Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
So, are these managers going to themselves physically shut down the plants?
Or are the line workers going to do that under the eye of the managers?
The line workers are not needed as the managers will be doing the work need as per judge to sale assets ;pay the bondholders and other debt per judges order. No line people needed for that. It was the bankrupsy judge that alolow this or the managers would just leave and they are paid to shut the compnay down i orederly manner as outlined by the judge.That s normal in a bankrupsy so those owed money are paid fro the sale of asstes as much as possible.
I think you mean GM. Yes, bondholders and retirees got shafted to bail out the UAW.
Let the USG take over and rewrite the rules of bankruptcy to their own agenda.
I think you mean GM. Yes, bondholders and retirees got shafted to bail out the UAW.
Let the USG take over and rewrite the rules of bankruptcy to their own agenda.
Yeah, those poor retirees, well, at least romney got some money out of the deal.
We are going to show companies that if they pay cheap wages and offer crappy benefits, no one will make their products and they will go out of business!
We aren't going to take it anymore!
When the employer pays such cheap wages that their employees are below the taxable income and qualify for food stamps and Medicaid, that company is stealing from all tax payers.
6 years after the strike, Hostess lives on, better and financially stronger, than ever.
Sears is asking a bankruptcy judge for permission to do the same. If it were me, I'd laugh them out of court. Bonus for what? Running the company into the ground. Sears needs to be liquidated. Stop the madness.
Sears is asking a bankruptcy judge for permission to do the same. If it were me, I'd laugh them out of court. Bonus for what? Running the company into the ground. Sears needs to be liquidated. Stop the madness.
This is Eddie Lampert's mess. His management style is Ayn Rand inspired. Read about it. Divisions compete with each other. In a world where you have to compete with Amazon, making divisions compete internally is beyond idiocy. Overall the Eddie Lampert plan for Sears appears to be a slower than normal bust out as done many times before by other private equity/ hedge fund parasites.
You are correct in that they bonuses need to be thrown out. Especially in light that they just reduced severance for the full time grunts from 8 weeks to 4 for those that agree to stay to the end and zero for the part timers. Hopefully most of those affected will tell them to take their 4 weeks (or nothing) and .... [you know], leaving the company empty of employees to handle the liquidation.
Sears is asking a bankruptcy judge for permission to do the same. If it were me, I'd laugh them out of court. Bonus for what? Running the company into the ground. Sears needs to be liquidated. Stop the madness.
Court should approve it, so the correct mgmt. team is there to maximize creditor payback during liquidation.
The bankruptcy trustee sold the cake business to Appolo MAnagement in 2013, free and clear of all prior labor obligations.
Appolo invested heavily in automation and fired 95% of Hostess employees.
and the brands have performed even better post Hostess.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
