Hostess, In Chapter 11, Faces Union Strike

Photo of Douglas A. McIntyre
By Douglas A. McIntyre Published

Hostess went into Chapter 11 to save itself. The most may backfire. Unions, concerned about possible job losses may strike the company, exacerbating its financial woes

According to NY Post

Representatives of the union hope the strike authorization, if approved by the rank and file, will move management to soften its stance on givebacks ahead of a court hearing in March that could lead to Hostess Brands winning court approval to void the current collective bargaining pact.   A strike could be devastating for the decades-old baker, the largest in the country. The union, in a letter to its members, acknowledged as much — saying that if they walk off the job over the draconian cuts that are being proposed, the company could shut down.

Photo of Douglas A. McIntyre
About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

Continue Reading

Top Gaining Stocks

HPE Vol: 153,197,465
ENPH Vol: 8,360,053
GLW Vol: 18,152,646
APTV Vol: 6,761,325

Top Losing Stocks

TTD Vol: 21,905,513
INTU Vol: 7,383,018
CTRA Vol: 73,319,495
CBOE Vol: 5,000,011
HP
HPQ Vol: 29,259,826