It ain't over 'til it's over at Hostess.
At the urging of the bankruptcy judge, the company and the bakers' union have agreed to mediation in an attempt to avoid liquidation. Let's hope the bakers' union leadership gets realistic asap or sooner.
The bakers' union is in no position to make demands at this point. It should make every effort to save the company instead of continuing to play hardball, which obviously hasn't worked.
Congratulations to the judge for giving them a lifeline. Now let's hope they take it for the sake of all 18,500 Hostess employees and Hostess management and investors as well.
In any event, the case has been adjourned by the bankruptcy judge until 11AM Wednesday morning.
In the meantime, it appears that the company will meet with the bakers' union leaders and try to put together a deal.
We'll stay tuned.
Thanks. Bob.
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