Hostess Brands today begins the process of selling off its assets in a bankruptcy court in New York. That process has struck fear in the hearts of lovers of the sugary-sweet Hostess products, like Twinkies, Ding Dongs and Ho Hos. Sensing a Twinkie panic and a possible shortage, over the weekend some entrepreneurs took to eBay, offering up many Hostess brands at some very exorbitant prices.
American is currently seeking to cut costs in bankruptcy protection so the flight attendants' union pushed hard for this vote — warning that rejecting the contract could mean even deeper cuts or furloughs. The company's trying to cut about a billion dollars in labor costs. Mechanics and other union workers had previously accepted new contracts but pilots rejected American's latest offer earlier this month.
The financial morass that San Bernardino, Calif., plunged into last month widened on Wednesday, when city officials filed an emergency request for bankruptcy protection with a federal bankruptcy court. The city's estimated liabilities are greater than a billion dollars.