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Judge Suggests Mediation to Save Hostess; Sides Agree to Talk.
WSJ ^

Posted on 11/19/2012 12:12:42 PM PST by Perdogg

Dow Jones is reporting that a bankruptcy judge is urging mediation to save Hostess from liquidation. WSJ will have more to come as it comes out of the courtroom.

Here’s an update from bankruptcy reporters Jacqueline Palank and Rachel Feintzeig

A bankruptcy judge Monday asked whether he should preside over mediation between Hostess Brands Inc. and its striking union to avoid pulling the plug on the baker of Ho Hos, Twinkies and Wonder Bread.

(Excerpt) Read more at blogs.wsj.com ...


TOPICS: Breaking News; Business/Economy
KEYWORDS: hostess
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1 posted on 11/19/2012 12:12:46 PM PST by Perdogg
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To: Perdogg

2 posted on 11/19/2012 12:15:53 PM PST by Doogle ((USAF.68-73..8th TFW Ubon Thailand..never store a threat you should have eliminated))
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To: Perdogg

If I had the choice between my beloved Twinkies and chocolate cupcakes becoming extinct or the Obamadork/felon/human excrement never being seen again - ‘twouldn’t be long before I could announce a decision.


3 posted on 11/19/2012 12:18:28 PM PST by Da Coyote
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To: Perdogg

The unions do not want to compromise at all

economics won’t either


4 posted on 11/19/2012 12:19:08 PM PST by GeronL (http://asspos.blogspot.com)
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To: Perdogg

How many Snowballs can you fit into your mouth at once?


5 posted on 11/19/2012 12:21:11 PM PST by GSWarrior
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To: Perdogg

Can the judge force them to “mediate” with the union? That’s my impression.


6 posted on 11/19/2012 12:22:13 PM PST by Jean S
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To: Perdogg

Haven’t they already been though mediation....the result of which the union rejected?


7 posted on 11/19/2012 12:24:35 PM PST by O6ret
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To: Perdogg
An unopened box of 10 Twinkies is selling for an average price on Ebay for about 30 bucks. That's with a singles pack of snowballs as a kicker.
8 posted on 11/19/2012 12:25:29 PM PST by 4yearlurker (No matter who you elect,the government eventually gets in.)
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To: Jean S

Bankruptcy judges have a pretty wide swath of powers in the interests of the creditors and owners of a company.

The judge was able to impose the deal on the unions in the first place, which is why the Baker’s union went on strike. The Teamsters took the deal, the bakers balked.

What the judge cannot do is force the owners or investors to toss in more money than they already have (at least to my knowledge of BK law).

Here, the judge can try to mediate a deal under the notion that by so doing, there’s a chance at preserving investor capital and creditor principle.


9 posted on 11/19/2012 12:26:16 PM PST by NVDave
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To: Doogle

This is hilarious.


10 posted on 11/19/2012 12:28:15 PM PST by DoughtyOne (Hurricane Sandy..., a week later and 48 million Americans still didn't have power.)
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To: NVDave

Thanks Dave.


11 posted on 11/19/2012 12:29:46 PM PST by Jean S
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To: NVDave

Haven’t seen any “Will Work for Twinkies” signs.....

Guess it would be too ambiguous, like “Will Work for Fairies”?


12 posted on 11/19/2012 12:30:51 PM PST by treetopsandroofs (Had FDR been GOP, there would have been no World Wars, just "The Great War" and "Roosevelt's Wars".)
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To: Perdogg
Sounds like the judge wants to force them to stay in business despite the fact that they will be operating at a loss.

Ignorance of basic accounting principles is bliss.

For the ignorant.

13 posted on 11/19/2012 12:32:19 PM PST by E. Pluribus Unum (Government is the religion of the psychopath.)
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To: treetopsandroofs

They wanna work for Barney Frank?


14 posted on 11/19/2012 12:32:22 PM PST by COBOL2Java (The GOP-e said "Beat a Marxist with a Liberal!" What a colossal blunder.)
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To: Perdogg

They have been mediating since April.

Looks like Hostess is giving them the heave-Ho-Ho.


15 posted on 11/19/2012 12:32:37 PM PST by exit82 ("The Taliban is on the inside of the building" E. Nordstrom 10-10-12)
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To: Perdogg; a fool in paradise; Slings and Arrows

So, what’s Twinkie’s Defense?


16 posted on 11/19/2012 12:33:06 PM PST by Revolting cat! (Bad things are wrong! Ice cream is delicious!)
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To: DoughtyOne

” Bakery, Confectionery, Tobacco Workers and Grain Millers International union”

Good Lord!!

Are Hookers covered in this union too ?


17 posted on 11/19/2012 12:36:11 PM PST by stephenjohnbanker
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To: Perdogg

Unions tap made judge.....


18 posted on 11/19/2012 12:37:18 PM PST by Vaduz
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To: stephenjohnbanker

Well my take on things is that when you join a union your status changes, so this is rather academic for me. ;^)


19 posted on 11/19/2012 12:44:16 PM PST by DoughtyOne (Hurricane Sandy..., a week later and 48 million Americans still didn't have power.)
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To: GSWarrior

Well at least we still gots RC Cola and MoonPies for lunch!


20 posted on 11/19/2012 12:45:44 PM PST by Red_Devil 232 (VietVet - USMC All Ready On The Right? All Ready On The Left? All Ready On The Firing Line!)
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