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Topic: Hostess, unions agree to mediation |
Hostess, unions agree to mediation
Reuters, by Staff
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Original Article
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Posted By:JoniTx, 11/19/2012 4:06:12 PM
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| Hostess Brands Inc. agreed in court on Monday to enter private mediation with its lenders and leaders of a striking union to try to avert the liquidation of the maker of Twinkies snack cakes and Wonder Bread. Hostess, its lenders and the Bakery, Confectionery, Tobacco Workers and Grain Millers International Union (BCTGM), agreed to mediation at the urging of Bankruptcy Judge Robert Drain of the Southern District of New York, who preferred it to the more expensive, public hearing regarding the company´s liquidation. "My desire to do this is prompted primarily by the potential loss of over 18,000 jobs
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Reply 1 - Posted by:
capt scurvey, 11/19/2012 4:16:51 PM (No. 9024156)
The Wives have spoken!
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Reply 2 - Posted by:
Kurto, 11/19/2012 4:19:21 PM (No. 9024160)
Figures, DOJ aka Holder is getting in on this... Watch out for 0 7Co. to GM the investors!
Union concerned that the company´s plan would improperly cut the ability of remaining workers to use sick days and vacation.
Take the rest of your lives off on sick days & vacation.
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Reply 3 - Posted by:
maitaisoo, 11/19/2012 4:23:15 PM (No. 9024166)
Ho-Hos just blinked. The company CEO must be a RINO too?
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Reply 4 - Posted by:
hisself, 11/19/2012 4:26:56 PM (No. 9024170)
Easy solution, just hire enough extra workers to vote the union out.
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Reply 5 - Posted by:
horacer, 11/19/2012 4:59:33 PM (No. 9024211)
On one hand I´d like to see those jobs saved. I hate to see so many families and communities hurt. On the other negotiating with the BCTGM is like negotiating with Hamas.
What´s wrong with bonuses to company insiders. If they´ve been long time, loyal workers they´ve earned it.
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Reply 6 - Posted by:
lazlototh, 11/19/2012 5:32:40 PM (No. 9024252)
I don´t think Hostess blinked - when a judge "suggests" that you pursue mediation I don´t think it´s much of a choice - it´s nonbinding; Hostess had already let the unions know that it is willing to shut down and can go back to that position any time after working through the mediation; and the unions have 13000 non-union people screaming about job loss, as they should. So I think Hostess has more leverage here, though I suspect that it will still end up liquidating because the unions are too into claiming victory by ending the company.
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Reply 7 - Posted by:
Conservativegirl, 11/19/2012 5:38:16 PM (No. 9024259)
This could be real misery for all the idiots on EBay who paid $100s for a box of Twinkies!
Girl´s Hubby
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Reply 8 - Posted by:
Jennie C., 11/19/2012 7:09:48 PM (No. 9024393)
Twinkies and Ho-Ho´s are one thing.
Beefsteak Rye bread is serious!! My fave.
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Reply 9 - Posted by:
WMP1952, 11/19/2012 7:14:49 PM (No. 9024407)
At the end of the day - if they can´t reach a deal, the company will still close. When you are in Chapter 11 you are required to pay your expenses going forward. If they aren´t profitable, investors will no longer provide financing and then they will have no more choices. This is a last ditch effort by the Bankruptcy Judge to help the parties come together. There is a tremendous amount of negotiating in Chapter 11 cases. There will be more concessions. If the Union isn´t willing to accept more then the company will not be operating at a profit and they will close or they will drastically scale back their production and jobs will be lost either way.
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Reply 10 - Posted by:
BaseballFan, 11/19/2012 8:25:07 PM (No. 9024492)
Twinkies?
It´s a better time to be investing in long-term food storage.
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Reply 11 - Posted by:
Rumblehog, 11/19/2012 8:26:29 PM (No. 9024493)
If they have a buyer in Mexico then they don´t even have to explore any compromise. Bimbo is an apt name for the new company.
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Reply 12 - Posted by:
provide, 11/19/2012 8:46:28 PM (No. 9024517)
Hostess is in Canada too. Bake on.
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Reply 13 - Posted by:
Patchy Groundfog, 11/19/2012 9:13:38 PM (No. 9024538)
#9 I love Beefsteak too!
As for the union - NO QUARTER
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Reply 14 - Posted by:
Jiobaobubai, 11/19/2012 10:12:07 PM (No. 9024582)
It´s simple, fire the 5,000 union garbage and replace them. Then the other 13K can keep their jobs.
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Reply 15 - Posted by:
ColonialAmerican1623, 11/19/2012 11:04:07 PM (No. 9024609)
Sorry, since I saw them interview a union employee who didn´t care if the company went out of business, my don´t give a damn meter broke.
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Reply 16 - Posted by:
LanieLou, 11/20/2012 3:17:51 AM (No. 9024719)
Larger unions accepted the deal... BCTGM didn´t object to it but later decided to strike... Why? Somethings fishy here...
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Reply 17 - Posted by:
Judith, 11/20/2012 8:17:01 AM (No. 9025025)
The Teemsters claim they ran the money numbers and the manufacturer was correct....no money, struggling to survive, the workers shouldn´t strike. AFL-cio claimed malarky and struck. The bankruptcy judge must have found a few drops of blood in the corpse of hostess and is attempting to give that to the union. Sad day for America.
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