Hostess Brands and its second-largest have agreed to a day of mediation to see if they can end a strike by bakers and prevent the company from shutting down. The parties will meet Tuesday with a bankruptcy judge. He announced on Monday that he wasn't ready to approve a liquidation.
This year American consumers are expected to take advantage of retailers' holiday promotions and spend big on gifts for themselves. Fifty-nine percent of shoppers polled plan to "self-gift" — the highest number in a retail industry survey's 10-year history.
Debate over the so-called fiscal cliff has dominated the post-election agenda. But the challenge of dealing with long-term debt and the annual deficit has been brewing for years. And one man who has kept his focus and money on that target is the billionaire Peter G. Peterson.
According to a bankruptcy judge, Hostess and the major union representing its workers need to try to mediate their differences before the company can be liquidated. So maybe the company's taste treats won't disappear anytime soon.
The line between Black Friday and Thanksgiving gets blurrier every year. This year, employees and consumers are circulating petitions protesting retailers' plans to open on Thanksgiving. Journalist Lewis Turner says he's worked on eight of the last ten turkey days, and it's not all bad.
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