HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Main » Latest Breaking News (Forum) » Hostess, Bakers Union to ...
Introducing Discussionist: A new forum by the creators of DU

Mon Nov 19, 2012, 04:50 PM

Hostess, Bakers Union to hold talks on reason for strike

Source: Bloomberg

Hostess Brands Inc. will hold talks with its bakery workers’ union tomorrow to explore the reasons for a strike that the maker of Twinkies and Wonder bread said will force it to liquidate.

U.S Bankruptcy Judge Robert Drain said today at a hearing in White Plains, New York, that there are “serious questions as to the logic behind the decision to strike.” He urged the company and the union to enter mediation, citing the potential loss of more than 18,000 jobs.

“I believe that mediation really only works if the parties are willing to do it but I’m also strongly suggesting that the parties should be willing to do it,” Drain told lawyers for the company and its bakers’ union. “To me not to have gone through that step leaves a huge question mark over this case which I think will only be answered in litigation.”



Read more: http://www.washingtonpost.com/business/hostess-to-hold-talks-with-bakers-union-on-reasons-for-strike/2012/11/19/320572f6-328a-11e2-92f0-496af208bf23_story.html#license-320572f6-328a-11e2-92f0-496af208bf23

6 replies, 1731 views

Reply to this thread

Back to top Alert abuse

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 6 replies Author Time Post
Reply Hostess, Bakers Union to hold talks on reason for strike (Original post)
Sophiegirl Nov 2012 OP
Robb Nov 2012 #1
bluesbassman Nov 2012 #2
freshwest Nov 2012 #3
SoapBox Nov 2012 #4
BlueStreak Nov 2012 #5
dipsydoodle Nov 2012 #6

Response to Sophiegirl (Original post)

Mon Nov 19, 2012, 04:56 PM

1. Look at the LAST two paragraphs of this piece.

I mean, I've seen burying the lede before, but this is an ASTOUNDING example:

The U.S. trustee, a Justice Department official responsible for protecting creditors, today asked Drain to take control of the liquidation away from the company. U.S. Trustee Tracy Hope Davis asked the judge to convert the case to a Chapter 7 from Chapter 11 bankruptcy, based partly on the company’s intent to pay bonuses, and appoint a trustee to supervise the wind-down.

Hostess officials “have not demonstrated that the insider bonuses are permissible,” Davis wrote in a court filing. They also “improperly seek to exculpate and indemnify their management from past and future liabilities” and want to “cherry-pick which administrative claims get paid.”

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Robb (Reply #1)

Mon Nov 19, 2012, 05:19 PM

2. The various management teams over the past decade have not acted in good faith,

and have not executed a business plan that was designed to keep this company solvent and viable.

What has been done is cost cutting directly affecting the financial well being of the employees, and a systematic looting of this company through vulture capitalism.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to bluesbassman (Reply #2)

Mon Nov 19, 2012, 05:47 PM

3. +1,000 to both of you.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to bluesbassman (Reply #2)

Mon Nov 19, 2012, 05:48 PM

4. On MSNBC's The Cycle today...

This was one of the last topics.

OF course, they laughed and laughed and laughed about Twinkies, Ho-Ho's and the like

but just barely mentioned all of the workers that will be out of work.

Disgraceful that the Impotent Media is not all over the virtual theft of monies from the company.

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Robb (Reply #1)

Mon Nov 19, 2012, 05:50 PM

5. Huge exec bonuses for firing 18,000 people not permissible? What is this world coming to?

Reply to this post

Back to top Alert abuse Link here Permalink


Response to Sophiegirl (Original post)

Mon Nov 19, 2012, 07:37 PM

6. Kick.

.

Reply to this post

Back to top Alert abuse Link here Permalink

Reply to this thread