UnThreaded | Threaded | Whole Thread (41) | Ignore Thread Prev | Next
Author: steve203 Big funky green star, 20000 posts Top Recommended Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 461128  
Subject: Re: No more Twinkies! Date: 11/16/2012 8:46 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 26
In this case, the workers will have to settle for unemployment insurance rather than the wages they demanded.

Tonight the CBS News covered this story, including a reporter talking to a worker on the picket line at the Seattle plant.

reporter: "why put yourselfs out of work"

worker, who had worked there 37 years: by the time they took away the pension, cut pay and charged more for health insurance, we would be making about minimum wage

Here's the report

http://www.cbsnews.com/video/watch/?id=50135330n

Given that Hostess was controlled by a couple hedge funds, there could be more here than meets the eye: like knowingly putting the company out of business, so the brands could be sold for a quick buck, without the baggage of actual pysical assets and without an existing workforce.

Steve
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (41) | Ignore Thread Prev | Next

Announcements

Pencils of Promise - Back to School Drive
"Pencils of Promise works with communities across the globe to build schools and create programs that provide education opportunities for children."
Post of the Day:
Berkshire Hathaway

IBM: Is Buffett Wrong, or Brilliant?
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement