HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Main » General Discussion (Forum) » Hostess web page replaced... » Reply #6

Response to smccarter (Reply #5)

Fri Nov 16, 2012, 06:12 PM

6. +1. In fact, they already stole the pensions once during an earlier bankruptcy.

 

The bad news continued in 1984, as Interstate racked up $4.2 million in red ink. At that time, the company appointed a new president, Robert Hatch, a veteran of General Mills, who came on board just days before Interstate's bankers demanded payment on $36 million worth of loans. In an effort to get the company out of the shadow of its computer-leasing losses, Interstate took another $21 million writeoff and cashed in its $37 million pension fund to pay off the banks.

http://www.fundinguniverse.com/company-histories/interstate-bakeries-corporation-history/

Reply to this post

Back to OP Alert abuse Link to post in-thread

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 8 replies Author Time Post
HiPointDem Nov 2012 OP
Lint Head Nov 2012 #1
HiPointDem Nov 2012 #3
City Lights Nov 2012 #4
Great Caesars Ghost Nov 2012 #2
smccarter Nov 2012 #5
LineLineNew Reply +1. In fact, they already stole the pensions once during an earlier bankruptcy.
HiPointDem Nov 2012 #6
aint_no_life_nowhere Nov 2012 #7
amborin Nov 2012 #8
Please login to view edit histories.