Bloomberg News' Phil Milford on Hostess
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Tami Luhby, CNN MoneyTami Luhby, CNN Money
out there. All my family is out and Antarctica there in -- hockey players all these Bruins players that you love -- -- where you think they're from either from you figure from Massachusetts. What -- -- the American players on the crossed amber is here now so why. Why did you leave. My dad a transfer okay Kampman you'd still be their -- guys that are not facts you'd go back tomorrow -- if you. The problem is I'm not a good enough occupier he it to be. Saskatchewan. Produces more hockey players per capita than any other place in the world to -- a -- paid attention the past couple weeks. But supposedly the number one hockey player in the world it turns out. He's not that Iraqi player you know he is that it is just that the other Canadian playing against -- is a better player. -- birdie is a better player than Sidney Crosby . When he doing and you look at the game of hockey -- get ready looks at the offensive side of hockey chemicals that yet now it's a two -- game you gotta be of the play defense Sidney Crosby can't play defense he sucks and the defense he's he's he's a wimp. And he doesn't play. That's an uncle Chris Chelios . Give me a belt made him but he running each. Is. Like rich rich this is embarrassing to to stop that knowing that Jack and Roenick now. Wage on the island -- got your -- -- these. Players I sound yet I've actually her -- The hall of famers I mean it the best like Bobby or he's from Canada and -- now he's from Saskatchewan. Wayne Gretzky he's from -- In isolating it like that's your national sport that you didn't see any baseball players made it in the -
Casey Ross, Boston Globe, on PriceWaterHouseCooper's
Casey Ross, Boston Globe, on PriceWaterHouseCooper's
right now are taking a look at the waterfront -- the new real estate option. Then moving to a different officers bank put you know they want to establish -- -- exciting new abandoned building and so. The seaports and interest and opportunity that drawing a lot of companies trying to. Why I think I like the financial district to that what's the big attraction of the seaport area you name it may be a mess it's. Poll. It's cheap and it's that's the main thing is that you know right up there looking around at look at okay -- and I moved to and another office building downtown and I stay put. You know that the currently rate or should I mean he moved to the seaport there's a -
Shawn Kravetz, Esplanade Capital
Shawn Kravetz, Esplanade Capital
been and then. We'd like to buy the whole company and then negotiated transaction . Do you own any shares in the company now. We do we heard the second largest outside shareholder. The family owns roughly 90%. Of this company. DE Shaw. Very very large hedge fund in New York City is the largest outside shareholder and we are number two. Why panel why they're why they hesitating to solitude they must feel that the shares are worth Maurizio I think I can conclude. Well. I don't wanna speak for them but I suspect you're right on the money. They had no idea that and they know there's a lot of value there. And I guess they're confident that someday they will get that we would like to help shareholders get that values sooner rather than later. Because. We thought the assets -- well. You made the statement that you feel the -
What's Up On Wall Street - Andy Cinko, Bloomberg News
What's Up On Wall Street - Andy Cinko, Bloomberg News
we asked a question of the day which had to do with Social Security And collect your Social Security for retirement age or are you going to collect literally. 73%. Of Americans collect their Social Security early in the vast majority of cases I think that's a mistake but people do it for any reasons. When I came up with June and I think is a good idea for us to talk about is you know we're sitting here and and and acting all high and mighty. As it relates to this discussion about Social Security in the back the matter is we have access to tremendous resources on this topic whether the courts are now ski. Who worked for the departments of security for 37 years or whether it's Chris Farrell was a reporter for Bloomberg we have access to a lot of data. What I would like to do is make this information on Social Security Tips to maximizing -- worst Social Security benefits I'd like to make it available to our listening. I think it's they I think it's important. You know people refer to it I think some 97 -- as areas of securities of Ponzi scheme this. I disagree with you respectfully -- disagree with you but you know -- more importantly. Please educate yourself on Social Security Call this phone number it's 508591. 5444. Asked for the guide about Social Security tell the I would pay -- wanna learn more about Social Security Barry seems to know a lot you know why I read a -- I studied this stuff every day it's what I do for a living. 5085915444. Is the number you should call. Call them. Tell -- you're listening to the financial exchange and you want to learn more about how he can maximize your benefits. Out of Social Security I think you'll be glad you made the call I know I was glad when I read the report on Social Security Maybe a more informed consumer. 5085915444. Up next Sean Kravitz he's the president of a hedge fund. That has been trying for
