Hostess: Twinkies, Ding Dongs, Wonder Bread maker going out of business

[Phurfur 70]

A cornerstone of America is shutting down.

 

The stunning announcement from Hostess that it is shutting down and liquidating all its factories is sending shock waves through communities, its workers, and their families on the eve of the holiday season.

 

It's the result of a bankruptcy and labor dispute, where the company threatened to close if workers would not accept pay cuts and other concessions. The workers stood firm, saying they have already accepted cuts in pay and benefits.

 

So the company Friday morning said it has no choice but to close, laying off more than 18,000 employees

 

 

Read more: http://www.wptv.com/dpp/money/consumer/hostess-twinkies-ding-dongs-wonder-bread-maker-going-out-of-business-shoppers-stock-up#ixzz2COXcP77S

[phillybear 366]

Obama.

 

One step closer to anarchy.

[MDC 7,885]

Obama.

 

He really stuck it to fatties like you.

[kutulu 1,703]

It really is the end of the world.

[Bruce Benedict 0]

People may have to eat food.

[phillybear 366]

He really stuck it to fatties like you.

 

I've never liked sweet foods or drinks. I spent my entire life avoiding cakes and sodas. But by all means, keep thinking that I'm fat. I know you need material for your feeble attempts at humor.

 

Now, spicy and heat, that's a whole other story.

[Bert 1,128]

He really stuck it to fatties like you.

He certainly did stick it to that fat lard laden sloth of a surgeon general he appointed.

[Phurfur 70]

He really stuck it to fatties like you.

 

Once again MDC makes an unfounded pathetic attack on anyone who makes negative comments about his Idol, Barack Obama. You need a real life buddy!

[drobeski 3,061]

Unions dudes aren't too bright

[MDC 7,885]

 

Once again MDC makes an unfounded pathetic attack on anyone who makes negative comments about his Idol, Barack Obama. You need a real life buddy!

 

I didn't like Obummer much before but now that I see how butthurt you ladies are about the election, I think they should put his face on Mt. Rushmore.

[TimmySmith 2,783]

If the Union is so knowledgeable about the business why don't they use their money to buy Hostess and run it the way they see fit? It a better idea than allowing their people to be unemployed.

[Recliner Pilot 61]

That union really showed them, huh?

[Bert 1,128]

Wetbacks new age democrats don't eat twinkies they eat churros and lard filled tortillas vato. Es Grupo Bimbo primero numero uno. hope and change forward ese.

[Bruce Benedict 0]

Hostess and the rest of the snack cake cartel have been foisting carcinogens upon the American public for generations, strongarming the FDA into compliance along the way.

 

Any time the voice of the unions can decree that cancer mongers will fall short of operating capital, it's regulation by public decree. It's a win for the people, and a win for Obama.

 

Together, our vocies will be heard.

 

ONE MORE STEP TOWARD SOCIALIST UTOPIA!

[NewbieJr 541]

I've never liked sweet foods or drinks. I spent my entire life avoiding cakes and sodas. But by all means, keep thinking that I'm fat. I know you need material for your feeble attempts at humor.

 

Now, spicy and heat, that's a whole other story.

Most diabetics are fat. That is all

[RLLD 4,275]

That union really showed them, huh?

 

Clearly......how brilliant, we refuse to concede a focking thing, so fire us all so we can have no job.... that is some sound thinking.....

[Bruce Benedict 0]

Actually, having read even the slightest bit of backstory here, this had nothing whatsoever to do with unions. They were just crammed in there to appeal to right wing knuckleheads in search of keywords to get angry about.

 

Hostess is doomed for the same reason sub-prime mortgages were: they were a sh1tty company run by morons, and still got leveraged up to their eyeballs in debt by predatory lenders capitalizing on the intellectually bankrupt and completely phony discipline of modern accounting. Lulz.

 

No matter how you reckon it, though, fewer goop-filled polymer caketubes wrecking the cells of good, honest, liberal Americans is a win.

 

I'm still calling this one a feather in Obama's cap.

