The International Brotherhood of Teamsters, one of the largest labour unions in the US, representing 1.4 million people, has announced a plan with Yucaipa Companies and Bimbo Bakeries USA (BBU) to purchase Interstate Bakeries, helping to save more than 9,500 jobs at the bankrupt firm.In a statement, the Union announced that the partnership brought together the financing of Yucaipa and its expertise in working with unionised companies, the baking experience of Bimbo Bakeries, and the Teamsters Union as the key component of the distribution system.”A key ingredient of our plan will be a commitment from Yucaipa Companies, and Bimbo Bakeries to value the sacrifices of our members and position the company for long-term growth,” said Jim Hoffa, Teamsters general president.Founded in the 1940s, Texas-based Bimbo Bakeries USA produces and distributes bread, cakes and cookies. One of the largest bakery companies in the world, it also said last week it was considering raising bread prices in the last quarter of the year to offset the soaring cost of wheat. It already raised prices by about 3% in August but said its cost of production was rising as wheat prices touched record levels.Yucaipa Companies is an investment management firm that has a reputation for growing and developing businesses, working to preserve union jobs. Earlier this year, the Teamsters endorsed a Yucaipa plan to finance another Teamster employer, Allied Holdings, a distribution and logistics service, which was also experiencing financial difficulties.
By Jon Zimney – June 7, 2020 0 439 Previous articleFood Bank of Northern Indiana mobile food distribution for the week aheadNext articleMembers of Indiana Black Legislative Caucus want choke holds banned Jon ZimneyJon Zimney is the News and Programming Director for News/Talk 95.3 Michiana’s News Channel and host of the Fries With That podcast. Follow him on Twitter @jzimney. Google+ Goshen man on motorcycle seriously hurt in crash Google+ Twitter (95.3 MNC) A 32-year-old Goshen man on a motorcycle suffered serious injuries when struck a pick-up truck that police say turned into his path.The collision happened around 9:40 p.m. on Saturday, June 6, on County Road 40 east of U.S. 33.The motorcyclist was taken to Elkhart General by Goshen Medics with injuries to right shoulder, a large cut to his forehead and pain to both arms.The 73-year-old man driving the pick-up truck was cited for failing to yield. Pinterest WhatsApp Facebook Twitter WhatsApp Facebook Pinterest IndianaLocalNews
JAY – With the town intending to apply for Community Development Block Grant funds next year, businesses interested in benefiting from the program should contact the town office.Jay anticipates filing an application in 2019 with Maine’s CDBG Micro-Enterprise Assistance Grant Program. Up to $150,000 could be available for town businesses through the program, either in the form of grants to create employment opportunities for businesses or for facade improvements. The grant process is competitive, with approximately $700,000 of funds being doled out to $2 million-worth of requests.Jaaron Shaw, the owner of Maine Dojo, previously approached the town about applying through the CDBG program.Currently, town officials anticipate having the Board of Selectpersons review a Letter of Intent for qualifying projects in January. The application is due on Feb. 8.Funds can be used in two ways. The first is to assist small businesses with five or fewer employees, one of whom owns the enterprise. The owner’s income must be low-to-moderate. Alternatively, the business owner must create one full-time equivalent job (based on a $30,000 grant) or two full-time equivalent jobs (based on a $50,000 grant), which must be taken by low-to-moderate income individuals and maintained for a minimum of one year. Businesses applying for these funds must have a business plan not older than 18 months and must have met with a Small Business Development Center business counselor in the 3 months prior to applying for assistance.The second way businesses can access the program is for facade grants. To qualify for facade funds, the business must submit documentation showing that it qualifies as a spot slum/blight area. Estimated cost for funds under this program must be provided by an engineer or architect.Anyone interested in obtaining more information on this program can contact Town Manager Shiloh LaFreniere at 340 Main Street by phone at 897-6785 or by email at [email protected] information on the CDBG program can be found at: https://www.maine.gov/decd/meocd/cdbg/index.shtml.