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In July 2012, the New York Post reported that negotiations with the Teamsters Union, led by Silver Point Capital, were close to an settlement permitting Hostess Brands to cut worker pay and benefits if the company continued funding its pension plans. They don't deliver to some areas, however you'll be able to choose up your package deal at the submit workplace for up to a month. Fortune reported that unions in the company had been sad with Driscoll's proposed compensation package deal of $1.5 million, plus money incentives and $1.Ninety five million in long-time period compensation. According to Hostess, it employed 19,000 individuals and was greater than $860 million in debt. In January 1995, Interstate acquired the Continental Baking Company from Ralston Purina for $330 million and 16.9 million shares of Interstate inventory. On January 10, 2012, Hostess Brands filed for Chapter 11 bankruptcy for the second time. Rayburn cut the salaries of the 4 top Hostess executives to $1, to be restored by January 1 of the next 12 months or earlier. Art icle h as be en g en er ated by GSA Content Gene ra tor DE MO
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