June 27, 2008: Interstate Bakeries Corp. must file a new reorganization plan by Monday and get support from its unions or provide a liquidation strategy to its lenders.
The stipulations are laid out in the bankrupt company's most recent financing package provided by a group of lenders. Kansas City-based IBC filed for protection from creditors in September 2004 amid rising costs and declining sales.
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Teamsters, Amazon delivery drivers, and labor allies picketed today on the steps of New York City Hall to support the Delivery Protection Act. City Councilmember Tiffany Cabán announced the bill now has supermajority support in the City Council.
The IBT has launched the Teamster History Project, which includes 27 unedited interviews with Teamsters who made it happen. It covers the years 1975-1999. Those interviewed include several TDU leaders, participants in the Carey administration, James Hoffa, along with two Hoffa lieutenants who were expelled from the union for corruption and self-dealing.
