news and technology website, ran the photograph under the headline: ‘‘Dear Obama: Funerals are no place
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