Automatically Generated Transcript (may not be 100% accurate)
Our guest is Bloomberg News legal reporter Phil Milford good morning Phil welcome to the show. Good Phil I I wanted to talk to about this post a story -- -- you've been trapped traveling -- which union specifically. Was it that his brought hostess to its knees. Also bakers union basically. It's non Muslim bakery confectionery tobacco workers and grain millers international. -- strike remember nine. And and how many union workers are losing their jobs as a result. Altogether including -- unions. About 181500. Workers. Now. Retain some of them in on the makers to help -- -- -- all in the existing camps. But not very mentally ultimately in -- roll music -- -- at about 3000. What was the company asking for -- the company wanted them to take a pay cut how much was the pay cut. And how much for these guys making before the potential pay cut. It's it's unclear how much the company want to trim I don't have a salary figures. That the Teamsters which -- -- and -- Game that they and they. They have -- the contract with a company. They gave back about 8% and wages. I agree to a 17%. Cut in benefits. And it's essentially I think went to bakers. Were gonna get to you from the company just couldn't -- They wouldn't do it they wouldn't do it so what what ends up happening to hostess I've read -- it could be private equity firms that by the company. I've I've read that it's gonna move to Mexico. And be purchased by bimbo or what what is the future for hostess were -- gonna get my twinkies. -- in court right now. It's possible to come all probably would be sold. The group. Home. Possibly some analysts like it is cold in parts. But it's -- to the judge to decide what to do. Four sale the company. They could sell brand since they could sell just between people at brands some. Baker. And they can make as exclusively to -- we just don't know right now having their first hearing this afternoon in court. In bankruptcy court in White Plains, New York. What are the prospects for the union workers and and all these old plants Kazaa it. From what I can gather they they they might get shut these things down altogether and hire nonunion workers. They have I understand shut animate three points. Probably what's gonna happen -- that but he can sell the plants individually. Or together. -- reopened. All the ones that are liable to supplier you know. And they might Carla people -- but you know whether they don't accept people were union members not to include her. People who. Who are hired. I'm not union members when they might have their chance this. We don't we know how the union feels about it because we didn't and reading the press releases and what they're saying how -- the actual workers feel -- have a sense as to what the worker's perspective this on this. You know the worker a mixed feelings. We've had people on the street at these different baker -- Distribution centers in the incident on the orders or Greece and it's going to stick with their union. Affiliation. Hollers. Thing I think that the company or the union itself should have done more to keep jobs. Especially on eve of Thanksgiving hazardous. Yes. You know it's very sad it's a sad story are well Phil thank you very much for your time appreciate it. -- Film know first he's a Bloomberg News legal reporter joining us today trying to give us an unbiased perspective on this storage and it continues to evolve. Yeah and you know what I just talking about twinkies not just talking about one particular thing we're talking about Wonder Bread -- they're talking about nature's pride and maybe we bought some of those products. And also -- Dolly Madison. And that name will be excellent products and yeah and things like I think Susie Q isn't and. Ding bong. I think the twinkie brand of south pars -- -- lose a little bit away. That's the other problem thinking with products likeness is that people are being more health conscious auto they are not mean he's not gonna. Well I don't know when you when you're out about do you think people are fatter or thinner than they were ten years ago. It depends depends -- great golf if you if you accrue some viewers. Yeah a little heavy there I'm on it got everybody and a large percentage of the population. It was the cruising populations who have been on the -- said yeah do you mean twinkie I must raise cupcake in its it's been -- while it'll apply just because you wanna be seen. As delightful by the shall bring in the house. Only the only way -- -- -- -- to BJ's yesterday about a bunch of stuff there pitching. Yeah I have to hide. -- If it's just to show -- Its cash to -- -- -- -- tell the kids and I'm hiding from two entities my wife and my children are at odds right that's just stupid you know put under the tools -- they won't go anywhere near there you know what it's looking. 68680. Is our text number if you have a question for if we actually have an open segment yours that we can take some text questions. 68680 is their text number if you have a question. My email address is -- Armstrong at wrko.com. You're listening to the financial extra.
