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Good bye, Twinkie – Hostess Brands liquidates


By tvgnus   Follow   Fri, 16 Nov 2012, 5:47am   4,920 views   59 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


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    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


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    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


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    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


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    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


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    5   1:31am Mon 19 Nov 2012   Share   Quote   Permalink   Like (3)   Dislike  

    I felt a great disturbance in the force as if millions of fat asses cried out in despair and were suddenly silenced.

  6. CaptainShuddup


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    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


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    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


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

    Real life consequences.

  9. FortWayne


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    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


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    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


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    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


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    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


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    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


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    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


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    15   8:23am Fri 16 Nov 2012   Share   Quote   Permalink   Like (1)   Dislike  

    Maybe some other companies will come in and buy them in bits and pieces, while jettisoning the debt?

  16. edvard2


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    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


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    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. woppa


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    18   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.

  19. zzyzzx


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    19   10:26am Fri 16 Nov 2012   Share   Quote   Permalink   Like (1)   Dislike  

    thunderlips11 says

    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

    They were still making bloated union wages even with that third pay cut.

  20. taxee


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    20   10:33am Fri 16 Nov 2012   Share   Quote   Permalink   Like (2)   Dislike (1)  

    Think this through. Low, low taxes on huge executive salaries means you get type A people running businesses INTO the ground to get rich quick. I watched it happen were I worked. World class 70 year old company looted while being run by incompetent 'investors' and then bankrupted in less than 5 years. The top few guys walked away rich.

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