Unions Take down another company!

The Dude said:
You two working class stiff are attacking the poor. I'm attacking you losers.
It's understandable to be upset when the get your job.
Should have gotten an education.
Click to expand...
You didn't learn to spell at college?

Union workers are rarely poor.
You are CLULESS!

Jingle jangle, now then now then!
 
Damocles said:
That wasn't what they were striking about. However, striking to obtain more than the company can afford can bankrupt a company, it happened here.
Click to expand...

No, it didn't. Get your facts in order. The workers should be compensated for their remarkable increases in productivity and prior concessions. Have you any idea what the top 10 Hostess managers gave themselves in compensation in the last two years alone? Do a little research.
 
patriot66 said:
http://money.cnn.com/2012/11/16/news/companies/hostess-closing/

Hostess Brands closing for good
By Chris Isidore and James O'Toole @CNNMoney November 16, 2012: 11:53 AM ET

63
Email Print

NEW YORK (CNNMoney) -- Hostess Brands -- the maker of such iconic baked goods as Twinkies, Drake's Devil Dogs and Wonder Bread -- announced Friday that it is asking a federal bankruptcy court for permission to close its operations, blaming a strike by bakers protesting a new contract imposed on them.

The closing will result in Hostess' nearly 18,500 workers losing their jobs as the company shuts 33 bakeries and 565 distribution centers nationwide, as well as 570 outlet stores. The Bakery, Confectionery, Tobacco Workers and Grain Millers International Union represents around 5,000 Hostess employees.

"We deeply regret the necessity of today's decision, but we do not have the financial resources to weather an extended nationwide strike," said CEO Gregory Rayburn in a statement.

Hostess will move to sell its assets to the highest bidder. That could mean new life for some of its most popular products, which could be scooped up at auction and attached to products from other companies.

A letter that Hostess sent to its network of stores that carry its product said it expects "there will be great interest in our brands." But it said it could not give a time frame for when the sales would take place and its products would be available again.

But even if those brands are bought and restarted, the Hostess workers will not get their jobs back.

"The industry has overcapacity. We're overcapacity. Our rivals are overcapacity," said Rayburn in an interview on CNBC. Asked if the shutdown decision could be reversed if the Bakers' union agreed to immediately return to work, he responded, "Too late."

While approval of the bankruptcy court is needed before the company can start selling its assets in liquidation, the company said production at all of its bakeries has ceased effective Friday, and that stores will no longer receive products from Hostess Brands after the final round of deliveries of products that were made Thursday night.

But products that are already in stores can be sold, and the outlet stores will remain open for about a week to sell the products they already have.

Related: Cake Wreck -- From icon to bust

Hostess had annual sales of about $2.5 billion. The company said it had been making 500 million Twinkies and 127 million loaves of Wonder Bread annually before Friday's shutdown.

Its bread brands, including Wonder Bread, Nature's Pride and Butternut, make the company the No. 2 bread baker in the country, according to Symphony/IRI Group. Bimbo Bakeries, maker of the Arnold and Stroehmann brands, is the No. 1 bread baker.

The company had given a 5 p.m. ET Thursday deadline for the bakers to return to work or face a shutdown of the company. The unions at Hostess could not be reached immediately for comment on the decision.

Hostess filed for bankruptcy in January, its second trip to bankruptcy court since 2004. It previously emerged from restructuring in 2009 after a four-and-a-half year process.

Related: The history of labor battles at Hostess

The company is now controlled by a group of investment firms, including hedge funds Silver Point Capital and Monarch Alternative Capital.

In September, membership of one of its major unions, the International Brotherhood of Teamsters, voted narrowly to accept a new contract with reduced wages and benefits. The Bakers' union rejected the deal, however, prompting Hostess management to secure permission from a bankruptcy court to force a new concession contract on workers.

The Teamsters union, which represents 6,700 Hostess workers, issued a statement blaming mismanagement by Hostess executives for the company's problems. But it also was critical of the decision of Bakers' union, although it did not identify the union by name.

"Unfortunately, the company's operating and financial problems were so severe that it required steep concessions from a variety of stakeholders but not all stakeholders were willing to be constructive," said Ken Hall, the Teamsters' Secretary-Treasurer. "Teamster Hostess members, based on the facts and advice from respected restructuring advisors, understood what was at stake and voted to protect all jobs at Hostess."
Click to expand...
Apperently their financial situation wasn't so bad that they couldn't afford to pay their CEO an $2.5 million dollar non-performance bonaus for leading the company into bankruptcy.
 
