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| Re: Stella D'oro's Bronx, NY factory to close following dispute with union (470967) | |||
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Re: Stella D'oro's Bronx, NY factory to close following dispute with union |
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Posted by Stephen Bauman on Mon Jul 6 23:48:37 2009, in response to Stella D'oro's Bronx, NY factory to close following dispute with union, posted by trainsarefun on Mon Jul 6 18:21:37 2009. The decision to close Stella D’oro’s only factory, which is based in the Kingsbridge section of the Bronx, was made by Brynwood Partners, the private equity company based in Greenwich, Conn., which bought the company in 2006.Kraft obtained the brand in 1992 and trashed it. Despite the name, their clientele were Jews because their products were pareve. Kraft thought they could save some bucks by using milk chocolate. Sales plummeted and never recovered even after the old recipe was restored. Kraft had to sell it to a private equity firm that knew even less about the business than them. This is more a case of incompetent management than selfish union workers. However, the former are given a free pass by the media and tax breaks by the government. |
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