Hostess Brands- It’s Over

Hostess Brands- It’s Over

The New York Times Dealbook blog reports that the emergency mediation talks between Hostess Brands and its Bakery Workers Union have failed. Liquidation now appears inevitable.

Bankruptcy judge Robert Drain arranged the negotiations in a last ditch effort to save the troubled company, but to no avail:

“It’s over,” said David Durkee, secretary-treasurer of the Bakery, Confectionery, Tobacco Workers and Grain Millers Union.

Unlike the Teamsters, the union would not accept a concessionary contract and continues to blame management for the company’s problems.

In all likelihood, the court will now oversee the breakup of the company and the sale of individual pieces to interested competitors. There is considerable value in the Hostess collection of brands, but it is highly unlikely that steep job losses in the company’s 18,500 strong workforce can be avoided.

A sad Thanksgiving, indeed.

 

Photo credit: Larry D Moore via Wikipedia

 

 

Get Free Email Updates!

Signup Now to Receive Updates and Alerts!

We will never give away, trade or sell your email address. You can unsubscribe at any time.

Retired from American Airlines after a 34 year career in corporate treasury management. Professional income tax preparer. Graduate of Georgetown University (BS Foreign Service) and The University of Texas at Arlington (MBA). Contributor to TMR since 2007. Host of "Italian Tomatoes" show on Blog Talk Radio. I am a center-right Republican with a passion for business, history and current affairs. Go to Blog Talk Radio to listen to my latest show The Job Search Experience

More in

15-0328 Apple_I_Computer

Apple Solves Relationship Problems and Destroys the Need for Feminism

Michael BeckerMar 28, 2015
Former U.S. Secretary of State Hillary Clinton speaks during a news conference at the United Nations in New York

Clinton Lawyer to Trey Gowdy: We Wiped Hillary’s Email Server. Ha Ha Ha.

Michael BeckerMar 28, 2015
15-0328 Hillary email 2

Here’s Two Reasons Why Hillary’s Email Server Was Scrubbed

Michael BeckerMar 28, 2015
Article-II

A Call For Removal

Frank McHaleMar 28, 2015
15-0328 Deadbeat Dad

Man Forced to Pay Child Support for a Child DNA Says Isn’t His

Michael BeckerMar 28, 2015
U.S. Agents Take Undocumented Immigrants Into Custody Near Tex-Mex Border

Texas County Spends Half Its Budget On Dealing With Bodies of Dead Illegals

Michael BeckerMar 28, 2015

The Minority Report is a network of websites devoted to Conservative & Libertarian politics in the United States. In 2014 the network had over 20 million page views!

On this site you'll find posts & links to some of the best and most comprehensive center-right news and opinion on the net...

November 2012
M T W T F S S
« Oct   Dec »
 1234
567891011
12131415161718
19202122232425
2627282930  

Archives

Copyright © 2014 The Minority Report Network