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Goodbye Hostess
Everyone loses:
- HOSTESS JUDGE APPROVES MOTION TO WIND DOWN COMPANY
- HOSTESS WINS APPROVAL TO CLOSE AND BEGIN SELLING ASSETS
Next up: the Twinkie economy.
Fom Leveraged Loan:
U.S. Bankruptcy Judge Robert Drain this afternoon approved Hostess Brands’ emergency wind-down plan, as well as an amendment to its debtor-in-possession credit agreement that will allow Hostess to access the full amount of its $75 million DIP loan during its liquidation.
Drain also denied a motion filed by the U.S. Trustee to convert the case to Chapter 7, though he did not rule out the prospect of a conversion at a later date.
Hostess returned to the bankruptcy courthouse in White Plains, N.Y., this morning after a last-minute mediation yesterday between the company and its main bakers’ union failed to produce a settlement to halt liquidation of its assets. The hearing began Monday afternoon, but was delayed shortly thereafter to give the company and the Bakery, Confectionary, Tobacco and Grain Millers Union a final opportunity to engage in mediation to avert the strike the BCT began last week. But by Tuesday evening, Hostess announced that the mediation was “unsuccessful.”
Judge Drain opened today’s hearing with a brief, private chambers conference to discuss the mediation, the details of which remain confidential.
Back in open court, Hostess financial advisor Joshua Scherer, of Perella Weinberg, took the witness stand to discuss the company’s failed efforts to sell the company as a whole, and the status of its newly launched liquidation strategy.
During its Chapter 11, Hostess fielded six bids for the sale of the company as a whole, none of which passed muster, Scherer said.
In the past five days, however, since Hostess officially launched its liquidation process, the company has received “a flood of inquiries,” said Hostess lawyer Heather Lennox, of Jones Day. The company expects to file a number a number of stalking-horse bids for its assets within the next few weeks, she said.
“The number of inbound calls has been surprising, on a number of fronts,” Scherer said. Those inquiries fall into four “buckets,” he explained. Offers have come from regional bakeries, national competitors, customers (such as Wal-Mart, Kroger and Giant Eagle), and a fourth catch-all category, including large consumer products companies. Scherer said the liquidation sale has generated “very significant interest” from international buyers as well.
Many of the buyers were uninterested in the assets when Hostess was weighed down by its union liabilities, he said. “We have very significant momentum right now with, from a selling perspective, positive press,” Scherer said. “It’s critical to maintain momentum and a competitive dynamic.”
“Every day our product is off the shelf, it’s diminishing in value. Our customers get used to selling goods without our brands, and the end-users learn to live without Twinkies and Wonder Bread.”
On the stand, Hostess CEO Gregory Rayburn said he needs to terminate about 15,000 employees today so that they can collect unemployment benefits. Drain approved an employee retention plan that would keep about 3,200 employees on the job during the wind-down process.
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my twinkie!
goodbye hostess
hello john galt
Indeed. Atlas shrugged.
Sucks to see, either way. Another company down the tubes.
http://www.dailyjobcuts.com
.
Hostess is Toastess...
Their junk (food) bonds are going to get monkey hammered.
Obama, Obama, gimmie a free cell phone. Obama give me a free cell phone.
Next up, the twinkie economy
Cant print twinkies
Ahh, but they will print you a "Certificate of Twinkie" that is worth one twinkie.
"Everyone loses"
Except for those with enough foresight to stockpile Twinkies. Idiots shop on Ebay, bitchez.
the bankruptcy judge's name is drain.
Well, the parasites have killed their Hostess.
They'll print Federal Twinkie Notes that aren't redeemable for twinkies or anything else, and they'll backed by "the full faith and credit of the US govt".
Anybody interested in taking a long position in Twinkies deliverable futures?
Apparently JPM is on the short side and their vault is filled with them.
Did I say monkey hammered?
I meant Ding Donged...
We don't need corporations just like we don't need government.
Go make your own damn twinkees.
Back in the USSR.
Why does this seem like a stealth Michele O assault on American choice....no one is forcing hostess products down our throats....no more large big gulps and now twinkies etc. this is getting stupid
"Indeed. Atlas shrugged."
