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Hostess Mediation Fails, Liquidation To Proceed; Furious Laid Off Workers Now Turn On Labor Union
Zero Hedge ^ | 11/20/12 | Tyler Durden

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 ...


TOPICS: Front Page News; News/Current Events
KEYWORDS: hostess; labor; mediation; schadenfreude; union
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To: Nachum

121 posted on 11/21/2012 10:03:35 AM PST by RckyRaCoCo (I prefer liberty with danger to peace with slavery, IXNAY THE TSA!)
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To: NathanR
No. Not only is it pronounced “beembo”, but Ms. Flake is a slut, not a bimbo.

I'm sure she'd be highly quailified for either position.

122 posted on 11/21/2012 10:10:29 AM PST by COBOL2Java (The GOP-e said "Beat a Marxist with a Liberal!" What a colossal blunder.)
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To: COBOL2Java

Her looks don’t qualify her for a bimbo.


123 posted on 11/21/2012 10:12:56 AM PST by NathanR
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To: MondoQueen

Thomas muffins! That’s my fave brand.


124 posted on 11/21/2012 10:16:50 AM PST by Mamzelle
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To: NathanR
Her looks don’t qualify her for a bimbo.

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)

125 posted on 11/21/2012 10:20:27 AM PST by COBOL2Java (The GOP-e said "Beat a Marxist with a Liberal!" What a colossal blunder.)
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To: Nachum
The union big wings got their dues. That's all that matters. They have mansions to pay for, right? It's a matter of priority.

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.

126 posted on 11/21/2012 10:24:40 AM PST by concerned about politics ("Get thee behind me, Liberal")
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To: Cronos
Grupo Bimbo makes their stuff for the Mexican market. Most likely they’ll buy the rights to the brand in NA and then manufacture the stuff in Mexico to sell north of the border. Bye, bye union jobs...

**********************************************

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?

127 posted on 11/21/2012 10:26:03 AM PST by kara37
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To: Zhang Fei

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.


128 posted on 11/21/2012 10:29:57 AM PST by Mouton (Voting is an opiate of the electorate. Nothing changes no matter who wins..)
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To: Nachum

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.


129 posted on 11/21/2012 10:40:59 AM PST by cherokee1 (skip the names---just kick the buttz)
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To: kara37

Bread itself, no, but twinkies and ding-dongs, yes.


130 posted on 11/21/2012 10:42:54 AM PST by Cronos (**Marriage is about commitment, cohabitation is about convenience.**)
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To: Nachum; F15Eagle; Larry Lucido

A mystery wrapped in a twinkie.

131 posted on 11/21/2012 11:10:58 AM PST by Gamecock (Bayonets, Benghazi, Balls, Binders, Big Bird, Birth Control, BS.....)
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To: MondoQueen

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.


132 posted on 11/21/2012 11:45:41 AM PST by esoxmagnum (The rats have been trained to pull the D voting lever to get their little food pellet)
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To: Nachum

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!


133 posted on 11/21/2012 11:46:10 AM PST by FlingWingFlyer (Amnesty - Obama's bailout of Mexico. Barry sticks it to America again!)
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To: Kickass Conservative

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.


134 posted on 11/21/2012 12:16:30 PM PST by Tammy8 (~Secure the border and deport all illegals- do it now! ~ Support our Troops!~)
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To: Nachum

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.


135 posted on 11/21/2012 12:58:30 PM PST by GeronL (http://asspos.blogspot.com)
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To: Nachum
You mean the union numbnutz ACTUALLY believed they would get jobz with a new company that will buy Hostess?


136 posted on 11/21/2012 2:12:45 PM PST by Lmo56 (If ya wanna run with the big dawgs - ya gotta learn to piss in the tall grass ...)
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To: Zhang Fei

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.


137 posted on 11/21/2012 2:19:25 PM PST by spudville
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To: Nachum

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.


138 posted on 11/21/2012 2:34:27 PM PST by RedwM
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To: Nachum

At this rate there won’t be too many of us tax payers. Pray for our nation is all I can say.


139 posted on 11/21/2012 3:09:04 PM PST by Alissa
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To: Nachum
S U C K E R S !

140 posted on 11/21/2012 3:13:31 PM PST by unixfox (Abolish Slavery, Repeal The 16th Amendment!)
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