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Hostess, maker of Twinkies and Ding Dongs, says closing business

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posted on Nov, 16 2012 @ 04:11 PM
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reply to post by jacobe001
 


I have no problem with someone making millions but my point is when a company is in deep trouble it makes no sense for someone to still be making millions.




posted on Nov, 16 2012 @ 04:11 PM
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That about sums it up.
The ones profiting from the misfortune of those in this Global Economy are the Wall Street Pirates that only know how to take and take and take from the profitability and productiveness of the American Workers and Companies, who produce absolutely nothing except exotic ways to steal even more.

The day Wall Street dies will be a day to celebrate!


Originally posted by nixie_nox


reply to post by CranialSponge
 


Bull.

Companies are making more money then ever. They are sitting on their investments, like a dragon on a pile of gold, instead of investing in employees or the company.

My stbxh works for Advance Auto Parts, despite record income for the past two years, they have cut positions, cut employee hours, and cut bonuses.

Instead of people readily accepting the rhetoric that these companies can't afford to pay people, they need to see where the money is actually going, and it is usually to a few guys named "shareholders".



posted on Nov, 16 2012 @ 04:12 PM
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reply to post by jacobe001
 


Yeah Yeah I'd love to see an American work for Chinese wages.

Oh yeah that's right they wouldn't



posted on Nov, 16 2012 @ 04:13 PM
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Aside from 18,000 workers losing their jobs right at the holiday season, which really stinks, there are a few things about this that don't "add up". Namely this:


seeking permission to close its business and sell its assets, including 33 bakeries and 565 distribution centers.


That's roughly 17 DC's.................per bakery.

Over ten per state..........on average.

That's not an asset. That's a liability.

Are the DC's that small?

Do they moonlight as drop shippers to warrant that many?

Do they really produce that much?

Is the shelf life really that long? (EWWWW)

I've heard of producing more then your projected sales, but that's ridiculous and,really, should be unheard of in the food industry.

Are the people in charge of transportation and scheduling really that inept?

From a logistics standpoint, it seems they should've cut some stores from their list of buyers to streamline the distributions aspect of it all. And if that flies in the face of contractual obligations, buy out the contract.

1 bakery needs 17DC's to house all they make? C'mon. Those numbers are typically reversed. If that's the case, and the ONLY case, then greed doesn't have much to do with this. It's the aftereffect of VERY bad management and logistics practices.

Maybe this will put it a into a clearer perspective: places.designobserver.com...


this early realization that led the company to develop its multilayered distribution system and to identify logistics — the branch of management concerned with moving supplies from point to point, and which relies upon information to enhance speed, efficiency and control — as its primary expertise. The field of logistics, of course, is rooted in the military; historian James Huston describes logistics as "the application of time and space factors to war.”


And their union. Just another case in point in how they either:

a) Don't have the best interest of the worker in mind.

Or b) don't have a clue as to how the food industry works.

Bread is a necessity. Ding Dongs are not. Bread has a more "timely" shelf life. Ding Dongs do not.They say Wonder is the top selling bread in the country...........people, that's a lot of bread if you think about......yet Hostess doesn't make a profit? Instead of talking the workers into striking, they should have been telling management to pull their heads out of their backside and get their s**t together. I haven't looked into it, but I'll bet you dollars to dounts that the founder of the company recently retired and let his/her kids take over. It's the telltale sign of a company that's been around for 80 years, but just recently has started to fail in making profits.

And another thing.....Why didn't they just try and sell the whole thing? or separate the bread from the junk food, make separate divisions and use the Ding Dong Division (
I don't care who you are......that's funny right there.) as a tax write off. ( On second thought, nobody in their right mind would've bought such a mess.) And if they DID do that, and they STILL don't turn a profit.........

I'm sorry, but there are so many other ways this could've turned out for the better. Putting everything together I find it very unrealistic to believe that firing 18,000 people was their best, or only, course of action.

Sorry for the long winded analysis, but bad management practices that lead to 18,000 people being unemployed for Christmas gets my dander up. Sure part of it was greed, but the lions share of what went wrong was people at the top mis-managing things. Big time.


edit on 16-11-2012 by Taupin Desciple because: (no reason given)



posted on Nov, 16 2012 @ 04:15 PM
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reply to post by darkhorserider
 


So what happens when the district fires him because of cuts to the budget?



posted on Nov, 16 2012 @ 04:16 PM
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Everyone is forgetting that Hostess canned the CEO who doled out raises and brought in a new CEO who instantly slashed top execs salaries down to $1/month and other execs got slashed back below their pre-raise rates until the company could pull out of bankruptcy.

Everyone is at fault here. The union put the nail in the coffin is all.

You want to point fingers and lay blame to one party ?
Then point it towards Wall Street.



posted on Nov, 16 2012 @ 04:18 PM
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reply to post by Northwarden
 


And the 8% cut was to be restored over 5 years. So now rather than being at 92% of their current pay, they will be very lucky to find a job at 75% of what they were making and they lost all their pension that they had built up. It takes a long time for a 401K to build, especially in this flat market. So the ones that were close to retirement have nothing with slim prospects of having another job that pays well enough to squirrel away some rain day cash for their golden years.

 


And as an aside to Purple Chiten: Obama's legacy will not be ending the war in Iraq, nor killing Osama, not even Obamacare...he will be known as the man that was President when Americans lost their Ding-Dongs.

