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

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posted on Nov, 16 2012 @ 07:52 AM
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Originally posted by sonnny1

Originally posted by Rockpuck


Way to go Union workers.. shot yourself in the foot right before the Holidays....


What the hell was the Union thinking?




Yeah, I agree. The Union was even aware that Hostess was not giving an 'empty' threat, backed by the financial research they did. Unbelievable.




posted on Nov, 16 2012 @ 07:53 AM
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Originally posted by roadgravel
Some other company will fill in any void let by this closing. Watch that door knob, Hostess.




I don't think "some other company" will just fill the void.



posted on Nov, 16 2012 @ 07:56 AM
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Originally posted by thisguyrighthere
Bloomberg and Michelle O are probably dancing a jig.


Good.

Then they can play Mr. And Mrs.Claus, for 18000 unemployed workers too.



This Company isn't "too big to fail." No bailout for them.
edit on 16-11-2012 by sonnny1 because: (no reason given)



posted on Nov, 16 2012 @ 07:58 AM
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NOOOOO.


as i type this i'm enjoying my "usual" breakfast of Hostess donettes... that sucks bad for the workers, the people that will be hurt by them closing doors. i just hope theres another company out there ready to scoop them up and the business that will be left with this hole.

and that they make something comparable to the donettes i so love.



posted on Nov, 16 2012 @ 07:59 AM
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This is a devastating loss.

I'm going out today to buy every twinkie on the shelf so my young son can taste all of the unhealthy goodness contained in it.

As a side effect, artists will feel the pain too. No more TwinkieHenge's



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



posted on Nov, 16 2012 @ 08:01 AM
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Originally posted by sonnny1

Originally posted by roadgravel
Some other company will fill in any void let by this closing. Watch that door knob, Hostess.




I don't think "some other company" will just fill the void.



I wasn't aware the only Hostess could bake goods. It really doesn't matter, the consumer and employee will continue to be ripped off by our country's fine system.



posted on Nov, 16 2012 @ 08:03 AM
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If you do some checking into this Hostess is just as much to blame as the Union for this shut down.


In a Joint Plan of Reorganization and related Disclosure Statement filed in October by Hostess with the U.S. Bankruptcy Court for the Southern District of New York, the company included detailed information regarding labor agreements, the treatment of claims and interests, the company’s business plan, and events leading up to and during Hostess’ Chapter 11 cases. Among other things, the plan states that Hostess’ union employees will be subject to an immediate 8% wage cut in year one, with modest increases in the years to follow, as well as a 17% reduction in health and welfare benefits. Hostess also will withdraw from multi-employer pension plans (MEPPs) followed by a freeze on pension contributions for two years and reduced contributions thereafter. “Our members have fought hard for decades through the collective bargaining process to build a decent standard of living for themselves and their families,” Mr. Hurt said. “The deplorable actions taken by Hostess would take our members back to the workplace standards of the 1950s. “Our members have now said no to Hostess and the Wall Street investors in the only means available to them, the strike. The B.C.T.G.M. International Union stands in full and uncompromising support of our striking members.”

Union initiates strike against Hostess Brands



posted on Nov, 16 2012 @ 08:03 AM
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reply to post by roadgravel
 


What fine system would that be? The one that expects people to be responsible and plan for their own future, or the one where union degenerates think they should continue getting paid by the company long after they have retired?



posted on Nov, 16 2012 @ 08:03 AM
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So sad, another union killed business.

Where, besides Amazon can you order the last of the goodies. They should have a great shelf life. Might be a great gifts in the future for grand & great grand kids like my grandparents used to give us silver dollars back in the fifties.



posted on Nov, 16 2012 @ 08:05 AM
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Originally posted by TheAngryFarm
Way to go unions!!!!
Protecting American jobs

Further proof unions are nothing but a haven for degenerates and losers.
Try this source for a little more information: No more Twinkies.

The 82-year-old company, weighted down with $1 billion debt and $2 billion in unfunded pension liabilities, collapsed as what Fortune magazine called “obstinacy, miscalculation, and lousy luck connived to create corporate catastrophe.”

The company, founded in 1930, is fighting battles beyond labour costs, however. Competition is increasing in the snack space and North Americans are increasingly conscious about healthy eating. Hostess also makes Dolly Madison, Drake’s and Nature’s Pride snacks.


Hmmm...seems to deliver a bit of a different story, doesn't it? Looks like bad management and a product that is being considered for health warnings on the labels may just be serious contributing factors as well. But hey...blame the unions, it's easier than actually thinking.



posted on Nov, 16 2012 @ 08:06 AM
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reply to post by buster2010
 


Other Company's have had to make drastic changes, to survive.

