Posted by wisbaker on November 17, 2012 at 08:20:49 from (207.118.181.192):
In Reply to: $8 Twinkies??? posted by downsouth on November 17, 2012 at 07:03:50:
At $8 for a box of Twinkies they might of been able to pay those Teamster wages! Undoubtedly the trade marks, recipes and plants will be sold, that's the assets that the bondholders have left. By liquidation they can cleave these assets away from Union contracts and recover some or all of the money they spent buying the debt. After the GM debacle it becomes more risky to buy Corporate debt, the equity companies might be out of work OR they'll let the companies default, get liquidated and buy the assets they want at liquidation to create new businesses to make the old products. That way the workers have no shot at keeping their jobs or benefits, but hey the UAW got bailed out so I guess it was worth it. Got to protect the drunkards that made that leaky oil burning POS in the drive way!
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