I strongly suggest he pulls out the bailout checkbook if Kahn's Meats ever gets into trouble, because if I no longer have "The Wiener The World Awaited" then I am going to truly feel emasculated.



posted on Nov, 16 2012 @ 04:18 PM
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So... Basically the union gave all 18,000 employees a 100% permanent pay cut...

The union president should be flogged with a metal cable...

I'll bet union dues will still be taken out of their last paychecks too...



posted on Nov, 16 2012 @ 04:19 PM
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reply to post by sonnny1
 


the average worker has about as much say and influence in unions as the average american does on picking the presidents breakfast.

maybe its a case of the union not believing the company's warnings.



posted on Nov, 16 2012 @ 04:19 PM
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reply to post by CranialSponge
 


The problem did not happen over night. I fail to see how wall street did this. I have no love for wall street but how can you blame them?



posted on Nov, 16 2012 @ 04:21 PM
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reply to post by Ahabstar
 


That was good.



posted on Nov, 16 2012 @ 04:22 PM
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The place I work is non union and would not want them to get unionized either because they pay well enough and are not corrupt.

Places like Walmart that thrives off cheap Chinese Labor and has American footing the bill for what they should be providing to their employers is a place I would like to see unionized. What are they going to do?

Relocate to China when their only customer is Americans? LOL
If they shut their doors, it would be a dream come true, because you would see a resurgence in small mom and pop stores.



Originally posted by NihilistSanta


What I don't understand is how can a union justify trying to get increases in this economy? Dont they realize how many out of work people will readily take their place?I know everyone has bills but most people live outside of their means. The poor in America have Iphones, refrigerators, cars, and flat screens.



posted on Nov, 16 2012 @ 04:25 PM
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Originally posted by KoolerKing
reply to post by CranialSponge
 


The problem did not happen over night. I fail to see how wall street did this. I have no love for wall street but how can you blame them?


Wall street put the economy where it's at.
Wall street controls the dollar, the inflation rates, etc etc.
Wall street is forcing manufacturing out of the country in the past, present, and future.

Wall street is the reason why companies can no longer afford to pay someone $30/hour for sweeping floors.



posted on Nov, 16 2012 @ 04:26 PM
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reply to post by purplemer
 


Exactly. The union steps in to negotiate and help seal deals. It's management that controls financial aspects of businesses.



posted on Nov, 16 2012 @ 04:30 PM
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reply to post by CranialSponge
 


Actually you would be talking about The Federal Reserve Bank.



posted on Nov, 16 2012 @ 04:34 PM
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Originally posted by KoolerKing
reply to post by CranialSponge
 


Actually you would be talking about The Federal Reserve Bank.


Actually I'm talking about banksters in general.
It was the banksters that changed the laws and enabled globalized investment/trade/commerce.

There was a time when a company could not just pick up and move to another country to set up shop.

I don't think people are realizing the impact globalization is having on all of us with its trickle down effect.

The unions especially have not woken up to this realization yet.
edit on 16-11-2012 by CranialSponge because: (no reason given)



posted on Nov, 16 2012 @ 04:36 PM
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reply to post by Ahabstar
 





And as an aside to Purple Chiten: Obama's legacy will not be ending the war in Iraq, nor killing Osama, not even Obamacare...he will be known as the man that was President when Americans lost their Ding-Dongs.





I strongly suggest he pulls out the bailout checkbook if


I can see it now Hostess is too big to fail they need a bailout and have done for them what was done for the auto industry!



posted on Nov, 16 2012 @ 04:36 PM
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Originally posted by KoolerKing
reply to post by ThirdEyeofHorus
 



Yes you are. The company was already in trouble when they gave themselves raises.
3 months later it files for bankruptcy. Yet some how because the workers went on strike it is their fault????
What are you talkin about.


I have already shown you that the amount of money the execs got is likely peanuts compared to the operating costs of the bakeries and all the advertising expenses, and then ..

And just as I suspected...


The primary issues cited by owner Rayburn was the looming cost of healthcare, union wages, and pension plans. The company already had issues at their production plants which were not operating at optimal levels. The cost per product was increasing with slow production.


www.examiner.com...

And that's coming from a liberal publication bashing the execs.

It was the Baker's Union strike that put the final nail in the coffin. According to sources, even the Teamsters were willing to accept the new contract.



posted on Nov, 16 2012 @ 04:40 PM
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Originally posted by Charmeine
reply to post by purplemer
 


Exactly. The union steps in to negotiate and help seal deals. It's management that controls financial aspects of businesses.


See my post : Teamsters accepted the new contract proposal, Baker's Union did not and decided to strike. Health care plans and pensions were part of the long term issue, and a Union strike shutting down production can kill a company, as it did here, they said they can not endure a long term strike. I guess they decided to shut it down immediately instead of sustaining more debt.

Fair play! The Unions and the workers lost. And now they have to look for jobs in this horrid market the Obama admin sustained for 4 years.



posted on Nov, 16 2012 @ 04:43 PM
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Originally posted by KoolerKing
reply to post by CranialSponge
 


The problem did not happen over night. I fail to see how wall street did this. I have no love for wall street but how can you blame them?


People who listen to the socialist run media are hearing that it was all Wall Street's fault. I even read that in the Examiner article I posted. This admin and the people who support it are pro Union anti Corporation.




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