SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : Speculating in Takeover Targets -- Ignore unavailable to you. Want to Upgrade?


To: richardred who wrote (799)7/6/2005 1:23:35 PM
From: richardred  Respond to of 7254
 
Update on Interstate!

Daily bread running out
Longtime bakery workers struggle with looming closures

Pia Sarkar, Chronicle Staff Writer

Tuesday, July 5, 2005


The 75-year-old Wonder Bread and Hostess Bakery in San Francisco's Potrero Hill neighborhood sits off of Bryant Street amid the roar of freeway traffic overhead. Every week, the 175,000-square-foot plant produces 437,500 loaves of bread, 155,000 boxes of doughnuts and 120,000 boxes of Ho-Ho snack cakes.

Gusts of wind carry a strong aroma from the bakery, mixing the scents of morning toast with diesel fuel escaping from idling delivery trucks. The bakery's silos are painted with the familiar red, blue and yellow dots on Wonder Bread packages.

Soon these sights and smells will be a thing of the past. Interstate Bakeries of Kansas City, Mo., which owns the Wonder Bread and Hostess Bakery, along with the Parisian Bakery in the Bayview neighborhood, has decided to shut both plants as part of its efforts to reorganize after filing for bankruptcy in September.

The company has already shuttered bakeries in Miami; New Bedford, Mass.; Florence, S.C.; and Charlotte, N.C. San Francisco alone will lose 650 jobs when the two bakeries close in August. Most recently, Interstate Bakeries announced plans to consolidate its Southern California sales operations and cut an additional 350 jobs. All told, it will eliminate 3,900 jobs nationwide.

"These are efforts to right the ship," said Jason Booth, a spokesman for Interstate Bakeries, which still operates 47 bakeries throughout the country. "Hopefully, it will protect jobs in the future."

Steve Anderson, a forklift operator for the Wonder Bread and Hostess Bakery, never thought he would have to look for a job again. But now, he has no choice. "I'm very disappointed," said Anderson, 49, who has worked at the bakery for almost 21 years. "I expected to retire from here."

The closure of both bakeries marks a steady decline of blue-collar jobs in San Francisco. Of the city's 950,000 jobs, less than 15 percent -- or about 129,000 workers -- are in industrial sectors, according to Jesse Blout, director of economic and workforce development for Mayor Gavin Newsom.

Blout said that although Interstate's decision to shut down its San Francisco facilities is more indicative of the company's health than anything else, it will still have a lasting impact on the city.

"San Francisco has seen a significant net loss of blue-collar jobs," he said.

Workers in Potrero Hill and Bayview started worrying about their jobs when Interstate Bakeries filed for bankruptcy and cited declining sales, excess industry capacity, and rising employee health care and pension costs as reasons.

"I understand why they're shutting the plant down," Anderson said. "I don't like it, but I understand it."

Elvis Asuncion, 37, perched on the edge of a curb along the Potrero Hill bakery's parking lot one recent afternoon, puffing on a cigarette. "My union is going to help me look for a job," said Asuncion, a stationary engineer at Wonder Bread for the past five years.

Some of his co-workers, however, are not so fortunate. "I see people who are upset, frustrated," Asuncion said. "These are the people who in a year were going to retire. This screws up their retirement. It's hard to get a job when you're just bakers."

Lourdes Atengco, 56, falls in the upset-and-frustrated category. She has worked at the bakery for 23 years, operating machines that lift Ho-Ho snack cakes and load them into boxes.

"I just had 1 1/2 more years to go" before retiring, Atengco said.

All her years of work earned her five weeks of vacation and a wage rate of almost $20 an hour. Atengco said if she looked for another job at a bakery, her wages would fall to a starting rate of $8.50 an hour. She would also see her vacation time slashed.

"I was excited about my retirement, but now I have to start all over again," said Atengco, who said she woke up at 3 a.m. with nightmares after she first heard the news of the layoffs. "After working so long, of course you're excited about retirement. Why didn't they wait two more years before shutting down?"

Atengco's husband works for Wonder Bread, and he also will lose his job when the bakery closes on Aug. 19. "One of us must work because of the medical insurance," she said.

Beyond her financial situation, though, Atengco also feels a tug of nostalgia for the job she has held for more than two decades. "This is my second home," she said. "I feel so comfortable with what I've been doing for 23 years."

The Parisian Bakery on Evans Avenue will shut down after 51 years. It is the only facility in the country that produces Parisian brand products.

The 35,000-square-foot building is painted in the colors of the French flag. An adjoining bakery outlet store sells a feast of junk food: Crumb Donettes, Suzy Qs, Zingers, fruit pies, Snowballs, Twinkies and Hostess Cupcakes. The bakery produces 217,460 loaves of bread and 71,540 rolls each week.

Alonso Garcia, 36, is a loading supervisor for Parisian Bakery, where he has worked for 11 years. He takes a philosophical approach to his impending job loss.

"We're just going to have to look for another job," said Garcia, who supports a family of two children. "There comes a point where there's nothing you can do. This is not the end of the world. There should be other jobs. It's just a matter of looking."

Anderson, the forklift operator at the Wonder Bread and Hostess Bakery, worries about his prospects, especially given the fact that he'll be among 650 unemployed bakery workers who will be looking for jobs at the same time. He also acknowledges that his interview skills have gotten a little rusty.