Exactly right. A company that made chemical food that no one needed. Management that paid itself hundreds of millions to run a company into bankruptcy over a period of years, while bitching that workers made too much. And a brand that will live on to make more worthless management types money in the future, while the workers and bondholders of the old company lose everything. A few at the top prevail and everyone else gets fucked. Pretty much exactly what Ayn Rand teaches us is the desired model of human interaction.
Amazing that your ideaology doesn't get in the way of your facts...have a twinkie!
Amazing that your ideology does not require any facts at all in order to criticize mine ... have a ding dong!
A chemical no one needed? This is not about need but want. Consumers wanted twinkies so Hostess made them.
Why would management run the company into the ground on purpose? The real travesty is that an "unecessary" union brought down a company that employed thousands of workers, many who probably live paycheck to paycheck. They're all screwed now.
Unions don't need to exist. We have OSHA and plenty of labor laws. There are no sweatshops or child labor factories in the US. The only thing unions are doing is sucking money out of your paycheck and extorting businesses to pay more or else they strike.
When you have every business in the country paying everything they make to the workers you have...communism. The beauty of this country is you can form a union, you can strike and you can fire all your workers and go out of business if you want.
"Why would management run the company into the ground on purpose?"
Of course they did not, or at least I have no reason to suspect they did. But where is the outrage from your political side of the equation at the system that allows management in cases like this to walk away with millions? What did they do to earn their money? If you believe in the free market, why do you support a system where management has zero exposure to loss created even by their own incompetence? And if you think that is just the spoils of being the "productive class" (whether you are productive or not), why do you not support the idea that workers want their own spoils? Isn't it part of being free that a wage earner can enter into agreements with other wage earners to achieve the objective of making more money? Do you advocate a caste system where CEOs can milk every last dime and laugh as they leave the burning building, but workers must dutifully take whatever is offered to them?
If you guys are going to feed the troll, you should bring enough twinkies for everyone.
There was a chance for someone like "LetThemEatRand" to come in and purchase the company before they filed for bankruptcy. This would have been the perfect oportunity for a liberal businessman to buy up Hostess and run the company "for the workers." Guess what? There is no such thing as a liberal businessman. Everyone that looked at the books noticed the union liabilities and knew it couldn't be done!
"If you believe in the free market, why do you support a system where management has zero exposure to loss created even by their own incompetence?"
This is the result of The Corporation, a legal fiction created by government. This is NOT the free market.
But where is the outrage from your political side of the equation at the system that allows management in cases like this to walk away with millions?
Troll hypocracy on display.
So fair play.
But where is the outrage from your political side of the equation at the system that allows union leaders in cases like this to walk away with millions?
But where is the outrage from your political side of the equation at the system that allows management in cases like this to walk away with millions?
Troll hypocracy on display.
So fair play.
But where is the outrage from your political side of the equation at the system that allows union leaders in cases like this to walk away with millions?
Obviously not enough people wanted Hostess products or the company would still be around... Bad financial choices, bad food, and bad management - but somehow it's all the workers' fault? I think not.
False equivalency. The top executives and their compensation are approved by the board (for better or for worse), which represents those that actually OWN the company. The union does not own the company. The union doesn't own shit. So don't sit there and pretend that a union boss that doesn't produce ANYTHING has any claim on making decisions in a company he doesn't own. Workers were crossing the line to keep Hostess open under threat of union fines, and still the union wouldn't budge. Maybe the executives were overpaid, maybe they weren't. Maybe they were total incompetant assholes, maybe they weren't. That's up to the ownership and the board, not anyone else. This fucked up morality where people believe that once they get paid to make fucking TWINKIES for someone means they should have a say in how the company is run is ri-goddamn-diculous.
You know what I did the last time I had a job where I felt the situation was unfair? I quit and found a different job. If you're worth two shits, that is what you do. This whiny shit where you bring down the organization through unrealistic collective demands is, and has always been, the most myopic retarded invention in the modern economy.
A company that made chemical food that no one needed.
I suspect we could get by ok without unions too.
Hoisted on his own petard.
Exquisite.
Sure -- Walmart workers are "getting by" just fine.
Last I check, Walmart workers still had jobs.
It's not "everybody loses", it's only the suckers that lost. The people at the top did not lose.
"
Exactly right. A company that made chemical food that no one needed. Management that paid itself hundreds of millions to run a company into bankruptcy over a period of years, while bitching that workers made too much. And a brand that will live on to make more worthless management types money in the future, while the workers and bondholders of the old company lose everything. A few at the top prevail and everyone else gets fucked. Pretty much exactly what Ayn Rand teaches us is the desired model of human interaction."
