This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Teamsters Statement On Ruling In Favor Of Liquidation Of Hostess Brands

Official Statement of Teamsters General Secretary-Treasurer Ken Hall

WASHINGTON, Nov. 21, 2012 /PRNewswire-USNewswire/ -- Today, Teamsters General Secretary-Treasurer Ken Hall made the following statement regarding Judge Drain's ruling in favor of the company's motion to liquidate Hostess Brands Inc.:

(Logo: http://photos.prnewswire.com/prnh/20100127/IBTLOGO)

"With Judge Drain's ruling today, more than 18,500 workers will be left without a job as Hostess proceeds with the liquidation of the company. We estimate the liquidation process will occur over the next six months as the company sells off assets.

"For our 6,700 Teamster Hostess members, our union will be focusing its efforts on ensuring that they receive what they are owed in the form of wages for hours worked accrued benefits. We will also make sure our members understand their options and assist them in filing for unemployment benefits and connecting them with local labor councils and agencies that offer other out-of-work assistance.

"This is truly a sad day for thousands of families affected by the closing of this company. I want to assure our members that despite this outcome, they do not stand alone and their union will continue to work on their behalf to help them find new employment."

Founded in 1903, the International Brotherhood of Teamsters represents 1.4 million hardworking men and women throughout the United States, Canada and Puerto Rico. Visit www.teamster.org for more information. Follow us on Twitter @Teamsters and "like" us on Facebook at www.facebook.com/teamsters.

SOURCE International Brotherhood of Teamsters
Copyright 2011 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 17,689.86 -56.12 -0.32%
S&P 500 2,103.84 -4.79 -0.23%
NASDAQ 5,128.2810 -0.5040 -0.01%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs