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Good bye, Twinkie – Hostess Brands liquidates

By tvgnus   Follow   Fri, 16 Nov 2012, 5:47am   4,544 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. CaptainShuddup Follow Befriend (1) 247 threads 4,704 comments

   1   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.

2. Call it Crazy Follow Befriend 229 threads 2,772 comments

   2   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........

3. dodgerfanjohn Follow Befriend 19 threads 589 comments Los Angeles, CA

   3   7:44am Fri 16 Nov 2012   Share   Quote   Permalink   Like (2)   Dislike   Real life consequences.

4. lisalisa Follow Befriend 1 threads 79 comments New Lenox, IL

   4   7:46am Fri 16 Nov 2012   Share   Quote   Permalink   Like   Dislike (1)   Maybe purina will take them back.

5. woppa Follow Befriend (3) 2 threads 178 comments Bronx, NY

   5   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.

6. lostand confused Follow Befriend (9) 161 threads 1,543 comments Premium

   6   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?

7. FortWayne Follow Befriend (13) 102 threads 3,763 comments

   7   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.

8. thunderlips11 Follow Befriend (13) 51 threads 2,632 comments Premium

   8   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.

9. edvard2 Follow Befriend 34 threads 2,106 comments

   9   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.

10. Quigley Follow Befriend (6) 17 threads 520 comments Huntington Beach, CA

    10   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.

11. CaptainShuddup Follow Befriend (1) 247 threads 4,704 comments

    11   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.

12. coriacci1 Follow Befriend (1) 65 threads 268 comments

    12   8:48am Fri 16 Nov 2012   Share   Quote   Permalink   Like (1)   Dislike (1)   CaptainShuddup says Can't blame anyone in the unemployment line, so it doesn't really matter now does it? blame the victim? ( in this case the workers) always matters!

13. CaptainShuddup Follow Befriend (1) 247 threads 4,704 comments

    13   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.

14. SFace Follow Befriend (2) 61 threads 1,301 comments Premium

    14   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.

15. woppa Follow Befriend (3) 2 threads 178 comments Bronx, NY

    15   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.

16. SFace Follow Befriend (2) 61 threads 1,301 comments Premium

    16   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..

17. taxee Follow Befriend 88 threads 457 comments El Cerrito, CA Premium

    17   10:25am Fri 16 Nov 2012   Share   Quote   Permalink   Like   Dislike (1)   Protected   Ho Hos? Sounds like something soon to be made in China and contaminated.

18. zzyzzx Follow Befriend (9) 414 threads 4,124 comments Baltimore, MD

    18   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.

19. taxee Follow Befriend 88 threads 457 comments El Cerrito, CA Premium

    19   10:33am Fri 16 Nov 2012   Share   Quote   Permalink   Like (2)   Dislike (1)   Protected   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.

20. zzyzzx Follow Befriend (9) 414 threads 4,124 comments Baltimore, MD

    20   10:37am Fri 16 Nov 2012   Share   Quote   Permalink   Like (1)   Dislike   Union Thugs blame Romney!!! http://www.politico.com/news/stories/1112/83979.html Apparently union thugs worse at math and economics than I thought.

21. zzyzzx Follow Befriend (9) 414 threads 4,124 comments Baltimore, MD

    21   10:39am Fri 16 Nov 2012   Share   Quote   Permalink   Like (1)   Dislike   Hopefully someone will buy the plant equipment and move it to a right to work state.

22. joshuatrio Follow Befriend 41 threads 703 comments Monterey, CA

    22   10:43am Fri 16 Nov 2012   Share   Quote   Permalink   Like (1)   Dislike   All this Twinkie talk - think I'm gonna have to go out and get one tonight.

23. taxee Follow Befriend 88 threads 457 comments El Cerrito, CA Premium

    23   10:47am Fri 16 Nov 2012   Share   Quote   Permalink   Like   Dislike (1)   Protected   zzyzzx says Hopefully someone will buy the plant equipment and move it to a right to work state. And so we get to the crux of the problem: all those numbers and signatures on contracts for homes outside the boondocks have to either be changed or they get bought by the fed. Pushing the reset button on industrial stability and workers rights will get the nobility reborn. Be careful what you wish for.

