The bankruptcy judge listened to Hostess request for liquidation of assets but noted a technical aspect. The Union never entered any mediation – they just went on strike. Thinking the average rank and file union member might have a divergent opinion now they they realize the company will indeed liquidate, the Judge says give mediation a try now, thinking the union will pressure the leadership to change opinion.
TWINKIE PRIDE – Hostess Brands Inc. and its second largest union will go into mediation to try and resolve their differences, meaning the Irving, Texas-based company won’t go out of business just yet. The news came Monday after Hostess moved to liquidate and sell off its assets in bankruptcy court citing a crippling strike last week.
The bankruptcy judge hearing the case says that the parties haven’t gone through the critical step of mediation and asked the lawyer for the bakery’s union to ask his client, who wasn’t present, if he would agree to participate.
The case is being heard by the U.S. Bankruptcy Court in the Southern District of New York in White Plains, N.Y. (more)
Meanwhile in what can only be described as seriously Ironic an equity company named Sun Capital Partners has offered to buy out the Hostess company, run it as an “going concern”, and thereby save the jobs of the stupid union fools who refused to negotiate a sustainable contract and went on strike.
The founder of Sun Capital Partners, Marc J Leder, is the person who hosted the private fundraiser at which Mitt Romney made his infamous 47% statement, Host of Romney party dubbed ‘private equity party boy’.
So the parasitic prog union members would actually be saved by the very guy they used to ridicule Mitt Romney and reinstall Barack Obama.