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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: FlingWingFlyer

Hostess was a the same point that we are as a nation. Hostess took the easy way out years ago and agreed to union demands that eventually were not sustainable. The nation agreed to spend to levels impossible to fund and here we are today. Congress should learn from the Hostess situation and not back down. Go over the cliff if that’s what it takes.


101 posted on 11/16/2012 6:22:04 AM PST by JIM O
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To: Sub-Driver

The the “Bakery, Confectionery, Tobacco Workers and Grain Millers International Union”, aka The Big Leech, has sucked the life out of Hostess Brands, it’s Host. Now, the upper echelon of the Big Leech are still sitting pretty while their “brothers and sisters” now face winter and Christmas without work, having to support families on Unemployment provided buy a broke Government.

I wonder how many of them 18000 voted for Obama?

Congrats Leeches!!


102 posted on 11/16/2012 6:22:31 AM PST by theDentist (FUBO; qwerty ergo typo : i type, therefore i misspelll)
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To: Sub-Driver

Hopefully one of the other big baking companies will grab Hostess’ assets, or at least the brand and recipes. My Brother-in-law works for Bimbo (yeah, yeah, let it all out...), who would be a great umbrella for a revitalized Hostess, and the best part is they can probably put the production lines in their own existing plants.


103 posted on 11/16/2012 6:22:36 AM PST by Little Pig (Vi Veri Veniversum Vivus Vici.)
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To: SueRae

The Union Bosses really don’t give a damn about the workers. They have their fat paychecks and retirement plans to fall back on.They will move on to some new racket in some new place in the union hierarchy and live life as usual. The workers will learn a lesson that they will never forget, but sadly some of them will continue to blame the company for their woes...............


104 posted on 11/16/2012 6:23:20 AM PST by Red Badger (Lincoln freed the slaves. Obama just got them ALL back......................)
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To: JIM O

I agree.


105 posted on 11/16/2012 6:24:06 AM PST by FlingWingFlyer (We need Comprehensive Election Reform, NOW!)
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To: layman

Note to all,

Remember that a Hostess’s Twinkie is not a stewardess’s beaver.


106 posted on 11/16/2012 6:24:23 AM PST by BatGuano (You don't think I'd go into combat with loose change in my pocket, do ya?)
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To: Fiji Hill
the New York World Journal Tribune newspaper
When I grew up in NY (50s/60s), their predecessors were the NY World-Telegram & Sun, the Journal-American and the Herald Tribune.
Amazing that 50 years earlier they were all independent papers.
107 posted on 11/16/2012 6:26:20 AM PST by oh8eleven (RVN '67-'68)
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To: Sub-Driver

This is FANTASTIC news! Just think how all the new food stamps will stimulate the economy! I’m sure Nancy Pelosi couldn’t be more proud.


108 posted on 11/16/2012 6:26:39 AM PST by Cato in PA (May America reap the rotten fruit of the demon seed it's sown.)
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To: CitizenUSA

Twinkies are the devil!......Devil Cake , that is!............

109 posted on 11/16/2012 6:26:39 AM PST by Red Badger (Lincoln freed the slaves. Obama just got them ALL back......................)
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To: theDentist

Probably ALL of them................


110 posted on 11/16/2012 6:28:34 AM PST by Red Badger (Lincoln freed the slaves. Obama just got them ALL back......................)
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To: Maine Mariner

Pretty sad. There were also people in the confectioners’ union that crossed the picket line.....just not enough of them to keep operations running efficiently.


111 posted on 11/16/2012 6:29:31 AM PST by Girlene
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To: Common Sense 101
try and get some money from your union bosses

Never, ever forget: The leaders of any union see as their primary responsibility -- above all else including wages, jobs, worker health and safety, benefits ... everything else -- is the preservation of the union.

These idiots would rather kill the jobs of nearly 20,000 workers than show weakness as a union. They -- and the union members who elected them -- truly deserve the economic reality they are about to face. Hard-hearted - No; True - Yes!

112 posted on 11/16/2012 6:29:31 AM PST by glennaro
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To: Sub-Driver

There's a box of Twinkies in that grocery store. Not just any box of Twinkies, the last box of Twinkies that anyone will enjoy in the whole universe. Believe it or not, Twinkies have an expiration date. Some day very soon, Life's little Twinkie gauge is gonna go... empty.

113 posted on 11/16/2012 6:31:09 AM PST by Boogieman
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To: Sub-Driver

Let the eat cup cakes!


114 posted on 11/16/2012 6:32:48 AM PST by Lockbar (Quality factory loaded ammunition ---- The New Gold)
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To: Cuttnhorse

Does Little Debbie make fruit pies?


115 posted on 11/16/2012 6:33:47 AM PST by pnz1
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To: X-spurt

That’s right. I had the same experience as yourself. I know you are right on the mark.


116 posted on 11/16/2012 6:34:54 AM PST by rockinqsranch (Dems, Libs, Socialists, call 'em what you will, they ALL have fairies livin' in their trees.)
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To: Sub-Driver

Good luck to you union B*st*r*ds. Try finding another job. You might call Obama and see if he needs 16,000 people to make twinkies at the White House.


117 posted on 11/16/2012 6:35:28 AM PST by veritas2002
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To: Sub-Driver

At least this can happen in the private sector.

What about all of the government sector unions we have now?

With the government, Management and the Union are on the same side. There’s no bankrupting the tax payer (at least in their view), and management has no reason to oppose the union on anything.

As someone on the thread has observed, unions are thuggery. I can’t imagine anything worse than Government thugs.

Fear for the Republic!


118 posted on 11/16/2012 6:37:13 AM PST by Empire_of_Liberty
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To: Sub-Driver

To all of those affected by this closure who voted for nobama & his LIB minions who lost their jobs...Bwahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahaha.


119 posted on 11/16/2012 6:38:06 AM PST by hal ogen (First Amendment or Reeducation Camp?)
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To: SuperSonic

ROFLMFAO


120 posted on 11/16/2012 6:39:13 AM PST by usconservative (When The Ballot Box No Longer Counts, The Ammunition Box Does. (What's In Your Ammo Box?))
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