24. zzyzzx Follow Befriend (9) 414 threads 4,124 comments Baltimore, MD

    24   11:11am Fri 16 Nov 2012   Share   Quote   Permalink   Like (1)   Dislike   http://dailycaller.com/2012/11/16/boxes-of-twinkies-ho-hos-going-for-100-and-more-on-ebay/ With Hostess shutdown, boxes of Twinkies, Ho Hos going for $100 and more on eBay A box of Ho Hos is being sold for $59.99, while a 48-pack of Zingers is going for $43. One trickster claims to have “the last Twinkie in the heartland” and the single dessert has a starting bid of $50, but you can buy it right now for $5,235. Other sellers are taking more modest approaches with starting bids from $11 to $15. The best eBay listing so far comes from a seller who wants to give away his last 10-count box of Twinkies for $595 – but there’s a catch: There are only four cakes left because the seller “got into them this morning.” But how can you go wrong with an expiration date of 12-02-2057? That's probably what they would have to sell for at retail in order to pay what the unions thugs wanted.

25. zzyzzx Follow Befriend (9) 414 threads 4,124 comments Baltimore, MD

    25   11:13am Fri 16 Nov 2012   Share   Quote   Permalink   Like (1)   Dislike   WalMart already sells it's own Twinkee clone. No union thugs needed!

26. zzyzzx Follow Befriend (9) 414 threads 4,124 comments Baltimore, MD

    26   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.

27. upisdown Follow Befriend 631 comments

    27   11:19am Fri 16 Nov 2012   Share   Quote   Permalink   Like   Dislike (1)   lostand confused says Maybe some other companies will come in and buy them in bits and pieces, while jettisoning the debt? You just found a job for Mitt Romney. But what will all the hoarders and doomsday preppers buy if he turns it around?

28. CaptainShuddup Follow Befriend (1) 247 threads 4,704 comments

    28   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?

29. rooemoore Follow Befriend 41 threads 905 comments Ross, CA

    29   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.

30. thunderlips11 Follow Befriend (13) 51 threads 2,632 comments Premium

    30   12:58pm Fri 16 Nov 2012   Share   Quote   Permalink   Like (2)   Dislike (1)   Protected   zzyzzx says WalMart already sells it's own Twinkee clone. No union thugs needed! Just illegal immigrants with stolen SSNs.

31. CaptainShuddup Follow Befriend (1) 247 threads 4,704 comments

    31   1:09pm Fri 16 Nov 2012   Share   Quote   Permalink   Like (1)   Dislike (1)   rooemoore says 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. So you're saying the Liberal Union assault on Hostess was all about saving us from our selves, and you really didn't give a good rip about the plight of those employees that work there. They are better suited on the Welfare dole for the Liberal cause after all. I mean there's always 2016, and the Liberals needs votes. I wonder when Cadillac will make the Welfare edition of the XKS? All to save me from my fat ass from my self. YET! The corn ethanol subsidy was upheld by the EPA today, in spite of the drought. It's bloody Liberal perfecta, you should take those odds to the track.

32. Scagnetti Follow Befriend (1) 15 threads 300 comments

    32   1:33pm Fri 16 Nov 2012   Share   Quote   Permalink   Like (1)   Dislike   I work in a union shop myself...although I am a salary manager. Truth is, even with good management, it's hard for union shops to compete. They're up against free trade, competing with foreign countries paying next to nothing for wages and no benefits, American non union shops with lower pay and lesser benefits and no pensions, and American consumers wanting the cheapest goods possible. The long slow decline will continue. As far as hostess in particular, how can you afford to pay union wages when you're selling $2 low value products? It's not car manufacturing or steel production where there is a lot of money to be made on each sale. I would think it would be hard to make a profit this way even with tremendous volume.

