msnbc | November 17, 2012
>>> our three big money headlines. looking to liquidate, black friday backlash and looking to overdrive. welcome back. let's talk about the hostess brands which says striking workers have forced them to shut down yesterday. they're now seeking bankruptcy protection . what's going to happen to things like twinkie and ding dongs and wonder bread?
>> that remains to be seen. as the old joke goes, twinkies may have been able to weather doomsday but they're not able to weather labor strikes as we've seen this week. 18,500. that is the take away number here. that is the number of jobs that the company is looking to shed as early as tuesday if bankruptcy court will allow it. the company has been saddled with debt. it filed bankruptcy earlier this year, second time in a decade. it hasn't been doing so well. this labor strike apparently was the last nail in the financial coffin. we're going to see this company probably liquidate and try to sell assets. whether the brands will make it back onto store shelves i'm not so sure. in the meantime you might want to run out and stock up. that's what americans are doing.
>> they are making a run. our floor director is looking at a monitor. there's like $75 for a box of ten right now. let's talk about another labor dispute in an iconic company, walmart. the workers are planning to walk out on black friday. but walmart is taking legal action saying can't do it because that's going unlawfully disrupt business. can they do that?
>> they have lodged a complaint as of thursday with the national labor relations board . they have a right to do this just the way the walmart workers have a right to do the same thing on their end. they have lojd about 20 complaints over the last two months on things like retaliation against union organization and unsafe working conditions. so there's two sides to this story. we're seeing about 1,000 protests expected to break out for black friday. whether these protests will happen remains on whether the nlrb actually comes out what decision before black friday. in the meantime if you're a walmart shopper i would expect long shopping lines. i'd also expect some protesters.
>> okay. what about there is some good news to talk about because chrysler is planning to ad 1200 auto workers in michigan. do you think this indicates we've got an improving economy out there?
>> i think it's very hopeful. i think there's two reasons to be a little bit excited about this. the first is chrysler as we remember a couple of years ago was one of the american auto companies to be bailed out. the company's been doing well. they've seen a major up tick in demand this year. the fact they're expanding i think indicates they are not just scraping by anymore but actually starting to flourish. i think the other interesting thing here we are seeing this expansion in ram, specifically in pickup trucks . demand for pickup trucks is up for the company about 20% year-over-year. this is actually also very closely tied to home constructions which we've seen up in the past four years. i think this is good for both retail and housing.