 

And Twinkies will be fine, for those of you who are intellectual-property ignoramuses. Too much brand equity there not to get snapped up by some rival with a polymer cake factory.

[hoytdwow 202]

crapper busting fatties rejoice mourn!

[Bruce Benedict 0]

Just transmogrified every share of Apple in my portfolio to Little Debbie.

 

SNACK CAKES WERE MEANT TO COME IN TWOS!

[phillybear 366]

Most diabetics are fat. That is all

 

Well, then let's all join hands and shout to the heavens Hallelujah to jerryskids for his grossly obese daughter. Oh, and that gargantuan fatso Jay Cutler.

[NewbieJr 541]

Well, then let's all join hands and shout to the heavens Hallelujah to jerryskids for his grossly obese daughter. Oh, and that gargantuan fatso Jay Cutler.

Well, you're either enormously fat or grotesque looking. You're hiding something. My hunch is that you're a fatty boombelatti. Knowing of your health issues.

[phillybear 366]

Well, you're either enormously fat or grotesque looking. You're hiding something. My hunch is that you're a fatty boombelatti. Knowing of your health issues.

 

Well, considering that Mars is my birth planet, I've always had trouble breathing this planet's atmosphere. But I managed to build a good number of pyramids with Bigfoot's help before my health failed.

[NewbieJr 541]

Well, considering that Mars is my birth planet, I've always had trouble breathing this planet's atmosphere. But I managed to build a good number of pyramids with Bigfoot's help before my health failed.

Gotcha

[IGotWorms 4,063]

Good. Hopefully there will be a few less fat asses in America now.

[shovelheadt 71]

No way that someone doesn't scoop up those products.

[RLLD 4,275]

Actually, having read even the slightest bit of backstory here, this had nothing whatsoever to do with unions. They were just crammed in there to appeal to right wing knuckleheads in search of keywords to get angry about.

 

Hostess is doomed for the same reason sub-prime mortgages were: they were a sh1tty company run by morons, and still got leveraged up to their eyeballs in debt by predatory lenders capitalizing on the intellectually bankrupt and completely phony discipline of modern accounting. Lulz.

 

No matter how you reckon it, though, fewer goop-filled polymer caketubes wrecking the cells of good, honest, liberal Americans is a win.

 

I'm still calling this one a feather in Obama's cap.

 

And Twinkies will be fine, for those of you who are intellectual-property ignoramuses. Too much brand equity there not to get snapped up by some rival with a polymer cake factory.

 

Actually is has everything to do with the employees. IN 2004 the company was heavily burdened with pension obligations, labor rules in addition to debt and declining sales. In 2009 they came out of bankruptcy under the ownership of Ripplewood. The company came out of it after both lenders and the Teamsters allowed some concessions. The public recognition of health and food role has led to the continued decline in sales.

 

Ultimately in a show down between Silver Point and the unions, with both players having ample skin in the outcome. The unions essentially said fock you to the hedge funds, mistakenly thinking that they were dealing with the typical board room goons. That blew up right in their face as the hedge fund people are typically ruthless, and are far more inclined to cut the company to pieces than try to save it anyway.

 

So you have the union morons acting like petulant children who think they can force their way, meanwhile the hedge's are already deciding to can them all the cut the thing up since they know it will likely save them money on a company who's product has fallen from favor; think buggy whips.

 

The unions had a small sliver of hope to save their jobs in this industry, and blew it on their arrogance.

[OldMaid 2,135]

:whispers: Who's gonna tell Heavy-set?

[Patriotsfatboy1 1,433]

Actually, having read even the slightest bit of backstory here, this had nothing whatsoever to do with unions. They were just crammed in there to appeal to right wing knuckleheads in search of keywords to get angry about.

 

Hostess is doomed for the same reason sub-prime mortgages were: they were a sh1tty company run by morons, and still got leveraged up to their eyeballs in debt by predatory lenders capitalizing on the intellectually bankrupt and completely phony discipline of modern accounting. Lulz.

 

No matter how you reckon it, though, fewer goop-filled polymer caketubes wrecking the cells of good, honest, liberal Americans is a win.

