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Hostess to liquidate if bakers' strike continues through Thursday (18,000 jobs)
cnn money ^ | 11/14/2012 | By James O'Toole

Posted on 11/14/2012 4:45:23 PM PST by tobyhill

Hostess Brands said Wednesday that it will go into liquidation unless bakers striking in protest against a new contract imposed in bankruptcy court return to work by the end of the day Thursday.

"We simply do not have the financial resources to survive an ongoing national strike," Hostess CEO Greg Rayburn said in a statement.

The liquidation would result in Hostess' nearly 18,000 workers losing their jobs. The bakers' union represents around 5,000.

The union did not immediately respond to a request for comment Wednesday, but has called the concessions demanded in the new contract "outrageous."

"Our members are on strike because they have had enough," bakers' union president Frank Hurt said in a statement Tuesday. "They are not willing to take draconian wage and benefit cuts on top of the significant concessions they made in 2004 and give up their pension so that the Wall Street vulture capitalists in control of this company can walk away with millions of dollars."

(Excerpt) Read more at money.cnn.com ...


TOPICS: Breaking News; Business/Economy; News/Current Events
KEYWORDS: bakery; bankruptcy; classenvy; classwarfare; dingdongs; failure; frankhurt; gregrayburn; hostess; hostessbrands; jobs; layoffs; liquidation; marxism; obama; obamanomics; recovery; strike; stuckonstupid; twinkies; union; unions; unionthugs
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To: Figment

About to pop open a Bluebird Bakeries banana pudding cupcake and cry some crocodile tears for the bakers union. Bluebird Bakeries is out of Georgia, a right to work state


81 posted on 11/14/2012 7:29:36 PM PST by Figment
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To: Cringing Negativism Network

Sadly it’s the only way to stop Obamacare costs for most companies .
That are trying to survive and compete on the world stage .
Hostess has a right to survive and leave if the Marxists union fools imare trying to destroy them .


82 posted on 11/14/2012 7:48:31 PM PST by ncalburt (Axelrod Psych OPS has gone to 24/7 non stop - "The election is over " status until Nov)
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To: Jeff Chandler

I was on a jury for a month, and the guy who proffered that defense was part of the defense team. The whole jury thought he was full of s***...


83 posted on 11/14/2012 7:49:39 PM PST by Axenolith (Government blows, and that which governs least, blows least...)
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To: Tucker39

I’m would love to see Little Debbie buy their factories and brand names at dirt cheap prices and put the non-union workers back on line.

The union greed is over.


84 posted on 11/14/2012 7:58:33 PM PST by eyedigress ((zOld storm chaser from the west)/?)
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To: RightField
I'm going to add a half-dozen packages of the orange cupcakes to my grocery purchases tomorrow. I do love those nasty things.

I see em on the shelf. I figured somebody must like those orange cupcakes. Wow, had one once and that was enough. You are supposed to eat the chocolate ones. In fact.....

I'm heading to the store right now!


85 posted on 11/14/2012 8:39:51 PM PST by gunsequalfreedom (Conservative is not a label of convenience. It is a guide to your actions.)
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To: E. Pluribus Unum

Wonder Bread is a reasonably-priced bread. Affordable for those on a budget.


86 posted on 11/14/2012 9:22:04 PM PST by Ciexyz
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To: driftdiver
Zombieland comes to mind.

First thing that came to my mind, too.

87 posted on 11/14/2012 9:22:53 PM PST by Alex Murphy ("If you are not firm in faith, you will not be firm at all" - Isaiah 7:9)
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To: tobyhill

Obamanation Communism File.


88 posted on 11/14/2012 9:26:24 PM PST by Graewoulf ((Traitor John Roberts' Obama"care" violates Sherman Anti-Trust Law, AND the U.S. Constitution.))
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To: tobyhill
"Our members are on strike because they have had enough," bakers' union president Frank Hurt said in a statement Tuesday. "They are not willing to take draconian wage and benefit cuts on top of the significant concessions they made in 2004 and give up their pension so that the Wall Street vulture capitalists in control of this company can walk away with millions of dollars."


89 posted on 11/14/2012 9:54:18 PM PST by Dr.Deth
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To: Arthurio

I agree. Unless these brands are so old, as I am, that they can’t sell to anyone anymore. I don’t eat sweets, or cookies, etc. so I don’t know if they are even still in grocery stores.

Clearly on an aisle I don’t go down. I’d imagine along with breakfast stuff, syrup, etc. Not in the “snack” aisle at the stores I go to.


90 posted on 11/14/2012 10:14:04 PM PST by Fledermaus (The Republic is Dead: Collapse the system. Let the Dems destroy the economy!)
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To: tobyhill
"Tell him about the Twinkee"

"What about the Twinkee?"


91 posted on 11/14/2012 10:22:28 PM PST by Fledermaus (The Republic is Dead: Collapse the system. Let the Dems destroy the economy!)
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To: carriage_hill
Sooooooo, now 18,000 people go onto UC, dumbass union thugs. Good move, morons!

Unions are typical Democrats - even during tough times, they want to be fully insulated from the pain and are willing to totally screw themselves and others to vote their "principles".

92 posted on 11/15/2012 3:49:32 AM PST by trebb (Allies no longer trust us. Enemies no longer fear us.)
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To: tobyhill

Isn’t unemployment a “draconian wage and benefit cut” enough for these people?


93 posted on 11/15/2012 3:53:50 AM PST by GatorGirl (Who is John Galt?)
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To: Ciexyz

Affordable? It’s $2.69 a loaf out here, and never goes on sale cheaper than two bucks. I can buy a 20oz loaf from Aldi for $.79, and it isn’t stuffed with HFCS.


94 posted on 11/15/2012 4:32:01 AM PST by Eepsy
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To: dfwgator

Ho Ho Ho HO HO


95 posted on 11/15/2012 7:03:35 AM PST by Homer1
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To: tobyhill

Any worker who goes on strike deserves to loose their job and have it filed by someone who wants to work. They can re-apply after the strike is over, but be put at the bottom of the pile.


96 posted on 11/15/2012 9:52:55 AM PST by matt04
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To: tobyhill
How long before Obama declares the Twinky a national treasure, seizes Hostess and gives the company to the unions ahead of bond or stock holders?

-PJ

97 posted on 11/15/2012 9:58:14 AM PST by Political Junkie Too (If you are the Posterity of We the People, then you are a Natural Born Citizen.)
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To: tobyhill

They should have moved their bakeries, not just their headquarters to Irving TX


98 posted on 11/15/2012 10:16:22 AM PST by GeronL (http://asspos.blogspot.com)
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99 posted on 11/15/2012 10:21:55 AM PST by RedMDer (May we always be happy and may our enemies always know it. - Sarah Palin, 10-18-2010)
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To: carriage_hill

The dumb ass union won’t believe the company about liquidation, and they will be without a job. Happened in Carlisle Pa a few years ago with Fruehauf Corp. They built Tractor Trailers. The employees believed the union leadership and were stunned when the company closed its doors and went out of business.


100 posted on 11/15/2012 10:21:58 AM PST by Roklok
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