Well, That Didn't Last Long --- Twinkies Mediation -- Less Than A Day

Updates

November 22, 2012: will liquidate.  At $35,000/year, some employees said they would rather relax at home and collect unemployment benefits; not sure if they are still eligible for health care insurance provided by the company; ObamaCare coming

Original Post

After the bankruptcy judge said the unions and the company had not tried hard enough, the company agreed to mediation, but said, with the company losing $1 million/day, the mediation would not last longer than 24 hours.

And it didn't. 

The same bankruptcy judge presided over mediation efforts.

It would have been fun to be a fly on the wall.

Judge: "So, where do we stand?"

Company: "We're losing $1 million/day on payroll for employees who are on strike."

Union: "I don't think the company is trying hard enough."

Judge: "Break for lunch? The 'court' will reconvene at 2:00 p.m."

Later:

Judge: "So, where do we stand?"

Company: "We're still losing $1 million/day on payroll for employees who are on strike."

Union: "I don't think the company is trying hard enough."

Judge: "It appears mediation efforts have failed. Any last words?"

Company: "No."

Union: "No."

The company will now ask (again) to liquidate. Plenty of buyers out there. Will take about a year to close down / sell operations, some say.