 

I'm still calling this one a feather in Obama's cap.

 

And Twinkies will be fine, for those of you who are intellectual-property ignoramuses. Too much brand equity there not to get snapped up by some rival with a polymer cake factory.

Apparently, you read very little backstory and are talking out of your ass. The workers have been on strike for a week and they can't get them back to work. So, they are going out of business.

[JackARoot 2]

Where's the Sad Twinky emoticon?

[RLLD 4,275]

Where's the Sad Twinky emoticon?

 

http://www.youtube.com/watch?v=h81VGWQip4k

[JackARoot 2]

http://www.youtube.com/watch?v=h81VGWQip4k

[IGotWorms 4,063]

My condolences drobs

[Bruce Benedict 0]

Apparently, you read very little backstory and are talking out of your ass. The workers have been on strike for a week and they can't get them back to work. So, they are going out of business.

Hi.

 

The backstory goes back more than a week. More like two decades. HTH. When you can fathom beyond republitard talking points, maybe we can get to the big boy conversation. But color me pessimistic.

[Phurfur 70]

Actually, having read even the slightest bit of backstory here, this had nothing whatsoever to do with unions. They were just crammed in there to appeal to right wing knuckleheads in search of keywords to get angry about.

 

Hostess is doomed for the same reason sub-prime mortgages were: they were a sh1tty company run by morons, and still got leveraged up to their eyeballs in debt by predatory lenders capitalizing on the intellectually bankrupt and completely phony discipline of modern accounting. Lulz.

 

No matter how you reckon it, though, fewer goop-filled polymer caketubes wrecking the cells of good, honest, liberal Americans is a win.

 

I'm still calling this one a feather in Obama's cap.

 

And Twinkies will be fine, for those of you who are intellectual-property ignoramuses. Too much brand equity there not to get snapped up by some rival with a polymer cake factory.

 

Here are some more examples:

 

 

The complete list of faltering or bankrupt green-energy companies the gov't subsidized:

 

1.Evergreen Solar ($24 million)*

2.SpectraWatt ($500,000)*

3.Solyndra ($535 million)*

4.Beacon Power ($69 million)*

5.AES’s subsidiary Eastern Energy ($17.1 million)

6.Nevada Geothermal ($98.5 million)

7.SunPower ($1.5 billion)

8.First Solar ($1.46 billion)

9.Babcock and Brown ($178 million)

10.EnerDel’s subsidiary Ener1 ($118.5 million)*

11.Amonix ($5.9 million)

12.National Renewable Energy Lab ($200 million)

13.Fisker Automotive ($528 million)

14.Abound Solar ($374 million)*

15.A123 Systems ($279 million)*

16.Willard and Kelsey Solar Group ($6 million)

17.Johnson Controls ($299 million)

18.Schneider Electric ($86 million)

19.Brightsource ($1.6 billion)

20.ECOtality ($126.2 million)

21.Raser Technologies ($33 million)*

22.Energy Conversion Devices ($13.3 million)*

23.Mountain Plaza, Inc. ($2 million)*

24.Olsen’s Crop Service and Olsen’s Mills Acquisition Company ($10 million)*

25.Range Fuels ($80 million)*

26.Thompson River Power ($6.4 million)*

27.Stirling Energy Systems ($7 million)*

28.LSP Energy ($2.1 billion)*

29.UniSolar ($100 million)*

30.Azure Dynamics ($120 million)*

31.GreenVolts ($500,000)

32.Vestas ($50 million)

33.LG Chem’s subsidiary Compact Power ($150 million)

34.Nordic Windpower ($16 million)*

35.Navistar ($10 million)

36.Satcon ($3 million)*

 

*Denotes companies that have filed for bankruptcy.

[Patriotsfatboy1 1,433]

Hi.

 

The backstory goes back more than a week. More like two decades. HTH. When you can fathom beyond republitard talking points, maybe we can get to the big boy conversation. But color me pessimistic.

 

 

Let me know when you are wearing your big boy pants so that we can have that conversation.

