If anything, the dissolution of Hostess will open up some C-Store shelf space for regionally produced treats.
What kind of union plays this kind of chicken with their employees' jobs? The article went on to say that they will file a motion tomorrow to liquidate, hopefully get it approved by Monday and shut down on Tuesday.Hostess to Liquidate if Strikes Impede Normal Operations Past 5 p.m., EST, Thursday
November 14, 2012
Irving, TX – November 14, 2012 – Hostess Brands Inc. announced today that it will file a motion with the U.S. Bankruptcy Court on Friday to liquidate the entire Company if enough striking employees do not return to work by 5 p.m., EST, Thursday to enable the Company to resume normal operations. The strikes were called on November 9 by the Bakery, Confectionery, Tobacco Workers and Grain Millers Union (BCTGM).
“We simply do not have the financial resources to survive an ongoing national strike,” said Gregory F. Rayburn, the Company’s Chairman and CEO. “Therefore, if sufficient employees do not return to work by 5 p.m., EST, on Thursday to restore normal operations, we will be forced to immediately move to liquidate the entire Company, which will result in the loss of nearly 18,000 jobs. It is now up to Hostess’ BCTGM represented employees and Frank Hurt, their international president, to decide if they want to call off the strike and save this Company, or cause massive financial harm to thousands of employees and their families.”
Whose interests are being served here? Whose? One might say "the union's." But they lose 7,000 dues-paying members.
Thank you, Quazi!
What I'd like to know is what kind of cuts the executives are facing. Is the idea of shared sacrifice dead in America, or is it all a "we win, you lose" mentality?
I'd certainly be suspect if there's still executives up the wazoo raking it in and asking the workers to take the cuts. For example, does the CEO's secretary have a secretary? You can laugh if you want, but trust me this sort of **** happens. Then they blame their own mismanagement on the employees. Union or not.
Semper Fidelis, Semper Liber.
Stolen fair and square from the Capt. Courtesey himself.I spit at lots of people through my computer screen. Not only does it "teach them a lesson" but it keeps the screen clean and shiny.