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Good bye, Twinkie – Hostess Brands liquidates

By tvgnus   Follow   Fri, 16 Nov 2012, 5:47am   4,594 views   63 comments
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http://www.centralvalleybusinesstimes.com/stories/001/?ID=22308

Hostess Brands Inc. of Irving, Texas, says it has filed for bankruptcy liquidation because workers, members of the Bakery, Confectionery, Tobacco Workers and Grain Millers Union, struck its plants, including one in Sacramento.

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1. woppa Follow Befriend (3) 2 threads 179 comments Bronx, NY

   1   8:10am Fri 16 Nov 2012   Share   Quote   Permalink   Like (5)   Dislike   I think it's sad that the twinkie is an American icon in the first place. Good riddens to that trash.

2. thunderlips11 Follow Befriend (13) 61 threads 2,708 comments Premium

   2   8:29am Fri 16 Nov 2012   Share   Quote   Permalink   Like (6)   Dislike (1)   Protected   Hostess declared bankruptcy previously in 2004. The Union took two pay cuts (not delayed wage increases, not frozen wages, but big thick pay cuts), was asked to take a third, and told their pension hadn't been contributed to in years and was going to default. Bad Management/Changing Times.

3. Quigley Follow Befriend (6) 17 threads 576 comments Huntington Beach, CA

   3   8:34am Fri 16 Nov 2012   Share   Quote   Permalink   Like (4)   Dislike (1)   FortWayne, you should do better research. The strike was the excuse, not the cause. Hostess has been struggling for years because people are becoming more health educated, and their products are patently unhealthy. It had plenty of opportunities to make positive changes but decided instead to stick with their original products and damn the consequences. Also there are knock-off products that compete for the dollars of the poor and the obese. In the end, they were inflexible, made a bad product, and deserve to crumble.

4. CaptainShuddup Follow Befriend (1) 304 threads 5,307 comments

   4   11:59am Fri 16 Nov 2012   Share   Quote   Permalink   Like (3)   Dislike   ?w=270&h=203 The Vicims... All Hostess Brands employees will lose their jobs in the coming weeks, some sooner than others, the company announced Friday. The layoffs span nationwide, and represent a deep cut in mid-wage jobs that often came with benefits. The company had operated 33 bakeries, 565 distribution centers and 570 outlet stores across the country. Many production workers earned up to $20 an hour, plus had access to medical benefits, according to Michael O'Brien, a former Hostess employee who had worked at the company for 45 years, in various sales functions, before he was offered a buyout last year. "People inside the plants really made a good living," O'Brien said. "I feel sorry for them." That's $20 an hour to wheel baker's trays of Twinkies around a plant, and take smoke breaks while the Ho Hos are in the oven. I wonder what books the guy that pushes the Green button in the morning then the Red button at quitting time, read in between?

5. Dan8267 Follow Befriend (17) 785 threads 7,972 comments Boca Raton, FL Premium

   5   1:31am Mon 19 Nov 2012   Share   Quote   Permalink   Like (3)   Dislike   Protected   I felt a great disturbance in the force as if millions of fat asses cried out in despair and were suddenly silenced.

6. CaptainShuddup Follow Befriend (1) 304 threads 5,307 comments

   6   7:26am Fri 16 Nov 2012   Share   Quote   Permalink   Like (3)   Dislike (1)   "To the Union Hall" "Yeah" "But what will we do once we get there?" "To the Union Hall!" "Yeah!" Although I never cared for Hostess products, they just taste overly processed. It's always a sad day when an Americana Icon goes under for all the wrong reasons.

7. Call it Crazy Follow Befriend 250 threads 2,915 comments

   7   7:40am Fri 16 Nov 2012   Share   Quote   Permalink   Like (2)   Dislike   CaptainShuddup says Although I never cared for Hostess products, they just taste overly processed. It's always a sad day when an Americana Icon goes under for all the wrong reasons. Better run and stock up on Twinkies TODAY!!! I hear they have like a 30 year shelf life........

8. dodgerfanjohn Follow Befriend 19 threads 651 comments Los Angeles, CA

   8   7:44am Fri 16 Nov 2012   Share   Quote   Permalink   Like (2)   Dislike   Real life consequences.

9. FortWayne Follow Befriend (13) 107 threads 3,865 comments

   9   8:25am Fri 16 Nov 2012   Share   Quote   Permalink   Like (2)   Dislike   CaptainShuddup says "To the Union Hall" "Yeah" "But what will we do once we get there?" "To the Union Hall!" "Yeah!" Although I never cared for Hostess products, they just taste overly processed. It's always a sad day when an Americana Icon goes under for all the wrong reasons. Sadly for all the "American" reasons. Unions are really driving this nation down.

