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Topic: Court gives Twinkies
maker go-ahead to liquidate |
Court gives Twinkies
maker go-ahead to liquidate
CBS News & Associated Press, by Staff
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Original Article
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Posted By:LittleHoodedMonk, 11/21/2012 5:09:03 PM
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| New York - Hostess Brands, the maker of Twinkies Ding Dongs and other snacks, has received approval from a bankruptcy court judge to wind down its business and sell all of its assets. The ruling came Wednesday after Hostess failed in last-ditch negotiations to end a strike by its second-largest union. (Snip) Hostess now has the green light to terminate the jobs of its 18,000 workers and sell off its brands. Hostess said it intends to keep roughly 3,200 employees on the payroll to help with the first phase in the company´s liquidation. It expects to eliminate 94 percent of its workforce over
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Comments:
Twinkies squeezed out of existence. Union members get early and extended holiday.
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Reply 1 - Posted by:
sikupnfed, 11/21/2012 5:10:50 PM (No. 9028200)
This is sad, but it is what it is.
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Reply 2 - Posted by:
sinic, 11/21/2012 5:12:41 PM (No. 9028206)
What will Twinkies made in China be called, Tellinkies?
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Reply 3 - Posted by:
BaseballFan, 11/21/2012 5:20:40 PM (No. 9028220)
FTA: In announcing the court´s decision, Hostess reiterated that its "inflated cost structure" put the company at a competitive disadvantage. It said most of those costs stemmed from collective bargaining agreements covering 15,000 of its employees.
CBA = the union´s stake through the heart of any industry.
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Reply 4 - Posted by:
tillster, 11/21/2012 5:40:00 PM (No. 9028248)
The union members were not crying on Friday bet they are weeping now. All this for 8%.
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Reply 5 - Posted by:
Keekng, 11/21/2012 5:43:11 PM (No. 9028253)
Trumka must be happy now, 18,000 people out of work. Way to go, Trumka, you sure showed them! Typical union slug.
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Reply 6 - Posted by:
kanphil, 11/21/2012 6:03:03 PM (No. 9028275)
Liquidation was inevitable. When you ain´t got no dough, you ain´t got no dough.
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Reply 7 - Posted by:
zephyrgirl, 11/21/2012 6:08:39 PM (No. 9028280)
The hedge funds involved were mostly led by Dems who were trying to prove that you could turn around union-dominated businesses. So much for that thinking.
Richard Gephardt (remember him?) was raking in lots of money as a consultant, and managed to get his son on the Hostess BOD at $100,000/year.
Couldn´t happen to a nicer bunch.
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Reply 8 - Posted by:
mominNoCA, 11/21/2012 6:30:05 PM (No. 9028312)
Little Debbie makes good cakes. I love their Banana Twin cakes. They taste like Twinkies with banana flavoring. Their Swiss Rolls are as good as Ho Hos. Little Debbie´s always been cheaper as well.
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Reply 9 - Posted by:
red1066, 11/21/2012 6:57:34 PM (No. 9028352)
Tastycakes are still the best, but what happened to the union leaches here is what should have happened to the union leaches at GM.
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Reply 10 - Posted by:
Envirodude, 11/21/2012 7:23:28 PM (No. 9028375)
The left blame the million dollar raises of the CEO and board of directors. Gotta love liberal logic
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Reply 11 - Posted by:
Jiobaobubai, 11/21/2012 7:34:21 PM (No. 9028386)
So many chickens coming home.
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Reply 12 - Posted by:
Rivetjoint, 11/21/2012 9:06:23 PM (No. 9028507)
Don´t forget, #10, that Tastykake has itself been on the financial ropes as well. They´re a Philly institution and I seem to recall they were bailed out by Philly and/or Pensylvania. I´m sure someone here knows the full story.
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Reply 13 - Posted by:
LanieLou, 11/21/2012 10:12:09 PM (No. 9028595)
Quick! Some bakery in a Right to Work state needs to snap up the brand names & recipes... only... and start mfg them here in Free states.
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Reply 14 - Posted by:
Wetlandz, 11/21/2012 11:43:00 PM (No. 9028708)
Good one #9
I shed not a tear for these 18,500. I want unions abolished.
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Reply 15 - Posted by:
beamer, 11/22/2012 5:26:08 AM (No. 9028842)
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Reply 16 - Posted by:
ROLFnader, 11/22/2012 8:54:12 AM (No. 9029036)
If you encounter some SEIGoonian members littering and loitering near the entrance to your local WalMart, be sure to remind them of how much their brethren ´helped´ the 18,000+ Hostess workers.
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