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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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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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