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?
Anyway, the new company will be opening up plants in four states, and has shown no interest in working with the BCTWGM to get those plants online. Which sounds very, very sensible; plus, hey, new Twinkies in a few months! Which is good, because I didn’t really want Zombieland to become dated quite that fast…
Hostess Reopening Plants, Without Union Workers abcn.ws/11Zgq9L
— ABC News (@ABC) April 26, 2013
Moe Lane (crosspost)