FAt Cats Steal Hostess PENSIONS !!! W...
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Bushwhacker

Seattle, WA

#32 May 28, 2013
Workers take pay cuts, management steals contractual pensions funds and get RAISES ???

Why does the "right" hate American workers ??

Oh, they need someone to blame for their losses..

Hostess Brands acknowledged for the first time in a news report Monday that the company diverted workers' pension money for other company uses.

The bankrupt baker told The Wall Street Journal that money taken out of workers' paychecks, intended for their retirement funds, was used for company operations instead. Hostess, which was under different management at the time the diversions began in August 2011, said it does not know how much money it took.

"It's not a good situation to have," Hostess CEO Gregory Rayburn told the WSJ.

"Whatever the circumstances were, whatever those decisions were, I wasn't there," Rayburn added. As the founder and owner of Kobi Partners, a restructuring advisory firm, Rayburn was appointed acting CEO in March 2012.

Hostess Brands, which filed for bankruptcy for a second time in January, started liquidating its operations in November after the bakers' union refused to take another pay cut and went on strike. The liquidation will leave about 18,000 workers without jobs.
ebtcollector

Minneapolis, MN

#33 May 28, 2013
ebtcollector wrote:
Good luck transporting them without teamsters, toots.... Oh right, the usual stupid rhetoric..
Funny, the managers are gone, too !!!
Which is an easier job to get $100k up or down ???
Looks like the managers are suffering, from their mistakes...
No one cares about unions.
Only illiterate workers who have trouble bargaining deserves unions.

Like SEIU.
Bushwhacker

Seattle, WA

#35 May 28, 2013
"No one" is up writing rhetoric, right child ???
Bushwhacker

Seattle, WA

#36 May 28, 2013
You whine about $$$, I make $$$$$$, sonny !!!

IMMERSION 1 Year Change:+168.33%

Looks like I have results, you have rhetoric.

Guess, which buys more, moron ?

Gotta SUCK, right ?
ebtcollector

Minneapolis, MN

#38 May 28, 2013
Bushwhacker wrote:
You whine about $$$, I make $$$$$$, sonny !!!
IMMERSION 1 Year Change:+168.33%
Looks like I have results, you have rhetoric.
Guess, which buys more, moron ?
Gotta SUCK, right ?
You haven't made anything til you sell it moron.

But then again...
How do you sell what you do not own?

Poor retard on topix.....
immr reference is your defense mechanism to your inadequacies.

If you could only see how truly pathetic you are....
but then again....

You would have ended your miserable existence if you had a brain and a will.
anti obiden

Minneapolis, MN

#40 May 29, 2013
Who is we pay??? You have a mouse in your pocket ??? If you don't like the product, don't purchase it, it is called a FREE market driven by consumers, not union bozo's.
Bushwhacker

Seattle, WA

#41 May 29, 2013
WOW !!!

IMMR HIT 15...

If that were women, would it match con's drunken record ????

Probably not..... Sick drunk.
Bushwhacker

Seattle, WA

#42 May 29, 2013
Workers take pay cuts, management steals contractual pensions funds and get RAISES ???

Why does the "right" hate American workers ??

Oh, they need someone to blame for their losses..

Hostess Brands acknowledged for the first time in a news report Monday that the company DIVERTED ??? workers' pension money for other company uses.

The bankrupt baker told The Wall Street Journal that money taken out of workers' paychecks, intended for their retirement funds, was used for company operations instead. Hostess, which was under different management at the time the diversions began in August 2011, said it does not know how much money it took.

"It's not a good situation to have," Hostess CEO Gregory Rayburn told the WSJ.

"Whatever the circumstances were, whatever those decisions were, I wasn't there," Rayburn added. As the founder and owner of Kobi Partners, a restructuring advisory firm, Rayburn was appointed acting CEO in March 2012.

