Hostess files BK. Go to page 11 of the bk petition and what do you notice? | Page 2 | TigerDroppings.com
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weagle99
Delaware Fan
Member since Nov 2011
14516 posts

re: Hostess files BK. Go to page 11 of the bk petition and what do you notice?

quote:

8,500 union workers are causing 18,500 workers to lose their jobs because they wouldn't take a pay cut that was needed for the business to stay open.


The other 10,000 workers couldn't learn how to bake?


Eighteen
LSU Fan
Member since Dec 2006
17044 posts

re: Hostess files BK. Go to page 11 of the bk petition and what do you notice?
quote:

The other 10,000 workers couldn't learn how to bake?






weagle99
Delaware Fan
Member since Nov 2011
14516 posts

re: Hostess files BK. Go to page 11 of the bk petition and what do you notice?
I was being sarcastic. I did hear that non-union workers refused to cross the lines. If so, screw them.
This post was edited on 11/16 at 9:34 am


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The General
LSU Fan
Bossier City
Member since Nov 2003
328 posts

re: Hostess files BK. Go to page 11 of the bk petition and what do you notice?
From the Schedules in the filing:

Bakery & Confectionery Union & Industry
International Pension FundBakery & Confectionery
Union & Industry International Pension


FundATTN: Robert J. Bergin
Tel: 301-468-3742

UnionHealth and Welfare/Pension
$944,158,000

This number is crazy! Anyone want to call Mr. Bergin and ask his opinion on the matter?
This post was edited on 11/16 at 9:34 am


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mmcgrath
LSU Fan
New Jersey
Member since Feb 2010
8100 posts

re: Hostess files BK. Go to page 11 of the bk petition and what do you notice?
quote:

You know who else is probably paid in full? The union leaders.


I agree. For writing contracts that allowed the pension payments to slide as they did.

The company has about $2.5 billion in revenue with about $1 billion in employee costs.... maybe less.

This post was edited on 11/16 at 9:35 am


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Eighteen
LSU Fan
Member since Dec 2006
17044 posts

re: Hostess files BK. Go to page 11 of the bk petition and what do you notice?
quote:

Hostess filed for bankruptcy in January, its second trip to bankruptcy court since 2004. It's now owned by a group of investment firms including hedge funds Silver Point Capital and Monarch Alternative Capital.


apparently Kickadouche thinks they need to lower their prices

quote:

In September, one of its major unions, the International Brotherhood of Teamsters, voted narrowly to accept a new contract with reduced wages and benefits. The bakers' union rejected the deal, however, prompting Hostess management to secure permission from a bankruptcy court to force the new contract on workers.


quote:

The new contract cuts salaries across the company by 8% in the first year of the five-year agreement. Salaries then bump up 3% in the next three years and 1% in the final year.

Hostess has also reduced its pension obligations and its contribution to the employees' health care plan. In exchange, the company offered concessions including a 25% equity stake for workers and the inclusion of two union representatives on an eight-member board of directors.




Yea. Hostess is being so greedy here

quote:

"We simply do not have the financial resources to survive an ongoing national strike," Hostess CEO Greg Rayburn said in a statement.

The liquidation would result in Hostess' nearly 18,000 workers losing their jobs. The bakers' union represents around 5,000.
This post was edited on 11/16 at 9:37 am


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FT
Georgia Tech Fan
Aston Villa Supporter
Member since Oct 2003
18169 posts

re: Hostess files BK. Go to page 11 of the bk petition and what do you notice?
quote:

...does anyone else read this as Hostess files Burger King?


No? Just me?


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NC_Tigah
LSU Fan
Member since Sep 2003
56172 posts

re: Hostess files BK. Go to page 11 of the bk petition and what do you notice?
quote:

Hostess files BK. Go to page 11 of the bk petition and what do you notice?
$8.5 million for flour?


Newbomb Turk
Navy Fan
perfectanschlagen
Member since May 2008
9961 posts

re: Hostess files BK. Go to page 11 of the bk petition and what do you notice?


ProjectP2294
Penn Fan
St Louis County
Member since May 2007
32599 posts

re: Hostess files BK. Go to page 11 of the bk petition and what do you notice?
quote:

Maybe this will light a fire and get Hubigs on the fast track!!!


It already did.
Image: http://cdn.bimfs.com/WWLTV/2f9fc23440b282e47cb59204409fd0fcf3a7aa9c.jpg


FT
Georgia Tech Fan
Aston Villa Supporter
Member since Oct 2003
18169 posts

re: Hostess files BK. Go to page 11 of the bk petition and what do you notice?
quote:

It already did.


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RogerTheShrubber
LSU Fan
Juneau, AK
Member since Jan 2009
98385 posts

re: Hostess files BK. Go to page 11 of the bk petition and what do you notice?
quote:

The union would not allow them to deliver cakes and bread on the same truck. They had to use two seperate trucks to deliver to the same store. Stupid fricks are now unemployed because of dumb shite like that.


Hostess signed the contracts. They are at fault.


WildTchoupitoulas
"Tombstone"
Member since Jan 2010
17732 posts

re: Hostess files BK. Go to page 11 of the bk petition and what do you notice?
quote:

let them live on the streets

This attitude is what's wrong with America today.

"frick Americans, I hope they die in the gutter! I got MINE, Jack!"


FT
Georgia Tech Fan
Aston Villa Supporter
Member since Oct 2003
18169 posts

re: Hostess files BK. Go to page 11 of the bk petition and what do you notice?
I do genuinely like unions, but I really can't stand the way they work today. A friend of mine was an executive at a major telecom company and he found a scrap of paper on the floor. He couldn't pick it up. If he had, he would've been doing the janitor's job. He had to call for the janitor and stand there waving people by like there was some major hazard on the floor.


RogerTheShrubber
LSU Fan
Juneau, AK
Member since Jan 2009
98385 posts

re: Hostess files BK. Go to page 11 of the bk petition and what do you notice?
quote:

I do genuinely like unions, but I really can't stand the way they work today


I'm pretty neutral. They serve a purpose in some industries like construction trades, but they have to have sweetheart deals through the state to make it work, and that is done through lobbyists and payoffs.

My first experience with a union was the teamsters at a trade show where their contract required three men to operate a fork lift. Their "customer service skills" were also shite.


USMC Gators
Member since Oct 2011
14633 posts

re: Hostess files BK. Go to page 11 of the bk petition and what do you notice?
Go unions!


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DapperDan
LSU Fan
Member since Jul 2012
1226 posts

re: Hostess files BK. Go to page 11 of the bk petition and what do you notice?
quote:

This attitude is what's wrong with America today


I disagree. The attitude that decisions don't have consequences is much worse imo. The union decided t strike...now they have to deal with the consequences of that decision.


junkfunky
LSU Fan
Member since Jan 2011
14851 posts

re: Hostess files BK. Go to page 11 of the bk petition and what do you notice?
quote:

The union decided t strike...now they have to deal with the consequences of that decision.


But that's just not fair.


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WildTchoupitoulas
"Tombstone"
Member since Jan 2010
17732 posts

re: Hostess files BK. Go to page 11 of the bk petition and what do you notice?
quote:

now they have to deal with the consequences of that decision.

That's fine as long as it doesn't involve Americans living in the streets.

To this day I don't undetsatnd why conservatives HATE American workers.


DapperDan
LSU Fan
Member since Jul 2012
1226 posts

re: Hostess files BK. Go to page 11 of the bk petition and what do you notice?
quote:

To this day I don't undetsatnd why conservatives HATE American workers.
delusional


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