Liquidation stopped, judge orders Hostess and union to talk.

[powderman]

Judge puts Hostess liquidation on hold, orders talks  Published November 19, 2012
FoxNews.com   

•     
• •   Big Labor spinning Twinkies' demise?
  •   Who Killed Hostess?
  •   Hostess Closes Its Doors

  The liquidation of Hostess has been put on hold after a federal judge ordered the company and union officials to come back to the table for more talks, Fox Business Network reported.
The union that brought the 85-year-old baker of Twinkies and Wonder Bread to its knees was holding out hope that a buyer will salvage chunks of the company and send the union's members back to work, even as Hostess Brands Inc. had geared up for a fire sale.
 
Hostess, the company behind treats snacked on for generations, presented to a federal bankruptcy judge a plan to shut down 36 plants and sell off the company's business. Their liquidation plan was sparked by a nationwide strike orchestrated by the snack maker's second-largest union, the Bakery, Confectionery, Tobacco Workers and Grain Millers.
The Wall Street Journal reports that while Hostess has said the shutdown would result in the loss of more than 18,000 jobs and place the fate of more than 30 American brands in jeopardy, union President Frank Hurt said he believed there was "more than a good chance" that a buyer quickly would swoop in to buy the profitable parts of the company and give his union's members their jobs back.
"I'm not in a position to promise anybody anything, but I'm in a position to be hopeful," he said Sunday to the Journal.
 
Hurt, whose union counts 5,600 Hostess employees as members, said he was comforted by the recent frenzy over Hostess products, as consumers rushed to stock up after Friday's announcement of the shutdown. "People are going crazy because they think they're not going to be able to get any Twinkies or Ho Ho's or Wonder Bread," he also said in the interview. "They'll be produced somewhere, some time and by our members."
Hostess Chief Executive Gregory Rayburn had a different vision of how the bankruptcy auction process would play out.
"Nobody wants to have anything to do with these old plants or these unions or these contracts," Rayburn said in an interview. The company had hunted for buyers for the last several years as it tried to avoid a second trip into bankruptcy, but no buyer came forward.
 

Read more: http://www.foxnews.com/us/2012/11/19/hostess-union-hopes-buyer-will-put-employees-back-to-work/#ixzz2CiCHDabi

[P.A. Myers]

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[Lon371]

Sounds like the unions got to the Judge LOL. I love my junk food. At 173lbs now, and I will continue to support Hostess  
I say bring them to a right to work state. 


Lonny


 And to the persons who say good riddens, sounds like they are blaming Hostess for peoples bad judgement.

[Dee]

Sounds more like Russia when a judge can refuse to let a private business close down when it wants to go out of business.

[powderman]

Sounds more like Russia when a judge can refuse to let a private business close down when it wants to go out of business.

 
My thoughts exactly. POWDERMAN. 

[Sourdough]

I agree to a point, since I hate unions.  But Hostess was already under a court supervised bankruptcy reorginization.  Hence the judge getting involved.  Hotess had to get the judges approval before being able to liquidate.  Maybe the judge thinks the union will now compromise.   

[Conan The Librarian]

The Jason Lewis show tonight covered some,of the craziness of union rules that affected Hostess. For example, making a delivery to the same location required two trucks. One for bread products and one for cake products. Something like eighty different health plans and forty different pension plans.


I think the company is worth more liquidated than sustained. Keeping the company operating is sure to require only one thing, another crisis in a few years. Better that they cut their losses, use the money for a constructive purpose, and get on with life.

[Lon371]

 Hey wait a minute! I just relooked at the twinkies photo again. Is that chocolate twinkies? Holy crap I have never seen them before(ought to shop more) I have to go to town this morning. Guess I will have to make one extra stop


Lonny

[Dee]

I worked for a company when I was MUCH younger called Continental Conveyor. This company made gin machinery, and to work at a job that was more than a common laborer, you had to join the union, so I did, and started driving a heavy fork truck. One day while moving a piece of gin machinery a small cover fell off the piece being moved. There was no one helping at the time so I jumped off, and snapped the cover back on. It was about the size of a hub cap.
Another union member filed a grievance, and was paid fork truck driver's wages for that entire day, because of what I had done, and the union reprimanded me. This was in 1972, and although ridiculous then, they are worse now. Because of such shenanigans, and high  unsupportable union wages, the company closed that plant never to reopen.

[Lon371]

News just reported the Liquidation is a go.




Lonny