Hostess Brands, which filed for bankruptcy for a second time in January, started liquidating its operations in November after the bakers' union refused to take another pay cut and went on strike. The liquidation will leave about 18,000 workers without jobs.
barry soetoro

Minneapolis, MN

#43 May 29, 2013
sounds like a liberal idea, take from the rich, and hand out to the poor. That is all a union is.
Bridgework

Olathe, KS

#44 May 29, 2013
non-starter wrote:
Did union workers simply get their 'Just Desserts' for backing Hostess into a corner with too many unreasonable demands? Consider the evidence.
Union workers have now completed their mission. 18,500 jobs are gone forever.
The national labor bosses stood firm. Labor leaders are proud they stood up to those nasty ‘suits’[see Entourage for definition] who refused to run a money-losing business simply to continue paying salaries and benefits.
Hostess posted a $341 million loss in 2011 on revenues of about $2.5 billion. Contributing to those 2011 losses:
$52 million in Workers’ Comp Claims
Dealing with 372 Distinct Collective-Bargaining Contracts
Administration of 80 Separate Health and Benefits Plans
Funding and Tending to 40 Discrete Pension Plans
$31 million in year-over-year increases in wages and health care benefits for 2012 v. 2011
Uncounted in the above numbers were the outrageous union-imposed rules that made for a too-high-to-bear cost of sales:
No truck could carry both bread and snacks even when going to the same location
Drivers were not permitted to load their own trucks
Workers who loaded bread were not allowed to also load snacks
Bringing products from back rooms to shelves required another set of union employees
Multi-Employer pension obligations made Hostess liable for other, previously bankrupted, retirement plan contributions from employees that never worked for Hostess at all
America has come to this. The only defense against insane union demands is the willingness to walk away and close shop.
Nah, it must have been the couple million exec bonuses the drove them under.

Since: Sep 11

Rogers, MN

#45 May 29, 2013
Smart Liberal wrote:
<quoted text>
Very well stated.
And did you notice the penny stock guru, and fake Seattle resident, is finally posting with an honest name? Ebtcollector - even though he/she/it stole the name from someone else.
Funny how the truth inadvertently works its way to the surface, isn't it?
The fool does not seem to realize that teamsters are not necessary to transport anything. There a number of independent truck services that will gladly take the business.

Smart Liberal

“The one and only Smart Liberal”

Since: Aug 12

Former MN Tax Payer

#46 May 29, 2013
cantmakeitup wrote:
<quoted text>
The fool does not seem to realize that teamsters are not necessary to transport anything. There a number of independent truck services that will gladly take the business.
Many of the Teamsters are not fond of the Baker's union anyway. They cost the Teamsters thousands of jobs since the Teamsters had already settled on the contract adjustment with Hostess.

But you are right, there are lots of ways to get your product to market.
Bushwhacker

Seattle, WA

#47 May 29, 2013
Funny, they got BIG MONEY before the judge, did he authorize ridiculous raises all along the way ??

Too sad, WE WILL BE PAYING THEIR PENSIONS, while the fat cats walk away, AFTER SCREWING THE WORKERS !!!
non-starter

Saint Paul, MN

#48 May 29, 2013
The union employees were obviously not assets, or the new brand owners would have wanted to keep them.

Since: Sep 11

Rogers, MN

#49 May 29, 2013
Smart Liberal wrote:
<quoted text>
Many of the Teamsters are not fond of the Baker's union anyway. They cost the Teamsters thousands of jobs since the Teamsters had already settled on the contract adjustment with Hostess.
But you are right, there are lots of ways to get your product to market.
Yeah, what was the number? Something like 3500 bakers took away the livelihood of 18,000 employees? Unions rock!
Bushwhacker

Seattle, WA

#50 May 29, 2013
non-starter wrote:
The union employees were obviously not assets, or the new brand owners would have wanted to keep them.
They found other work and the "new owners" are a different company. Funny, you ask for proof, prove some didn't apply at the other company...

Oh right, blathering, by the idiot.

Maybe the 787 will fly over and you'll keel over.... LMAOROTFU~!!
Bridgework

Olathe, KS

#51 May 31, 2013
Bushwhacker wrote:
<quoted text>They found other work and the "new owners" are a different company. Funny, you ask for proof, prove some didn't apply at the other company...
Oh right, blathering, by the idiot.
Maybe the 787 will fly over and you'll keel over.... LMAOROTFU~!!
So you know that all 18,000 found other work? Do you know if any of them found other work?
Bushwhacker

Seattle, WA

#52 May 31, 2013
Yeah, they all found other work, do the research, unless you're simply lazy.
Bridgework

Olathe, KS

#53 May 31, 2013
Bushwhacker wrote:
Yeah, they all found other work, do the research, unless you're simply lazy.
That is why they received government TAA and extended unemployment benefits?
Tom Cnyc

Westbury, NY

#54 Jul 19, 2013
LOSER AND LOOSER ARE TWO DIFFERENT WORDS.

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