Answer: I wonder why Management doesn't need to form a union? Oh right, because they earn their position. None-the-less, it is rather disingenuous for you to support truck drivers earning $125,000 a year. Is that the new middle class? If so, it's only because of the Obama-bucks being printed all over the country.
To the tune of Supertramp's Goodbye Stranger:
On the day before Thanksgiving,
The doors were closed for good
At the factories that made things
Analogous to food.
Like a cupcake with no filling,
Like an empty cherry pie,
Like a Donner Party dinner,
The carcass was bled dry.
Left with worthless equity shares,
The employees were all sacked,
And Twinkie the Kid
Was shot square in the back.
Goodbye Ding Dongs, Ho-Hos too,
Off to Ebay, sold to fools.
Stalking horse bids, judge, trustee,
Move along folks, nothing to see.
Goodbye Hostess Wonder Bread.
Piss poor management left you dead.
Union bosses raped you raw.
Exec bonuses: coup de grace.
Queue in 5 pages of cream-filled sarcasm...
.
Twinkie: Enriched wheat flour, sugar, corn syrup, niacin, water, high fructose corn syrup, vegetable and/or animal shortening – containing one or more of partially hydrogenated soybean, cottonseed and canola oil, and beef fat, dextrose, whole eggs, modified corn starch, cellulose gum, whey, leavenings (sodium acid pyrophosphate, baking soda, monocalcium phosphate), salt, cornstarch, corn flour, corn syrup, solids, mono and diglycerides, soy lecithin, polysorbate 60, dextrin, calcium caseinate, sodium stearoyl lactylate, wheat gluten, calcium sulphate, natural and artificial flavors, caramel color, yellow No. 5, red #40.[10]
The loss will surely be felt most acutely at America's obesity clinics.
This could be the Straw(berry cupcake) that breaks the Ca(ra)mel (HoHo)s back.
Plastic food.
http://www.youtube.com/watch?v=Yy-4TX9zrVw
and delivered by $125K a year union truck drivers.
You forgot to add that the soybean, cottonseed, canola, corn and wheat are genetically modified. The damn thing has more corn in it than corn! High-fructose Cornkie.
Weapon of Mass Obesity
Suddenly, I'm nauseous...
You're not supposed to post the recipe for Zyklon B on a public forum like that.
Is it too late to sell my futures in Yellow No. 5, red #40 and processed corn products?
Wouldn't be surprised if the actuaries for Obamacare ran the math on the cost of 15,000 more going onto employee insurance vs the cost of sugar addicted people who keep bombarding themselves with cancer causing ingredients.
Being and ex-food scientist I can tell you with certainty that the amount of yellow#5 and red#40 are less than 0.001%. A small amount of artificial color goes a long way. It's just not worth owning futures in art colors -lol
Yellow slime..........
What's truly amazing is that it goes in one end as a twinkie and comes out the other as a Ho Ho...
Fuck it, SLAUGHTERER INDUSTRIES will buy Hostess. I will have my lawyers and pitchteam submit my BID this weekend.
SLAUGHTERER INDUSTRIES would be a more apt name for those gross snacks, given the ingredients listed above.
rename 'em Death Bombs, and leave the "twink" label where it has found favour of late. . .
Gonna RE-BRAND "Twinkies" as "Slaughterers" and make them in BLACK with RED filling. Expect sales increase of 300% to justify takeover offer.
Sounds metal.
Better get Dethklok for the TV ads.
"Go, go forth, go forth and fatten!"
When is the IPO?
Got a YouTube I can use for Dethklok? Post link please, you are appointed advertising manager, BTW.
Yo, it's even food-related...
If you can buy the brands for pennies onthe dollar and have either or both production capabilites and a distribution network, then twinkies may be back and actually profitable for a change...
Im sure that even the Hostess brand itself will not die. Why would it? Its an asset to go on the block too. Im guessing one of two things will happen...
Factory will get piecemealed out at auction and someone will pick up the name and formulas for a song. They will leverage their existing infrastructure to make the products and it will be like a hostile buyout but with no mess.
Two, the whole asset will get bought out, unencumbered (perhaps by current private owners with the help of equity) for pennies on the dollar.
The big thing is shedding the union garbage and the debt
Blacker than the blackest black times infinity...
