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

reply to post by ThirdEyeofHorus


Exactly, Rayburn tried to step in and save the company at the eleventh hour.

The company was sucking wind long before the exec raises... The company was sucking wind because it could no longer be competitive in a world of cheap imports and rising inflationary rates.

Globalized trade/commerce that is currently unregulated and a free for all in the top 1% class does not include small time schmucks like Hostess. The economy is going bust and it's not because a handful of execs tried to make hay while the sun was shining.

The worker/consumer is the ultimate payer to all of this.

Eventually unions will also go bust for lack of membership revenues... Let's not forget that unions are businesses too and need revenues to cover their costs. Keep putting nails in coffins, and you eventually cut off all of your revenues.

reply to post by ThirdEyeofHorus

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 ..

Funny part there is when they vote the way they do and support who they do and pass all those financial reforms such as we saw in Frank Dodd act and other legislation that takes money from them since all those union pensions are heavily invested is that most evil most vilified Wall Street, and there they are crying about those evil Execs.

Everytiime they scream raise the tax on capital gains they support taking more money from themselves it really is hilarious.

reply to post by Taupin Desciple


So because bread is a necessity and ding dongs are not, should all food industries only produce necessary items? Talk about communistic ideas. Let's just eat the grain whole uncooked while we are at it, like animals.

I Knew Unions were evil but I didnt think they would Kill Twinkies

Originally posted by neo96
reply to post by ThirdEyeofHorus

 

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 ..

Funny part there is when they vote the way they do and support who they do and pass all those financial reforms such as we saw in Frank Dodd act and other legislation that takes money from them since all those union pensions are heavily invest ed is that most evil most vilified Wall Street, and there they are crying about those evil Exec.

Everytiime they scream raise the tax on capital gains they support taking more money from themselves it really is hilarious.

edit on 16-11-2012 by neo96 because: (no reason given)

Yes, exactly. I was looking to see if I could find any profit-sharing plans in the company, as many companies do this. There was 401k plan in the contract proposal, but the proposal was rejected because the people had lower hours and wage reduction. They have no clue what is really happening as a result of this socialist administration in power.

Originally posted by knightrider078
I Knew Unions were evil but I didnt think they would Kill Twinkies

OMG!!!!! Do you think they will go after the Pillsbury Dough Boy?

Spot on.
The Wall Street Banksters would never have gotten away with the policies that they have passed 30 years ago.

Like giving companies tax breaks to move their companies to Commie China? How stupid is that?

Perhaps I should invest in and buy Iranian Nuclear material or North Korean goods to give these traitors in this country the finger?

Originally posted by CranialSponge

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)

Originally posted by 200Plus
18K jobs lost.

I know people will say "someone else will buy them out or replace them". I grew up in Detroit. They said the same thing when the auto plants shut down. Someone will buy the buildings and hire the workers. The foundries and forges are drive through museums now and they old assembly plants are open fields. Nobody hired the workers. and my city became a ghost town.

It's going to be an evil year. Good luck to all.

+edit - if the union reps and employees didn't get paid during a strike (like the workers) this never would have happened. It's easy to play hardball at a board meeting when your kids are being fed.

edit on 16-11-2012 by 200Plus because: (no reason given)

I'm from Detroit as well grew up on Grand River right down the street from Hostess. Hostess has been in decline for years.

Time for a reality check

Hostess has been sold at least three times since the 1980s, racking up debt and shedding profitable assets along the way with each successive merger. The company filed for bankruptcy in 2004, and again in 2011. Little thought was given to the line of products, which, frankly began to seem a bit dated in the age of the gourmet cupcake. (100 calorie Twinkie Bites? When was the last time you entered Magnolia Bakery and asked about the calorie count?)

As if all this were not enough, Hostess Brands management gave themselves several raises, all the while complaining that the workers who actually produced the products that made the firm what money it did earn were grossly overpaid relative to the company’s increasingly dismal financial position.

www.forbes.com...

When will businesses learn how to manage a business? Companies that treat their employees fair are more successful.

a friend of mine is going to attempt an insane hail mary...

