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