Comments
81 - 85 of 85 Comments Last updated Nov 22, 2012
First Prev
of 5
Next Last

“We're all Bozos on this bus”

Since: Jan 07

Indianapolis, IN

|
Report Abuse
|
Judge it!
|
#81
Nov 21, 2012
 

Judged:

3

3

3

http://sweetness-light.com/archive/absurd-uni...

Hostess posted sales of $2.5 billion in 2011 but lost $341 million and lacked the cash flow to hold out through the bakers union work stoppage that had only lost a few days of production so far. One reason is a labor-rule burden that by comparison makes Detroit look like Hong Kong.

The snack giant endured $52 million in workers’ comp claims in 2011, according to its bankruptcy filing this January. Hostess’s 372 collective-bargaining agreements required the company to maintain 80 different health and benefit plans, 40 pension plans and mandated a $31 million increase in wages and health care and other benefits for 2012.

Union work rules usually required cake and bread products to be delivered to a single retail location using two separate trucks. Drivers weren’t allowed to load their own vehicles, and the workers who loaded bread weren’t allowed to load cake. On most delivery routes, another "pull up" employee moved products from back rooms to shelves.

This year management negotiated concessions from some of the unions, including the Teamsters, but the bakers rejected a last and best offer in September. Then the courts gave Hostess unilateral authority to modify collective-bargaining contracts, prompting the strike. So now it will liquidate, instead of attempting to emerge from Chapter 11 intact.

The 18,500 layoffs are equal to about 11% of the net new jobs the entire U.S. economy created in October. The unions are blaming private equity, or Bain Capital, or capitalism, but the election is over. And so is Hostess.

Not to mention that if it hadn’t been for private equity, in this case Ripplewood Holdings, Hostess would never have gone back into business after their 2004 bankruptcy. And these jobs would have been lost eight years sooner.

But this just proves how the parasites will eventually kill the host — or Hostess — and bring about their own demise, if they have their way.
lih

Indianapolis, IN

|
Report Abuse
|
Judge it!
|
#82
Nov 21, 2012
 
Uh Clem wrote:
http://sweetness-light.com/arc hive/absurd-union-benefits-and -rules-killed-hostess

Hostess posted sales of $2.5 billion in 2011 but lost $341 million and lacked the cash flow to hold out through the bakers union work stoppage that had only lost a few days of production so far. One reason is a labor-rule burden that by comparison makes Detroit look like Hong Kong.

The snack giant endured $52 million in workersÂ’ comp claims in 2011, according to its bankruptcy filing this January. HostessÂ’s 372 collective-bargaining agreements required the company to maintain 80 different health and benefit plans, 40 pension plans and mandated a $31 million increase in wages and health care and other benefits for 2012.

Union work rules usually required cake and bread products to be delivered to a single retail location using two separate trucks. Drivers werenÂ’t allowed to load their own vehicles, and the workers who loaded bread werenÂ’t allowed to load cake. On most delivery routes, another "pull up" employee moved products from back rooms to shelves.

This year management negotiated concessions from some of the unions, including the Teamsters, but the bakers rejected a last and best offer in September. Then the courts gave Hostess unilateral authority to modify collective-bargaining contracts, prompting the strike. So now it will liquidate, instead of attempting to emerge from Chapter 11 intact.

The 18,500 layoffs are equal to about 11% of the net new jobs the entire U.S. economy created in October. The unions are blaming private equity, or Bain Capital, or capitalism, but the election is over. And so is Hostess.

Not to mention that if it hadnÂ’t been for private equity, in this case Ripplewood Holdings, Hostess would never have gone back into business after their 2004 bankruptcy. And these jobs would have been lost eight years sooner.

But this just proves how the parasites will eventually kill the host — or Hostess — and bring about their own demise, if they have their way.
What is the middle class going to do?
flower

Broken Arrow, OK

|
Report Abuse
|
Judge it!
|
#83
Nov 22, 2012
 
I understood that right before 2004 management gave themselves big raises and bonuses and then in the 2004 bankruptcy the Bakers union made all the concessions asked of them, trying to keep their jobs, with only one stipulation, that the CEO be replaced, and that Ripplewood did put money into the company, but, has cost them even more...w/ the interest on that loan and their own managers taking large salaries, and awarding themselves bonuses, all while failing to manage the company..sales are still declining. I am surprised at the reaction to your blue collar neighbors from a state that was lucky enough to have a man like Bill Cook live there. 52 M in worker comp claims? Sounds like there are some hazards in these jobs...100 degree workplaces? That sounds a little hard on a person too. I doubt I could stand it...and at 60, I guess I would be SOL if I worked there...too young for any SS. And in case you didn't see it a couple of weeks ago...60 minutes did a show on future jobs market and the growing need for technicians...to run those machines and push those buttons everyone thinks is so easy to do, turns out it takes some math skills.

“We're all Bozos on this bus”

Since: Jan 07

Indianapolis, IN

|
Report Abuse
|
Judge it!
|
#84
Nov 22, 2012
 

Judged:

3

3

3

lih wrote:
<quoted text>
What is the middle class going to do?
After Obama taxes them to death, die, I guess.

Since: Dec 06

Indianapolis

|
Report Abuse
|
Judge it!
|
#85
Nov 22, 2012
 

Judged:

3

3

3

I can't wait still ObamaCare comes around and people see what it is going to cost. It may not be the out of pocket increase that will take place but how much this is going to put American in debt. I want to thank those for ObamaCare because most of mine is free. I pay $99.00 a month for medicare. I have an insurance plan that cost me nothing.$10.00 co-pay for doctor and a free drug plan. Can't beat it if you are retired.
Uh Clem wrote:
<quoted text>
After Obama taxes them to death, die, I guess.

Tell me when this thread is updated: (Registration is not required)

Add to my Tracker Send me an email

First Prev
of 5
Next Last
Type in your comments below
Name
(appears on your post)
Comments
Characters left: 4000
Type the numbers you see in the image on the right:

Please note by clicking on "Post Comment" you acknowledge that you have read the Terms of Service and the comment you are posting is in compliance with such terms. Be polite. Inappropriate posts may be removed by the moderator. Send us your feedback.

•••
•••
•••
Franklin Dating

more search filters

less search filters

•••

Franklin Jobs

•••
Enter and win $5000
•••
•••

Franklin People Search

Addresses and phone numbers for FREE

•••

Franklin News, Events & Info

Click for news, events and info in Franklin
•••

Personal Finance

Mortgages [ See current mortgage rates ]
•••