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Hostess says liquidation decision expected Friday (Going Galt)
San Francisco Chronicle ^ | November 15, 2012 | AP

Posted on 11/15/2012 4:35:49 PM PST by Navy Patriot

Hostess Brands Inc. said it likely won't make an announcement until Friday morning on whether it will move to liquidate its business, after the company had set a Thursday deadline for striking employees to return to work.

The maker of Twinkies, Ding Dongs and Wonder Bread had warned employees that would file a motion in U.S. Bankruptcy Court to unwind its business and sell off assets if plant operations didn't return to normal levels by 5 p.m. EST Thursday. That would result in the loss of about 18,000 jobs.

Snip

The Teamsters meanwhile are urging the smaller union to hold a secret ballot on whether to continue striking. Citing its financial experts who had access to the company's books, the Teamsters say that Hostess' warning of liquidation is "not an empty threat or a negotiating tactic" but a certain outcome if workers continue striking.

(Excerpt) Read more at sfgate.com ...


TOPICS: Business/Economy; Culture/Society; News/Current Events
KEYWORDS: bankrupt; closing; galt; hohos; hostess; liquidation; twinkies; union
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To: Navy Patriot

It’s official...suspending baking operations...18,500 layoffs. I may pick up a few Ho-Ho’s or Twinkies for old times sake!

http://abcnews.go.com/Business/twinkies-maker-hostess-liquidate-company-strike/story?id=17736898#.UKYv4qV1P8s


121 posted on 11/16/2012 4:28:03 AM PST by Drago
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To: cableguymn

They won’t have to copy it now. It’s for sale.................


122 posted on 11/16/2012 6:49:16 AM PST by Red Badger (Lincoln freed the slaves. Obama just got them ALL back......................)
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To: Tublecane

From the website:

http://www.hostessstrike.info/

Hostess Brands issued the following statement today:

Some of our employees who are on strike have expressed the desire to come back to work, but they have also expressed concern about the $140.00 daily fine the Bakers Union has threatened to impose on employees who cross a picket line. The employees are being misinformed that the fine will be taken out of their paychecks.

We want to be clear: Hostess Brands does not provide a payroll deduction for any fine a union may decide to impose on our employees.


123 posted on 11/16/2012 6:50:30 AM PST by Red Badger (Lincoln freed the slaves. Obama just got them ALL back......................)
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To: BBell; radioone; CatOwner

Now to the tune of “the witch is dead”: Ding Dong, the Ding Dong’s dead, the tasty Ding Dong is Dead!.


124 posted on 11/16/2012 8:03:08 AM PST by GreyFriar (Spearhead - 3rd Armored Division 75-78 & 83-87)
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To: NVDave
If Bimbo doesn’t buy the Hostess assets, I don’t know who will.

You bring up important facts making recovery that much more difficult, but well known brand names and popular products tend to return eventually.

125 posted on 11/16/2012 10:24:39 AM PST by Navy Patriot (Join the Democrats, it's not Fascism when WE do it, and the Constitution and law mean what WE say.)
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To: Twinkie

Twinkies: the All-American junk food

http://www.reuters.com/article/2012/11/16/us-hostess-bankruptcy-twinkies-idUSBRE8AF19820121116


126 posted on 11/16/2012 11:34:03 AM PST by Uncle Chip
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To: null and void
The jobs will come back, only they'll be in right-to-work states.

They should use the unionRAT labor to pack up the plants lock, stock and barrel, and ship it to the new locations in the right to work states.

(of course they wouldn't want to tell the morons)

127 posted on 11/16/2012 9:01:34 PM PST by ROCKLOBSTER (Celebrate "Republicans Freed the Slaves" Month)
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To: ROCKLOBSTER
They should use the unionRAT labor to pack up the plants lock, stock and barrel, and ship it to the new locations in the right to work states.

It is against federal law to move a production location to avoid the use of union labor.

It happens all the time, of course. But there has to be another compelling reason that can be used to justify the move. I've been involved in such a move -- from Illinois to Alabama -- and the reason we used was "take advantage of efficiencies by being closer to the source of raw materials".

But a transparent move to avoid union labor is sure trouble with the feds. Moreso now than it was then, I'm sure. Ask Boeing...

128 posted on 11/16/2012 9:18:21 PM PST by okie01 (THE MAINSTREAM MEDIA; Ignorance on parade.)
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