Somewhere Anderson Cooper smiles.
Somewhere Anderson Vanderbilt Cooper, Andrea Greenspan, and Jon Leibowitz smiles. Fixed it for ya.
I don't lose. My wife said she'd have sex with me again whenever hell freezes over or when they stop making Twinkies......YES!!!!!!!
if she's been eating twinkies for that long is this necessarily a good thing?
and maybe the cream filling is a bit dried up.
Mrs K was very disturbed the other night when I rolled my yang in yellow fuzzy confection, stuck it out at her and told her it was her last chance for a taste of a Twinkie....
(fighting the dogs for space on the couch is only amusing until about 2 a.m. after adult swim is over)
Mrs. K seems to have made a poor choice of spouse as well.
lol
Don't erase the bookmarks to your Internet porn sites just yet. Twinkies will rise again under another parent company. Never underestimate the average obese American's craving for junk food. And now that marijuana laws are being relaxed, Twinkies are guaranteed to be around for quite awhile.
Go long home delivery pizza joints.
(Heh he he. He said joint, get it, joint?)
I've only ever had one Twinkie in my entire life but now I crave one badly. Whomever takes over will hit the jackpot. Pent up demand, no pension obligations, minimum wage.......
and talk about free advertising!
Most people don't know this, but you can make a weed pipe from a twinkie.
i shoulda let you have the first comment, but who knew?!
Big Bird, would you please turn off the lights when you leave?
So long, whipped lard...
This guy is going to be PISSED http://www.youtube.com/watch?v=xPcYXrs_LWA
That was perverted.
Jesus, man...
You are one sick bastard....
That is straight out of a bad acid flashback...
Gonna need serious profesional help, psychological rehabilitation again
Reminds me of the time I got electro-shock therapy whilst on acid.
Wow dickhead, that really made me hungry for some disgustingly fat tittied sweat-soaked mushy body temp confectionaries. I think Little Debbie's may want to consider changing her name after that highly stimulating visual experience.
For what it's worth, I feel better now knowing there is some justice out there and this BS won't be tolerated.
Don't mind me while I'm grave dancing.
A two-fer. Elmo and Twinkies in one week. Being a kid isn't what it used to be...
the truths will out eventually, and the kids can breathe a sigh of relief.
Only thing left for the kids to do is gonna be sucking turtles out of their shells...
Won't miss this crap. Anybody who is craving these crap products, just do an internet search for make your own twinkies. Hell, make a day of it with the kids. Quality time, too!
good luck with that,you'll need a haz-mat certificate to aquire the ingredients
Take your Ho-Ho's and get out of town!
Finally we can outsource our Twinkies making to China and fat Americans everywhere can gorge themselves for less.
no doubt they will up the lead level beyond the current USDA rec.
I can't wait to see just what the Chinese will make Twinkie's out of.
Do we know what they were made out of here?
some ingredients are mined out west, literally. how could that possibly be bad?:
http://www.amazon.com/Twinkie-Deconstructed-Ingredients-Processed-Manipulated/dp/0452289289
melamine filling
pink slime w high fructose corn syrup
The USDA recently, actually upped the amount of sugar in the diet.
" and fat Americans can gorge themselves for less"
.....because...
(brainwashing article by the globalist pigs)
"Obesity gene linked to happiness"
Fat people may be more jolly because a gene which contributes to obesity also lowers the risk of depression, researchers claim.
http://www.telegraph.co.uk/health/healthnews/9690722/Obesity-gene-linked...
the basic plan for Europe and the U.S... destroy and strip the carcass of anything of value.
I call dibs on the leather boots.
<Need a new shoulder holster for my Sig.>
Got a Tac light for that sig?
I seem to recall something about a busted toe and Irene.
Ahhh.....the good old days.
I'll take a pass on the Tac light. I really don't want to see what's left after America shoots itself in the foot.....again :)
Ha! A Tac light just makes a good target. I thought that was NOT the idea. Oh, well.
True, but it also helps to see your target before you start shooting at it... there are disorienting strobe functions... or command on/off switches... so it's not like you have to keep it on all the time and draw a bullseye on yourself.
But...but...but they use them all the time in the movies. :)
<Maybe a laser instead?>
Hows about a couple claymores with pressure pads?
Modern life....
