TWINKIES ARE SAVED! Hostess And Bakers Union Agree To Mediation
Twinkies have been saved — for now.
Hostess and the Bakers Union have agreed to mediation, preventing a shutdown, CNBC reports.
There are 18,500 jobs at stake. 5,000 of the workers are members of the Bakers Union.
Judge Robert Drain of the U.S. Bankruptcy Court of White Plains, N.Y., suggested it as a way to resolve their differences, The Wall Street Journal reports.
"Moving to a liquidation is also a significant economic hit, and I think that many people, myself included, have serious questions as to the logic behind the decision to strike and a concern that it may be as a result of differences as far as information and goals," he said.
"I'm giving the union, as well as the debtors and their lenders, the last chance."
Make it happen, folks.