Twinkie-pocalypse averted? Hostess and bakers union agree to mediation

CNBC is reporting that Hostess and the BCTGM have agreed to mediation, thereby avoiding a shutdown — for now.

More from the AP:

Hostess Brands Inc. and its second largest union will go into mediation to try and resolve their differences, meaning the Irving, Texas-based company won’t go out of business just yet. The news came Monday after Hostess moved to liquidate and sell off its assets in bankruptcy court citing a crippling strike last week.

The bankruptcy judge hearing the case says that the parties haven’t gone through the critical step of mediation and asked the lawyer for the bakery’s union to ask his client, who wasn’t present, if he would agree to participate.

The news has snack cake lovers rejoicing:

Snort. If only.

Some people, though, are speculating that the entire thing was a slick marketing ploy by Hostess to boost sales:

One thing’s for sure: Hostess now finds itself in the envious position of being on the tip of everyone’s tongue. We hope that negotiations will indeed pan out for the sake of the Twinkie — and for the sake of the 18,000-plus employees whose livelihoods are on the line.

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