Mrs. Cog just vetoed your idea. Something about our cat and a big mess to clean up. :)
<Here kitty kitty.>
When were you in my house last year? Must have been before the boating accident.
Zero Hedge seems to attract a LOT of inept boaters. :)
<You're gonna need a bigger boat.>
All of our sailors were tossed overboard.
All our sailors were tossing off overboard. Thats why they are called seemen...
Wear your gun on your belt like a real man!
Yea exactly, thats all the future holds. FED's big fire sale....sell it all off to the highest bidder.
the best part... they buy everything with wealth stolen from us and others around the world...
a few yrs back in chicago ..fannie mae went out of buisness because of labor issues but someone else bought the name and recipies in bankruptcy and it was like they didnt skip a beat..someone will but the rights anf make them again..hell they had 2 billion in sales last year so there is money to be mad in the brand..
OH sure, well they'll be made in China now....where does anyone think 'assets' will be sold off or given to?
Great news for markets I'm sure, somehow or other.
So I guess twinkies didn't outlast cockroaches
neither will you humans
Ah, the bakery didn't outlast the cockroaches....
Them Twinkies just might, yet....
Thanks for the info, now what is the trade?
Hmmm, I'll trade you my PBJ and this orange for your Ho-Ho.
Euro bears will probably see this as dollar bullish.
I wonder how last night's flight to "safety" worked out for everybody....
In school its more like..show me your twinkie and I´ll give my PBJ and Orange...and throw in a big banana if you want...
Thats how fascists bust up a union, Bankrupt. Then they will reopen using the same name under new management and hire non union at 10 bucks an hour limited bennies. Gotta compete? ALL LEGAL LIKE.
Who loses?
Who gains?
Same as it ever was.
No, no, no. A thousand times, "No". I need a union to protect my above-market salary. Is it too late to call Obummer? He muscled in the GM case to preserve salaries and benefits, making sure new jobs go to China. Whose gonna protect me? Oh well, disability and unemployment gives me what I need, so who cares?
If you're refering to the execs salaries and other compensation. Yes, that's WAY ABOVE market or at least infintely more than any of these assholes' productivity is worth.
that's WAY ABOVE market or at least infintely more than any of these assholes' productivity is worth.
Describing union employees? Sounds like it.
Management has their own unions, called lean, 6 sigma, tqm, iso, or a bunch of other management strategies. They get together with lawyers and conspire on how to fuck employees, customers, suppliers, investors, and our own country.
I agree management tries to screw everybody to make their pay and bonuses and beneifts better.
But unions do the very same thing. The identical same thing, no difference at all.
And employees get a twinkee up the a$$.
Sweet dreams
Next up SEIU......I hope...
But boy am I going to miss that sodium stearoyl lactylate...man that is good stuff
Maybe it's good that Twinkies are no longer available to the 1 out of 3 Americans that fall into the "Obese" category.
Sugar, lot's of it in different forms and lot's of GMO foodless additives.
Sweets and GMO's are in BOLD.
(For all you healthfood vegans out there who were closet twinkie eaters. It's got beef FAT in it.)
Enriched Bleached Wheat Flour [Flour, Reduced Iron, B Vitamins (Niacin, Thiamine Mononitrate (B1), Riboflavin (B2), Folic Acid)], Corn Syrup, Sugar, High Fructose Corn Syrup, Water, Partially Hydrogenated Vegetable and/or Animal Shortening (Soybean, Cottonseed and/or Canola Oil, Beef Fat), Whole Eggs, Dextrose. Contains 2% or Less of: Modified Corn Starch, Glucose, Leavenings (Sodium Acid Pyrophosphate, Baking Soda, Monocalcium Phosphate), Sweet Dairy Whey, Soy Protein Isolate, Calcium and Sodium Caseinate, Salt, Mono and Diglycerides, Polysorbate 60, Soy Lecithin, Soy Flour, Cornstarch, Cellulose Gum, Sodium Stearoyl Lactylate, Natural and Artificial Flavors, Sorbic Acid (to Retain Freshness), Yellow 5, Red 40.
Left out the various animal feces? They are in the higher than 2% category
I was surprised at Enriched Bleached Wheat Flour. Who'd a thunk there was some form of food in there.
*cough* dwarf wheat.
http://www.shesugar.com/autoimmune-diseases/dwarf-wheat-another-arrow-ba...
seriously, any corporate manufactured supermarket food is toxic - all ingredients are under suspicion, to blindly trust is insane.
