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The Demise Of The Twinkie: Hostess Files Motion To Liquidate
Wall Street Journal ^

Posted on 11/16/2012 5:13:37 AM PST by Sub-Driver

The Demise Of The Twinkie: Hostess Files Motion To Liquidate

By Tom Gara

And that’s that: Hostess Brands, maker of Twinkies, Wonder Bread and more, announced this morning it has filed a motion with bankruptcy court to start liquidating the company immediately. A huge number of jobs are soon to be lost.

“Hostess Brands will move promptly to lay off most of its 18,500-member workforce,” said CEO Gregory F. Rayburn in the statement, “and focus on selling its assets to the highest bidders.”

In a letter posted on a new site set up to communicate with employees and suppliers through the liquidation process, Mr. Rayburn pinned the blame on its striking union:

Despite everyone’s considerable efforts to move Hostess out of its restructuring, when we began implementing the Company’s last, best and final offer, the Bakers Union chose to stage a crippling strike. This affected Hostess’ ability to continue to make products and service its customers’ needs and pushed Hostess into a Wind Down scenario. As a result, we are forced to proceed with an orderly wind down and sale of our operations and assets. We deeply regret taking this action. But we simply cannot continue to operate without the ability to produce or deliver our products.

There’s no way to soften the fact that this will hurt every Hostess Brands employee. All Hostess Brands employees will eventually lose their jobs – some sooner than others. Unfortunately, because we are in bankruptcy, there are severe limits on the assistance the Company can offer you at this time.

(Excerpt) Read more at blogs.wsj.com ...


TOPICS: Breaking News; Business/Economy; News/Current Events
KEYWORDS: 2012; bakery; bankruptcy; bhoeconomy; bholayoffs; bustunions; democrats; dingdongunion; economy; fuunions; hostess; layoffs; obama; obamanomics; obamasized; obamasizing; ownit; twinkies; unemployment; unioncorruption; uniongreed; unions
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1 posted on 11/16/2012 5:13:42 AM PST by Sub-Driver
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To: Sub-Driver

Enjoy your Xmas union hacks....


2 posted on 11/16/2012 5:14:57 AM PST by qwerty1234
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To: Sub-Driver

More food stamp recipients for Obama’s government.


3 posted on 11/16/2012 5:15:17 AM PST by txrefugee
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To: Sub-Driver

This might get the attention of Layabout Nation.


4 posted on 11/16/2012 5:16:02 AM PST by St_Thomas_Aquinas (Viva Christo Rey!)
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To: Sub-Driver

Hopefully soon to be followed by many, many, many more companies saying, “Dealing with the union is not worth it, you can all go take a hike” and teaching them that elections and actions have consequences.


5 posted on 11/16/2012 5:17:20 AM PST by Spktyr (Overwhelmingly superior firepower and the willingness to use it is the only proven peace solution.)
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To: Sub-Driver

This makes me furious. Why should the workers control this situation? If they don’t want to work for the company, if they don’t like the terms of employment, no problem. There are numerous others who would be thrilled to take those jobs. Unions are are thuggery.


6 posted on 11/16/2012 5:17:45 AM PST by all the best (`~!)
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To: St_Thomas_Aquinas

Where my ho-hos?


7 posted on 11/16/2012 5:17:55 AM PST by gemoftheocean (...geez, this all seems so straight forward and logical to me...)
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To: Sub-Driver

How will I survive without my Hostess fruit pie in the early morning?


8 posted on 11/16/2012 5:18:26 AM PST by Cuttnhorse
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To: Sub-Driver

What a shame. I hope the union bosses enjoy the crap cupcake they just gave their rank and file..


9 posted on 11/16/2012 5:18:43 AM PST by SueRae (It isn't over. In God We Trust.)
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To: qwerty1234

Enjoy your Xmas union hacks....
*******************************************************************
The union members whose greed gave birth to this destruction deserve this. I hope they gain the undying enmity of the non-union members whose jobs they took down with them.


10 posted on 11/16/2012 5:19:16 AM PST by House Atreides
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To: Sub-Driver

If Obama allows it to happen...


11 posted on 11/16/2012 5:19:49 AM PST by ltc8k6
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To: Sub-Driver

Wonder how many of the Union thugs voted for Mr. Obama. I’m surprised Government Motors didn’t try to buy Hostess out...


