UnThreaded | Threaded | Whole Thread (9) | Ignore Thread Prev | Next
Author: MONYMAN3 Three stars, 500 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 71034  
Subject: Re: When top brass kill a company by borrowing Date: 11/18/2012 11:54 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 4
The workout specialist that the hedge fund brought in to try and negotiate a deal indicated on CNBC last Friday that the hedge fund had put in an additional 30M last December when there was little chance that they would get their money back. He said the teamsters had worked with management to try and keep all the jobs. He had praise for them. All workers and management were going to take haircuts. Guess the bakers union didn't believe Hostess would go under. They were wrong and both they and the 70% of the workers that agreed to concessions are all out of work. Work rules of the type you mention increase the rolls of union workers at the expense of efficiency. In Chicago our McCormick Place Convention Center's work rules resulted in losses of business to Florida and Nevada. The cost to dismantle exhibits was so high that many exhibitors just left the displays rather than dismantle them. You needed an union electrician to plug in an electrical plug. The cost of a can of Coke was $6 a can to bring in to the center. The state had to step in and change the rules and some of the business has been won back.

Rob
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (9) | Ignore Thread Prev | Next

Announcements

Post of the Day:
Berkshire Hathaway

Is the Market Overvalued?
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