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 ...
Enjoy your Xmas union hacks....
More food stamp recipients for Obama’s government.
This might get the attention of Layabout Nation.
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.
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.
Where my ho-hos?
How will I survive without my Hostess fruit pie in the early morning?
What a shame. I hope the union bosses enjoy the crap cupcake they just gave their rank and file..
Enjoy your Xmas union hacks....
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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.
If Obama allows it to happen...
Wonder how many of the Union thugs voted for Mr. Obama. I’m surprised Government Motors didn’t try to buy Hostess out...
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.
How will I survive without my Hostess fruit pie in the early morning?
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Creative destruction—some other, hopefully non unionized, enterprise will buy the recipe (and possibly name) and once again you’ll have your pie.
One bad apple (union) spoils the whole bunch (most workers there not union)
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
Looks like Moochelle Obama was behind this high calorie diabolical coup.
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.
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.
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).
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