Nov 20, 2012|
Automatically Generated Transcript (may not be 100% accurate)
Twinkies may not gone for good hostess and it's striking bakers union have agreed to mediation -- -- shut down it would've given 181500. Workers the acts. Let's find out more reporter Emily -- is on the WB and lifeline. From KR LD radio in Dallas Emily good morning. And tell us what's -- what's going on here what's the latest with hostess. Really was a big surprise yesterday. Would the judge making the decision. Can't go ahead and essentially reject hostesses. Requested that they be able to kill often and liquidate all of our assets -- the judge -- -- you're gonna go back and you're gonna have one around in the negotiation with. Your second largest union. These are the -- these are the folks who went on strike and essentially played a game of chicken bless the leadership and hosted. The officials without the consent if you don't return to work we're gonna liquidate the company speakers -- not return to work and of course. We know what happened. But they're gonna go back to the bargaining table and initial this is that. Is that they may be able to work out a deal Accenture is happy news for twinkie lovers everywhere. This whole and post the thing is packed quite an impact emotional impact -- Sure the guys have seen all that -- selling the product her high dollar. Online and in stores then and people upset about the possibility of losing some of these products which reminds them of their childhood. It's also been interesting to watch because and what's playing out between the union's leadership. Aren't the same issues that we see playing out in other companies American Airlines for example also based -- access. I think that hostess has captured people's imaginations is that the kind of paying attention to that paying attention with the unions are asking for and what the company says it it had to do in order to survive. Yeah you're right about the iconic brand to some boxes of -- is on -- Were for -- the asking price was a hundred dollars which. I couldn't -- Emily. Emily this threat to liquidate it was just a negotiating. -- -- -- I think that that that they were hearing about it and the reason I think there are theories about it. Was because the hand the CEO of the company and the company is based here in the Dallas area -- to the Wall Street Journal. Yesterday -- the day before and said that he didn't see a future for how he he did not try to sell the company at all you know he even went as far as to say I don't know if anybody would even want to buy it. Posted at a lot of problems this is not just to -- unions issue that has not just labor. When they came out of bankruptcy. This is their second bankruptcy when they came out of bankruptcy the first time less than ten years ago. They came out with 200 million. Dollars more debt and then when they went in to bankruptcy. And down that company essentially -- you know a lot of money. 22 different private equity firms. And though there's a huge issue with rats he also failed had been down and what would say that they. Didn't take opportunities to maybe rebrand some of their products or capitalize on the kitchen net that the products. That -- if not then what they work for example you know thirty years ago maybe a whole -- twinkie with a I don't know. Gluten free cupcakes. -- didn't keep up with the times they had the labor issues in this. Crushing debts. And this deal that they made with two private equity firms those of the three things that a fairly dramatic happening to this point I don't think it -- the black I think they were ready to get out. -- how long he has a judge given them to try to work this out now. That is a very good question. I don't know the exact into that but my guess it'd. That they will have to go back and looking through here Wednesday looks like you're gonna go back again for the judge. -- so not a lot of time. Now a lot of times that maybe they can work something out. Okay well it's -- an interesting development. And when we appreciate you joining us on short notice thank you very much. -- Emily troupe from KR LD radio in Dallas.