Teamsters Fight Hostess Ch. 11 Proposal With Rival Plan

Law360, New York (April 16, 2012, 4:13 PM EDT) -- The Teamsters union rejected Hostess Brands Inc.'s proposal for restructuring the company and released its own plan Monday, a day in advance of a New York bankruptcy court hearing that will determine whether the company can abandon its collective bargaining agreements with unionized workers.

The Teamsters announced a restructuring agenda that emphasizes equal sacrifice from workers and management, expressing anger at recent news that executives had received major pay raises in the run-up to the bankruptcy, after the company had stopped contributing to pension plans....
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.