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Hostess Brands replies to strike announcement



Published: Sat, November 10, 2012 @ 12:00 a.m.

Hostess Brands replies to strike announcement

IRVING, Texas

Hostess Brands, Inc. issued the following statement today in response to an announcement from the Bakery, Confectionery, Tobacco Workers and Grain Millers International that its members at some Hostess bakeries have gone on strike as of today.

“A widespread strike will cause Hostess Brands to liquidate if we are unable to produce or deliver products. If that’s the case, the company will move promptly to lay off most of its 18,300-member workforce and focus on selling its assets to the highest bidders.

“We urge our employees to remain on the job to rebuild the company. Sixty-four percent of our workforce is composed of non-union employees and employees represented by unions that ratified our proposals for modified collective bargaining agreements. We believe they have earned the right to rebuild Hostess.

“We know the concessions are tough, but it would make more sense for unhappy employees to simply leave the company voluntarily than to strike and cause the company to close down, forcing everyone to lose their jobs.”

J.C. Penney posts big 3Q loss

NEW YORK

J.C. Penney reported it lost $123 million, or 56 cents per share, in the quarter ended Oct. 27. That compares with a loss of $143 million, or 67 cents per share, a year ago. Revenue dropped 26.6 percent to $2.93 billion in the quarter.

Shoppers still are turned off by the company’s pricing plan implemented in February that gets rid of hundreds of sales events in favor of everyday low prices.

J.C. Penney is tweaking its strategy again and will begin to display on price tags the “suggested” price from manufacturers along with Penney’s “everyday” price.

It also is hoping to bring back customers with its big Black Friday sale.

Wire reports

Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.


Comments

1georgejeanie(731 comments)posted 1 year, 5 months ago

Union thugs not seeing the handwriting on the wall. Goodbye Hostess, it has been nice.

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2gdog4766(1253 comments)posted 1 year, 5 months ago

Georgejeanie, I'd call you a a$$hole but I am sure you have been called that so often it has no,effect on you.

Suggest removal:

3VINDYAK(1799 comments)posted 1 year, 5 months ago

Georgejeanie is spot on. Union thugs are alive and thriving.

After I left my union job for a promotion to a salaried position and then the union went on strike, I felt the wrath of union thugs. It started with threats to those crossing picket lines at the company parking lot. Someone poured sugar in my gas tank. Then at the bowling alley my vehicle came up missing. It was found in a plaza parking lot just down the road. My family received harrassing, obscene phone calls at home. Signs and stolen orange construction barrels were found blocking my driveway.

Don't tell me union's have caring members...they will stick you when your back is turned everyday, anyday. To prove my point, just re-read gdog's post above.

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