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Hostess says liquidation decision expected Friday (Going Galt)
San Francisco Chronicle ^ | November 15, 2012 | AP

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.

Snip

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 ...


TOPICS: Business/Economy; Culture/Society; News/Current Events
KEYWORDS: bankrupt; closing; galt; hohos; hostess; liquidation; twinkies; union
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Economic law is natural law, and will have it's way in spite of stubborn union thugs and imperial socialist politicians dictates.
1 posted on 11/15/2012 4:35:52 PM PST by Navy Patriot
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To: Navy Patriot

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.


2 posted on 11/15/2012 4:37:50 PM PST by Tublecane
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To: Navy Patriot

I have not bought any overpriced Wonder Bread or Twinkies in many years.


3 posted on 11/15/2012 4:39:19 PM PST by iowamark
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To: Navy Patriot

Sad to see an icon go bankrupt.

Not surprising.

Unions have ruined this country. China thanks them.


4 posted on 11/15/2012 4:39:30 PM PST by RummyChick
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To: Navy Patriot

It seems private business is the only group willing to challenge the RATs. Seems the GOP is incapable of putting up much resistance.


5 posted on 11/15/2012 4:39:41 PM PST by CatOwner
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To: CatOwner

“Let ‘em eat..........Ding Dongs”


6 posted on 11/15/2012 4:41:32 PM PST by radioone
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To: iowamark

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.


7 posted on 11/15/2012 4:41:45 PM PST by cableguymn (The founding fathers would be shooting by now..)
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To: Navy Patriot

Twinkie liquidation. If this is San Francisco, they might not be talking about what you THINK they are talking about.


8 posted on 11/15/2012 4:43:31 PM PST by fhayek
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To: Navy Patriot
....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.....

Ah, so now they tell 'em....
fools...

9 posted on 11/15/2012 4:44:05 PM PST by libertarian27 (Check my profile page for the FReeper Online Cookbook 2011)
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To: Navy Patriot
I honestly hope they shut it down.

Teachable moment for union thugs.

10 posted on 11/15/2012 4:44:21 PM PST by elkfersupper ( Member of the Original Defiant Class)
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To: Navy Patriot

“Hostess didn’t build that business”

Wait a minute.... maybe they should get the jobs legislated under the Solyndra/Obama marshall plan.


11 posted on 11/15/2012 4:44:31 PM PST by himno hero (hadnuff)
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To: Navy Patriot

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.


12 posted on 11/15/2012 4:44:47 PM PST by GOPJ (Petraeus confession: like something from a 'Soviet purge trial'....)
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To: RummyChick

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.


13 posted on 11/15/2012 4:45:23 PM PST by cripplecreek (REMEMBER THE RIVER RAISIN!)
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To: Navy Patriot

20’th Century Confections... to paraphrase Ms. Rand.


14 posted on 11/15/2012 4:45:25 PM PST by SpaceBar
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To: cableguymn

“Honestly, I think they should sell it off.”

Agree. Let the Union buy it and show the world how to run a company.


15 posted on 11/15/2012 4:47:26 PM PST by Soul of the South
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Hostess Brands site for strike information . . .

http://www.hostessstrike.info/


16 posted on 11/15/2012 4:47:41 PM PST by deks ("...the battle of our time is...liberty against the overreach of the federal government" Cuccinelli)
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To: Tublecane
You have posted this comment a tiring number of times. If it's that important to you to call it "shrugging" then by golly you should just go ahead and call it that. sheesh.
17 posted on 11/15/2012 4:49:02 PM PST by hinckley buzzard
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To: Soul of the South

Like GM!!

errr ahhhh ummmm...

(darn it. now I sound like Zero)


18 posted on 11/15/2012 4:49:13 PM PST by cableguymn (The founding fathers would be shooting by now..)
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To: Navy Patriot

Bronco Bummer will probably just give the laid off union thugs an illegal taxpayer funded bailout anyway.


