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NEW YORK -- A union official representing workers at Hostess Brands Inc. said Monday that he isn't optimistic the two sides will come to an agreement over workers' contracts before the dispute lands in bankruptcy court.Hostess has said it will ask the court this week to toss out its existing union contracts if its workers don't accept cost-cutting proposals in its "final" offer. The company filed for bankruptcy protection in January, citing rising competition and pension and medical costs.Ken Hall, general secretary-treasurer of the Teamsters union, says his union's members will walk off the job if the court throws out the contracts. CEO Greg Rayburn says a strike will force the company to shut down and liquidate.The unions sent Rayburn a counteroffer Sunday night."I don't think we'll hear back," Hall said.A representative for Hostess, which makes Twinkies, Wonder Bread, Ding Dongs and other popular snacks, said in a statement that the changes proposed by the union would not be enough for the company to attract the financing it needs to exit Chapter 11. As part of its turnaround plan, Hostess wants to raise at least $400 million from current lenders or new investors or by selling its brands.The privately held company's contract offer this weekend included reduced pension benefits, work rule changes to lower costs and outsourcing some delivery work.The Teamsters said its counter offer includes $150 million in concessions a year, including the suspension of pension contributions until next summer. The reductions would be in addition to $110 million in concessions the union made about three years ago. The union also said it wants controls put in place to ensure the company doesn't "squander concessions."
The union would rather them members lose their jobs than suffer from reduced pay and benefits,
Preprocessed sugar junkies rejoice! The Great Twinkie Drought is almost over. After the collapse of Hostess, junk-food aficionados mourned the loss of Twinkies, as well as Ding Dongs, Ho Hos, and other plastic-wrapped pastries. However, the old plant in Columbus will reopen in July under new management, and that means sugar highs for everyone:Standing in front of a big “Welcome Back†banner, an executive for Hostess Brands said Tuesday the new company will hire up to 300 employees and reopen its Columbus plant to make Twinkies and other sweet treats.The facility at 1969 Victory Drive, known as the Dolly Madison Bakery, is scheduled to be up and running again by July, Hostess Brands LLC Chief Executive Officer Michael J. Cramer said during a press conference at the Greater Columbus Chamber of Commerce.“Safely, you should be able to buy Twinkies by the end of July,†Cramer said. “I think we will be cranking them out here and a couple of other places around the country.â€The Columbus plant will initially employ 200 people but could create more than 300 jobs eventually, he said. The snack-cake factory had about 420 on its payroll when it closed last November. It was then that Dallas, Texas-based Hostess Brands Inc. shuttered its entire U.S. production and distribution network following a lengthy impasse with worker unions and a couple of rounds in Chapter 11 bankruptcy court.In April, Hostess Brands Inc. sold the Twinkies, Ding Dongs, Ho Hos and other brands to private investment firms Apollo Global Management and Metropoulos & Co. for $410 million.
I wonder if they will be hiring union workers?
Good question. I hope not, but I'm sure the Unions are drooling over this.
I only drool over snowballs
News reports I've heard said no union workers
well ain't that the cream on top?!
