Cookie Factory, Forced to Reinstate Workers, Shuts Down
Brynwood Partners is a "turnaround investor," which means it makes its money wringing the last bits of juice out of distressed companies. That was no doubt what they were up to when the took over the Stella D'Oro factory in the Bronx and proposed last year to cut workers' wages and benefits, which prompted their walkout and Brynwood's replacement of said workers with scabs. The National Labor Relations Board ruled last week that Brynwood had to let the Stella D'Oro workers back in. Brynwood has responded by closing down the factory. They propose to continue operations elsewhere, presumably someplace where workers are paid with tickets to the company store. Well, as Brynwood's managing director told the Wall Street Journal, " You do need someone to come in and be a bad guy."
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