19 posted on 11/15/2012 4:49:40 PM PST by jpl (The government spent another half a million bucks in the time it just took you to read this tagline.)
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To: Navy Patriot

Obama gets re-elected and wonder bread goes under...

coincidence?


20 posted on 11/15/2012 4:50:24 PM PST by TexasFreeper2009 (Obama lied .. the economy died.)
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To: iowamark
I have not bought any overpriced Wonder Bread or Twinkies in many years.

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.

21 posted on 11/15/2012 4:51:00 PM PST by Navy Patriot (Join the Democrats, it's not Fascism when WE do it, and the Constitution and law mean what WE say.)
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To: iowamark

BAWWWW.W.W.W!!!!! Sniff . . Snivel . . .

TWINKIES are NOT overpriced! - WONDER BREAD? Now that’s a different story. - Sincerely, Twinkie


22 posted on 11/15/2012 4:52:49 PM PST by Twinkie (Do unto others as you would have them do unto you.)
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To: Navy Patriot
They have been suffering in the market for years. This is their Second bankruptcy within a decade.
23 posted on 11/15/2012 4:54:08 PM PST by Theoria (Romney is a Pyrrhic victory.)
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To: cableguymn
Like GM!!

Too yummy to fail?
24 posted on 11/15/2012 4:54:18 PM PST by SpaceBar
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To: RummyChick
Sad to see an icon go bankrupt.

Hostess brands will live on, someone will buy 'em and make 'em again.

The union workers will run out their unemployment and starve.

25 posted on 11/15/2012 4:54:31 PM PST by Navy Patriot (Join the Democrats, it's not Fascism when WE do it, and the Constitution and law mean what WE say.)
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To: Navy Patriot

Aaaaaannnnnnd another clique of union thugs negotiates themselves out of their own and their members’ jobs. Keep it up.


26 posted on 11/15/2012 4:55:15 PM PST by Noumenon (As long as you have a rifle, you STILL have a vote.)
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To: SpaceBar

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.


27 posted on 11/15/2012 4:56:53 PM PST by cableguymn (The founding fathers would be shooting by now..)
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To: GOPJ
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.

To safely comply with labor law, liquidation is exactly what you proposed, so they heard ya.

28 posted on 11/15/2012 4:58:30 PM PST by Navy Patriot (Join the Democrats, it's not Fascism when WE do it, and the Constitution and law mean what WE say.)
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To: Navy Patriot
The union workers will run out their unemployment and starve.

Then the unemployed union bakers can shop here...
(when another baking co buys the brands)

29 posted on 11/15/2012 4:59:20 PM PST by libertarian27 (Check my profile page for the FReeper Online Cookbook 2011)
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To: radioone; CatOwner

Let them eat Little Debbies.


30 posted on 11/15/2012 4:59:47 PM PST by GreyFriar (Spearhead - 3rd Armored Division 75-78 & 83-87)
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To: CatOwner
It seems private business is the only group willing to challenge the RATs.

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.

True, that.

31 posted on 11/15/2012 5:04:14 PM PST by Navy Patriot (Join the Democrats, it's not Fascism when WE do it, and the Constitution and law mean what WE say.)
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To: himno hero

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.


32 posted on 11/15/2012 5:04:41 PM PST by AZLiberty (No tag today.)
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To: Navy Patriot

The strikers want it to shut down, they think new owners will preserve their pay nd benefits.

Seriously.


33 posted on 11/15/2012 5:04:41 PM PST by GeronL (http://asspos.blogspot.com)
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To: Navy Patriot

See ya punk bakers.

Maybe Hostess will sell its name to a foreign corporation.

We’ll eat German Twinkies.


34 posted on 11/15/2012 5:05:12 PM PST by SoFloFreeper
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To: GOPJ
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.

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.