The B.C.T.G.M. International Union stands in full and uncompromising support of our striking members.”

Will that help those workers who don't have a job now? Will the Union pay for its employees to be out of work?






posted on Nov, 16 2012 @ 08:08 AM
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reply to post by buster2010
 


Sounds to me Hostess was trying to come up with a viable solution. The Teamsters Union approved the plan. It was the much smaller 5,000 member bakers Union that scuttled any deal and the Teamsters are pissed:


"It is difficult for Teamster members to believe that is what the [Bakers union] Hostess members ultimately wanted to accomplish when they went out on strike," said the Teamsters' statement.

The Bakers' union has made several statements earlier in the week saying management is to blame for the condition of the company, not the strike.

The new contract cut salaries across the company by 8% in the first year of the five-year agreement. Salaries were then scheduled to bump up 3% in the next three years and 1% in the final year.

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.



posted on Nov, 16 2012 @ 08:09 AM
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Originally posted by Chadwickus
reply to post by sonnny1
 


What will the yanks eat during the apocalypse now??

But seriously though, this is terrible news for all those workers.


Well, I don' t think you should feel sorry for them, their greed of wanting more money despite being told the company will shut down is what did them in.

This is a lesson all unions need to learn, their power only exists as long as the company employing them can continue to operate at a profit.



posted on Nov, 16 2012 @ 08:10 AM
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Hostess should have moved to China, they never would have had this problem there.



posted on Nov, 16 2012 @ 08:10 AM
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Originally posted by JohnnyCanuck

Originally posted by TheAngryFarm
Way to go unions!!!!
Protecting American jobs

Further proof unions are nothing but a haven for degenerates and losers.
Try this source for a little more information: No more Twinkies.

The 82-year-old company, weighted down with $1 billion debt and $2 billion in unfunded pension liabilities, collapsed as what Fortune magazine called “obstinacy, miscalculation, and lousy luck connived to create corporate catastrophe.”

The company, founded in 1930, is fighting battles beyond labour costs, however. Competition is increasing in the snack space and North Americans are increasingly conscious about healthy eating. Hostess also makes Dolly Madison, Drake’s and Nature’s Pride snacks.


Hmmm...seems to deliver a bit of a different story, doesn't it? Looks like bad management and a product that is being considered for health warnings on the labels may just be serious contributing factors as well. But hey...blame the unions, it's easier than actually thinking.



I agree that Hostess should shoulder some blame but the Union knew the company was in trouble and that the threat of closing was valid. In the end, the workers lost because they didn't cross the line and go back to work.



posted on Nov, 16 2012 @ 08:11 AM
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Its truly awful that so many people lost their jobs, especially in such challenging times. That being said...
Screw Hostess, a bringer of ill-health and non-food. I like a good snack as much as the next person, but twinkies aren't food. White Wonder bread is probably the worst bread in America too. Good riddance terrible products. Best of luck to all those who lost their jobs, hopefully at least some of them can move on to a better, more productive and beneficial career for themselves, their families, America and the world.



posted on Nov, 16 2012 @ 08:13 AM
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Originally posted by JohnnyCanuck


Hmmm...seems to deliver a bit of a different story, doesn't it? Looks like bad management and a product that is being considered for health warnings on the labels may just be serious contributing factors as well. But hey...blame the unions, it's easier than actually thinking.


If the union didnt exist, would the pension liabilities be there?

Nope.

Union workers knew the result of their continued strike would mean a full plant closure. As a result, those degenerates can starve on Christmas. Cool with me, I'm sure the union bosses wont be going hungry.



posted on Nov, 16 2012 @ 08:13 AM
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It's ARMAGEDDON I tell ya!!!



posted on Nov, 16 2012 @ 08:14 AM
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reply to post by sonnny1
 


Well, I am one who enjoys those baked goods too, but unfortunately this news story hits home for me a little harder than most. My brother is one of those 18000 employees of Hostess who will be getting laid off due to the plants closing. It's sad when you see iconic brands from the past go away, it's twice as sad when you see a family member be affected by that exact thing...

Mike, I promise to help you gain new employment asap...



posted on Nov, 16 2012 @ 08:15 AM
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I won't miss them at all. It is taking an excellent survival food off the market though. Everyone knows that twinkies last forever.


I should go out and buy some for the antique value. In two hundred years a box will be valuable. They will still be edible too.
edit on 16-11-2012 by rickymouse because: (no reason given)





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