12 posted on 11/16/2012 5:19:57 AM PST by rovenstinez
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To: all the best

The best part is that it’s about 5000 union workers who have ruined it for the remainder of Hostess’ 18,000 workers. You’d think the union goons might not realize the thing about the golden goose, but you’d also think that the rest of the employees would be screaming at the unionists to not do this.

Oh well. Hope they enjoy their unemployed Thanksgiving and Christmas.


13 posted on 11/16/2012 5:20:36 AM PST by Spktyr (Overwhelmingly superior firepower and the willingness to use it is the only proven peace solution.)
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To: Cuttnhorse

How will I survive without my Hostess fruit pie in the early morning?
********************************************************************
Creative destruction—some other, hopefully non unionized, enterprise will buy the recipe (and possibly name) and once again you’ll have your pie.


14 posted on 11/16/2012 5:21:33 AM PST by House Atreides
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To: Sub-Driver

One bad apple (union) spoils the whole bunch (most workers there not union)


15 posted on 11/16/2012 5:21:40 AM PST by libertarian27 (Check my profile page for the FReeper Online Cookbook 2011)
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To: Sub-Driver

Sounds like the company is taking the easy way out, paved by POTUS, offering full government assistance, food stamps, free phones, and of course the government will pay your rent, mortgage and your car payment too. We have lots of “folks” working out there, they got your backs. BARF


16 posted on 11/16/2012 5:22:45 AM PST by conservative_cyclist (You get what you vote for peopel!)
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To: Sub-Driver

Looks like Moochelle Obama was behind this high calorie diabolical coup.


17 posted on 11/16/2012 5:23:26 AM PST by NY Cajun
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To: Sub-Driver

In the union world, that’s called STICKING IT TO THE MAN !!!

I’m sure they’re all very proud of themselves now, and the union-apologists on this site are PROUD of them to.


18 posted on 11/16/2012 5:23:34 AM PST by BobL (You can live each day only once. You can waste a few, but don't waste too many.)
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To: Cuttnhorse

Holy crap! How long a shelf life on Zingers? I better stock up today before the supply chain runs out.

Let’s see. Company is in bankruptcy so now is probably a great time to go on strike cause you have them over the barrel. NOT! Merry Christmas union pukes. I’m sure your hero uncle obie will pay for your kids Christmas presents. Meanwhile your union bosses are doing just fine on your dues.

Helping keep mankind warm for 65 years.


19 posted on 11/16/2012 5:25:14 AM PST by rktman
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To: Sub-Driver

Michelle Obama will probably rejoice now that Twinkies are gone. And the union has a chance to buy the factory and run it in a way that, to them, is right!

Victory all around (except for all the out of work frosting squeezers).


20 posted on 11/16/2012 5:25:14 AM PST by DBrow
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To: gemoftheocean
Tallahassee: [discovers Hostess truck filled with Sno-Balls] Sno-Balls? Sno-Balls? SNO-BALLS? Where's the @#$%ing Twinkies -- ?!?

Columbus: I love Sno-Balls.

Tallahassee: I hate coconut. Not the taste, consistency.

Columbus: [eats a Sno-Ball] Fresh.

Tallahassee: [grimly] Oh, this Twinkie thing. It ain't over yet.

-- Zombieland (2009)

21 posted on 11/16/2012 5:25:19 AM PST by KentTrappedInLiberalSeattle ("If you're not fiscally AND socially conservative, you're not conservative!" - Jim Robinson, 9-1-10)
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To: Sub-Driver

Misery enjoys company.

I can give up Twinkies knowing that some percentage of liberals will also lose out.

And this will be replayed again and again, America will shut down, states will secede and parents will remove their children from the liberal schools.

The LGBT can sing and dance that the won a battle and Obama is their spiritual leader, well nothing lasts forever.

War is here, the makers are shutting down, now who you gonna call to complain to?


22 posted on 11/16/2012 5:27:41 AM PST by Eye of Unk
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To: all the best

Ding ding ding... Winner.


23 posted on 11/16/2012 5:28:08 AM PST by EQAndyBuzz (The goal is to equalize outcomes based on race without regard for performance or merit.)
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To: Sub-Driver

I wonder how much collateral damage this will cause.


24 posted on 11/16/2012 5:28:18 AM PST by Bloodclot
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To: Sub-Driver
Another collection of union workers buys their union line:

"They'll never close; they're just bluffing".

The Ding Dongs learned nothing from PATCO.

