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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 iguanaman View Post
    When your host has become a blood sucking vampire what choice do you have?
    quit and work for a non-vampire. If your description is correct, then the vampire will soon be out of business, and you will help that by working for its' competitors.

    The difference is that the Govt. is financing the vampires.
    In some cases, yes. Any time you want to join conservatives in calling for an end of government bailouts and picking of winners and losers, let me know.

    This is the second paycut they have been asked to bear in 3 years, the Hostess executives have gotten raises every year.
    Actually management took a pay cut.

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

    Quote Originally Posted by Fisher View Post
    Sounds to me like the Bakers were getting the same offer as the Teamsters but said no.
    That is what the Teamsters said, in not-too-terribly-specific-but-still-pointed language.

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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
    That is what the Teamsters said, in not-too-terribly-specific-but-still-pointed language.
    This is something that should have come to light sooner.
    Here is the Baker's Union employee take. It also defines the "vulture capitalists" more clearly and defines the management and Corporate directions.

    Daily Kos: The Successful Hostess Business Plan Included Bankruptcy/updated w/wages language

    "How about $2.4 BILLION.
    Joshua Scherer, a partner at Perella Weinberg Partners, a Hostess advisor said it could be worth $2.3 billion to $2.4 billion, an amount equal to its annual revenue. It also has about $900 million of secured debt and faces up to about $150 million of administrative claims.

    Correct me if I'm wrong, but does that mean they owe $1.05Billion (which does not include my pension) and may sell for $2.4 Billion. That would be a profit of $1.35Billion.

    These hedge funds were not bakers, they were bankers. They will make money on their 14 year endeavor. 100's of millions no doubt, over a billion dollars possible. Their goal was to break the Unions and sell off the brands from the beginning. By that measure, this CEO deserves a raise."

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

    Quote Originally Posted by DaveFagan View Post
    This is something that should have come to light sooner.
    Here is the Baker's Union employee take. It also defines the "vulture capitalists" more clearly and defines the management and Corporate directions.

    Daily Kos: The Successful Hostess Business Plan Included Bankruptcy/updated w/wages language

    "How about $2.4 BILLION.
    Joshua Scherer, a partner at Perella Weinberg Partners, a Hostess advisor said it could be worth $2.3 billion to $2.4 billion, an amount equal to its annual revenue. It also has about $900 million of secured debt and faces up to about $150 million of administrative claims.

    Correct me if I'm wrong, but does that mean they owe $1.05Billion (which does not include my pension) and may sell for $2.4 Billion. That would be a profit of $1.35Billion.

    These hedge funds were not bakers, they were bankers. They will make money on their 14 year endeavor. 100's of millions no doubt, over a billion dollars possible. Their goal was to break the Unions and sell off the brands from the beginning. By that measure, this CEO deserves a raise."
    Interesting find...note how similar this is to: http://www.debatepolitics.com/us-par...post1061180082

    And the author's name is the same...huh? I find this more and more specious in all directions.
    "The fact that we are here today to debate raising America's debt limit is a sign of leadership failure" - 2006 Senator Obama...leadership failure indeed!

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

    Quote Originally Posted by Dickieboy View Post
    Interesting find...note how similar this is to: http://www.debatepolitics.com/us-par...post1061180082

    And the author's name is the same...huh? I find this more and more specious in all directions.
    I posted it because it simplifies the Vulture Capitalists position as it regards Hostess and its future. It is all legal, but no committment to the company, just the bottom line. It's a standard business plan and much too common. I see Corporations raping pension and healthcare funds all over the country and personally feel it should be illegal, but it definitely is not or at least has not been prosecuted. New CEOs say that the pensions are overfunded, buy an annuity to replace it and pocket the difference. Same with healthcare. Most employees feel that their pensions and healthcare were often inferred to be inviolable and suddenly Voila! The rug is pulled out. There is a bigger picture here than just Corporate profits and it is the conjoined welfare of Company/employee going forward. The vulture capitalist camp goes forward as Company/employee enemies from step one. Many times the Unions do the same thing. It's a two way street that needs a traffic cop. The result bears fruit.

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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
    quit and work for a non-vampire. If your description is correct, then the vampire will soon be out of business, and you will help that by working for its' competitors.
    Good call! It seems to me this is exactly what happened here....

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

    Quote Originally Posted by upsideguy View Post
    Good call! It seems to me this is exactly what happened here....
    ...except that when you do so en masse you can destroy the business - which is what seems to have happened here. If the workers claims were correct, they will be snapped up by competitors in the industry at the compensation packages they demanded. If the workers claims are not correct, then they will either go on unemployment or take positions with lower compensation.

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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
    ...except that when you do so en masse you can destroy the business - which is what seems to have happened here. If the workers claims were correct, they will be snapped up by competitors in the industry at the compensation packages they demanded. If the workers claims are not correct, then they will either go on unemployment or take positions with lower compensation.
    If Hostess were a viable business with good management, this would have been worked out. But it wasn't; so it is no more.

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

    Quote Originally Posted by upsideguy View Post
    If Hostess were a viable business with good management, this would have been worked out. But it wasn't; so it is no more.
    Show us how it's done then. Go buy the brand, talk to the union with a contract that will get them back to work and keep the company profitable.
    Neither side in an argument can find the truth when both make an absolute claim on it.

    LMR

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

    Quote Originally Posted by LaMidRighter View Post
    Go buy the brand, talk to the union with a contract that will get them back to work and keep the company profitable.
    If I had the money or the ability to get backed for that money I would.

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