Discussion in 'Current Events' started by over9five, Nov 16, 2012.
18,500 people to lose jobs
Hostess has been attempting to bust the union for over two years. They wanted to lower pay and benefits and eliminate health care, you know, what ALL REPUBLICAN business owners would like to do across this country.
The union chose this fight and did what they could do to stand up to this company. The company has chosen to hurt the american workers and BK the plants and shut them down.
Yes, the workers will lose this battle, but the owners of this company will show the country that they do not care about american workers.
The only thing left to report now is all the multimillion dollar buy outs the upper management will give themselves.
Unfortunate for all.
The company could not come out of bankruptcy with the current wages and the workers will draw approximately the same while on unemployment.
I assume no insurance until Obamacare kicks in.
I don't know about their pensions.
You are amusing even though I know that is not your intention.
For the Twinkie fans, and other specialities items......the products may be bid out and maybe we'll see Betty Crocker Twinkies or Duncan Hines Ho-Hos down the road!! Swanson's Snowballs ??
Not taking you on --but alot of people are going to be dis illusioned. Just because you have no job does not mean you have Obamacare.
Supreme court ruled mandate was a tax and people without must buy. ALSO ruled States did not have to expand Medicaid ----millions will be left uninsured even after the huge tax and price hikes on everything from Premiums to fast food !!! What a disaster !!! How many more companies will go belly up --reduce staffing or cut hours ????
I wonder if this works for the company's benefit? I saw comments about this in another thread so yesterday when I saw the vending guy at work, I asked about the Hostess products in the machines. This guy has been around doing this for years and he told me his observation was that people were buying these products less and less. He even stated that now days, he more often than not removes out of date product whereas a few years ago this was not the case.
This is by no means scientific but I just wonder if less product is being sold to begin with and this just allows the re-shifting of market resources elsewhere? I know myself I can't remember the last time I ate a Hostess product and I got nothing against the company. I just have no desire to consume their products and how many others like me might be the same way?
I do feel sad for these folks as many will suffer from this.
That's my feeling on it, I'm guessing it's been close to 30 years since I ate any Hostess snack food. I guess I'm not the only one.
It makes sense, as people have turned to healthier foods over the past few years.
Organic this and free range that.....
More and Jones, sounds like a title for a TV show.......anyhoo, both your observations is kinda how I'm seeing it.
According to the Bureau of Labor Statistics, the mean hourly wage for the designation of “bakeries and tortilla manufacturers” was $12.57 in 2011. Hostess’ median wage was $17, they were paying 35 percent more than the national average not including the cost of health care and retirement benefits. Management's offer was a 10% cut on wages in exchange for a 25% stake in the company.
Food for thought (pun intended).
Didn't know those details so thanks. Did the 25% stake come with a say in company management or did the 75% just dictate direction and the 25% were still in a losing situation anyway ie sinking ship? Just curious.
Depending on the economics and assuming your facts above as accurate, the 10% cut may not have been a bad deal in the long run but I'm assuming a lot without full disclosure of the details.
What really happened??
How Hostess Failed: Hedge Funds vs Unions - Yahoo! Finance
Uh the union told the workers to take the cuts because they looked and the books and hostess is bleeding money worse than the post office. The workers are not right in this case.
Have you seen the books?
[h=5]Heard on MSNBC, "Al Qaeda is alive and Twinkies are dead".[/h]Actually it was displayed on the screen since the sound was turned off.
Funny in a way but definitely sad for the employees.
Unemployment, probably no insurance and questionable pension.
I'm sure some of these employees had 30 -40 years in there.
Talk about the rug getting pulled out from underneath you.
The teamsters have and they said they needed to take cuts. Filing for chapter 11 twice in the last few years also tells me all I need to know.
Are these guys/gals Teamsters?
Yes they are
Did the Teamsters recommend taking the deal?
Separate names with a comma.