25 posted on 11/16/2012 5:28:56 AM PST by JPG (Stay strong.)
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To: Sub-Driver

Heard some union nimrod on the radio stating that the company was asking them to make “excessive” concessions that would result in lower wages and fewer workers... so what do the nimrods have now? No wages and no workers... nice work, idiots. Once you morons start getting hungry, try and get some money from your union bosses.

Either that, or hope that the pencil-necked, limp-wristed Marxist-in-Chief will determine that a Twinkie bail out is required.


26 posted on 11/16/2012 5:29:32 AM PST by Common Sense 101 (Hey libs... If your theories fly in the face of reality, it's not reality that's wrong.)
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To: Sub-Driver

I’m 57 and can’t believe this crap, the unions can go to hell...


27 posted on 11/16/2012 5:30:09 AM PST by Doofer (Still, a man hears what he wants to hear and disregards the rest.)
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To: Sub-Driver

We thought Twinkies would be the one food still around at TEOTWAWKI, but even Hostess cannot survive Obama.


28 posted on 11/16/2012 5:30:26 AM PST by Pollster1 (Freedom is never more than one generation away from extinction. - Ronald Reagan)
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To: Sub-Driver

Atlas just shrugged in yo’ faces, union beyotches!


29 posted on 11/16/2012 5:30:49 AM PST by bolobaby
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To: Sub-Driver; ding_dong_daddy_from_dumas; DoughtyOne; Gilbo_3; Impy; stephenjohnbanker; NFHale; ...
RE :”And that’s that: Hostess Brands, maker of Twinkies, Wonder Bread and more, announced this morning it has filed a motion with bankruptcy court to start liquidating the company immediately. A huge number of jobs are soon to be lost.
“Hostess Brands will move promptly to lay off most of its 18,500-member workforce,” said CEO Gregory F. Rayburn in the statement, “and focus on selling its assets to the highest bidders.”

Showcase example for Republicans. The union rejected the court's bankruptcy decision to let Hostess cut salaries to save the plant and the union went on strike to close their own plant and kill all their own jobs.

They chose welfare and food stamps over jobs.

30 posted on 11/16/2012 5:31:03 AM PST by sickoflibs (How long before cry-Bohner caves to O again? They took the House for what?)
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To: Sub-Driver

looks like Litle Debbie Snack Foods will take off anymore. Twinkies, Ho Hos, Ding Dongs are going going soon to be gone. Just look at the names Twinkies, Ho Hos and Ding Dongs - the end of liberalism will ensue soon. Political correctness is on the way out with giving into the ending of the LBGT agenda.

Unforunately in bankruptcy someone might buy the names and product rights but the distribution will never be nationwide.

The demise of the unions is not long. Might be wishful thinking on my part.


31 posted on 11/16/2012 5:31:37 AM PST by hondact200 (Candor dat viribos alas (sincerity gives wings to strength) and Nil desperandum (never despair))
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To: Bloodclot

Well’ the suppliers to Hostess will probably have to let go of a few employees. And since the will not be paid, there might be an immediate impact n payroll and benefits.


32 posted on 11/16/2012 5:32:08 AM PST by EQAndyBuzz (The goal is to equalize outcomes based on race without regard for performance or merit.)
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To: Sub-Driver

Stupid union dunces.... You really showed them didn’t you?


33 posted on 11/16/2012 5:32:59 AM PST by catfish1957 (My dream for hope and change is to see the punk POTUS in prison for treason)
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To: all the best

LOL!

34 posted on 11/16/2012 5:32:59 AM PST by bolobaby
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To: Common Sense 101
The TRUE minimum wage has JUST been discovered! LOL!


35 posted on 11/16/2012 5:34:14 AM PST by bolobaby
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To: Spktyr

Seems an apt microcosm of the American Public. A smaller amount ruining it for the rest of us.


36 posted on 11/16/2012 5:34:51 AM PST by SueRae (It isn't over. In God We Trust.)
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To: Sub-Driver

Obama lied ... Twinkie died.


37 posted on 11/16/2012 5:35:10 AM PST by SuperSonic (If I had a dog it would look like the one Obama ate!)
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To: Sub-Driver

What good does it do to legalize pot if there won’t be any more Twinkies ? That’s wrong ... that’s just wrong.


38 posted on 11/16/2012 5:35:18 AM PST by layman (Card Carrying Infidel)
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To: bolobaby

Heh heh - you beat me to it! Who is John Galt?


