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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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