Hostess Brands CEO
said Wednesday the company will liquidate unless striking workers return to the
job by the end of the day on Thursday.
"We simply do not have the financial resources to survive an
ongoing national strike," Greg Rayburn said in a statement.
Workers are protesting a contract imposed by a bankruptcy
court. The bakers union has called the contract "outrageous."
A liquidation would
result in more than 18,000 workers losing their jobs.http://www.kwch.com/business/kwch-hostess-ceo-gives-striking-workers-thursday-deadline-20121114,0,2860295.story
Friday. That's tomorrow.
Of course, it's the bakers union behind all this. They kept demanding higher and higher wages, more benefits, pensions, all that union stuff, until the company could no longer afford it, so they went bankrupt.
Now the union is striking because of the decisions made by the bankruptcy court, and another 18,000 people are about to be out of work.
And so, another American industry, a household brand name, and a national icon may be vanishing into the mist. Gotta wonder what a Chinese-made Ho-Ho would taste like. ... rice cake?
You just can't make this stuff up.
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