39 posted on 11/16/2012 5:36:17 AM PST by COBOL2Java (The GOP-e said "Beat a Marxist with a Liberal!" What a colossal blunder.)
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To: JPG

I assume they will sell the brand names and recipes along with the other things they are selling.

In fact, they could sell it all - lock,stock,and barrel - to a single new owner, who could then as XYZ Corp sell Hostess Twinkies, HoHo’s, etc.

And they could have a non-union shop.

It’s such a popular, well-liked brand that that’s what I expect to happen.


40 posted on 11/16/2012 5:36:18 AM PST by xzins (Retired Army Chaplain and Proud of It! True supporters of our troops pray for their victory!)
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To: all the best

Oh don’t worry. Others will. They will sell the brands to other companies who will then hire non-union bakers who will then make a better Twinkie for less with happier workers and more satisfied customers.


41 posted on 11/16/2012 5:36:31 AM PST by Uncle Chip
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To: Sub-Driver

I’m sure leftists and statists (I repeat myself) like Bloomberg are thrilled by the demise of Hostess. Given time, they would have regulated such non-nutritious snacks out of existence anyway. Twinkies are the devil!


42 posted on 11/16/2012 5:36:38 AM PST by CitizenUSA (Why celebrate evil? Evil is easy. Good is the goal worth striving for.)
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To: Sub-Driver
Despite everyone’s considerable efforts to move Hostess out of its restructuring, when we began implementing the Company’s last, best and final offer, the Bakers Union chose to stage a crippling strike.

This kind of crap happens a lot. Hawaiians - arguably the laziest state in the US - did something like this in the early 90s. At that time sugar was under intense international pressure. The main sugar refinery on the south end of the big island opened it's books to the workers and showed them that if they didn't take a pay cut the company would go under. The workers voted NOT to take a pay cut. The company shut down. The workers lost their jobs and went on welfare. Did they learn anything? The answer was a resounding "NO."

A consortium of investors - mostly Japanese - bought a lot of shore property with the intent of making the southeast side of the big island like the hotel zone on Maui. This would have provided lots of well paying jobs. Did the Hawaiians want that? Hell no. They got their lawyers out and blocked the development claiming that it would interfere with their "native values" The investors lost their money, and the lazy aholes are still sitting around on the dole.

As long as you pay people to do nothing, that's what they're going to do.

43 posted on 11/16/2012 5:36:38 AM PST by from occupied ga (Your government is your most dangerous enemy)
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To: bolobaby
Atlas just shrugged in yo’ faces, union beyotches!

I notice you don't appear to have a sig line.

That should change. ;)

44 posted on 11/16/2012 5:37:21 AM PST by KentTrappedInLiberalSeattle ("If you're not fiscally AND socially conservative, you're not conservative!" - Jim Robinson, 9-1-10)
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To: Sub-Driver

Obamanation Communism File.


45 posted on 11/16/2012 5:37:36 AM PST by Graewoulf ((Traitor John Roberts' Obama"care" violates Sherman Anti-Trust Law, AND the U.S. Constitution.))
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To: Sub-Driver

This is no fun, where’s that union-apologist from Central Virginia that always seems to pop up when we’re going after unions in the abstract?

I guess he doesn’t have much to say when they cause nearly 20,000 people to lose their jobs in one move.


46 posted on 11/16/2012 5:38:35 AM PST by BobL (You can live each day only once. You can waste a few, but don't waste too many.)
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To: Doofer

I’m 68 and I certainly don’t envy you because you are eleven years younger. Sometimes I wish I had been born twenty years earlier.


47 posted on 11/16/2012 5:38:35 AM PST by RipSawyer
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To: xzins
It’s such a popular, well-liked brand that that’s what I expect to happen.

Apparently not popular enough to stay in business. They were doing something wrong.

48 posted on 11/16/2012 5:38:54 AM PST by from occupied ga (Your government is your most dangerous enemy)
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To: Sub-Driver

49 posted on 11/16/2012 5:39:07 AM PST by COBOL2Java (The GOP-e said "Beat a Marxist with a Liberal!" What a colossal blunder.)
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To: Sub-Driver

Hey, the union bosses will get their Christmas bonuses - that’s all they’ve ever cared about...


50 posted on 11/16/2012 5:39:16 AM PST by IMTOFT (At least I'm enjoying the ride...)
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