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Posts Tagged ‘United States bankruptcy court’

The Demise Of The TwinkieHostess Files Motion To Liquidate Liberal Unions Rejoice.  But the former employees can land on unemployment, section 8, SNAP food stamps, and Obamacare. Union bosses still receive their Christmas bonuses.

I am trying to keep a running tally of the jobs lost since the reelection of Hussein. But I never ate Twinkies, I am a Philly Tastykake person.

CEO Gregory F. Rayburn in a statement,

Despite everyone’s considerable efforts to move Hostess out of its restructuring, when we began implementing the Company’s last, best and final offer, the Bakers Union chose to stage a crippling strike. This affected Hostess’ ability to continue to make products and service its customers’ needs and pushed Hostess into a Wind Down scenario. As a result, we are forced to proceed with an orderly wind down and sale of our operations and assets. We deeply regret taking this action. But we simply cannot continue to operate without the ability to produce or deliver our products.

There’s no way to soften the fact that this will hurt every Hostess Brands employee. All Hostess Brands employees will eventually lose their jobs – some sooner than others. Unfortunately, because we are in bankruptcy, there are severe limits on the assistance the Company can offer you at this time.

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Obama could place college student loans to be discharged in bankruptcy court. This would lead to young voter turnout for Obama, 2012.  Current students in default cannot place their federal or private loans in bankruptcy at the present because of the 2007 passage of the “College Cost Reduction Access Act.” With this new law, the students would avoid repayment.  After the restructure of college loans, the US is responsible for more than 90% of recent loan origination.

Via Wall Street Journal

The new report says that Congress should consider letting borrowers discharge their private student loans through bankruptcy. This would reverse a hard lesson learned during the 1970s. After a surge in former students declaring bankruptcy to avoid repaying their loans, Congress acted to protect lenders beginning in 1977.

President made a big deal over cutting student loan interest-rates to save a few bucks, and now he’s telling young voters he’s making it easier for them to avoid repaying at all. Obama wants votes at all costs.

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