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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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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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