Say goodbye to Twinkies (3 Viewers)

[Semper]

Way to go unions, no more Twinkies, Ho-Ho's or Wonderbread...

North Texas-based Hostess Brands, Inc. has decided to go out of business and liquidate its assets after failing to win back striking workers.

Hostess going out of business; nearly 18,000 to be laid off - Dallas News | myFOXdfw.com

Hostess also reduced its pension obligations and its contribution to the employees' health care plan. In exchange, the company offered concessions, including a 25% equity stake for workers and the inclusion of two union representatives on an eight-member board of directors.
http://money.cnn.com/2012/11/16/news/companies/hostess-closing/

 

[DesertKajun]

Man, now I am like the guy on zombieland I am gonna eat a few last twinkies lol. I am sure some other bakery will pick up the brand and recipe, but unions show they continue to kill jobs over greed. The sit back and think the owner is making too much money and want more. My guess they will be made in Mexico now.

 

[gboudx]

In an article I read, they will probably sell the assets and operations to a bidder at auction. So Twinkies will remain, but probably under a different brand. No more Hostess Twinkies, but perhaps, Bimbo Twinkies, or Mrs. Bairds Twinkies or Little Debbie Twinkies.

 

[Semper]

18,500 workers and only 1/3rd of them were union...

 

[staphory]

Way to go unions, no more Twinkies, Ho-Ho's or Wonderbread...

North Texas-based Hostess Brands, Inc. has decided to go out of business and liquidate its assets after failing to win back striking workers.

Hostess going out of business; nearly 18,000 to be laid off - Dallas News | myFOXdfw.com

Hostess also reduced its pension obligations and its contribution to the employees' health care plan. In exchange, the company offered concessions, including a 25% equity stake for workers and the inclusion of two union representatives on an eight-member board of directors.
Hostess Brands closing for good due to bakers strike - Nov. 16, 2012

Had to take a shot at the union. Interesting that you left out the the part where that had to accept an 8% pay cut as well as reduced benefits and no company contributions to the retirement plan for 2 years. Would you want a 25% stake in a company coming off its second bankruptcy? Present management has proven that they don't know what they are doing when that happens. This just accelerated the inevitable. Don't assume that union bakers make a lot either. There are some near me that make $12.00/hr and work 60 hrs a week.

 

[SaintStephen]

Had to take a shot at the union. Interesting that you left out the the part where that had to accept an 8% pay cut as well as reduced benefits and no company contributions to the retirement plan for 2 years. Would you want a 25% stake in a company coming off its second bankruptcy? Present management has proven that they don't know what they are doing when that happens. This just accelerated the inevitable. Don't assume that union bakers make a lot either. There are some near me that make $12.00/hr and work 60 hrs a week.

Yeah! I'd rather just be unemployed than take that. Especially since you can get another job anywhere right now..../sarcasm off

 

[DesertKajun]

Yeah! I'd rather just be unemployed than take that. Especially since you can get another job anywhere right now..../sarcasm off

+1 their logic overwhelms me. No job and welfare is far better then an 8% cut and maybe have no cable TV......

 

[Semper]

Had to take a shot at the union. Interesting that you left out the the part where that had to accept an 8% pay cut as well as reduced benefits and no company contributions to the retirement plan for 2 years. Would you want a 25% stake in a company coming off its second bankruptcy? Present management has proven that they don't know what they are doing when that happens. This just accelerated the inevitable. Don't assume that union bakers make a lot either. There are some near me that make $12.00/hr and work 60 hrs a week.

Then quit. There is no interesting part at all about it. They were greedy and wanted more. This is the problem people only care about themselves. Hard times are here and people need to understand instead of what is happening. My wife took a pay cut and someone else's job to keep hers. Yes she is doing 2 jobs at 10% less than what she was making before.

 

[Semper]

And I have no issue taking shots at unions. I have a good friend and a neighbor losing union jobs right now. One of them because he is the least senior person left, and one of the hardest working people I know. He spent 15 years there, come tell him how great unions are for him.

 

[Charlie Brizzown]

How can y'all argue about unions at a time like this ... twinkies are gone!

 

[Semper]

And I'd rather not make this about politics since I don't want this going to the politics board. This is about unions so please stay on topic.

 

[chad141fa]

So in laymen terms we have a company that is struggling. Some of the employees are unionized and do not agree with the company / owner making a business decision to keep THEIR company afloat. The company / owner said “ Look we have to do this or will not be able to stay in business.” The union says NOOO, You MUST do this or else. The Owner says “***, I am done with this nonsense; fine I will just close this headache and retire, besides I am set. Kind of like when you are a kid in YOUR parents house and you try telling them what you want them to do. “My house , my rules, when you pay the bills than you can make the decisions. If you don’t like it, find a place of your own and leave.” Everyone has had this conversation with their parents. None of us left because it was better under their rules then out on the street.

 

[SWJJ]

this thread is full of ignorance. The hostess Brand has been troubled for years. They filed banruptcy back in '04. Hostess paid 330 mm to acquire Continental Baking Company, and gobbled up a couple of other smaller competetors in the mid 90's.

This exausted their cash reserves at a time when the Atkins Diet was gaining popularity, and Krispy Kreme was expanding.

Ultimately business decisions made in the 90's caused the 2004 bankruptcy and this eventual fire sale.

Blaming the 1/3 of the workers that are union for the door closing is short sighted and ignorant.

and also not surprising from the posters doing it.

 

[Mr. Sparkle]

First, they came for the Big Gulps, and I didn't speak out, because soda makes me gassy.

Then, they came for the Twinkies..

 

[OhioSaintsFan]

Bummer, even though I don't care for twinkies.