[Frozenbeernuts 2,332]

Actually is has everything to do with the employees. IN 2004 the company was heavily burdened with pension obligations, labor rules in addition to debt and declining sales. In 2009 they came out of bankruptcy under the ownership of Ripplewood. The company came out of it after both lenders and the Teamsters allowed some concessions. The public recognition of health and food role has led to the continued decline in sales.

 

Ultimately in a show down between Silver Point and the unions, with both players having ample skin in the outcome. The unions essentially said fock you to the hedge funds, mistakenly thinking that they were dealing with the typical board room goons. That blew up right in their face as the hedge fund people are typically ruthless, and are far more inclined to cut the company to pieces than try to save it anyway.

 

So you have the union morons acting like petulant children who think they can force their way, meanwhile the hedge's are already deciding to can them all the cut the thing up since they know it will likely save them money on a company who's product has fallen from favor; think buggy whips.

 

The unions had a small sliver of hope to save their jobs in this industry, and blew it on their arrogance.

First of all, I think we can agree that when a union workforce is involved with a company that goes bankrupt, usually the union takes initial blame, even if untrue.

 

I am not taking either side in this as I have no idea what the back story is and who is actually at fault. One thing that I have learned is to take everything with a grain of salt. If the person/organization bringing you the information says that the union was to blame and soaring pension costs killed the company what proof are they giving?

 

Are they giving you current wage and benefit costs? How much does the average worker make? How much is their average pension? How much do their benefits cover before and after retirement?

 

These questions rarely get answered but for a general "Soaring pension and benefit costs." If you can provide more detailed information about what the company had to deal with then maybe you could be the respectable informant to set the record straight (Not saying everyone is going to believe you, but with solid statistics and data I am willing to believe any side in any debate.)

 

I am sure that the workers pay and benefits had at least something to do with the problems, but, BUT, isn't that always the case when a company goes bankrupt? I mean if you were able to cut your workers pay continually until they were making near nothing then wouldn't that always alleviate some of the stress on a floundering corporation?

 

One of the points of a union is to stand for what they believe is a fair wage for the work they do. You give back wages that were earned (obviously not the case in all unions as some have gained too much power and do hold back a company's growth, just have a hard time initially believing the workers of a fat factory became so powerful and were all paid exorbitant amounts of moneny) and you have a very hard time getting them back, even in good economic times.

 

There are way too many people out there that are willing to look at a union and the work they do and determine that the wages are just too much. What if you were in their shoes? What if you were working there for a living and had to support a family? "Then go work somewhere else!" Well this is much easier said than done as many of those on this board know how hard it is to find another job, one that is enough to give actual support.

[parrot 789]

I just sold all my gold and bought Ding Dongs. :bigbrain:

[Recliner Pilot 61]

Unions roon another company.

 

18,500 lose their job.

 

Lookin' out for the lil guy.

[jerryskids 7,085]

Well, then let's all join hands and shout to the heavens Hallelujah to jerryskids for his grossly obese daughter. Oh, and that gargantuan fatso Jay Cutler.

Unfortunately, it's common for people to lump all diabetics together. Type 2s do tend to be fat (at least when initially diagnosed), whereas Type 1s (like my daughter) tend to be significantly thinner than the normal population. The reason for the latter is that they, by necessity, closely monitor and control their food intake, particularly with carbs. A Type 1 isn't going to snarf down a box of twinkies very often, as the odds of estimating the appropriate amount of insulin for that much sugar are practically zero.

 

If I recall, you were some sort of hybrid Type 1.5 or something, which perhaps comes from your martian genetics?

 

Back on topic, I mentioned to that same daughter this morning that Hostess was going out of business, and asked her the following: "If a company says we can't pay you more than $8 or we'll go out of business, and the workers say you have to pay us $10 or we won't work, how much should they be paid?" Her answer was $9. I thought that was an intuitive understanding of the negotiation process for an 11 yr old.

[NewbieJr 541]

I wonder what the union rep is saying to all those unemployed workers now. That has to be an awkward situation.