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Thread: Hostess threatens to lay off 18,000 employees unless strike ends[W:521]

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    re: Hostess threatens to lay off 18,000 employees unless strike ends[W:521]

    Quote Originally Posted by cpwill View Post
    Venture Capital is generally start up firms, or small firms. That's why it's called Venture Capital. However, if you have any evidence of your interesting assertion, I would be happy in hearing it.

    Interesting how you seem to have some kind of mirror image of the strawman you accused others of. It must be bad management because unions never make impossible demands
    The 8% pay cut that was offered by Silver Point Capital was too much for the membership to stomach. They voted overwhelmingly against it. Unions are people, please at least try to remember that.
    There may be a glitch in Silver point's plan though. A bankruptcy judge will need to approve any liquidation. I hope those books are gone over with a fine tooth comb.

    Meanwhile peruse their website, They are a " registered investment adviser focused on credit and special situations investments."

    https://www.silverpointcapital.com/
    Last edited by iguanaman; 11-17-12 at 01:56 AM.

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    re: Hostess threatens to lay off 18,000 employees unless strike ends[W:521]

    Quote Originally Posted by iguanaman View Post
    The 8% pay cut that was offered by Silver Point Capital was too much for the membership to stomach. They voted overwhelmingly against it. Unions are people, please at least try to remember that.
    There may be a glitch in Silver point's plan though. A bankruptcy judge will need to approve any liquidation. I hope those books are gone over with a fine tooth comb.

    Meanwhile peruse their website, They are a " registered investment adviser focused on credit and special situations investments."

    https://www.silverpointcapital.com/
    I love how you believe the judicial system can prevent Hostess from liquidating their assets and selling their brand name.

    They can go through as many books as they like - that won't stop Hostess from liquidating....

    Besides, it was only a matter of time before this was bound to happen....

    This is a perfect example of "who is John Galt?"

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    re: Hostess threatens to lay off 18,000 employees unless strike ends[W:521]

    Quote Originally Posted by AdamT View Post
    The employees are the union....
    That was never my experience working under the union. The union is a leach that forces the workers to pay them with their hard earned money, while doing absolutely nothing in return to earn those "dues". The union is an obsolete construct, made worthless by the introduction of federal workers rights laws.
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    re: Hostess threatens to lay off 18,000 employees unless strike ends[W:521]

    Quote Originally Posted by Surtr View Post
    That was never my experience working under the union. The union is a leach that forces the workers to pay them with their hard earned money, while doing absolutely nothing in return to earn those "dues". The union is an obsolete construct, made worthless by the introduction of federal workers rights laws.
    I worked as a machine operator under a labor union for a few years. I agree with you 100%, but I would also like to add that my fellow coworkers would get extremely pissed when people started working hard. In short if my quota was 120 pieces (I worked in steel fabrication) and I produced 150 they would continually tell me to slow down because they didn't want the part quotas to go up.... They were generally slackers. They had us on a point system which allowed us to get away with just about anything. Hell, if I really wanted to I could show up drunk and late and not get fired (many guys showed up drunk/high). If you wanted to you could just not show up at all or leave whenever you wanted. The rules were pretty simple - you get 20 points, if you miss a day it will cost you 2 points, if you're late or leave early it will cost you 1 point. Oh, then they would give you 2 points back every 60 days if you lost no points.

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    re: Hostess threatens to lay off 18,000 employees unless strike ends[W:521]

    Quote Originally Posted by Mr.Nick View Post
    I worked as a machine operator under a labor union for a few years. I agree with you 100%, but I would also like to add that my fellow coworkers would get extremely pissed when people started working hard. In short if my quota was 120 pieces (I worked in steel fabrication) and I produced 150 they would continually tell me to slow down because they didn't want the part quotas to go up.... They were generally slackers. They had us on a point system which allowed us to get away with just about anything. Hell, if I really wanted to I could show up drunk and late and not get fired (many guys showed up drunk/high). If you wanted to you could just not show up at all or leave whenever you wanted. The rules were pretty simple - you get 20 points, if you miss a day it will cost you 2 points, if you're late or leave early it will cost you 1 point. Oh, then they would give you 2 points back every 60 days if you lost no points.
    Sounds about right. I negotiated my own starting wages, brought issues and requests directly to my supervisors, and never had any problems because I did what was expected of me. If I didn't know what I was doing, I asked. Even if it made me look like a dummy, I still asked. I wanted to be the best I could at what I did. I'm just like that. If there's a low quota, I can fill it in no time and move on to the next task, I can work overtime, I can take on extra tasks. I can do whatever the hell my employer wants, when and how they want it done. Competitive non-unionized markets love workers like me, and unions ****ing hate me, which is just fine because non-union pays better, and offers greater benefits.
    I love the NSA. It's like having a secret fan-base you will never see, but they're there, watching everything you write and it makes me feel all warm and fuzzy inside knowing that I may be some person's only form of unconstitutional entertainment one night.

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    re: Hostess threatens to lay off 18,000 employees unless strike ends[W:521]

    Quote Originally Posted by Paschendale View Post
    And this is why unions exist. So that those who have money and power cannot exercise that power over everyone else with impunity.
    ROTFLOL... tell that to the unemployed this morning.

    Unions are usually highly unrealistic... this one had the ultimate reality check... Ugh...

    "What's in your wallet?"

    The owners have a few brands they can sell for top dollar... they can sell off equipment and buildings... and those brands will be produced in other states at a cheaper cost. Who the hell wants to stay in Kommunistika Kalifornia?
    Last edited by zimmer; 11-17-12 at 05:00 AM.
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    re: Hostess threatens to lay off 18,000 employees unless strike ends[W:521]

    Quote Originally Posted by winston53660 View Post
    The company could have continued had management done their job in the first place.
    The biggest company liability is the pension. Id say that falls under a mutual blame category. Management overpromised and the unions wanted too much.

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    re: Hostess threatens to lay off 18,000 employees unless strike ends[W:521]

    We opened a pack of "Sweet Sixteen" Hostess min chocolate covered donuts this AM. Last Hostess product we'll buy.

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    re: Hostess threatens to lay off 18,000 employees unless strike ends[W:521]

    Once again another group that had a initial good premise turned extreme. You can toss unions in with the NRA and the Sierra Club.

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    re: Hostess threatens to lay off 18,000 employees unless strike ends[W:521]

    Quote Originally Posted by OpportunityCost View Post
    The biggest company liability is the pension. Id say that falls under a mutual blame category. Management overpromised and the unions wanted too much.
    I don't see it that way, the company was wanting to treat it's employees the best they could, and not outsource to Mexico. In the end they found from severe competition they could not continue those pay packages. When the union was asked to downsize the pay packages they said "NO". Now the stupid greedy union workers are out of a job making nothing. And you can bet who ever takes over that company or moves it to Mexico, there will not be union workers at the plants. And if moved to Mexico it will not be American workers.
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