He is putting together a proposal to be placed on kickstarter
he wants to see if he can buy Hostess... he said he would be calling me as soon as he is done

funding
see if he can buy trademarks, factories, equipment,
new management team (from the trenches of business)



The question is if he can get a hold of Hostess... I am working on that...

hopefully he succeeds, most of the people will still have jobs

crossing fingers...

reply to post by ripcontrol


Quiet as its kept I'm sure they already have a buyer for it's successful products.

Originally posted by iwilliam

NO. In fact, not long before this, they took RAISES. But most people seem to be conveniently ignoring this fact. It's much cooler to bash the lower-paid wage workers. Here are the bonuses which the higher-ups were unwilling to part with, in exchange for their most valuable service to the company and the community.

Brian Driscoll, CEO, around $750,000 to $2,550,000
Gary Wandschneider, EVP, $500,000 to $900,000
John Stewart, EVP, $400,000 to $700,000
David Loeser, EVP, $375,000 to $656,256
Kent Magill, EVP, $375,000 to $656,256
Richard Seban, EVP, $375,000 to $656,256
John Akeson, SVP, $300,000 to $480,000
Steven Birgfeld, SVP, $240,000 to $360,000
Martha Ross, SVP, $240,000 to $360,000
Rob Kissick, SVP, $182,000 to $273,008

This pretty much sums up why it's going under. The union didn't give those big raises to the corporate fat-cats, so it's not the union that destroyed the company at all!!

Double the salary of the fat-cats, try to cut the worker salaries, retirement and benefits in half, the scratch your head when the strike??

well, my local Walmart still has plenty of Hostess products. I did buy a box of Ho-ho's.

The cashier was talking about it when I checked out. She said nobody's really worried since it's probably just something they planned to get people to buy more of the product.

...she's probably right come to think of it.

Hostess isn't going anywhere, it's just going to change hands or something, they're just trying to push the workers around and sell more cakes.

My ex wife would never pass up a ding dong. I can do without.

Ehh,i could care less, good riddance, the times are hopefully changing for the best, maybe they will start over with something that actually helps us . alot of people are gonna be losing jobs left and right in the coming few years..its time to put things in perspective, lets work to help the world/society, instead of just mindlessly working to destroy it, what exactly did one hope to achieve by working for a unhealthy snack food company for so many years. Did you not foresee that this just may not last forever. its time we come together and create jobs and wealth for all instead of hopelessly slaving over one, while the kings sit at the top with our lives in their hands..only then will we all be free and content.

reply to post by TheAngryFarm


Yeah maybe we can get the Chinese to make out Twinkies for us.

Originally posted by Sissel
reply to post by sonnny1

 

Better rush out and stock up then......

What's the shelf life of these, something like a thousand years?

No more fried Twinkies at the state fair

We grew up with Twinkies in our lunch boxes.

None of us are unhealthy or overweight.

I wonder if they freeze well?

It's like loosing Apple Pie

Originally posted by Juggernog

Originally posted by gladtobehere

Originally posted by sonnny1

Founded in 1930, it produces such well-known brands, aside from Twinkies, as Ding-Dongs, Ho Ho's...

No more "dongs" or "hos".

Truly is a sad day.

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

WAIIIIIIT!!! Who makes swiss rolls? anybody?

Little Debbies

Originally posted by sonnny1
18000 people losing their Jobs, right before Christmas. Looks like the Union didn't help the employees after all.

This is the corporate line. From what I heard on CNBC today, the Parent Company, which makes Merita Bread, Hostess and Wonder Bread, had overleveraged and mismanage the hell out of the company.
Then because MANAGEMENT screwed up, they wanted to claw back the wages and benefits of the employees to make up for it.

The union tried to negotiate, as they should, and hoped that someone would buy off the company, but of course it is too heavily in debt.
Now nobody has a job. But, who's going to pay the price for that, the well to do upper management?
No the people who made their products and live paycheck to paycheck.

Don't blame unions. There is a whole lot of union busting language going on now.
But, trust me, you'll miss them when they're gone.

Originally posted by wantsome
reply to post by TheAngryFarm

 

Yeah maybe we can get the Chinese to make out Twinkies for us.

Sadly they are probably already in route to the US.

Well there's Little Debbies lower quality cakes.I can hack it......# this!No glazed fruit pies!!