10. CaptainShuddup Follow Befriend (1) 304 threads 5,307 comments

    10   8:41am Fri 16 Nov 2012   Share   Quote   Permalink   Like (2)   Dislike   edvard2 says Ah yes.... typical right wing fodder: blame it all on the unions. Can't blame anyone in the unemployment line, so it doesn't really matter now does it? edvard2 says I reckon one could always stockpile a bunch of these if you liked em enough since they last forever. I bet if you buy one, and put it in a vault. Rick Harrison on Pawn Stars will pay top dollar for it 50 years. If Chumley doesn't eat it first.

11. zzyzzx Follow Befriend (9) 436 threads 4,261 comments Baltimore, MD

    11   11:16am Fri 16 Nov 2012   Share   Quote   Permalink   Like (2)   Dislike   Would be better if we knew exactly the deal the the union thugs turned down.

12. rooemoore Follow Befriend 41 threads 919 comments Larkspur, CA

    12   12:55pm Fri 16 Nov 2012   Share   Quote   Permalink   Like (3)   Dislike (1)   Yes, the real problem in this country is that junk food is too expensive. We need to keep wages low so that we can make cheap junk food that low wage earners can afford.

13. zzyzzx Follow Befriend (9) 436 threads 4,261 comments Baltimore, MD

    13   4:14pm Sat 17 Nov 2012   Share   Quote   Permalink   Like (2)   Dislike   rooemoore says But don't you think that maybe the discussion should be how can we get wages to go up? Yeah, we need massive import duties, which I am in favor of.

14. zzyzzx Follow Befriend (9) 436 threads 4,261 comments Baltimore, MD

    14   4:14pm Sat 17 Nov 2012   Share   Quote   Permalink   Like (2)   Dislike   elliemae says Hostess needed to change with the times and chose not to. Had they attempted to offer healthier fare, change their recipes to at least giving the appearance of health I'm not inclined to think that overpriced organic twinkees would have sold either.

15. lostand confused Follow Befriend (9) 184 threads 1,668 comments Premium

    15   8:23am Fri 16 Nov 2012   Share   Quote   Permalink   Like (1)   Dislike   Protected   Maybe some other companies will come in and buy them in bits and pieces, while jettisoning the debt?

16. edvard2 Follow Befriend 38 threads 2,313 comments

    16   8:34am Fri 16 Nov 2012   Share   Quote   Permalink   Like (4)   Dislike (3)   Ah yes.... typical right wing fodder: blame it all on the unions. But anyway, I reckon one could always stockpile a bunch of these if you liked em enough since they last forever.

17. CaptainShuddup Follow Befriend (1) 304 threads 5,307 comments

    17   8:50am Fri 16 Nov 2012   Share   Quote   Permalink   Like (1)   Dislike   The Victim? Who the employees that lost their job, because the company went under. There aren't any Victims when you're laid off. For what ever the reason. Well I suppose there are, if you are incapable of staying relevant.

18. SFace Follow Befriend (2) 61 threads 1,336 comments Premium

    18   9:31am Fri 16 Nov 2012   Share   Quote   Permalink   Like (1)   Dislike   Protected   edvard2 says Ah yes.... typical right wing fodder: blame it all on the unions. But anyway, I reckon one could always stockpile a bunch of these if you liked em enough since they last forever Puttin my M&A cap on. There was going to be no buyer of Hostess, you buy the brand. not the plant and contracts. If the brand was worth 100M, the liability was (200M) and long term. I suspect some bakery or snack company may buy the brand in liquidation. There will be interest in that, tuck it away and unleash Twinkies and Snowball again. Personally, I would miss Wonder Bread (white fiber for kids, kids don't eat wheat breads) as it is really good for the kids. Business environment is changing a little, my own buying habit is trader Joe's and their unknown brand snacks. Snacks are a Huge and steadily growing business.

19. woppa Follow Befriend (3) 2 threads 179 comments Bronx, NY

    19   9:41am Fri 16 Nov 2012   Share   Quote   Permalink   Like (2)   Dislike (1)   Wonder bread is good for the kids? It is basically empty calories and has a 2-1 sodium to calorie ratio, where you should be eating things that contain a 1-1 ratio. Whole wheat bread is the only bread that is even close to nutritional, but still only good in very small amounts.

20. SFace Follow Befriend (2) 61 threads 1,336 comments Premium

    20   10:05am Fri 16 Nov 2012   Share   Quote   Permalink   Like (1)   Dislike   Protected   woppa says Wonder bread is good for the kids? You're right but If you can get kids to eat wonder bread for kids (with vegis and milk), I am satisified, lol. White Bread taste better than Grain. He (they 5, and 2 1/2) eats it straight up, no jam, jelly, spread or meat..