Friday, November 23, 2012 – 10:00 a.m.
Here’s some news of interest flowing across the transom this Friday morning.
Union forces Hostess Brands into liquidation
The Bakery, Confectionery, Tobacco and Grain Millers Union had the final say at the end of this sad chapter at Hostess Brands.
The union refused to accept any further concessions and decided it was best to put its members on the street.
Hostess, the maker of the famous Twinkie, Wonder Bread and other products, will now sell itself off in parts.
The company’s closure equates to roughly 18,000 workers seeking unemployment benefits.
First-time jobless claims above 400,000 for second straight week
First-time claims for unemployment benefits fell 41,000 to 410,000 last week.
The four-week moving average climbed to 9,500 to 396,250.
Any number over 375,000 is viewed as bad for the economy.
The elevated number is being blamed on fall out from Hurrican Sandy.
Black Friday reportedly off to busy start
Post-Thanksgiving Black Friday is reportedly off to a busy start.
Yes, the designated kick-ff to the holiday shopping season is in full swing.
It’ll take some time to figure out how deep retailers discounted merchandise, and the resulting profit margins.