Despite my vociferous defense of the free economic model in above comments, I must say - I hate twinkies and ho-hos, sno-balls, and the more I learn about whats in them like dwarf wheat (thank you for your post) the more I'm staying FAR AWAY from certain items.
I need to educate myself on current food additives. I knew high fructose corn syrup was bad. Did not know anything about WHEAT.
The grocery store is now a maze of unexploded incediary dietary health explosives. I just found out that CANNED foods were bad because of some issue w/lining - so there goes the idea to eat canned vegetables but come on! I can't eat fruits/vegetables from Mexico because of waste usage as fertilizer, I can't eat them from Chile because of carbon footprints, China uses anti-freeze.
Where do I get my vegetables and fruit? California is closed for business since the EPA shut down the growers because of a minnow and the environmentalists.
We're all going to starve - I think this is their plan: Area 21. Its going into effect.
Thanks George HW Bush for signing that UN thing.
If you're not shopping exclusively in health food stores (and reading EVERY label and knowing what every ingredient is and what it does to your body/mind and buying accordingly) and if you are not growing your own organic vegetables at home so you can see the whole process from seed to harvest, then you are DEAD MEAT even if you're a vegetarian. Add to that, the need to stop eating at all restaurants.
It's getting that dangerous out there.
I think Long John Silvers gets their fish from Fukushimi Diaitchi.
I ate some and it felt like my tongue and innards were glowing or something.
OT: WTI today, LULZ.
One the Hillary is gone, the boyz will play with their rockets again.
Now.....if I was a union controlled company....and wanted wage reductions...now would be a pretty good time to go for it...before Obama makes it illegal to cut a union job or wage....
You also have to wonder what this will do to this shopping season. This story has saturated the news. The average Joe might just think twice about how safe their job really is.
The irony is that the shelf life of a Twinkie is longer than the life of the company that makes it.
The real irony of it is that the Twinkie has more value in it than a dollar. Are Twinkies the next safe store of wealth? It holds its value better than the dollar, long shelf life, and is edible.
Can I stack 'em?
Yeah, I kept my Twinkies in the boat with my guns 'n' gold, before that unfortunate boating catastrophe. I wonder if it's worth hiring a salvage crew so I can list my endangered snack products on ebay.
If China starts to make them lets call them Chinkies!
If Mexico starts to make them lets call them Los Twinkos!
If the Fed steps in they can call them Berninkies!
They also could make smaller versions called Twinks!
Slogan: "Everyone loves the cream inside!"
If GE makes them they'll be GEnkies
Make a cheese version(sans real cheese) called:
Immeltables!
Genkem ?
If "Friends of Goldman" pick it up we can call them "Squinkies".
Theyre the Blankfeinest around!
That other snack could be "Mo-mo's".
Hershey foods sent a lot of their manufacturing to Mexico. That's where they make the Reeses peanut butter cups now.
They pronounce it the same way, except they roll the first letter R.
I just saw "Mike" the bakery union guy on CNBC who clearly is out to lunch on economics and he said one thing that came out at the end which really torqued me: I'm out for me.
If that were true? Then he should've walked away from the job at Hostess and gotten a job with Sara Lee. WTF? Instead, he and his ilk bring down 10,000 others because as he said "I'm out for me"
He went on to say that another bakery will come along and buy Wonderbread (the unit he works at). His pension will be back (???) and so will his paycheck (???). He's willing to not get a paycheck, as he hasn't gotten paid for the last 2 weeks, then go 5 years at 27% cut.
What a fuc*ing dufus. That averages out to a 5.1% cut per year big whoop but he went on to say that his PENSION was the [item] that was getting hacked the most.
Excuse me - if you even HAVE a pension that is not social security, and it gives you ANYTHING based on wages, then TAKE IT AND BE DAMN GRATEFUL.
This guy just doesn't get it. I hope some group comes along and doesn't use the 3000 union idiots. I really do. Teamsters were willing to give. The other unions were willing to give (seems they had something like 400 unions according to CNBC- wow) up SOMETHING to make this work.
And oh, by the way, the bakers union boss? He wasn't even at the mediation and the bakers union? is fine with that. they want the company sold into pieces.
15,000 people out of work because of 3000 bakers.
what a disgrace.
Mike didn't loose that pension himself.