Collective Bargaining

Interstate Bakeries Scheduled to Emerge from Bankruptcy

Mon. January 12, 2009

Interstate Bakeries Corporation after four plus years in bankruptcy is prepared to emerge from Chapter 11 in the next few weeks. In a story in the Kansas City Star Chief Executive Officer Craig Jung stated, "after a challenging four-year restructuring we are extremely pleased that we are in a position to be able to emerge from chapter 11 as a stand alone company". The IAM, which represents Truck Technicians and Building Engineers, negotiated a National Agreement with IBC in March of 2008 that contained substantial wage increases and some pay for skill provisions. IBC is expected to emerge from bankruptcy in the latter part of January 2009.

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