The Dude said:
Sorry I'm mocking you for not being rich and picking on a lowly union guy!
Titmouse
Click to expand...
Ah those lowly union guys earning a pittance and violently surpressing those who earn far less?

A union labourer starts on $35 an hour with benefits totaling over $50.
Hardly poor or lowly!!

I'm comfortable in my income bracket and don't feel the need to deny opportunities to others in order to live a happy life.

Your union heros do nothing for anyone but themselves.
 
007 said:
Ah those lowly union guys earning a pittance and violently surpressing those who earn far less?

A union labourer starts on $35 an hour with benefits totaling over $50.
Hardly poor or lowly!!

I'm comfortable in my income bracket and don't feel the need to deny opportunities to others in order to live a happy life.

Your union heros do nothing for anyone but themselves.
Click to expand...
Fuck how do they live on that!
 
hazlnut said:
The factories are being moved to mexico.

Another greedy company doesn't want to pay fair wages.
Click to expand...


At least not to the rank and file workers.

Ask why CEO salaries are so high and they claim it's to attract the "best candidates"...too bad when it comes to the rank and file employee, greedy corporate owners only care about the bottom line.
 
Yargrohl Bone-Cracker said:
Mexicans don't deserve a chance to work?
Click to expand...

I Love America said:
So what? Seems to me they are just taking the jobs where people want them. It helps prevent our illegal immigration problem

They are just going to do the jobs the greedy union fucks don't want to do.

This probably wouldn't have happened if you would have waited until Obamas new tax rates kicked in.

But you wanted to be a greedy prick you selfish bastard
Click to expand...


Outsourcing is now acceptable to two more angry Righties.

Of course they are all for it since it hurts "greedy union fucks".

Sad to watch people who hate the other party so much they won't even speak out in defense of American jobs.
 
Hostess Liquidation Too Sweet for Managers, U.S. Says.



Source: nyt/reuters

Hostess Brands Inc, the maker of the iconic Twinkies snack cake, will square off in a bankruptcy court on Monday against an agent of the U.S. Justice Department, who says the wind-down plan is too generous to management.

The U.S. Trustee, an agent of the U.S. Department of Justice who oversees bankruptcy cases, said in court documents it is opposed to the wind-down plan because Hostess plans improper bonuses to company insiders.

The 82-year-old Hostess wants permission to pay senior management a bonus of up to 75 percent of their annual pay so they will stay on and help wind-down the business.

The U.S. Trustee, Tracy Hope Davis, planned to ask New York Bankruptcy Court Judge Robert Drain at Monday's afternoon hearing to appoint an independent trustee to oversee the sales of the company's assets.

Several unions also objected to the company's plans, saying they made "a mockery" of laws protecting collective bargaining agreements in bankruptcy. The Teamsters, which represents 7,900 Hostess workers, said the company's plan would improperly cut the ability of remaining workers to use sick days and vacation.



Read more: http://www.nytimes.com/reuters/2012/11/19/business/19reuters-hostess-bankruptcy-hearing.html?hp
 
The unions killed Hostess…another right wing myth.

http://www.dailykos.com/story/2012/11/16/1162243/-The-unions-killed-Hostess-another-right-wing-myth

hostess-bastards_n.jpg


moses_twinkies2a_111712.jpg
 
The Dude said:
Terrible management, this is the third bankruptcy for these clowns.
Click to expand...
Yea no shit man. I mean any moron could have told them that wonder bread and ding dongs went out with the 70's. Can anyone please raise their hand and let me know if they still eat wonderbread? (sound of crikets chirping). Anyone here who is health conscience eat twinkies or ding dongs? (sound of crikets chirping). Anyone here remember the last time Hostess introduced a new product that people actually eat? (sounds of crikets chirping).

Hostess was done in by their management and only their management. Anyone who thinks otherwise is to stupid to be in business and should probably just shut up and quit embarassing themselves.
 
Mott the Hoople said:
Yea no shit man. I mean any moron could have told them that wonder bread and ding dongs went out with the 70's. Can anyone please raise their hand and let me know if they still eat wonderbread? (sound of crikets chirping). Anyone here who is health conscience eat twinkies or ding dongs? (sound of crikets chirping). Anyone here remember the last time Hostess introduced a new product that people actually eat? (sounds of crikets chirping).

Hostess was done in by their management and only their management. Anyone who thinks otherwise is to stupid to be in business and should probably just shut up and quit embarassing themselves.
Click to expand...

I agree shut em down. I don't give two shits about the hostess workers. I assure they will be just fine in OWEbummers amerika
 
You must log in or register to reply here.
Back
Top