Posted on 11/20/2012 7:49:57 PM PST by Nachum
Last week, when discussing the next steps for the company, and specifically the hope that mediation may resolve the epic animosity between management and workers, we stated that "What makes a mediation improbable is that the antagonism between the feuding sides has certainly hit a level of no return: "Several unions also objected to the company's plans, saying they made "a mockery" of laws protecting collective bargaining agreements in bankruptcy. The Teamsters, which represents 7,900 Hostess workers, said the company's plan would improperly cut the ability of remaining workers to use sick days and vacation." Sure enough, moments ago we learned that mediation has now failed and the liquidation may proceed. And since in America nobody understands that proper sequence of events involved in a bankruptcy liquidation, where the valuable parts always end up being acquired by someone, in this case the Twinkie brand and recipe, let the pointless Ebay bidding wars over twinkies continue. As for what really happens next, if indeed Bimbo is prohibited from acquiring the assets in the Stalking Horse auction due to anti-trust limitations, then the buyer will almost certainly be a "financial", i.e., another PE firm, whose coming means the end of any hopes and dreams of preserving union status at fresh start Hostess, or whatever the new firm will be named.
From the WSJ:
Hostess Brands Inc. said Tuesday night it would proceed with liquidation plans after mediation fails.
Earlier Tuesday, the head
(Excerpt) Read more at zerohedge.com ...
I'm sure she'd be highly quailified for either position.
Her looks don’t qualify her for a bimbo.
Thomas muffins! That’s my fave brand.
LOL. OK, not in the classical sense. Maybe in the Clintonian sense...of course, he was interested in dating a 515 year old mummy :0)
Too bad about the suckers who fell for their scam, though. At least Sandy will provide a lot of used, wet cars for them to live in, so all is not lost.
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They make their stuff in the market that they are sold. They are the largest US bakery, and their stuff for the US is made in the US. They have 49 bakeries and most of their products are made in the same state they are delivered. There is no other way to get the stores fresh bread.
Does everyone really think they can make bread products in Mexico, drive them across the border and then proceed to deliver them all over the US and still manage to deliver fresh bread?
When those trucks begin moving from Medico to the US, I believe their transit is covered under NAFTA. My guess is the drivers are not in the union.
130K a year to drive a truck??? WOW. My uncle was a route guy driving a truck for 40 years and never made a third of that and his pay included commissions.
It’s been a long time since a union boss turned up dead but this bunch has done so much damage that some of these newly out-of-work guys just might not have their usual sense of humor.
Bread itself, no, but twinkies and ding-dongs, yes.
Entemanns (spelling?) bakery here in Chicagoland. The stuff is pretty darn good, delivered every morning to the market.
I don’t much care for the Bimbo brand sweets. Mexicans seem to have a different taste in sugary foods than we do.
I doubt they will change the flavor, look or whatever of hostess if they buy it. Word is now that a judge will rule they cannot buy it because of monopoly laws or something I had heard on the radio.
Watch for team Obama to basically give the company to the unions, and subsidize it for the next decade.
You can bet your sweet *** I’m never going to make any more smart*** remarks about Bimbo bread in the future. Sheeeee- IT! My good luck, Brad Keselowski, #2 Miller Lite Dodge T-shirt is full of holes now. LOL!
Yes, a crazy lib argued with me the other day- she was claiming that we don’t have troops in Iraq or Afghanistan any more. She snidely informed me that Obama had ended the terrible Bush wars and brought all our military home. I am sure she voted, likely more than once.
Most of those facilities and workers will not be needed, no matter who buys it.
BIMBO already has bread, all they need to do is slap “Wonder bread” on it.
After almost 2 years of being unemployed and underemployed ( and glad to have a job even if temporary) I am just having one heck of a time dredging up any sympathy for any of these union folks.
Your union boss got his and he got yours too. He was a greedy corporatist capitalist bastard all along. He’s probably got another job already.
At this rate there won’t be too many of us tax payers. Pray for our nation is all I can say.
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