Hostess Bankruptcy: Mediation Between Union, Company Breaks Down

[silvershadow]

Source: Huffington Post

Reuters reports that Hostess will not issue any further comment until a Wednesday hearing before a U.S. bankruptcy court. The company operates nearly three dozen bakeries and more than 550 distribution centers across the country.

"Many people have worked incredibly long and hard to keep this from happening, but now Hostess Brands has no other alternative than to begin the process of winding down and preparing for the sale of our iconic brands," CEO Gregory Rayburn said in a letter to employees posted on the company website Friday.

More from Reuters:


Read more: http://www.huffingtonpost.com/2012/11/20/hostess-bankruptcy-mediation_n_2168596.html

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No comment. :/

[MFM008]

1. grrr

. Just do it.

[railsback]

2. Futile attempt

The vultures have already divvied up the liquidation money. Upper management is ready for their payoffs for running Hostess into the ground. There NEVER was any chance of this working.

[Major Nikon]

5. The company was going to be run into the ground no matter what the union did

Hostess will be bought out by someone at a bargain price, along with the factories. All they are trying to do is force the workers into slitting their own wrists for the sake of a higher sale price.

[msongs]

3. America's real enemies are found in our corporate board rooms nt

[Iggy]

4. Hostess is a $2 BILLION

per year company.. being badly managed right into the ground, just like GM nearly was.

The notion you just can't work a deal with your union workers when you're pulling in $2 BIL a year is total nonsense. Gimme a break, please.

[Wellstone ruled]

6. All the workers pensions have been stollen,

now all that's left is the 1.5 billion debt. This is a typical Bain type Harvest.

[snappyturtle]

7. You betcha it is....Bain harvest, that is! They're chop shopping it like car thieves. nt

[dipsydoodle]

8. K & R

BBC link here : http://www.bbc.co.uk/news/business-20422192