35 posted on 11/15/2012 5:05:12 PM PST by Charles Martel (Endeavor to persevere...)
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To: Noumenon

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.


36 posted on 11/15/2012 5:05:34 PM PST by reagan_fanatic (You are not now, and will never be my President, Mr. Obama.)
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To: SpaceBar
20’th Century Confections... to paraphrase Ms. Rand.

"Is... is it a motor?"
"No. It's a Twinkie maker!"

37 posted on 11/15/2012 5:06:47 PM PST by Flick Lives (We're going to be just like the old Soviet Union, but with free cell phones!)
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To: cableguymn
Honestly, I think they should sell it off.

Maybe Mrs. Freshley's will buy them out. They acquired Little Debbie a while back, if I'm not mistaken.

38 posted on 11/15/2012 5:07:51 PM PST by Mr Ramsbotham (Laws against sodomy are honored in the breech.)
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To: cripplecreek

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.


39 posted on 11/15/2012 5:08:01 PM PST by Terry Mross (I haven't watched the news since the election. Someone ping me if anything big happens.)
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To: Navy Patriot
Since Obama has been president, so many terrible things are happening in our country. So many layoffs, the super storm, the wounded warriors killed in a train wreck, the sex scandals making our military look so bad & so many other things too numerous to list.

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.

40 posted on 11/15/2012 5:11:04 PM PST by LADY J (You never know how strong you are until being strong is the only choice you have. - Author Unknown)
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To: libertarian27

The strikers want it to close down and liqudate. Apparently they are quite open about it.

http://www.orlandosentinel.com/business/os-merita-orlando-picketers-demands-20121115,0,3198771.story

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.


41 posted on 11/15/2012 5:11:24 PM PST by GeronL (http://asspos.blogspot.com)
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To: iowamark
I have not bought any overpriced Wonder Bread or Twinkies in many years.

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.

42 posted on 11/15/2012 5:14:44 PM PST by ROCKLOBSTER (Celebrate "Republicans Freed the Slaves" Month)
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To: Charles Martel

They have no bakeries in Texas, but they are headquartered in Irving TX


43 posted on 11/15/2012 5:15:00 PM PST by GeronL (http://asspos.blogspot.com)
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To: LADY J

There is a dark cloud hanging over us.

Its initials are “BHO”.


44 posted on 11/15/2012 5:15:28 PM PST by DuncanWaring (The Lord uses the good ones; the bad ones use the Lord.)
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To: RummyChick

"ya had to go messin with my TWINKIEEEES"

45 posted on 11/15/2012 5:17:23 PM PST by Doogle ((USAF.68-73..8th TFW Ubon Thailand..never store a threat you should have eliminated))
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To: GeronL
The strikers want it to shut down, they think new owners will preserve their pay and benefits.

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.

46 posted on 11/15/2012 5:19:16 PM PST by Navy Patriot (Join the Democrats, it's not Fascism when WE do it, and the Constitution and law mean what WE say.)
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To: Navy Patriot
Hostess says liquidation decision expected Friday (Going Galt)

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.

47 posted on 11/15/2012 5:20:13 PM PST by publius911 (Formerly Publius 6961, formerly jennsdad)
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To: GeronL
“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."

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!!!

48 posted on 11/15/2012 5:22:43 PM PST by LADY J (You never know how strong you are until being strong is the only choice you have. - Author Unknown)
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To: Tublecane
Am I the only one who didn’t get the memo on “going Galt”?

I got my memo, didn't you? Really.

49 posted on 11/15/2012 5:25:02 PM PST by Wingy (Don't blame me. I voted for the chick. I hope to do so again.)
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To: ROCKLOBSTER
I still hate to see the jobs go though. Maybe they should just bust the union and move their plant to New Hampshire.

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.

50 posted on 11/15/2012 5:25:50 PM PST by Navy Patriot (Join the Democrats, it's not Fascism when WE do it, and the Constitution and law mean what WE say.)
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