33. rooemoore Follow Befriend 41 threads 905 comments Ross, CA

    33   2:23pm Fri 16 Nov 2012   Share   Quote   Permalink   Like   Dislike (1)   CaptainShuddup says rooemoore says 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. So you're saying the Liberal Union assault on Hostess was all about saving us from our selves, and you really didn't give a good rip about the plight of those employees that work there. They are better suited on the Welfare dole for the Liberal cause after all. I mean there's always 2016, and the Liberals needs votes. I wonder when Cadillac will make the Welfare edition of the XKS? All to save me from my fat ass from my self. YET! The corn ethanol subsidy was upheld by the EPA today, in spite of the drought. It's bloody Liberal perfecta, you should take those odds to the track. No, that isn't exactly what I'm saying. I am merely pointing out that wages have stagnated for a long time in this country. The problem isn't that Hostess paid it's employees too much, it is that their competitors pay their employees too little. (That and some dumbass management decisions with the business) Twinkies can be made anywhere in the world. They travel well and last forever. So yeah, I can see how cheap labor competitors would want to move in to the US market. Especially when they are not required to say that their product was made in Vietnam or Indonesia. Look, I understand people getting pissed off at the union being so firm and, possibly, shooting itself in the foot. But don't you think that maybe the discussion should be how can we get wages to go up? We are in a race to the bottom as far as compensation is concerned and its a race we will lose even if we win it. Instead, why not enforce living wage salaries in the US and tax imports more? Businesses want a level playing field. People want a decent wage. It is the job of governments to make both happen and keep both happy.

34. taxee Follow Befriend 88 threads 457 comments El Cerrito, CA Premium

    34   2:32pm Fri 16 Nov 2012   Share   Quote   Permalink   Like (2)   Dislike (1)   Protected   rooemoore says Instead, why not enforce living wage salaries in the US and tax imports more? Businesses want a level playing field. People want a decent wage. It is the job of governments to make both happen and keep both happy. Some people want to pay slave wages and have high housing costs too. Can't imagine why. Maybe they want to own 100% of everything, your wife, and your daughter too?

35. errc Follow Befriend (7) 29 threads 1,210 comments 31 male Premium

    35   2:37pm Fri 16 Nov 2012   Share   Quote   Permalink   Like (2)   Dislike (1)   Protected   SFace says 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.. White bread, delicious and nutritious (in someones bizarro world). Is it any wonder why bigphrma and the health insurance companies are sucking us dry, when you have people crying foul because the great american icon hostess won't be making twinkies any longer, and otherwise seemingly informed individuals such as Mark here are patting themselves on the back for feeding their kids white bread while avoiding meat,,,,,

36. elliemae Follow Befriend (25) 413 threads 6,979 comments Saint George, UT elliemae's website

    36   1:27pm Sat 17 Nov 2012   Share   Quote   Permalink   Like (2)   Dislike (1)   Their "food" was overprocessed, tasted horrible and with the multitudes of knock-offs such as the walmart brands, little debbie, etc they had no chance. 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, and attempted to work with the union perhaps they would have had a chance. I'm sure that management will make a shitload of bonuses and such that their "retirement" will be assured. The line workers - well, that's a different story. I blame Michelle Obama and her Liberal cohorts. If only she had planted twinkies and those horrible hostess cupcakes in her White House garden, the rest of the country would have blindly followed & done the same. She could have saved Hostess brands, but instead she chose to plant tomatos & cucumbers. My proof that it's a Liberal Conspiracy: CaptainShuddup says They are better suited on the Welfare dole for the Liberal cause after all. I mean there's always 2016, and the Liberals needs votes. TPB would never claim a liberal conspiracy unless he had some proof or was high. And since pot is illegal in florida, being a responsible conservative, he's probably not high...

37. zzyzzx Follow Befriend (9) 414 threads 4,124 comments Baltimore, MD

    37   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.

38. zzyzzx Follow Befriend (9) 414 threads 4,124 comments Baltimore, MD

    38   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.

39. elliemae Follow Befriend (25) 413 threads 6,979 comments Saint George, UT elliemae's website

    39   9:18am Sun 18 Nov 2012   Share   Quote   Permalink   Like (1)   Dislike   If they had made their fare taste like food it would have helped.

40. Homeboy Follow Befriend 13 threads 1,481 comments

    40   10:14pm Sun 18 Nov 2012   Share   Quote   Permalink   Like (1)   Dislike   Thank God the real story is making the rounds on facebook, 'cuz the "blame the unions" crowd here sure isn't gonna let anyone in on it. http://americablog.com/2012/11/hostess-twinkie-ceo-salary.html

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