Posted on 11/16/2012 9:33:44 AM PST by LucianOfSamasota
UPDATE: Twinkies-maker Hostess Brands says it has asked court to allow it to close its business and sell its iconic brands.
PREVIOUS STORY:
NEW YORK -- Is this the end for Twinkies?
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 wptv.com ...
Another company will buy the brand names and recipes and produce them, they won’t need the factories or workers.
Unions tend to be parasites which ultimately destroy their hostesses.
I seriously doubt the 18,000 are part of the one-percenters.
Twentieth Century Twinkies....
ROFL.....NO, mr union prez., there's MORE...as in "your unemployed" big mouth....lol.
some people are just so damned dense.
Congratulation union bastards. Have been a member of unions in the past as a condition of employment. Never gave them a moment of support. Corrupt, always.
Congratulation union bastards. Have been a member of unions in the past as a condition of employment. Never gave them a moment of support. Corrupt, always.
The Teamster union recommended, after looking at Hostess’ books, that the worker’s union accept this contract. But I guess they decided not to.
Unions tend to be parasites which ultimately destroy their hostesses.
_________________________________________________________
Nice one.
I’m upset I’m losing part of my childhood.......but I’d REALLY be ticked if they come after my Moon Pies.
“Hostess says Twinkies Liquidated.” I like my headline better. Or
“Snack Food Baker Says Union A Taker, Business No Money Maker, Threats No Faker.”
The "Wall Street vulture capitalists in control of this company" will probably still walk away with millions of dollars in the liquidation, with the left hand selling the assets to the right hand, and then hiring new non-union workers. The Bakers Union is committing suicide here, but the Teamsters will feel it the most.
The sad part of this story is there were probably many union members who wanted to take the deal offered by management.
Does this mean all pensions currently active and those still accruing go tits up?
Frankly, I’m WAAAYY beyond caring about these Union Workers no longer having a job. They can enjoy their 99 weeks and free Medicare, then feign an injury and draw disability. Twinkies can be produced in Mexico for all I care.
And now they'll be parasites upon all of us, getting welfare, section 8, food stamp EBTs, Obamaphones...
Well, there's at least one union guy whose cushy job won't be affected.
“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.”
Frank Hurt sez, “Let them eat cake”. Now 18,000 people have nothing. Good job Frankie.
Don’t bet on it. The Seattle Times talked to some strikers at the Hostess factory here, they are true believers. Can you say Jonestown? Such moron’s.
I wish I had a spare million or two, I’d buy the assets and move them to a right to work state!
Idiot headline writer at work. They filed for bankruptcy some time back.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.