"It's been over 20 years since I looked for a job," Anderson said. "When I started this job, I was younger and in better shape. You always hear they don't like to hire older people, but I haven't dealt with it yet."

Anderson has not yet begun to look for another job. "I don't have plans for the future," he said. "I'm just going to work here until they kick me out on the last day."

E-mail Pia Sarkar at psarkar@sfchronicle.com.
sfgate.com



To: richardred who wrote (799)7/8/2005 4:05:31 PM
From: Jack Hartmann  Read Replies (1) | Respond to of 7254
 
I don't think GOAM offers the big companies anything to buy them out.



To: richardred who wrote (799)3/2/2006 11:00:45 AM
From: richardred  Respond to of 7254
 
GoAmerica Provides Merger Update
Thursday March 2, 7:30 am ET

HACKENSACK, N.J., March 2 /PRNewswire-FirstCall/ -- GoAmerica, Inc. (Nasdaq: GOAM - News) today announced it received a letter from Hands On, dated March 1, 2006, in which Hands On purportedly terminates the merger agreement among the parties. GoAmerica's Board of Directors is considering its alternatives in response to this letter.
a

GoAmerica provides a wide range of wireless, relay and prepaid communications services, customized for people who are deaf, hard-of-hearing or speech impaired. The Company's vision is to improve the quality of life of its customers by being their premier provider of innovative communication services. For more information on the Company or its services, visit goamerica.com or contact GoAmerica directly at TTY 201-527-1520, voice 201-996-1717 or via Internet relay by visiting i711.com .

Safe Harbor

The statements contained in this news release that are not based on historical fact are "forward-looking statements" that are made in reliance upon the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of forward-looking terminology such as "may", "will", "expect", "estimate", "anticipate", "continue", or similar terms, variations of such terms or the negative of those terms. Such forward-looking statements involve risks and uncertainties, including, but not limited to those of GoAmerica including: (i) our limited operating history; (ii) our ability to successfully manage our strategic alliance with EarthLink; (iii) our dependence on EarthLink to provide billing, customer and technical support to certain of our subscribers; (iv) our ability to respond to the rapid technological change of the wireless data industry and offer new services; (v) our dependence on wireless carrier networks; (vi) our ability to respond to increased competition in the wireless data industry; (vii) our ability to integrate acquired businesses and technologies, including Hands On (if the merger is closed); (viii) our ability to generate revenue growth;(ix) our ability to increase or maintain gross margins, profitability, liquidity and capital resources; and (x) difficulties inherent in predicting the outcome of regulatory processes. Such risks and others are more fully described in the Risk Factors set forth in our filings with the Securities and Exchange Commission. Our actual results could differ materially from the results expressed in, or implied by, such forward-looking statements. GoAmerica is not obligated to update and does not undertake to update any of its forward looking statements made in this press release. Each reference in this news release to "GoAmerica", the "Company" or "We", or any variation thereof, is a reference to GoAmerica, Inc. and its subsidiaries. "GoAmerica" is a registered trademark of GoAmerica. "i711", "i711.com", and "Clear Mobile" are trademarks, and "Relay and Beyond" is a service mark of GoAmerica. Other names may be trademarks of their respective owners.

Additional Information

On July 6, 2005, GoAmerica entered into a merger agreement with Hands On Video Relay Services and related parties, as amended on October 28, 2005.

GoAmerica, Inc. filed a Registration Statement on SEC Form S-4 in connection with the merger with Hands On and the parties have mailed a joint proxy statement/prospectus to their stockholders containing information about the merger. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT AND THE JOINT PROXY STATEMENT/PROSPECTUS CAREFULLY. THE REGISTRATION STATEMENT AND THE JOINT PROXY STATEMENT/PROSPECTUS CONTAIN IMPORTANT INFORMATION ABOUT GOAMERICA, HANDS ON, THE MERGER AND RELATED MATTERS. Investors and security holders can obtain free copies of these documents through the web site maintained by the U.S. Securities and Exchange Commission at http//www.sec.gov. In addition to the Registration Statement and the joint proxy statement/prospectus, GoAmerica files annual, quarterly and special reports, proxy statements and other information with the Securities and Exchange Commission. You may read and copy any reports, statements and other information filed by GoAmerica at the SEC public reference facilities at 100 F Street, N.E., Washington, D.C. 20549. Please call the SEC at 1-800-SEC-0330 for further information on public reference facilities. GoAmerica's filings with the SEC also are available to the public at the web site maintained by the SEC at http//www.sec.gov. Hands On, its directors, executive officers and certain members of management and employees may be soliciting proxies from Hands On's stockholders in favor of the adoption of the merger and the merger agreement. GoAmerica, its directors, executive officers, and certain members of management and employees may be soliciting proxies from GoAmerica's stockholders to authorize the issuance of the shares of GoAmerica common stock issuable pursuant to the merger agreement. A description of any interests that Hands On's directors and executive officers, or that GoAmerica's directors and executive officers, have in the merger is available in the joint proxy statement/prospectus. This press release does not constitute an offer of any securities for sale.

Filed by GoAmerica, Inc.
Pursuant to Rule 425 under the
Securities Act of 1933 and deemed filed pursuant to Rule 14a-12 of the
Securities Exchange Act of 1934

Subject Company: GoAmerica, Inc.
Commission File No.: 0-29359

Source: GoAmerica, Inc.
biz.yahoo.com