Moe Lane

Alternate title: “Sir, the Twinkies are back online!”

“Bless you, Scotty!*”

The bankrupt assets of Hostess Brands, Inc., the company responsible for Twinkies, Ho Ho’s, Sno Balls and Ding Dongs, are being put back to work by a buyout firm. What’s not being put back to work are the former Hostess unionized employees.

Basically, the new owners (Apollo Global Management LLC, and Metropoulos & Co.) aren’t subject to the old union contract from the Bakery, Confectionery, Tobacco Workers & Grain Millers union (BCTWGM).  As you may recall, BCTWGM more or less killed the old Hostess company (which, admittedly, was on life support anyway) last year when it decided to play some rather ill-timed hardball.  When the Teamsters are waving off your strike threats… well.  The BCTWGM has paid for their folly, no? (more…)

Very possibly.  Background here and here: the short version is that Hostess Foods is in horrible financial shape; it’s in the process of trying to stave off bankruptcy via drastically renegotiated emergency union contracts with the Teamsters and bakers’ unions; the Teamsters took a look at the books, blanched, swallowed hard, and took the deal; the bakers’ unions did not, and decided to go on strike; and Hostess basically told the strikers that if they didn’t stop striking by end of business today that the company would just go ahead and shut down.  The end of business came and went; and now we’re going to see whether Hostess will go through with their promise/threat.

And how serious is this threat? This serious:

The Teamsters meanwhile are urging the smaller union to hold a secret ballot on whether to continue striking. Citing its financial experts who had access to the company’s books, the Teamsters say that Hostess’ warning of liquidation is “not an empty threat or a negotiating tactic” but a certain outcome if workers continue striking.

(more…)

5 PM deadline, EST. No deal, no Hostess foods, no Twinkies. And all the posturing in the world by the American labor movement won’t bring back the company, once it’s gone.

Hey, don’t look at me: these guys are all part of the Democratic party’s coalition.  Not my doing.

Moe Lane

PS: Just in case:

Amusing juxtaposition:

(pause)

OK.  That was funnier yesterday than it was today.