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Unions
Sucks for those folks, personally Unions have outlived their purpose.
Sucks for those folks, personally Unions have outlived their purpose.
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Unions
Sucks for those folks, personally Unions have outlived their purpose.
And there are millions not doing well who could use the assistance of a union. Not saying we haven't come a long way but what you're saying is akin to not needing police becuase there are millions of law abiding citizens. Many of the labor laws in the past 60's years are the result of unions efforts. I do agree that the bakers union went HAM and keeping real went horribly wrong.
I have already worked jobs with no lunch hours and being made to stay late for insane hours with no pay. Most companies are hiring perpetual "temp employees" so they don't need to pay for benefits. Companies are using interns for years instead of paying.
It would get bad FAST imo
you give an inch a mile gets taken when it comes to big corporations
Just because we wouldn't see 10 year olds in factories doesn't mean it wouldnt get really bad
but the unions have been getting to big and corupt, and are a huge reason for many economic problems too. This specific instance falls on the union from what iv read
$200K though?
The madness !!!!!!!
That's because Unions have sat on their laurels and sucked money out of the paychecks of the employees they are supposed to represent. They overplay their hand because they seem to be reactive instead if proactive.
Unions aren't stopping manufacturing from going overseas. They make ridiculous demands which cause businesses to take their business over seas.
Labor laws are too strong nowadays. Plus Unions are usually beneficial to awful, lazy, tenured employees.
This could be a publicity stunt
Say they're shutting down so people buy all their products
Tastykake is better anyways.
Now we know how this story ends. The Teamsters agreed in September to a deal with reduced pay and benefits. But the Bakery Workers union rejected the deal and went on strike. Hostess warned that if the strike continued it would not be able to stay in business. But the strike went on. And now Hostess is out of business.What the hedge funds want is some degree of capitulation from a union whose members will otherwise lose thousands of jobs in liquidation. If the hedge funds don't get it, they've concluded, the company isn't worth saving. Without the hedge funds' blessing, no Hostess turnaround is possible. Right now, according to sources with knowledge of Hostess's debt structure, Silver Point and Monarch each hold Hostess obligations with a market value of between $50 million and $100 million. Those sources also say each hedge fund probably paid somewhere between $125 million and $175 million for that debt. So even with losses to date, both hedge funds have ample skin in the game -- skin they'd like to get out of the game sooner rather than later. Of course, if the hedge funds again forgive sizable debt, they'll probably want sizable equity in return this time.
Finally, there are the woebegone Teamsters. They have plenty of skin as well -- and feel as if they've been fleeced out of almost $100 million from Hostess after the company "temporarily" ceased making union pension contributions last August. That move by Hostess was a breach of its collective-bargaining agreement with the unions. The Teamsters' leadership has fulminated to its membership about the hedge funds in particular. "The financial folks make a living of feeding off distressed companies," Hall says. "They lose sight of the fact that there are real families with livelihoods at stake." At local unions across the country, the hedgies have become the devil incarnate.