Greedy Hostess union fucks can't figure out why new buyers won't hire any of them
The bakers union whose strike crippled Hostess Brands Inc. and ultimately drove it to liquidate continues to blast sale plans that the union maintains "unfortunately" don't preserve "a single job."
The Bakery, Confectionery, Tobacco Workers and Grain Millers International Union represented thousands of Hostess workers who went on strike rather than accept a new labor deal they felt called for too great a sacrifice. The strike ultimately led to Hostess's decision to shut down and sell off its assets piece by piece, a continuing effort the union now says might bring in millions of dollars for creditors but offers nothing to workers.
"Unfortunately, none of the proposed purchasers in any of the asset sales have committed to preserve a single job, and in fact each has affirmatively disclaimed any obligation even to "consider" employing a single worker," the union said in court papers filed Tuesday.
The union, which previously offered the same objection to the proposed $360 million sale of Hostess's Wonder and other bread brands to Flowers Foods Inc. ( FLO ), also said some of the sales could violate federal laws.
"These bids provide minimal assurance that the rights of the debtors' workers will be protected," the union said.
Reached Wednesday, a Hostess spokesman declined to comment.
Also throwing in its two cents was Hostess's biggest union, the International Brotherhood of Teamsters. In court papers filed Tuesday, the Teamsters said they weren't aware of any bids that would restore union workers' jobs, which they said was the "great tragedy" they had hoped to avoid by accepting labor concessions when Hostess was still trying to restructure.
Hostess heads to court next Tuesday to seek court approval for several deals to sell its beloved brands, including Twinkies, Ho Hos and Dolly Madison. Those cake brands and several bakeries have a $410 million bid lined up from Apollo Global Management LLC ( APO ) and Metropoulos & Co. The cake brands were to have gone to the auction block this week, but Hostess canceled the auction after it didn't receive any rival bids.
At Tuesday's hearing, the court will also consider a $31.9 million bid for Hostess's Beefsteak rye bread brand from Mexican bakery giant Grupo Bimbo SAB de CV (BIMBO.MX) and Flowers Foods'$360 million bid for Wonder and other bread brands.
Next week's hearing will also review the winning bids of Friday's auction of Hostess's Drake's and Sweetheart brands. McKee Foods Corp., which makes Little Debbie snack cakes, has offered to start off the bidding for the Drake's assets at $27.5 million. And a United States Bakery Inc. subsidiary is the lead bidder for the Sweetheart, Grandma Emilie's and other bread brands and assets with a $28.9 million offer.
(Dow Jones Daily Bankruptcy Review covers news about distressed companies and those under bankruptcy protection. Go to Dow Jones Bankruptcy & Debt)
Rachel Feintzeig contributed to this article.
Write to Jacqueline Palank at jacqueline.palank@dowjones.com
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Greedy Hostess union fucks can't figure out why new buyers won't hire any of them
Quote:
Originally Posted by
ctr10 
Union's were once needed many year's ago, but now it produces incompetent people making more than they are worth in most cases.
Right.... Cause now we can trust companies to treat employees fairly? Lol
The complaints about unions may be valid, but that doesn't mean we don't need to be protected from greedy corporations.
Greedy Hostess union fucks can't figure out why new buyers won't hire any of th
Quote:
Originally Posted by
Blimpy Explain with some sort of fact and cited sources please.
I work for a large corporation for the first time in my life. I've never been treated better in regards to pay and as a person. Every other job I've ever had has been at an independent business. While the indies treat you as a person the same, the monetary compensation is nowhere near what it is at my current job.
Explain what? That some corporations exploit employees?
All you have to do is look at the difference in pay between an employee and a CEO of many corps in the US as compared to other nations like Japan. Especially banks that fail and use tax payer money to bail themselves out.
Greedy Hostess union fucks can't figure out why new buyers won't hire any of them
Quote:
Originally Posted by
Blimpy I'm fucking sick of that employee/CEO argument. Of course the CEO of a multinational corp will receive and deserve many times in pay what an employee gets. This is the person that runs the company for God's sake. As long as he's doing the job well and expanding the company, he deserves it.
Vice versa, if the employee is doing his job well, they deserve more pay as well. Unions crush the notion that you should try to excel at your job with the automatic step wage increase on a (usual) annual or biannual basis. My entire family has been in unions public and private, I know all about their bullshit.
I'm also aware that yes, some corps are not honest. But this is usually not the norm.
And fuck Japan. Remeber the lost decade? Where they did exactly what we're doing here now? It was barely twenty years ago, you'd think we'd learn something about a nation destroying its own economy for God's sake!
Right, they deserve millions in bonuses when their company has to be bailed out.
Yeah, they deserve to make on average 500 times the average employee. They must be 500 times smarter and work 500 times harder. Let me get this straight, a CEO should make 300 million and the majority of employees should make less then enough to support a family? Sounds like a recipe for zero middle class.
Greedy Hostess union fucks can't figure out why new buyers won't hire any of th
Quote:
Originally Posted by
nikos_ would you stop that bullshit?
now,it's the last time i m answering you if you don;t apologise for being a he-bitch,alright?
we export gold,nowdays
and oil exportation is on its way
don't forget that Greece is one of the richest countries of Europe
Greece has tourism and corruption. The EU is going to implode thanks to Greece. And probably Italy. Oh, don't forget Spain ... All the greasy dago nations :lol:
Greedy Hostess union fucks can't figure out why new buyers won't hire any of th
Greece's gold reserves are tiny. The mine you're referring to has been stalled for over 15 years. 425k oz pa is laughable.
And oil revenues??? Why not just hand over the reserves to the EU rather than suffer through crippling austerity measures???
It's all bullshit Nikos :)
