Hostess (Twinkies) Wants Judge To Slash Union Obligations (Teamsters)

[Omaha Steve]

http://www.manufacturing.net/news/2012/01/hostess-wants-judge-to-slash-union-obligations?et_cid=2447887&et_rid=210363988&linkid=http%3A/www.manufacturing.net/news/2012/01/hostess-wants-judge-to-slash-union-obligations&qt-recent_blogs=1

Fri, 01/27/2012 - 9:16am

NEW YORK (AP) -- Hostess Brands Inc., the maker of Wonder Bread and Twinkies that filed for bankruptcy reorganization earlier this month, has asked a judge to slash some of its commitments to union employees, saying it's the only way it can emerge as a viable company.

The Teamsters union issued a swift rebuke on Thursday, saying Hostess was trying to "bully" its way out of obligations to its employees.

Hostess, based in Irving, Texas, filed for bankruptcy protection earlier this month, hobbled by discordant forces: Americans' professed preference for healthier snacks, and stiff competition from other sweets makers like Entenmann's. The announcement came just three years after Hostess emerged from a previous bankruptcy restructuring.

In court papers filed this week, Hostess asked the a bankruptcy judge to trim its obligations on commitments like health care and pensions to employees of the Teamsters union and a bakers union. The company said that Hostess brands are losing market share, "fighting for their survival" and "losing hundreds of millions of dollars each year." In all, unions represent more than three-quarters of Hostess' 19,000 employees, the company said.

FULL story at link.

[Hugabear]

1. Fuck Hostess

The anti-union bullshit continues

[teddy51]

2. More likely hobbled by Upper management (mis-management) wages/benifits. What the

hell don't these thugs get about the fact that we, middle class/Union workers know exactly that management and Ceo's are ripping us off?

[Bonhomme Richard]

3. I wonder what roll Ripplewood Holdings plays in this. n/t

[Sherman A1]

4. The teamsters are right, Hostess is trying to bully it's way out of it's pension payments

I understand that the company just quit making payments altogether.

[LiberalFighter]

5. What's the possibility that the employees taking control of the company

because they have more assets than anyone else when those pension and health care obligations are considered?