News Summary: Hostess to mediate with union

Associated Press

LET'S TALK TWINKIES: Hostess Brands Inc. and its second largest union agreed Monday to mediation, meaning the company won't go out of business just yet.

HOPE FOR HO HO'S: The maker of Twinkies, Ding Dongs and Ho Ho's said it doesn't have much wiggle room and that an agreement will be needed by Tuesday night. CEO Greg Rayburn noted it's costing Hostess $1 million a day in payroll costs alone.

SWEET SUCCESS? Members of the Bakery, Confectionary, Tobacco Workers and Grain Millers International Union weren't present at the meeting. Their lawyer wouldn't predict how the talks might go.

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