Thursday, February 5, 2009
Chuck saves cupcake factory
Schumer Sweetens Deal For Cake Company
By: NY1 News
Senator Chuck Schumer brokered a deal Wednesday to keep Drakes cakes on the shelves, saving hundreds of city jobs in the process.
The International Bakeries Corporation, which makes Drakes Coffee Cakes and Hostess Cupcakes, has been in Chapter 11 bankruptcy since 2004.
Now, thanks to a deal between IBC and General Electric, the bakery can come out of bankruptcy.
Their Jamaica, Queens factory employs about 300 New Yorkers.
Another 200 people work at other facilities around the city and Long Island.
Yay, Chuck. Now can you do the same for our hospitals?