Skip to comments.Hostess says liquidation decision expected Friday (Going Galt)
Posted on 11/15/2012 4:35:49 PM PST by Navy Patriot
Hostess Brands Inc. said it likely won't make an announcement until Friday morning on whether it will move to liquidate its business, after the company had set a Thursday deadline for striking employees to return to work.
The maker of Twinkies, Ding Dongs and Wonder Bread had warned employees that would file a motion in U.S. Bankruptcy Court to unwind its business and sell off assets if plant operations didn't return to normal levels by 5 p.m. EST Thursday. That would result in the loss of about 18,000 jobs.
The Teamsters meanwhile are urging the smaller union to hold a secret ballot on whether to continue striking. Citing its financial experts who had access to the company's books, the Teamsters say that Hostess' warning of liquidation is "not an empty threat or a negotiating tactic" but a certain outcome if workers continue striking.
(Excerpt) Read more at sfgate.com ...
Am I the only one who didn’t get the memo on “going Galt”? It’s called shrugging. A much better term, in my opinion.
I have not bought any overpriced Wonder Bread or Twinkies in many years.
Sad to see an icon go bankrupt.
Unions have ruined this country. China thanks them.
It seems private business is the only group willing to challenge the RATs. Seems the GOP is incapable of putting up much resistance.
“Let ‘em eat..........Ding Dongs”
Honestly, I think they should sell it off. Get rid of the unions (sorry conservative union guys who work for Hostess) and let someone new continue the name.
Perhaps then a pair of twinkies will cost less than 3 bucks.
Twinkie liquidation. If this is San Francisco, they might not be talking about what you THINK they are talking about.
Ah, so now they tell 'em....
Teachable moment for union thugs.
“Hostess didn’t build that business”
Wait a minute.... maybe they should get the jobs legislated under the Solyndra/Obama marshall plan.
Really, they should fire them all. If they’re going to go out - go out in style. Then move to a right to work State and hire people who want jobs... not sinecures.
Fortunately not all union members are completely stupid. There is a growing number here in Michigan calling for right to work. In fact, they helped vote down our two big pro union proposals.
20’th Century Confections... to paraphrase Ms. Rand.
“Honestly, I think they should sell it off.”
Agree. Let the Union buy it and show the world how to run a company.
Hostess Brands site for strike information . . .
errr ahhhh ummmm...
(darn it. now I sound like Zero)
Bronco Bummer will probably just give the laid off union thugs an illegal taxpayer funded bailout anyway.
Obama gets re-elected and wonder bread goes under...
I believe you, and note that one of the signs of loss of viability is public price resistance.
Price yourself out of the market and you're finished if ya can't lower prices.
BAWWWW.W.W.W!!!!! Sniff . . Snivel . . .
TWINKIES are NOT overpriced! - WONDER BREAD? Now that’s a different story. - Sincerely, Twinkie
Hostess brands will live on, someone will buy 'em and make 'em again.
The union workers will run out their unemployment and starve.
Aaaaaannnnnnd another clique of union thugs negotiates themselves out of their own and their members’ jobs. Keep it up.
Well... there is that..
GM.. bahh. There are other replacements.
No one has been able to copy the mix of chemicals that makes up a Twinkie.
To safely comply with labor law, liquidation is exactly what you proposed, so they heard ya.
Then the unemployed union bakers can shop here...
(when another baking co buys the brands)
Let them eat Little Debbies.
In this case it's not a matter of stones, but economic natural law, sadly.
Seems the GOP is incapable of putting up much resistance.
If they have proposed to develop solar, carbon-neutral Twinkies, they probably could have snagged a billion or two from the Obama administration. Unless Michelle got wind of it.
Come to think of it, this result may be Michelle’s doing.
The strikers want it to shut down, they think new owners will preserve their pay nd benefits.
See ya punk bakers.
Maybe Hostess will sell its name to a foreign corporation.
We’ll eat German Twinkies.
Bring Twinkie the Kid to Texas - he already has the hat, boots and lasso.
He's already a popular deep-fried entree at the state fair, too. It'd be a natural. Perry should send someone to Hostess with an attractive tax incentive package and seal the deal. Do it big and bold, too - have 'em arrive there in a '70s Caddy with longhorns on the hood.
There was a large machining company where I live that was struggling and having financial difficulties. Management asked the employees to take a 10% pay cut and a reduction in some benefits for it to continue operations. The union told management to go stuff it.
The company promptly shut its doors for good. 60 dumbasses out of a job. Of course, the union heads are still employed.
"Is... is it a motor?"
"No. It's a Twinkie maker!"
Maybe Mrs. Freshley's will buy them out. They acquired Little Debbie a while back, if I'm not mistaken.
Isn’t it sad that you need weapons to defend yourself from the government. And you’ll need guns to protect yourself from your co-workers if you don’t join the union.
I know bad things have happened before - but it seems like these things are happening too frequently. Everytime you hear the news - it's another disaster.
Maybe we lost our way as a country & these things are pay back for the way we are living now. I feel like there is a dark cloud hanging over us.
The strikers want it to close down and liqudate. Apparently they are quite open about it.
Striking workers at the Merita Bread Bakery in Orlando said Thursday they were discouraged by a light turnout of union members but hopeful that Hostess Brands Inc. would follow through with a threat to sell off its bakery operations as part of the company’s bankruptcy proceedings.
“That would be the best thing for employees,” said Ron Hopkins, vice president of the AFL-CIO’s Bakery, Confectionery, Tobacco Workers and Grain Millers International Union Local 103 in Orlando.
“We’re not asking for a raise. We just want to maintain our pay and our pension. I make less now than when I started here,” said Hopkins, a shipping clerk who has held many other positions in 26 years at the bakery.
You just made me aware that I'm not a consumer of their products either.
I still hate to see the jobs go though. Maybe they should just bust the union and move their plant to New Hampshire.
They have no bakeries in Texas, but they are headquartered in Irving TX
There is a dark cloud hanging over us.
Its initials are “BHO”.
"ya had to go messin with my TWINKIEEEES"
That MAY work for the purchase of a business, but liquidation separates all assets and voids all contracts (like the one with the union).
The union workers stand zero chance of ever working for those purchasing Hostess assets, they will be blackballed. The non union workers will likely have a good chance of future employment with the successors.
Well the reverse is also true.
The best comment I have seen today about this conflict is...
90% of what you made before is always better than 0%.
This is particularly true in a depressed economy, dealing with what is essentially unskilled labor.
Been there, done that. I have accepted up to 40% less to keep my job. It has always served me well.
Yeah, what a rotten company!!! Too bad they don't have a printing press like Obama does....then you could strike for even higher benefits.
That party could go forever, right? I'm pretty mad too. My life style has been taking a beating too & I can't get one of those money machine either!!
We need 'the one' to get out his magic wand & give us everything we want, dammit!!!
I got my memo, didn't you? Really.
Hostess has 33 plants all over the US. Likely busting the union in several states is impossible.
Bankruptcy/liquidation is the only viable option to bust all the unions.
The jobs will come back, just not union.
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