T Nation

Hostess Files for Bankruptcy

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.

Got to love union bosses blame Bush and when that fails blame Romney

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.

Coming up at News at 11…18,000 more people register for food stamps.

[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]UtahLama wrote:

[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.

I say put a Ho-Ho/Twinkie Shop next door to every head-shop in California… and now, Colorado and Washington State.

Problem solved!

Mufasa

[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.

Apparently making nothing beats whatever Hostess was offering.

More Democratic arithmetic.

[quote]UtahLama wrote:

[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]MaximusB wrote:
Apparently making nothing beats whatever Hostess was offering.

More Democratic arithmetic. [/quote]

Not if you get a job that pays better, obviously.

[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]groo wrote:

[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.

Look who left my state for greener pastures…

Abraxis Health
Adobr Systems
Alza Corp.
American AVK
American Racing
Apple Computer
Audix Corporation
Apria Healthcare Group
Assurant Inc.
Barefoot Motors
Bazz Houston Co.
Beckman Coulter
Bild Industries Inc.,
Bill Miller Engineering
BMC Select
BPI Labs
Buck Knives
CalPortland Cement
California Casualty Group
CalStar Products Inc
Checks To-Go
Chivaroli & Associates CoreSite
A Carlyle Company
Creel Printing
Dassault Falcon
DaVita Inc.
Dennyâ??s Corp
Digital Domain
Ditech DuPont
Fabros Technology
Ebay
EDMO Distributors Inc
Edwards Lifesciences
Electronic Arts, Inc
EMRISE Corp
Facebook FallLine Corporation
Fidelity National Financial
First American Corp
Fluor Corp
Foxconn Electronics
Fuel System Solutions
Gregg Industries
Hewlett-Packard
Hilton Hotels Corp
Hino Motor Manufacturing USA
Intel Corporation
Intuit of Mountain View
J.C. Penney
Kimmie Candy Co.
Klaussner Home Furnishings
Knight Protective Industries
Kulicke & Soffa Industries Inc.
LCF Enterprises
Lennox Hearth Products Inc.
Lyn-Tron Inc.
Mariah Power
Maxwell America
Miasolé
MotorVac Technologies
Nissan North America
Northrop Grumman
One2Believe
Patmont Motor Werks Inc.
Paragon Relocation Resources
Pixel Magic
Plastic Model Engineering Inc.
Precor
Premier Inc.,
Pro Cal of South Gate
Race Track Chaplaincy of Amer.
Red Truck Fire & Safety Co. SAIC
Scale Computing,
Schott Solar Inc.
SimpleTech Smiley Industries
Solaicx
SolarWorld
Special Devices Inc.
StarKist
Stasis Engineering
Stata Corp.
Tapmatic Teledesic
Telmar Network Technology Inc,
Terremark
Terumo Cardiovascular Systems
Toyota
True Games Interactive Inc.
TTM Technologies
Understand.com
US Press shifted
USAA Insurance
Yahoo

The moral of the story, best you keep the environment ripe, or companies go elsewhere.

[quote]smh23 wrote:

[quote]MaximusB wrote:
Apparently making nothing beats whatever Hostess was offering.

More Democratic arithmetic. [/quote]

Not if you get a job that pays better, obviously.[/quote]

You missed it, you really missed it.

Here in Memphis we had Wonderbread and now have a lot of people without jobs. We had a hostess clearance store too. It was a fat bastards best friend.

I’m not sure the strike is the only thing going on here, but it was probably the final nail in a struggling company’s coffin.

Only around 5,000 of the 18,500 employees being laid off were on strike. The company may have made it though the holidays if the strike didn’t happen.

Striking - i.e. not getting paid, right before the holidays seems like one of the stupidest things you can do. Good work.

Thanks a lot union leaders, at least your kids still get a Christmas this year.