Hostess strike enters day six with a deadline looming

[Omaha Steve]

Source: WLBZ

Written by Brett Whitmarsh

BIDDEFORD, Maine (NEWS CENTER) - It's now day six of the Hostess Brands worker strike in Biddeford. Workers remain on the picket lines this morning with a deadline to stop striking by 5pm tonight or else the company will shut down its operations.

Workers have been out all morning continuing the strike. They say the company has stopped putting their money into their pension funds last year, but they say the company is still taking that money out of their pay.

The Texas based baker is going through Chapter 11 bankruptcy and officials say workers must make concessions in order for the company to continue on. Yesterday Hostess posted a message on its website saying if the strike doesn't stop by 5pm tonight, it will file a motion in federal bankruptcy court to liquidate the entire company. More than 300 workers are currently on strike in Biddeford. They say they can deal with some cuts to benefits and wages, but many say they count on their pension payments for retirement, and the strike will continue until they get answers.

Video: http://www.wlbz2.com/video/default.aspx?bctid=1971739127001

FULL story at link.



Read more: http://www.wlbz2.com/news/article/222134/3/Hostess-strike-enters-day-six-with-a-deadline-looming

[MrYikes]

1. and in Indiana

Twinkies maker Hostess has given striking workers an ultimatum.

“If sufficient employees do not return to work by 5 p.m. (today) to restore normal operations, we will be forced to immediately move to liquidate the entire company, which will result in the loss of nearly 18,000 jobs,” Gregory F. Rayburn, Hostess chairman and chief executive officer, said Wednesday in a press release.

The company said it lacks the financial resources to survive an ongoing national strike.

If enough workers do not return, Hostess said it would file paperwork with the bankruptcy court on Friday to initiate the liquidation and that the closing of plants could begin as early as Tuesday.





Just remember this is all caused by bad management.

[thelordofhell]

2. The Company Lacks Financial Resources...............

Salary Increases at Hostess

Some creditors question Hostess pay raises approved in late July.

Brian Driscoll, CEO, around $750,000 to $2,550,000
Gary Wandschneider, EVP, $500,000 to $900,000
John Stewart, EVP, $400,000 to $700,000
David Loeser, EVP, $375,000 to $656,256
Kent Magill, EVP, $375,000 to $656,256
Richard Seban, EVP, $375,000 to $656,256
John Akeson, SVP, $300,000 to $480,000
Steven Birgfeld, SVP, $240,000 to $360,000
Martha Ross, SVP, $240,000 to $360,000
Rob Kissick, SVP, $182,000 to $273,008

[socialist_n_TN]

3. The workers need to..............

TAKE OVER THE MEANS OF PRODUCTION. And stop paying those godawflul salaries.

[PeaceNikki]

4. This impacts people I know. :(

http://mobile.reuters.com/article/idUSL1E8MG19P20121116?irpc=932


These aren't greedy people. They aren't demanding anything but a living wage. The top brass has given themselves outrageous increases while screwing labor.

It's terrible.

[Bolo Boffin]

5. The company's deadline came and went. The union stayed strong. And now the company is liquidating.

I'm outraged here.