Bye Bye Hostess Brands - No Twinkies for the Apocalypse

[JetPhoto 626]

Hostess Brands Liquidation: Twinkie-Maker Seeks Court Permission To Liquidate

Hostess Brands Inc. says it's going out of business after striking workers across the country crippled its ability to make its Twinkies, Ding Dongs, Wonder Bread and other snacks.

The company had warned employees that it would file a motion with U.S. Bankruptcy Court Friday seeking permission to shutter its operations and sell assets if plants didn't resume normal operations by a Thursday evening deadline.

http://www.huffingto..._n_2143284.html

This company has been in Chapter 11 protection since January, for bankruptcy and the employees decide to strike with the company threatening to close it's doors if they did and now 18,500 are to be laid off for the holidays. Not too smart on behalf of the unions. As much as it sucks to get paid less, I would rather have a job with less money than no job at all.

[dwcfireman 656]

Stock up now before they`re gone!

More seriously, though, the unions should have dealt with the issue much differently, especially with the holidays coming up. How do explain to kids that Santa didn't bring them any gifts? How do you explain to your signaificant other that you can no longer afford the bills? Now you have to spend the holidays in a dark, cold house?? If the union sucked it up for a few months and took the lower pay, and negotiate an adendum where higher pay could return if profit margins increase, then 18,500 people would still have a job.

I would rather have a job with less money than no job at all.

Me, too!

[FFEMT150 214]

Sums up how I feel about this...

http://www.youtube.com/watch?v=M1vYj0E2Hr0

[FFEMT150 214]

But in all seriousness, I am sorry for those about to be on the street. I wish them the best of luck.

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Situations such as this make me shake my head at the mindset of my Union Brothers.........

[SRS131EMTFF 471]

You guys must be crazy if you think that twinkies or any other Hostess Brand product is going anywhere. Someone is going to buy the manufacturing and marketing rights and make sure that we all have plenty of twinkies when the zombies come looking for brains.

[IzzyEng4 427]

Bimbo brand breads and another company have been named in looking to purchase Hostess' assets.

[SECTMB 612]

While I am sorry to see Twinkies go offline for awhile, they are not the same as they were, and not as good as they were in the 60's and 70's. Don't know what they did but the cake was more dense and golden back then.

Anyway, bonehead move by the Union bosses, who will still have their overpaid jobs. Hostess has been struggling for years in and out of several bankruptcies and never being able to get all sides to come up with a long term workable plan.

Someone will pick up the assets but that does not mean the employees will get their old jobs back. And, its not just the immediate 18,500 jobs. How many residual jobs will be lost as a result of the facilities closing? All the people who worked for companies that serviced those facilities and businesses those employees supported. The trickle down could reach much further.

There is plenty of blame to go around as to why Hostess failed, but right now, the final nail was pounded in by the Union.

[DR104 141]

_{always two sides to a story and in the case negotiation. As its been for some time now its the unions fault. Just look at whats going on around Westhester. Yonkers, white plains New Ro and CSEA with the county. For all you guys saying you would work for less to keep your jobs, Well how much less? $4.00 an hour? pay for your health care work 80 hours a week.What next. If you give in to one thing it may never stop. I dont know what the unions turned down or what the CEO was prosposing. You cant judge from a one minute clip from the today show.} Edited November 18, 2012 by DR104

[Spartan052 43]

dude i just want my twinkies besides i do feel bad for those who lost thier jobs but hostess was a big part of our economy

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The shutdown had been put on hold. The Judge has mandated that the Bakery, Confectionery, Tobacco Workers and Grain Millers International Union go to into mediation with Hostess, something he was suprised they hadn't done already and leaves a huge question mark.

http://www.usatoday.com/story/money/business/2012/11/19/twinkies-hostess-mediation/1715415/

[mstrang1 213]

If this company was in such financial ruin, how could they afford to give executives 300% pay raises?!? Oh yeah, they sign their own checks, and they come out all rosy blaming the union. The union members already took hits, and the company is doing no better. Why would this time be any different?

[nycmedic 65]

The union did not return Hostess phone calls for over a month. That in itself says alot about the union. Like usual the only people who make out in these situations is the management / stock holders and the upper level union reps who jobs will not be lost

[DR104 141]

Greg Rayburn is a liquidation specialist. They hired him a couple of months ago to liquidate the company. Don't get it twisted.

Salary Increases at Hostess.

Some creditors question Hostess pay raises approved in late July.

Brian Driscoll, CEO, around $750,000 to $2,550,000.

Gary Wandschneider, EVP, $500,000 to $900,000.

John Stewart, EVP, $400,000 to $700,000.

David Loeser, EVP, $375,000 to $656,256.

Kent Magill, EVP, $375,000 to $656,256.

Richard Seban, EVP, $375,000 to $656,256.

John Akeson, SVP, $300,000 to $480,000.

Steven Birgfeld, SVP, $240,000 to $360,000.

Martha Ross, SVP, $240,000 to $360,000.

Rob Kissick, SVP, $182,000 to $273,008.

....a company using bankruptcy as a bargaining chip........it failed so they are liquidating a profitable company........

after knowing that i wouldnt return phone calls either

[psyanide 11]

The shutdown is on hold:

http://www.wptv.com/dpp/news/national/hostess-bankruptcy-update-twinkies-wonder-bread-ding-dong-makers-shutdown-on-hold

They are are trying mediation:

http://www.latimes.com/business/la-fi-hostess-options-20121120,0,4332341.story

[IzzyEng4 427]

Now everyone remember Hostess has two unions, the Teamsters and the bakers Union. The Teamsters saw the writing on the wall and accepted as a union to agree to the contract proposed. The Baker's Union is the ones who said nope.

Now there are negotiations going to be or have already started once again between Hostsess and the unions.