Friday, November 16, 2012

More union idiocy: The unions kills off Hostess and 18,500 jobs killed off with it.

Brilliant.
November 16, 2012 at 4:39 AM | Page modified November 16, 2012 at 7:09 AM

Hostess moves to liquidate after crippling strike
Hostess Brands Inc. says it's going out of business after striking workers across the country crippled its ability to make its Twinkies, Ding Dongs and other snacks.

By CANDICE CHOI and TOM MURPHY

Associated Press

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MARK LENNIHAN / AP

Hostess says it's going out of business after striking workers across the country crippled its ability to make its Twinkies, Ding Dongs and other snacks.

The company had warned employees that it would file a motion with U.S. Bankruptcy Court Friday seeking permission to shutter its operations and sell its brands if plants hadn't resumed normal operations by a Thursday evening deadline. The deadline passed without a deal.

The closing would mean the loss of about 18,500 jobs.

"I don't know if they thought that was a bluff," CEO Gregory Rayburn said on CNBC Friday. He said the financial impact of the strike makes it "too late" to save the company even if workers have a change of heart. That's because the clients such as retailers decide to stop carrying products when supplies aren't adequate.

Rayburn said he's hopeful that the company will find buyers for its roster of about 30 brands, which include Ho Hos, Dolly Madison, Drake's and Nature's Pride snacks. The company books about $2.5 billion in sales a year.
More.

I'm sure each and every one of the rank and file are looking forward to THIS Thanksgiving and Christmas.

6 comments:

Lew Waters said...

Maybe they'll strike for higher unemployment checks next.

Martin Hash said...

The Bakers Union is telling its members that the new owners will be better!? Most likely, only the trademarks will sell - why would ANY new owners keep those bakeries open?

This will be one to watch...

Jack said...

Merry Christmas, you Ding-Dongs!!Happy New Year, too.

CoryB said...

Thanks!

Jack said...

the Lefties seem to be awfully grumpy lately. Does anyone else notice that? Shouldn't they all be happy and jumping for joy??

Jack said...

There are recipes how to make your own twinkies all over the internet, Martin. why don't you start a bakery?