Hostess Brands Inc., the maker of iconic treats such as Twinkies and traditional pantry staple Wonder Bread, said Friday it is shuttering its plants and firing about 18,000 workers as it seeks to liquidate the 82-year-old business.
The company, which filed for Chapter 11 in January, said it has requested bankruptcy-court authorization to close the business and sell its assets.
[quote]MaximusB wrote:
Hostess Brands Inc., the maker of iconic treats such as Twinkies and traditional pantry staple Wonder Bread, said Friday it is shuttering its plants and firing about 18,000 workers as it seeks to liquidate the 82-year-old business.
The company, which filed for Chapter 11 in January, said it has requested bankruptcy-court authorization to close the business and sell its assets.
Well played Bakery, Confectionery, Tobacco Workers and Grain Millers International Union…well played indeed.
Yah clearly the unions fault. Lets see if anyone that thinks this, one knows how many ceos hostess has had in the last 7 years. How many of these had any relevant eperience. If said ceos took increased compensation while unilatterally breaking a contract. Bonusoints if they know if this is the first time hostess has declared bankruptcy.
Terribly managed company going out of business. Free market at work.
[quote]groo wrote:
Yah clearly the unions fault. Lets see if anyone that thinks this, one knows how many ceos hostess has had in the last 7 years. How many of these had any relevant eperience. If said ceos took increased compensation while unilatterally breaking a contract. Bonusoints if they know if this is the first time hostess has declared bankruptcy.
Terribly managed company going out of business. Free market at work.[/quote]
I’m sure the Union knew this…why demand things that they knew would shut it down?
[quote]groo wrote:
Yah clearly the unions fault. Lets see if anyone that thinks this, one knows how many ceos hostess has had in the last 7 years. How many of these had any relevant eperience. If said ceos took increased compensation while unilatterally breaking a contract. Bonusoints if they know if this is the first time hostess has declared bankruptcy.
Terribly managed company going out of business. Free market at work.[/quote]
I’m sure the Union knew this…why demand things that they knew would shut it down?
It’s ALL BUSH’S FAULT DAMMIT!![/quote]
4 years from now, they will screaming the same bullshit, they will ride that horsey til he croaks.
Well far be it from me to suggest that every 10 dollar an hour factoey job isnt a boon to the economy.
The company reneged on its current contract obligations. It unilaterally was going to cut wages and benefits by 30 percent roughly without negotiation while increasing exec compensation. 6 ceos in about 7 years. It was run like shit and should fold.
[quote]groo wrote:
Well far be it from me to suggest that every 10 dollar an hour factoey job isnt a boon to the economy.
The company reneged on its current contract obligations. It unilaterally was going to cut wages and benefits by 30 percent roughly without negotiation while increasing exec compensation. 6 ceos in about 7 years. It was run like shit and should fold. [/quote]
Link to reneging contracts?
Ever wonder what might make a company cut wages and benefits?? Maybe increased taxes and Obamacare perhaps?
And a $10 an hour factory job beats the living FUCK out of unemployment…oh wait, now WE ARE PAYING FOR THEM TO LIVE.
[quote]groo wrote:
Well far be it from me to suggest that every 10 dollar an hour factoey job isnt a boon to the economy.
The company reneged on its current contract obligations. It unilaterally was going to cut wages and benefits by 30 percent roughly without negotiation while increasing exec compensation. 6 ceos in about 7 years. It was run like shit and should fold. [/quote]
Link to reneging contracts?
Ever wonder what might make a company cut wages and benefits?? Maybe increased taxes and Obamacare perhaps?
And a $10 an hour factory job beats the living FUCK out of unemployment…oh wait, now WE ARE PAYING FOR THEM TO LIVE.
Holy sweet jeebus.[/quote]
Disagree with pretty much every point.
At its heart its not a unions job to rubber stamp management desires.
Hostess was and is a terribly managed company. The unions didnt cause that.
The union shares blame but the company breaking contracts and being poorly ran has little to do with bush romney or obama.
[quote]MaximusB wrote:
Apparently making nothing beats whatever Hostess was offering.
More Democratic arithmetic. [/quote]
This is a strawman but Ill play. If my company told everyone they would take a 30 percent pay and benefit cut or they were going to shut down. I do think they should shut down. I would get another job. If I told any individual working for me they were taking za30percent pay cut or we were done I would expect them to quit.
Companies whose sole mission in regards to labor is to minimize the cost are not necessarily good for the evomy.
[quote]MaximusB wrote:<<< 4 years from now, they will screaming the same bullshit, they will ride that horsey til he croaks. [/quote]I don’t think it was ever actually alive, but that didn’t stop em.
[quote]groo wrote:
Yah clearly the unions fault. Lets see if anyone that thinks this, one knows how many ceos hostess has had in the last 7 years. How many of these had any relevant eperience.[/quote]
You make a good point here. Before taking on the role of Chief Executive one should have experience. Otherwise, that person will get the company into a great deal of trouble. And so it goes with our country as well!
Do you think any of the Hostess CEO’s were community organizers? We know that sucks as experience for an important job.
[quote]MaximusB wrote:
Apparently making nothing beats whatever Hostess was offering.
More Democratic arithmetic. [/quote]
This is a strawman but Ill play. If my company told everyone they would take a 30 percent pay and benefit cut or they were going to shut down. I do think they should shut down. I would get another job. If I told any individual working for me they were taking za30percent pay cut or we were done I would expect them to quit.
Companies whose sole mission in regards to labor is to minimize the cost are not necessarily good for the evomy.
[/quote]
Just to give you an idea of how bad this can get, take a look at what happened here.