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The highlights and lowlights…….

By Carey Gillam

LENEXA, Kan (Reuters) – A standoff between Hostess Brands Inc. and thousands of its bakery workers was heading for a showdown Thursday as both sides declared they would not bend and were set to accept the demise of the historic maker of Twinkies and Wonder Bread.

The bankrupt company is on its last legs, according to management, and will ask a bankruptcy court on Friday for permission to liquidate unless workers at Hostess plants across the country return to work by 5 p.m. EST (2200 GMT) on Thursday.

Members of the Bakery, Confectionery, Tobacco Workers and Grain Millers International Union went on strike November 9 to protest 8 percent pay cuts and other health care and pension concessions sought by the company.

The bitter dispute pits the 82-year-old company against the Bakery, Confectionery, Tobacco Workers and Grain Millers International Union, whose members…

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