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 ...
Thanks Twink!
I know what the problem is (face palm) WE AREN'T TAXING THE RICH ENOUGH. Just raise taxes that will fix everything. Why everyone knows that the government can tax us into prosperity if they just rais taxes on those who aren't paying "their fair share" Apparently the top 5% of earners paying 58% of the taxes isn't fair enough for that POS 0bama and his accomplices.
I suppose also a competing company like Little Debbie could also buy the brand names and then purposely never use them to keep a competing popular product name from challenging their own product line again...since they already have their own equivalents of things like Twinkies (Cloud Cakes), HoHos (Swiss Rolls), Ding Dongs (Cocoa Cremes), etc.
I am amazed that my own facebook “friends”, who apparently have not been paying attention to anything in the last four years, and do not care about anything else.. are taking note that there will be no more Twinkies!!!!!! WHAT??? They care about Twinkies?
Ahhhh.. now I get it. Fat, lazy and stupid is a vacation destination.
Mad enough to hit the button twice, eh, little puerile bat?
I had a “discussion” with a union truck driver.
Told him I’d never been hired by a poor man;the poor man can’t afford to hire me(or anyone else).
As long as welfare,food stamps, and LONG-term unemployment insuklate people from bad decisions they will continue stupide union strikes.
According to the strikeinfo website, apparently there are some that wanted to work, but faced $140 a day ‘fines’ from the union for crossing the picket lines.....
Does that mean I don’t get to have my traditional Twinkie after wrapping presents while watching Die Hard? Christmas is ruined.
But how will she keep her fat ass fat?
they get to cry about how unfair it is on the tv....
it IS unfair when wages stagnate and you find your income dwindling like one union guy said, but what good does it do to bankrupt the whole company?....everyone loses now...
we've lost our work ethic in this country....
once it pays more or close to it to just stay home and not work, that is what will be chosen...
Governor Christie is in meltdown.
Apparently you are pro-union, not being willing or able to see the union IS THE PROBLEM.
Gotta love unions. Well they sure showed the company didn't they? I wonder how many of those now out of work voted for 0.
Corner of JFK and W 3rd....
Another good company destroyed by greedy unions.
I don't know what your problem is good buddy But you need to get your rude belligerent head out of your backside. Let me know when you want to actually discuss something otherwise go hump someone else's leg. On second thought don't bother. There are too many other people on FR who are actually worth talking to for me to bother with you.
Boy the Union sure showed them.
Morons are out of work, 18,000 morons, but at least they sure showed them who was the boss.
Well at least the unions bosses are still working ( That’s a Joke ) as if they ever really work.
A union has been running an ad since the election on Chicago TV stations. It spews out the usual pro-union BS. Hope they continue running it so people can have the greedy union destroying Hostess running in their minds as they listen to the ad.
Mmmm, liquid Twinkies(TM), now in cans.
Love how these union members are always “sticking it to the man”. The way that actually works in real life is that “the man” is the guy working next to them on the line, or loading doc etc.
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