Thread: RIP Hostess
View Single Post
Old 11-16-2012, 09:25 PM   #7
Goat
Senior Member
Max Brawn
Points: 3,004, Level: 33 Points: 3,004, Level: 33 Points: 3,004, Level: 33
Activity: 5% Activity: 5% Activity: 5%
 

Join Date: Sep 2011
Location: Ca
Posts: 596
Training Exp: 2 years
Training Type: Fullbody
Fav Exercise: squat
Fav Supp: MEAT
Reputation: 36543
Goat is a lifting machineGoat is a lifting machineGoat is a lifting machineGoat is a lifting machineGoat is a lifting machineGoat is a lifting machineGoat is a lifting machineGoat is a lifting machineGoat is a lifting machineGoat is a lifting machineGoat is a lifting machine
Default

"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."

Frank Hurt, president of the bakers' union, called the liquidation "a deep disappointment" but said his members weren't the ones responsible, blaming the various management teams in place at Hostess over the past eight years for failing to turn the firm around.

"Our members decided they were not going to take any more abuse from a company they have given so much to for so many years," Hurt said in a statement late Friday. "They decided that they were not going to agree to another round of outrageous wage and benefit cuts and give up their pension only to see yet another management team fail and Wall Street vulture capitalists and 'restructuring specialists' walk away with untold millions of dollars."

The teamster voted to keep there jobs, the bakers union did not. This forced the company to ask for close its operations

Hostess Brands closing for good due to bakers strike - Nov. 16, 2012

Seem to me the Hostess was still wiling if the unions were.
__________________
When the people find that they can vote themselves money, that will herald the end of the republic. Sell not liberty to purchase power. - Benjamin Franklin

There are two ways to conquer and enslave a country.One is by the sword.The other is by debt. - John Adams
Goat is offline   Reply With Quote